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Learning Through Acquisitions

Published on Jun 1, 2001in Academy of Management Journal7.19
· DOI :10.5465/3069364
Freek Vermeulen12
Estimated H-index: 12
(LBS: London Business School),
Harry G. Barkema18
Estimated H-index: 18
(Tilburg University)
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Abstract
Research on acquisitions has typically focused on acquisitions per se, examining issues such as performance and implementation problems. This study moves beyond that perspective and studies the influence on a firm's later expansions. We argue that exploitation of a firm's knowledge base through “greenfields” eventually makes a firm simple and inert. In contrast, acquisitions may broaden a firm's knowledge base and decrease inertia, enhancing the viability of its later ventures. Over time, firms strike a balance between the use of greenfields and acquisitions. Various implications of this theory—tested with survival analysis and “logit” models—were strongly corroborated.
  • References (13)
  • Citations (764)
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References13
Newest
#1Daniel A. Levinthal (UPenn: University of Pennsylvania)H-Index: 47
#2James G. March (Stanford University)H-Index: 65
#1Michael A. Hitt (A&M: Texas A&M University)H-Index: 95
#2Robert E. Hoskisson (A&M: Texas A&M University)H-Index: 58
Last.Jeffrey S. Harrison (Clemson University)H-Index: 27
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Cited By764
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#1Filippo Albertoni (Polytechnic University of Milan)H-Index: 2
#2Stefano Elia (Polytechnic University of Milan)H-Index: 9
Last.Lucia Piscitello (Polytechnic University of Milan)H-Index: 17
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#1Joseph A. Clougherty (UIUC: University of Illinois at Urbana–Champaign)H-Index: 14
#2Tomaso Duso (Technical University of Berlin)
Last.Lorenzo Ciari (European Bank for Reconstruction and Development)H-Index: 7
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