The effectiveness of alliances and acquisitions: The role of resource combination activities

Johan Wiklund, Dean A. Shepherd

Research output: Contribution to journalArticle

61 Scopus citations

Abstract

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.

Original languageEnglish (US)
Pages (from-to)193-212
Number of pages20
JournalEntrepreneurship: Theory and Practice
Volume33
Issue number1
DOIs
StatePublished - Jan 13 2009

ASJC Scopus subject areas

  • Business and International Management
  • Economics and Econometrics

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