Purpose Given that several publicly announced international merger and acquisition deals have been abandoned in recent years, the purpose of this paper is to present a synthesis of influential articles that examine organizational characteristics of cross-border acquisition transactions. The synthesis is framed through general traits and resources, learning and prior acquisition experience, and top-level management and governance attributes. Specifically, the paper conceptualizes key organizational attributes influencing the propensity of cross-border negotiations, and the most common characteristics and post-deal effects by illustrating several case examples from around the world. Design/methodology/approach Owing to fairness and integrity principles of the literature survey studies, the paper adopts an exploratory review design to present a synthesis of several influential articles published in strategy, international business and corporate finance journals. Since case method and storytelling are the best qualitative approaches to conceptualizing extant theoretical contributions, a number of case examples—successful, delayed and abandoned—from around the world have been discussed by leveraging the case information from archival sources. Findings Drawing on resource-based view, organizational learning, upper echelons and agency theory perspectives, the paper underscores three observations. First, organizational characteristics such as firm age, firm size, ownership structure, slack resources, marketing resources, technological intensity, export intensity and business group affiliation have different impacts on the propensity of publicly announced cross-border deals. Second, firm’s prior acquisition experience and firm’s acquisition experience in the target country have positive or moderating effects on the success of a cross-border merger. Third, top-level management characteristics such as CEO foreign nationality and CEO international career experience, and governance characteristics such as board size, the number of independent directors and directors with overseas experience, have mixed effects on the incidence of cross-border acquisitions. Practical implications The paper puts forth several recommendations for top-level managers participating in cross-border acquisition negotiations, such as learning from peers in the same industry, learning from predecessors in the target country and learning from failure negotiations in the same industry and other industries. Originality/value Nested within the organizational, international business strategy and corporate finance literature, the paper presents a synthesis of influential publications that study organizational characteristics affecting the propensity of cross-border acquisitions. The cases discussed in this paper are unique examples from around the world.
This paper examines how ties to large-scale state-owned enterprises and ties to banks affect firm performance in emerging economies. The findings, obtained from survey data collected from 208 firms in the Chinese manufacturing industry, indicate that both categories of ties improve firm performance. The value of the two categories of ties changes in organizational contexts that vary in terms of the moderators of size, age, and firm strategy. Specifically, ties to banks improve the performance of younger firms significantly more than that of older firms, while ties to large-scale state-owned enterprises improve the performance of smaller firms significantly more than that of larger firms.
Purpose The effect of market orientation (MO) on new product development (NPD) has been widely discussed in recent research. This paper aims to summarize the theoretical and empirical literature in this field from 1990 to 2016. Design/methodology/approach A total of 89 papers were published in 15 top management journals over this period of nearly 30 years. Forty-one papers are identified as major research and recognized as five main streams by an approach of inductive. Findings Conclusions regarding trends in the literature on MO–NPD relationship and surfacing future research directions were drawn. Practical implications Managers can take a better understanding of the concept of MO. Moreover, they can find some approach to promote their firms’ NPD. Furthermore, they should keep in mind that MO’s effect on NPD may depend on different factors, and different types of MO may lead to different types of NPD. In addition, this paper provides researchers with systematic understanding of the literature in this area, and future research directions. Originality/value This is the novel paper to systematically review the literature on the effect of MO on NPD, and the first to classify the studies into five streams which provides clear directions for future research.
In this paper a quality monitoring system for seismic while drilling (SWD) that integrates the whole process of data acquisition was developed. The acquisition equipment, network status and signals of accelerometer and geophone were monitored real-time. With fast signal analysis and quality evaluation, the acquisition parameters and drilling engineering parameters can be adjusted timely. The application of the system can improve the quality of data acquisition and provide subsequent processing and interpretation with high qualified reliable data.
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