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    Rights statement: This is the author’s version of a work that was accepted for publication in Journal of World Business. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in Journal of World Business, 55, 2020 DOI: 10.1016/j.jwb.2018.03.002101.1016/j.jwb.2018.03.002

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The impact of industry-wide and target market environmental hostility on entrepreneurial leadership in mergers and acquisitions

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The impact of industry-wide and target market environmental hostility on entrepreneurial leadership in mergers and acquisitions. / Strobl, Andreas; Bauer, Florian; Matzler, Kurt.

In: Journal of World Business, Vol. 55, No. 2, 100931, 29.02.2020.

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@article{59e818455fbe4eddaf56f2e5d44ab8a8,
title = "The impact of industry-wide and target market environmental hostility on entrepreneurial leadership in mergers and acquisitions",
abstract = "Based on survey data from 115 acquisitions completed between 2008 and 2011 by European acquirers from German-speaking countries, we find evidence that entrepreneurial leadership is a strong predictor of exploration and a weaker but significant driver of exploitation outcomes following M&A. Industry-wide environmental hostility negatively impacts the influence of entrepreneurial leadership on exploitation. Target market environmental hostility negatively impacts the influence of entrepreneurial leadership on exploration. Thus, while entrepreneurial leadership is a key success factor of M&A performance by increasing both, post-merger exploration and exploitation, acquirers need to take environmental conditions at the industry and market level into account.",
keywords = "Entrepreneurial leadership, Environmental hostility, Exploitation, Exploration, Mergers and acquisitions, Post-merger integration",
author = "Andreas Strobl and Florian Bauer and Kurt Matzler",
note = "This is the author{\textquoteright}s version of a work that was accepted for publication in Journal of World Business. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in Journal of World Business, 55, 2020 DOI: 10.1016/j.jwb.2018.03.002101.1016/j.jwb.2018.03.002",
year = "2020",
month = feb,
day = "29",
doi = "10.1016/j.jwb.2018.03.002",
language = "English",
volume = "55",
journal = "Journal of World Business",
issn = "1090-9516",
publisher = "Elsevier Inc.",
number = "2",

}

RIS

TY - JOUR

T1 - The impact of industry-wide and target market environmental hostility on entrepreneurial leadership in mergers and acquisitions

AU - Strobl, Andreas

AU - Bauer, Florian

AU - Matzler, Kurt

N1 - This is the author’s version of a work that was accepted for publication in Journal of World Business. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in Journal of World Business, 55, 2020 DOI: 10.1016/j.jwb.2018.03.002101.1016/j.jwb.2018.03.002

PY - 2020/2/29

Y1 - 2020/2/29

N2 - Based on survey data from 115 acquisitions completed between 2008 and 2011 by European acquirers from German-speaking countries, we find evidence that entrepreneurial leadership is a strong predictor of exploration and a weaker but significant driver of exploitation outcomes following M&A. Industry-wide environmental hostility negatively impacts the influence of entrepreneurial leadership on exploitation. Target market environmental hostility negatively impacts the influence of entrepreneurial leadership on exploration. Thus, while entrepreneurial leadership is a key success factor of M&A performance by increasing both, post-merger exploration and exploitation, acquirers need to take environmental conditions at the industry and market level into account.

AB - Based on survey data from 115 acquisitions completed between 2008 and 2011 by European acquirers from German-speaking countries, we find evidence that entrepreneurial leadership is a strong predictor of exploration and a weaker but significant driver of exploitation outcomes following M&A. Industry-wide environmental hostility negatively impacts the influence of entrepreneurial leadership on exploitation. Target market environmental hostility negatively impacts the influence of entrepreneurial leadership on exploration. Thus, while entrepreneurial leadership is a key success factor of M&A performance by increasing both, post-merger exploration and exploitation, acquirers need to take environmental conditions at the industry and market level into account.

KW - Entrepreneurial leadership

KW - Environmental hostility

KW - Exploitation

KW - Exploration

KW - Mergers and acquisitions

KW - Post-merger integration

U2 - 10.1016/j.jwb.2018.03.002

DO - 10.1016/j.jwb.2018.03.002

M3 - Journal article

VL - 55

JO - Journal of World Business

JF - Journal of World Business

SN - 1090-9516

IS - 2

M1 - 100931

ER -