When waiting is strategic: Evidence from Colombian M&amp;As 1995–2008

Andonova, Veneta; Rodríguez, Yeny E.; Sánchez, Iván D.

doi:10.1016/j.jbusres.2013.01.006

Cited by 12 publications

(10 citation statements)

References 28 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…The research question guiding our work is: "How does the post-deal integration phase affect acquisition performance?" Our research approach deviates from the bulk of prior research on M&A performance, predominantly based on quantitative archival US data (Andonova et al 2013) or surveys using perceptual top manager data (Meglio and Risberg, 2010). Our research approach aligns with the recommendations to explore the qualitative dynamics in M&A (Meglio and Risberg, 2010;Cartwright et al 2012) and M&A performance in particular (Meglio and Risberg, 2011) in order to "get inside the M&A phenomenon" (Haleblian et al 2009, p.492).…”

Section: Introductionmentioning

confidence: 99%

Looking into the ‘black box’ – unlocking the effect of integration on acquisition performance

Teerikangas

Thanos

2018

European Management Journal

View full text Add to dashboard Cite

Extending research on the performance of Mergers and Acquisitions (M&As), this paper seeks to explain how the post-acquisition integration phase affects acquisition performance. Despite extensive research efforts, there remains a scant understanding of how acquisition implementation, particularly in the post-acquisition integration phase, impacts the performance of M&As. Based on an extensive study of eight acquisitions, in this paper, a grounded model detailing the mechanisms by which the post-acquisition integration phase affects acquisition performance is developed. The model posits that integration-related factors do not bear directly upon acquisition performance. Instead, their effect is mediated by functional organizations in both firms. When focusing into these functional mediating dynamics, we observe that integration-related processual, behavioural and cultural factors affect the identified functional mediators in different ways. Going forward, we echo calls for integrated perspectives to the study of M&A and M&A performance in particular.

show abstract

Section: Introductionmentioning

confidence: 99%

Looking into the ‘black box’ – unlocking the effect of integration on acquisition performance

Teerikangas

Thanos

2018

European Management Journal

View full text Add to dashboard Cite

show abstract

“…Waiting historically has been used in various ways to either gain power over an adversary, or to enforce state control. In the business world of mergers and acquisitions for example (Andonova et al, 2013), waiting is a strategy to out-manoeuvre a competitor. This is ‘tactical waiting’ (Xiao et al, 2012) or ‘postponement’ (Paglieri, 2013), a resource managed and planned by the waiter (Gasaparini, 1995: 41; Minnegal, 2009: 90), in the same way that a predator or hunter waits and watches for its prey (Tan, 2009: 67; Wearmouth et al, 2014) or commuters delay their departure to minimise travel time (Xiao et al, 2012).…”

Section: Waiting and Powermentioning

confidence: 99%

Waiting, power and time in ethnographic and community-based research

Palmer

Pocock

Burton

2017

Qualitative Research

View full text Add to dashboard Cite

Waiting is one of the most common phenomena in ethnographic and other community-based research. Nevertheless, it remains under-explored in academic writing about the theoretical and methodological aspects of fieldwork. While waiting time often allows new data or information to emerge, we argue that such times have a significance independent of knowledge outcomes. We review various conceptions of waiting: as a time for self-awareness; the use of enforced waiting to exert power over the disadvantaged; and its obverse, the choice by the more powerful to 'wait upon' another's needs and priorities. We use stories from our own fieldwork experience to suggest that in the particular context of ethnographic or community-based research, the choice to 'wait upon' others is a form of researcher reflexivity that can partially redress historical or current power imbalances.

show abstract

“…Studies from the US context suggest that early movers are more successful than late movers (Carow et al, ; McNamara et al, ). Interestingly though, Andonova et al () concluded precisely the opposite for South American firms in Colombia, indicating that M&A findings are geographically specific. The macro context in terms of waves of M&A activity and geography may, therefore, play important roles in determining M&A performance and confounded results suggest there is more to be done to understand their interactions fully.…”

Section: Introductionmentioning

confidence: 98%

“…Finance and economics have investigated macroeconomic factors that lead to the creation of an acquisition wave (e.g., Harford, )—defined as a short period when “ intense acquisition activity ” is observed (McNamara, Haleblian, & Dykes, ). In the strategy literature, studies have adopted a more “micro” perspective by investigating the temporal effects of whether early or late acquisition in an acquisition wave results in more successful deals (Andonova, Rodriguez, & Sanchez, ; Carow, Heron, & Saxton, ; McNamara et al, ) or whether firm characteristics influence the timing of participating in M&A waves (Haleblian et al, ). Studies from the US context suggest that early movers are more successful than late movers (Carow et al, ; McNamara et al, ).…”

Section: Introductionmentioning

confidence: 99%

“…While analyzing such data provides significant insights, the United States is a specific geographic and institutional setting that is quite different to many other countries around the world. For that reason, there have been many calls for studies that use perceptual data from outside the United States (Andonova et al, ; Cartwright & Schoenberg, ; Haleblian et al, ). Other major settings for M&A activity include the UK which has also been heavily researched (e.g., Ahammad, Leone, Tarba, Glaister, & Arslan, ; Angwin & Meadows, ; Schoenberg, ) and the stronger European economies such as Germany (e.g., Bauer & Matzler, ; Strobl, Bauer, & Matzler, forthcoming), France (e.g., Meschi & Métais, ), and the Nordic countries (e.g., Teerikangas & Thanos, ).…”

Section: Introductionmentioning

confidence: 99%

See 1 more Smart Citation

Does changing contexts affect linkages throughout the mergers and acquisition process? A multiphasic investigation of motives, pre‐ and post‐acquisition and performance

2020

View full text Add to dashboard Cite

Mergers and acquisitions (M&As) are important organizational change phenomena that have attracted significant research focusing on many aspects, but only recently has attention begun to concentrate on its complex multiphasic nature and its embeddedness in multiple contexts. So far, the influence of the macro context in M&A deals has been little studied and its interaction with M&A's multiphasic nature has been ignored. This article addresses this limitation by investigating whether different macroeconomic wave and non‐wave periods of M&A activity influence phases of M&A in terms of motives, pre‐ and post‐acquisition processes, and acquisition performances. Drawing on a dataset of Greek M&As, an under‐researched M&A context, findings suggest that acquisitions in non‐wave periods are driven by different motives from those in‐wave periods. Interestingly though, we found no statistically significant changes in pre‐ and post‐acquisition processes and M&A performance between in‐wave and non‐wave periods. We suggest this finding of organizational change may be due to the nature of the early stage of Greek M&A and may also apply to the experience of other countries. Further theoretical and practical implications of these findings are also discussed.

show abstract

When waiting is strategic: Evidence from Colombian M&As 1995–2008

Cited by 12 publications

References 28 publications

Looking into the ‘black box’ – unlocking the effect of integration on acquisition performance

Looking into the ‘black box’ – unlocking the effect of integration on acquisition performance

Waiting, power and time in ethnographic and community-based research

Does changing contexts affect linkages throughout the mergers and acquisition process? A multiphasic investigation of motives, pre‐ and post‐acquisition and performance

Contact Info

Product

Resources

About