Due diligence speed in technology acquisitions: the impact of top management team’s social capital

IF 9.7 2区管理学 Q1 MANAGEMENT

Asia Pacific Journal of Management Pub Date : 2024-12-05 DOI:10.1007/s10490-024-10002-4

Manish Popli, Yi Li, Lusi Wu, Tazeeb Rajwani

引用次数: 0

Abstract

Drawing from the social capital theory, we theorize the importance of the information provisioning role of the top management team’s (TMT’s) social capital, commonly called guanxi, in the speed of due diligence in technology acquisitions. We argue that social capital derived through the TMT’s interpersonal ties brings the advantages of trust, reliability, and speed of information, which can potentially expedite the task of evaluating target technology firms. In addition, we take the contingency view of social capital theory to build the case that contextual factors, including TMT tenure and equity control, can limit the efficacy of TMT social capital. We contribute to the literature by focusing on TMT’s social capital, which is constitutive in entrepreneurial actions such as technology mergers and acquisitions. Using data from 616 Chinese technology acquisitions during 2006–2015, we find empirical support for our hypotheses.

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技术收购中的尽职调查速度：高层管理团队社会资本的影响

从社会资本理论出发，我们将高层管理团队（TMT）的社会资本（通常称为关系）在技术收购尽职调查速度中的信息提供作用理论化。我们认为，通过TMT的人际关系获得的社会资本带来了信任、可靠性和信息速度的优势，这可能会加速评估目标技术公司的任务。此外，我们运用社会资本理论的权变观点，构建情境因素（包括TMT任期和股权控制）限制TMT社会资本效能的案例。我们通过关注TMT的社会资本来贡献文献，这是技术并购等创业行为的组成部分。利用2006-2015年间616项中国技术收购的数据，我们发现了对我们假设的实证支持。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Asia Pacific Journal of Management MANAGEMENT-

CiteScore

9.70

自引率

9.30%

发文量

期刊介绍： The Asia Pacific Journal of Management publishes original manuscripts on management and organizational research in the Asia Pacific region, encompassing Pacific Rim countries and mainland Asia. APJM focuses on the extent to which each manuscript addresses matters that pertain to the most fundamental question: “What determines organization success?” The major academic disciplines that we cover include entrepreneurship, human resource management, international business, organizational behavior, and strategic management. However, manuscripts that belong to other well-established disciplines such as accounting, economics, finance, marketing, and operations generally do not fall into the scope of APJM. We endeavor to be the major vehicle for exchange of ideas and research among management scholars within or interested in the broadly defined Asia Pacific region.Key features include: Rigor - maintained through strict review processes, high quality global reviewers, and Editorial Advisory and Review Boards comprising prominent researchers from many countries. Relevance - maintained by its focus on key management and organizational trends in the region. Uniqueness - being the first and most prominent management journal published in and about the fastest growing region in the world. Official affiliation - Asia Academy of ManagementFor more information, visit the AAOM website:www.baf.cuhk.edu.hk/asia-aom/ Officially cited as: Asia Pac J Manag