TY - JOUR
T1 - The effectiveness of alliances and acquisitions
T2 - The role of resource combination activities
AU - Wiklund, Johan
AU - Shepherd, Dean A.
PY - 2009
Y1 - 2009
N2 - Resource complementarity increases the potential value of alliances and acquisitions, but the extent to which the value potential of an alliance or an acquisition becomes realized depends on the ability of the firm to discover and conduct productive resource combinations. Using a sample of 319 small firms, we separate domestic from international alliances and acquisitions and show that alliances and acquisitions bring limited benefits to firms unless deliberate effort is devoted to resource combination. These findings help resolve conflicts in the resource-based literature concerning the benefits of alliances and acquisitions.
AB - Resource complementarity increases the potential value of alliances and acquisitions, but the extent to which the value potential of an alliance or an acquisition becomes realized depends on the ability of the firm to discover and conduct productive resource combinations. Using a sample of 319 small firms, we separate domestic from international alliances and acquisitions and show that alliances and acquisitions bring limited benefits to firms unless deliberate effort is devoted to resource combination. These findings help resolve conflicts in the resource-based literature concerning the benefits of alliances and acquisitions.
UR - http://www.scopus.com/inward/record.url?scp=58149284263&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=58149284263&partnerID=8YFLogxK
U2 - 10.1111/j.1540-6520.2008.00286.x
DO - 10.1111/j.1540-6520.2008.00286.x
M3 - Article
AN - SCOPUS:58149284263
SN - 1042-2587
VL - 33
SP - 193
EP - 212
JO - Entrepreneurship: Theory and Practice
JF - Entrepreneurship: Theory and Practice
IS - 1
ER -