When do firms learn from their acquisition experience? Evidence from 1990 to 1995
@article{Hayward2002WhenDF,
title={When do firms learn from their acquisition experience? Evidence from 1990 to 1995},
author={Mathew L. A. Hayward},
journal={Southern Medical Journal},
year={2002},
volume={23},
pages={21-39}
}I use an organizational learning perspective to examine how the nature, performance and timing of a firm's acquisition experience helps it to learn how to select the right acquisition. I predict the performance of 214 acquisitions made by 120 firms in 6 industries between 1990 and 1995. Results show that a firm's focal acquisition performance positively relates to prior acquisitions that are a) not highly similar or dissimilar to the focal acquisition, b) associated with small losses and c) not… CONTINUE READING
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