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Attributional tendencies in cultural explanations of M&A performance

Research output: Contribution to Journal/MagazineJournal articlepeer-review

  • Eero Vaara
  • Paulina Junni
  • Riikka M. Sarala
  • Mats Ehrnrooth
  • Alexei Koveshnikov
<mark>Journal publication date</mark>2014
<mark>Journal</mark>Strategic Management Journal
Issue number9
Number of pages15
Pages (from-to)1302-1317
Publication StatusPublished
Early online date31/07/13
<mark>Original language</mark>English


This paper focuses on managers' attributions of M&A performance. Our analysis indicates that there is a linear association between performance and attributions to cultural differences, which is moderated by prior experience. Furthermore, our results suggest that there is a curvilinear association between performance and attributions to managers' actions, but we found no support for the moderating effect of experience for this association. By substantiating these attributional tendencies, our results contribute to research on M&As and studies on attribution more generally. In particular, our study helps to put cultural differences in perspective and cautions researchers and practitioners alike to avoid simplistic explanations of M&A performance.