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    Rights statement: This is the peer reviewed version of the following article: Retaliation Effectiveness and Acquisition Performance: The Influence of Managerial Decisions and Industry Context. doi: 10.1111/1467-8551.12480 which has been published in final form at http://onlinelibrary.wiley.com/doi/10.1111/1467-8551.12480/abstract This article may be used for non-commercial purposes in accordance With Wiley Terms and Conditions for self-archiving.

    Accepted author manuscript, 386 KB, PDF document

    Embargo ends: 3/02/23

    Available under license: CC BY-NC: Creative Commons Attribution-NonCommercial 4.0 International License

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Retaliation effectiveness and acquisition performance: the influence of managerial decisions and industry context

Research output: Contribution to journalJournal articlepeer-review

E-pub ahead of print
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<mark>Journal publication date</mark>8/02/2021
<mark>Journal</mark>British Journal of Management
Number of pages19
Publication StatusE-pub ahead of print
Early online date8/02/21
<mark>Original language</mark>English

Abstract

Despite extensive interest in how acquisitions can increase firm competitiveness, research has given competitive retaliation to acquisitions limited attention. Consistent with process research on managerial decisions during acquisitions, we simultaneously consider the effects of retaliation and internal integration decisions on retaliation effectiveness and acquisition performance. From an international survey in Europe, we demonstrate how managerial integration decisions and the external environment influence retaliation effectiveness to acquisitions and their performance. Specifically, longer integration duration and an open M&A strategy are associated with increased retaliation effectiveness. Meanwhile, a high-level of industry M&A activity lowers it. We also confirm that increased retaliation effectiveness is associated with lower acquisition performance. These findings help balance an internal focus in acquisition research, and they clarify the performance implications of acquirer choices that may lead to competitive retaliation effectiveness, as predicted by competitive dynamics research.

Bibliographic note

This is the peer reviewed version of the following article: Retaliation Effectiveness and Acquisition Performance: The Influence of Managerial Decisions and Industry Context. doi: 10.1111/1467-8551.12480 which has been published in final form at http://onlinelibrary.wiley.com/doi/10.1111/1467-8551.12480/abstract This article may be used for non-commercial purposes in accordance With Wiley Terms and Conditions for self-archiving.