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Cross-Border Acquisition Abandonment and Completion: The Effect of Institutional Differences and Organizational Learning in the International Business Service Industry, 1981-2001

Journal of international business studies, 2010-02, Vol.41 (2), p.223-245 [Peer Reviewed Journal]

Copyright 2010 Academy of International Business ;Academy of International Business 2009 ;Academy of International Business 2010 ;ISSN: 0047-2506 ;EISSN: 1478-6990 ;DOI: 10.1057/jibs.2009.10

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Title:
Cross-Border Acquisition Abandonment and Completion: The Effect of Institutional Differences and Organizational Learning in the International Business Service Industry, 1981-2001
Author: Dikova, Desislava ; Sahib, Padma Rao ; van Witteloostuijn, Arjen
Subjects: Acquisition agreements ; Acquisitions & mergers ; Agreements ; Bids ; Breach of contract ; Business and Management ; Business service industries ; Business Strategy/Leadership ; Business structures ; Corporate mergers ; Corporate strategies ; Cross border transactions ; Data acquisition ; Expropriation ; Hypotheses ; International Business ; Investigations ; Learning experiences ; Management ; Modeling ; Organization ; Organizational learning ; Political economy ; Service industries ; Studies ; Success ; Target acquisitions
Is Part Of: Journal of international business studies, 2010-02, Vol.41 (2), p.223-245
Description: Based on the concepts of North's (1990) political economy of national institutions and economic behavior, we investigate how formal and informal institutional features influence the likelihood that a cross-border acquisition deal will be completed, as well as the time taken for its completion after announcement. Additionally, we study how past experience with completed acquisition deals moderates the effects of institutional differences. We focus on a relatively new context – the pre-completion stage of acquisition processes. We test our hypotheses using data from 2389 announced cross-border acquisition deals in the international business service industry (1981–2001). We find that differences in national formal and informal institutions explain part of the variation in the likelihood that an announced cross-border acquisition deal will be completed, as well as the duration of the deal-making. In addition, organizational learning moderates the effects of institutional distance: past experience with completed cross-border acquisition deals increases the likelihood of a subsequent deal completion in institutionally closer environments, but shortens the deal duration in institutionally distant environments.
Publisher: London: Palgrave Macmillan
Language: English
Identifier: ISSN: 0047-2506
EISSN: 1478-6990
DOI: 10.1057/jibs.2009.10
Source: AUTh Library subscriptions: ProQuest Central
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Cross-Border Acquisition Abandonment and Completion: The Effect of Institutional Differences and Organizational Learning in the International Business Service Industry, 1981-2001

Copyright 2010 Academy of International Business ;Academy of International Business 2009 ;Academy of International Business 2010 ;ISSN: 0047-2506 ;EISSN: 1478-6990 ;DOI: 10.1057/jibs.2009.10

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