Interindustry merger patterns and resource dependence: a replication and extension of Pfeffer (1972)
Article Abstract:
A study was conducted replicating and extending the seminal paper of Pfeffer (1972) on interindustry patterns. Pfeffer concluded that resource dependencies were the main variable affecting merger patterns. The replication, which used similar and later more limiting methods, aims to review the role of resource dependence in patterns of interindustry mergers. On the other hand, the extension involved the development and testing of hypotheses explaining longitudinal and cross-sectional deviation in the relationship between mergers and interindustry transactions. Findings revealed that resource dependence was again found to explain merger patterns although it becomes less meaningful when more detailed analytical techniques were applied. The differences in the intensity of the impact of resource dependence indicates boundary conditions.
Publication Name: Strategic Management Journal
Subject: Business
ISSN: 0143-2095
Year: 1997
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Predicted change in operational synergy and post-acquisition performance of acquired businesses
Article Abstract:
The performance of business organizations acquired during the merger and acquisition boom in the 1980s is examined. It is proposed that improvements in post-acquisition performance can be attributed to increased opportunities to share resources and activities among the acquiring company's various business units. The study tests this hypothesis by using data from 356 manufacturing industries. Predictions of competitive performance changes for each acquired company during the period 1980-84 are estimated and are found to be positive. They are also shown to be positively correlated with competitive performance changes for the period 1984-86. These results underscore the value of resource and activity sharing within conglomerate corporations.
Publication Name: Strategic Management Journal
Subject: Business
ISSN: 0143-2095
Year: 1996
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Toward a contingent resource-based theory: the impact of information asymmetry on the value of capabilities in veterinary medicine
Article Abstract:
Activities with credence, experience and search quality were found to be highly useful in the practice of veterinary medicine. A sample of 193 veterinary practices shows that credence activities coupled with experience and search activities lead to enhancement of practice profitability. Such kind of activities undertaken by independent veterinarians can be considered as a type of isolating mechanism. The sample studied also reveals a positive interaction between credence activities, complex search activity and repeat client benefits. The importance of practice capabilities, which help sustain clients, in the successful delivery of services with experience qualities was also established.
Publication Name: Strategic Management Journal
Subject: Business
ISSN: 0143-2095
Year: 1999
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