Inter Industry Merger Patterns and Resource Dependence: A Replication and Extension of Pfeffer (1972)  

Oleh:

Finkelstein, Sydney

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: Strategic Management Journal vol. 18 no. 10 (1997), page 787-810.
Topik: resources; resource dependence; mergers and acquisitions

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: SS30.1 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

This paper re - examines pfeffer's (1972) classic study on inter industry merger patterns by replicating and then extending his findings. Pfeffer argued and found that resource dependencies, as measured by inter industry economic transactions, explained merger patterns. The replication investigates how robust the resource dependence explanation for inter industry mergers is when more precise methods are applied to a data set that essentially recreates pfeffer's. The extention examines the strength of the resource dependence effect over time, and offers hypotheses that seek to explain both longitudinal and cross - sectional variation in the strength of this effect. Results indicate that while the significance of the resource dependence effect is once again observed, after applying more refined analytical methods to the data the explanatory power of resource dependence is greatly diminsihed. In addition, variation in the strength of the resource dependence effect suggests some boundary conditions for the theory, at least with respect to its ability to predict inter industry mergers.

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