The Effect of Technological Space and Geographic Origin on Post-Acquisition Financial Performance - The Moderating Role of R&D capability and Organizational Slack
Date Issued
2012
Date
2012
Author(s)
Wang, Che-Wei
Abstract
Acquisitions have been a common strategy when organizations want to expand their operations. In previous research, many studies have widely discussed acquisitions in various aspects. This research introduced the organizational learning theory and resource-based view. We focused on the financial performance due to different acquisition combinations.
Our data contains 488 sample firms in semiconductor industry from 2003 to 2007, which were collected from SDC and Compustat database. Through empirical analyses, the relationship between inter-industry acquisition, R&D capability, organizational slack, and performance have been examined. The result implies that the negative relationship between technologically distant knowledge of national origin and financial performance. In addition, R&D capability makes a negatively moderating effect to the relationship between inter-industry acquisitions and financial performance. In contrast, the relationship between inter-industry acquisition and financial performance will strengthen with higher organizational slack. We finally come to realize the decision of management on inter-industry acquisition could have an impact on the synergy after acquisitions, and we tired to provide the strategic insight for management that they may refer to when facing acquisition decisions.
Subjects
Inter-industry acquisition
Organizational learning
Exploration and exploitation
R&D capabilities
Organizational slack
Type
thesis
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