Organizational Imprinting and Cross-Border Acquisition Performance: An Emerging Market Perspective
In the last few decades, as many emerging economies have liberalized, cross-border acquisitions have been an important strategic lever for firms to fill their resource voids. However, there is little research that examines whether being embedded in a closed set-up for an extended period would affect the post-acquisition performance of these cross-border deals. Borrowing the arguments from organizational imprinting and organizational learning, we hypothesized and found the empirical support that the degree of organizational imprinting negatively impacts the post-acquisition performance of the cross-border acquisitions done by firms from emerging markets. Furthermore, we found support for the moderating impact of technological intensity and industry dynamism on this baseline relationship. We tested our predictions on a dataset comprising 312 majority stake cross-border M&A deals done by publicly listed Indian firms from 2003 to 2015."
|Journal||Academy of Management Proceedings|