As employee downsizing has become increasingly ubiquitous in recent years, the study of this phenomenon has assumed greater significance. This article develops an integrative framework that incorporates environmental and organizational antecedents as well as the implications of downsizing for individuals and organizations. Key empirical studies are reviewed and major patterns and contradictions are identified. The authors identify and discuss theoretical and methodological concerns related to the extant literature and provide recommendations for future research aimed at developing a better understanding of employee downsizing.

Based on a sample of 222 cross-border acquisitions by U.S. firms in the service sector, our study examines the effects of acquiring firms' prior cross-border acquisition experience in the same industry and geographic region as the acquired firm on shareholder value creation.Using the BHAR (buy-and-hold abnormal returns) methodology, we find that higher levels of industry-specific and region-specific acquisition experience translate into greater shareholder value creation for acquiring firms in subsequent acquisitions. In addition, our results indicate that the effects of industry-specific acquisition experience on acquisition performance is contingent on the level of cultural similarity between the acquiring and acquired firm countries with the benefits of prior experience being greater in acquisitions undertaken in culturally similar countries. We also find that the moderating effects of cultural similarity on the relationship between industry-specific acquisition experience and value creation is contingent on the level of prior region-specific acquisition experience possessed by the acquiring firm.

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