National corporate governance institutions and post‐acquisition target reorganization

Market for Corporate Control and Contractual Buyout (CoBO): A New 'Collective Ownership-and-Administrative' Strategy

“…We review the exhaustive literature contributed by western authors in specific and recent studies in general on various key issues of inorganic choices such as joint ventures, alliances, networks, mergers, acquisitions, takeovers, LBOs, management buyouts, partnerships, and so forth (e.g., Ariño and Ring, 2010;Capron and Guillén, 2009;Elango and Pattnaik, 2011;Fjeldstad et al, 2012;Pe'er and Gottschalg, 2011;Slangen, 2011;Villalonga and Mcgahan, 2005). We further comprehend the previous studies on definite strategies such as diversification, turnaround, and foreign market entry modes (e.g., Bruton et al, 2003;Chakrabarti et al, 2007;Hennart and Reddy, 1997;Matusik and Fitza, 2012;Oh and Contractor, 2012;Reddy, 2015bReddy, , 2015c.…”

“…Earlier research on M&A proven that cultural diversity influence socio-culture amalgamation, synergy insight, and shareholder value (Stahl and Voight, 2008) while achieving post-integration planning and administration goals. More importantly, postacquisition process is rarely smooth because in acquiring a new bundle of assets and capabilities, the company also inherits the way in which the target is embedded in its institutional environment (Capron and Guillén, 2009). Hence, the proposed model helps acquirers to gain on-screen experience (Dating-before-Merging) with target firm during CoBO deed.…”

A Fresh Look at Decision Making in International Investment Choices: Firm International Coherence and Home-Host Country Relatedness

“…For example, one classification has used the product, financial and labor market institutions (e.g., Chacar, Newbury & Vissa, 2010;Khanna & Palepu, 1997). Guillén and Suárez (2005) identify five main approaches to the study of institutional context of multinational activity: cross-cultural (Hofstede, 1980(Hofstede, , 1991Kogut & Singh, 1988), comparative authority and business systems (Whitley, 1992;Zaheer & Zaheer, 1997), political economy of FDI (Gereffi, 1989(Gereffi, , 1990, comparative corporate legal traditions (Aguilera, Filatotchev, Gospel, & Jackson, 2008;Capron & Guillén, 2009;La Porta, Lopez-de-Silanes, Shleifer, & Vishny, 1998;La Porta, Lopezde-Silanes, Shleifer, 1999), and political and contractual hazards (Delios & Henisz, 2000;Henisz & Williamson, 1999;Henisz, , 2000a. Other authors emphasize the importance of combining different dimensions (Berry et al, 2010;Dow & Karunaratna, 2006).…”

What Does Board Capital Really Bring to the Table? Exploring the Effect of Directors’ Human and Social Capital on Effective Governance During International Expansion

“…The post-acquisition process revolves around reorganization, and this process is complex and demanding on acquiring firms' resources and capabilities. This is because not only must the firm figure out how to reorganize and integrate a new bundle of assets with existing ones, but it must also manage differences in organizational and national culture while also managing important relationships with key stakeholders such as shareholders and employees (Capron & Guillen, 2009;Haveman and Cohen, 1994;Larsson and Finkelstein, 1999). Managing such relationships may be further complicated by the unfamiliar institutional environment in which the target firm is embedded (Capron & Guillen, 2009).…”

“…This is because not only must the firm figure out how to reorganize and integrate a new bundle of assets with existing ones, but it must also manage differences in organizational and national culture while also managing important relationships with key stakeholders such as shareholders and employees (Capron & Guillen, 2009;Haveman and Cohen, 1994;Larsson and Finkelstein, 1999). Managing such relationships may be further complicated by the unfamiliar institutional environment in which the target firm is embedded (Capron & Guillen, 2009). Active management of organizational cultural integration during all stages of an acquisition becomes necessary to successfully integrate the two firms (Applebaum & Gandell, 2003).…”