{"title":"Absorptive capacity components: Performance effects in related and unrelated diversification","authors":"Tobias Kretschmer , Pavlos C. Symeou","doi":"10.1016/j.lrp.2024.102416","DOIUrl":"10.1016/j.lrp.2024.102416","url":null,"abstract":"<div><p>We study how firms can benefit from external knowledge resources contingent on absorptive capacity. We separate the three components of absorptive capacity – acquiring, assimilating, and exploiting external knowledge – and posit that the benefits of a firm's knowledge expansion through diversification into related and unrelated business domains differ by the firm's relative emphasis on the three components. We test our predictions on a panel of 153 large US-traded ICT firms. Our analysis broadly supports our hypotheses, highlighting the unique contribution of individual absorptive capacity components to organizational learning through diversification strategy.</p></div>","PeriodicalId":18141,"journal":{"name":"Long Range Planning","volume":"57 2","pages":"Article 102416"},"PeriodicalIF":8.5,"publicationDate":"2024-01-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0024630124000037/pdfft?md5=f81eeeb0bdba22314f29b3e7f30e6b08&pid=1-s2.0-S0024630124000037-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139573880","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Aurangzeab Butt , Faisal Imran , Petri Helo , Jussi Kantola
{"title":"Strategic design of culture for digital transformation","authors":"Aurangzeab Butt , Faisal Imran , Petri Helo , Jussi Kantola","doi":"10.1016/j.lrp.2024.102415","DOIUrl":"10.1016/j.lrp.2024.102415","url":null,"abstract":"<div><p>Industrial organizations need to take a cultural leap in order to integrate social systems with rapidly evolving digital technologies. Subsequently, aspiration for digital transformation enabled by organizational culture is ubiquitous; however, guidance in the literature on how to refresh the culture in pursuit of digital transformation strategy is underdeveloped. We conducted a diagnostic multi-case study on the organization culture in three globally renowned industrial organizations undergoing digital transformation strategy implementation. Through thematic analysis of qualitative data, we identified cultural artefacts, values in action, and assumptions that industrial organizations should refresh to enable digital transformation. It was found that forerunner industrial organizations’ approach to culture is strategically proactive and thoughtful. Furthermore, their leaders employed culture as a social control system for digital technology adoption. The research findings are summarized as an exploratory framework for the strategic design of culture for the purpose, governance, ecosystem, and organization of sociotechnical systems.</p></div>","PeriodicalId":18141,"journal":{"name":"Long Range Planning","volume":"57 2","pages":"Article 102415"},"PeriodicalIF":8.5,"publicationDate":"2024-01-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0024630124000025/pdfft?md5=fb80947ad411a0e117c992c3cbcbffc8&pid=1-s2.0-S0024630124000025-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139436884","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Long Range PlanningPub Date : 2023-12-01Epub Date: 2023-01-09DOI: 10.1177/17585732221150785
Andrea Cozzolino, Paolofrancesco Malfi, Roberto de Giovanni, Alfonso Fedele, Giovanni Rusconi, Amedeo Guarino, Francesco Di Pietto, Raffaele Russo
{"title":"Computed tomography improves the diagnostic accuracy but not the interobserver reliability of the Boileau classification of proximal humerus fracture sequelae.","authors":"Andrea Cozzolino, Paolofrancesco Malfi, Roberto de Giovanni, Alfonso Fedele, Giovanni Rusconi, Amedeo Guarino, Francesco Di Pietto, Raffaele Russo","doi":"10.1177/17585732221150785","DOIUrl":"10.1177/17585732221150785","url":null,"abstract":"<p><strong>Background: </strong>The aim of this study was to investigate the impact of computed tomography on the reliability of Boileau classification for proximal humerus fracture sequelae.</p><p><strong>Methods: </strong>A prospective study was designed using STARD guidelines. We included all patients diagnosed with proximal humerus fracture sequelae who underwent surgery at our institution between 2017 and 2021. Preoperative radiographs and computed tomography scans were reviewed by three independent observers. Intra- and inter-observer reliability and the diagnostic accuracy of radiographs and computed tomography scans in detecting chronic dislocation, nonunion, and severe greater tuberosity dislocation were assessed.</p><p><strong>Results: </strong>Fifty-two patients were included in the study. The overall interobserver agreement was low on both radiographs and computed tomography scans. On radiographic images, we found a sensitivity of 97%, 88.9%, and 84.1%, and a specificity of 58.3%, 40%, and 53.3% to detect chronic dislocation, nonunion, and greater tuberosity dislocation, respectively. On computed tomography scans we reported a sensitivity of 100%, 96.8%, and 93.7%, and a specificity of 91.7%, 86.7%, and 93.3% to detect chronic dislocation, nonunion, and greater tuberosity dislocation, respectively.</p><p><strong>Discussion: </strong>Computed tomography scan was more specific than radiographs in the assessment of proximal humerus fracture sequelae. However, even using a three-dimensional evaluation of the deformity, the Boileau classification had a poor interobserver reliability.</p><p><strong>Level of evidence: </strong>I. Testing previously developed diagnostic criteria in a consecutive series of patients and a universally applied \"gold standard.\"</p>","PeriodicalId":18141,"journal":{"name":"Long Range Planning","volume":"25 1","pages":"634-640"},"PeriodicalIF":7.4,"publicationDate":"2023-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10656970/pdf/","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75183659","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Duncan Angwin, David Kroon, Nicola Mirc, Nuno Oliveira, Shameen Prashantham, Audrey Rouzies, Janne Tienari
{"title":"Mergers and acquisitions research: Time for a theory rejuvenation of the field","authors":"Duncan Angwin, David Kroon, Nicola Mirc, Nuno Oliveira, Shameen Prashantham, Audrey Rouzies, Janne Tienari","doi":"10.1016/j.lrp.2023.102398","DOIUrl":"10.1016/j.lrp.2023.102398","url":null,"abstract":"","PeriodicalId":18141,"journal":{"name":"Long Range Planning","volume":"56 6","pages":"Article 102398"},"PeriodicalIF":8.5,"publicationDate":"2023-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71435950","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Inger G. Stensaker , Helene Loe Colman , Birgitte Grøgaard
{"title":"The dynamics of union-management collaboration during postmerger integration","authors":"Inger G. Stensaker , Helene Loe Colman , Birgitte Grøgaard","doi":"10.1016/j.lrp.2023.102326","DOIUrl":"10.1016/j.lrp.2023.102326","url":null,"abstract":"<div><p>Collaboration between unions and management may facilitate postmerger integration, however collaboration can also be time-consuming and challenging. Using a qualitative case study, we examined union–management collaboration in the integration of two Norwegian firms. The integration was split into two processes, involving different business units. While both processes were designed according to similar principles of collaboration, we observed the emergence of two diverging integration trajectories. Whereas the first process was characterized by a virtuous cycle of trust and constructive collaboration that facilitated integration, the second process turned into a vicious cycle of mistrust and conflict, causing disruption, and impeding integration. Based on our inductive analysis, we identify four distinctive features characterizing the emerging mode of collaboration. We develop a model to illustrate the dynamics of union-management collaboration in postmerger integration. These findings expand the current understanding of merger and acquisition (M&A) dynamics to include a broader set of actors and potential conflict factors in the integration process. Furthermore, our study suggests that collaborative integration processes require careful management while also potentially posing challenges for unions, particularly in the context of historical conflicts.</p></div>","PeriodicalId":18141,"journal":{"name":"Long Range Planning","volume":"56 6","pages":"Article 102326"},"PeriodicalIF":8.5,"publicationDate":"2023-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S002463012300033X/pdfft?md5=89d5b6b9e4937070b5112ef3e7924d44&pid=1-s2.0-S002463012300033X-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44031799","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Revisiting the relatedness hypothesis: The impact of merger relatedness on acquiring and rival firm value","authors":"Joseph A. Clougherty , Tomaso Duso","doi":"10.1016/j.lrp.2023.102325","DOIUrl":"10.1016/j.lrp.2023.102325","url":null,"abstract":"<div><p>Despite intuitive appeal, empirical evidence supporting the relatedness hypothesis has been scant, as it has not been established that related acquisitions generally outperform unrelated acquisitions. In considering the impact of merger relatedness on not only acquiring-firm value – as is standard in the relatedness literature – but also on non-merging rival firm value, we offer an alternative perspective that sidesteps common critiques concerning the detection of the relatedness hypothesis. Specifically, our analytical approach broadens the conception of M&A performance outcomes to allow merger relatedness to impact both acquiring and rival firms. In line with the standard approach to testing relatedness, we find higher acquiring-firm value reactions when merging firms exhibit higher degrees of relatedness; and in line with a more-novel approach to testing relatedness, we find lower rival-firm value reactions when merging firms exhibit higher degrees of relatedness. Thus, by simultaneously examining the impact of relatedness on acquiring-firm and rival-firm value in an integrated manner, the relatedness hypothesis is supported.</p></div>","PeriodicalId":18141,"journal":{"name":"Long Range Planning","volume":"56 6","pages":"Article 102325"},"PeriodicalIF":8.5,"publicationDate":"2023-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48268415","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Mark Thomas , Duncan Angwin , Ioannis C. Thanos , Gazi Islam , Robert Demir
{"title":"Speeds of post-merger integration: The roles of chronos and kairos in M&As","authors":"Mark Thomas , Duncan Angwin , Ioannis C. Thanos , Gazi Islam , Robert Demir","doi":"10.1016/j.lrp.2023.102345","DOIUrl":"10.1016/j.lrp.2023.102345","url":null,"abstract":"<div><p>Mergers and acquisitions (M&A) are major events in organizational development and the post-merger phase is widely recognised as being crucial for value creation. One of the most important decisions in this process is the speed of integration. However, despite a growing body of literature on this subject, conclusions remain a source of persistent equivocality. In fact, this debate has been dominated by diametrically opposed, and often highly normative, views advocating either <em>fast</em> or <em>slow</em> post-merger integration (PMI). One commonality within this discussion though, is the shared assumption that integration proceeds at a linear, constant rate, whatever the speed. We challenge this assumption.</p><p>We undertook a 30-month, longitudinal study of two merging, not-for-profit, organisations. Using detailed and multiple sources of process data, we were able to identify and track periods of comparatively rapid and equally comparatively slower integration during the two-and-a-half- year PMI process. We thus offer a novel empirical demonstration of the changes in speed during the PMI process. We support this with a theoretical discussion using the temporal concepts of <em>chronos</em> and <em>kairos</em>. We analyse the determinants and mechanisms of changes in speed, asking why and how these variations occur. We call this mechanism the <em>kairotic switch</em> and discuss its theoretical and managerial uses and implications.</p></div>","PeriodicalId":18141,"journal":{"name":"Long Range Planning","volume":"56 6","pages":"Article 102345"},"PeriodicalIF":8.5,"publicationDate":"2023-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"50164976","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Learning ‘from’ vs. learning ‘about’ partners in pre-acquisition strategic alliances: The role of familiarity","authors":"Yueling Zhou , Emanuel Gomes , Ferran Vendrell-Herrero","doi":"10.1016/j.lrp.2023.102386","DOIUrl":"10.1016/j.lrp.2023.102386","url":null,"abstract":"<div><p>The relationship between pre-acquisition alliances and post-acquisition performance has been widely recognized, but there are differing explanations from existing theoretical perspectives. On the one hand, organizational learning emphasizes that prior strategic alliances allow the acquiring firm to <em>learn from</em> the target company, gaining new technological knowledge and skills. On the other hand, relational learning focuses on the acquiring firm's understanding of the target firm's working methods, culture, leadership styles, and overall organizational dynamics, i.e., <em>learning about</em> the target, facilitating the formation of psychological contracts and mutual understanding. To reconcile these perspectives, we explore the moderating role of familiarity. While recognizing the importance of acquiring new knowledge and skills in all alliances, we argue that building trust and understanding with the target firm is especially important in pre-acquisition alliances. As a result, post-acquisition performance will be largely influenced by the acquiring firm's familiarity with the partner's context, thereby enhancing the conditions for learning about the partner. We hypothesize that cultural and market familiarity positively moderate the relationship from pre-acquisition alliances and post-acquisition performance. Using data from <span>SDC</span> Platinum, EIKON, and ORBIS, covering 712 majority or full acquisitions, we find strong support for our hypotheses. Specifically, pre-acquisition alliances are most effective in domestic and industrially related acquisitions. Additionally, the benefit of previous strategic alliances diminishes as cultural distance increases. These findings hold up under various matching techniques and have substantial implications for both scholars and practitioners.</p></div>","PeriodicalId":18141,"journal":{"name":"Long Range Planning","volume":"56 6","pages":"Article 102386"},"PeriodicalIF":8.5,"publicationDate":"2023-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0024630123000936/pdfft?md5=87367e17ad869318b397b75689f7e150&pid=1-s2.0-S0024630123000936-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"50164945","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Resource redeployment in corporate acquisitions: Going beyond horizontal acquisitions","authors":"Arkadiy V. Sakhartov , Jeffrey J. Reuer","doi":"10.1016/j.lrp.2022.102287","DOIUrl":"10.1016/j.lrp.2022.102287","url":null,"abstract":"<div><p>Resource redeployment between merging firms is an important way in which corporate acquisitions create value. Such redeployment can occur in horizontal deals when the acquirer and the target are from the same industry, or in non-horizontal deals when the acquirer and the target come from different industries. Although existing research focuses on the former scenario of resource deployment in horizontal acquisitions, resource deployment as a potential source of value in non-horizontal acquisitions has been understudied. This study uses a formal model to develop a theory of resource redeployment that both embraces and contrasts both types of acquisitions to offer new insights. The study concludes that the focus on horizontal acquisitions misses M&A contexts in which resource redeployment can create the highest value. Results from the model also demonstrate that acquisition performance has an inverse U-shaped relationship with relatedness between the merging firms. Finally, the effect of relatedness critically depends on the asymmetry in returns between the merging firms. These results are important for future empirical studies of acquisition performance and of target selection and are instructive to corporate managers seeking targets and managing potential redeployment of resources across organizations via M&A.</p></div>","PeriodicalId":18141,"journal":{"name":"Long Range Planning","volume":"56 6","pages":"Article 102287"},"PeriodicalIF":8.5,"publicationDate":"2023-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41848148","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Faisal M. Ahsan , Sathyajit R. Gubbi , Manish Popli
{"title":"Do board interlocks affect the frequency and pace of cross-border acquisitions by emerging market firms?","authors":"Faisal M. Ahsan , Sathyajit R. Gubbi , Manish Popli","doi":"10.1016/j.lrp.2023.102346","DOIUrl":"10.1016/j.lrp.2023.102346","url":null,"abstract":"<div><p>In emerging markets, where strategic information is hard to obtain and often unreliable, how local firms acquire information to execute cross-border acquisitions is unclear. In this paper, we posit that when the market for information is weak, and firms lack experiential knowledge, board interlocks with other cross-border acquirers affect the frequency and pace of cross-border acquisitions. Furthermore, we anticipate board interlock efficacy to decline with the focal firm's firsthand experience (substitution effect) and foreign institutional investors (FIIs) equity holding in the local firm (self-disciplining effect). We find support for our hypotheses in a large sample of Indian firms for the period 2003–2014. Our paper contributes to mergers and acquisitions and emerging markets literature.</p></div>","PeriodicalId":18141,"journal":{"name":"Long Range Planning","volume":"56 6","pages":"Article 102346"},"PeriodicalIF":8.5,"publicationDate":"2023-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45958244","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}