Playing Politics: An Upper Echelons Perspective on Political Behaviour During Acquisition Decision Making

IF 4.5 2区 管理学 Q1 BUSINESS
Bowen Lou, N. Shepherd, A. Strobl, Florian Bauer
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引用次数: 0

Abstract

The pre‐deal phase of an acquisition is complex, with high stakes and high uncertainty. Consequently, acquisition decision making can be seen as an inherently political process. While political behaviour is a central concept in organizational theory, and despite its inevitability during acquisition decision making owing to the contested nature of the pre‐deal phase, there is a shortage of theory and evidence concerning the antecedents, consequences and moderators of political behaviour. To address these theoretical shortcomings, we develop and test a theoretical model of political behaviour focusing on the psychological context of the top management team (TMT). We argue that while political behaviour risks undermining acquisition performance, the degree of board involvement during the pre‐deal phase can enable some TMTs to attenuate the damaging effects of political behaviour. Further, we theorize two key antecedents variously fuelling and constraining political behaviour. We contend that while TMT cohesion reduces political behaviour, cognitive diversity increases political behaviour while suppressing the potential for TMT cohesion to prevent political behaviour. We test our theoretical model using a field‐based sample of 109 UK acquisitions, combining multiple informants with objective secondary data.
玩弄政治:从高层角度看采购决策过程中的政治行为
收购的交易前阶段非常复杂,风险大,不确定性高。因此,收购决策可以被视为一个内在的政治过程。政治行为是组织理论中的一个核心概念,尽管由于交易前阶段的争议性,政治行为在收购决策过程中不可避免,但有关政治行为的前因、后果和调节因素的理论和证据却很缺乏。为了解决这些理论上的不足,我们建立并检验了一个政治行为理论模型,重点关注高层管理团队(TMT)的心理背景。我们认为,虽然政治行为有可能损害收购绩效,但董事会在交易前阶段的参与程度可以使一些 TMT 减轻政治行为的破坏性影响。此外,我们还从理论上提出了助长和制约政治行为的两个关键因素。我们认为,TMT 的凝聚力会减少政治行为,而认知多样性会增加政治行为,同时抑制 TMT 凝聚力防止政治行为的潜力。我们使用 109 个英国收购公司的实地样本,结合多方信息来源和客观的二手数据,对我们的理论模型进行了检验。
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来源期刊
CiteScore
10.00
自引率
12.50%
发文量
87
期刊介绍: The British Journal of Management provides a valuable outlet for research and scholarship on management-orientated themes and topics. It publishes articles of a multi-disciplinary and interdisciplinary nature as well as empirical research from within traditional disciplines and managerial functions. With contributions from around the globe, the journal includes articles across the full range of business and management disciplines. A subscription to British Journal of Management includes International Journal of Management Reviews, also published on behalf of the British Academy of Management.
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