What Constrains or Facilitates Divestitures of Formerly Acquired Firms ? The Effects of Organizational Inertia  

Oleh:

Hitt, Michael A. ; Shimizu, Katsuhiko

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: JOM: Journal of Management vol. 31 no. 1 (Feb. 2005), page 50-72.
Topik: ORGANIZATIONAL; mergers and acquisitions; divestiture; organizational inertia; case control design
Fulltext: 50.pdf (145.13KB)

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ92.8 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

This study examined behavioural explanations for the divestitures of formerly acquired units, particularly organizational inertia. It was argued that characteristics of parent firms and divested units reduce the likelihood of divesting a poorly performing unit. Conversely, it was also argued that change of key personnel and effective governance mechanisms increase the likelihood of such divestitures. Importantly, the results show that with age and size combined, appointment of new outside directors and divestiture experience (among other variables) moderated the effects on the likelihood of firms divesting units they had previously acquired. Implications for future theory development and management practice are also discussed.

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