Integrating Relative Standing and Market Discipline : A Complexity Theory Perspective of Post-Merger and Acquisition Executive Departure
Research output: Chapters, Conference Papers, Creative and Literary Works (RGC: 12, 32, 41, 45) › 12_Chapter in an edited book (Author) › peer-review
Author(s)
Related Research Unit(s)
Detail(s)
Original language | English |
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Title of host publication | Advances in Mergers and Acquisitions |
Editors | Sydney Finkelstein, Cary L. Cooper |
Place of Publication | Bingley, U.K. |
Publisher | Emerald Group Publishing Ltd. |
Pages | 181-197 |
Volume | 11 |
ISBN (Electronic) | 9781781904602 |
ISBN (Print) | 9781781904596 |
Publication status | Published - 2012 |
Publication series
Name | Advances in Mergers and Acquisitions |
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Volume | 11 |
ISSN (Print) | 1479-361X |
Link(s)
Abstract
Mergers and acquisitions (M&As) typically accelerate target top management team (TMT) executive departures. Market discipline and Relative Standing are two major and competing economic and sociological explanations for this phenomenon which lack a satisfactory theoretical integration. To fill this gap in the literature, we model the M&A market as a complex adaptive system composed of TMTs which rid themselves of executives via self-organized critical processes, generating M&A market-level properties that are emergent, or not easily explained with reference to the individual TMTs. The observation of an emergent power law distribution in target TMT executive retention rates for M&A activities in the United States supports our interpretation.
Research Area(s)
- Complex adaptive systems, Mergers and acquisitions, Power law distribution, Self-organized criticality, Top management teams
Citation Format(s)
Integrating Relative Standing and Market Discipline : A Complexity Theory Perspective of Post-Merger and Acquisition Executive Departure. / Iriyama, Akie; Park, Jason W.; Supriyadi, Franky; Yang, Haibin.
Advances in Mergers and Acquisitions. ed. / Sydney Finkelstein; Cary L. Cooper. Vol. 11 Bingley, U.K. : Emerald Group Publishing Ltd., 2012. p. 181-197 (Advances in Mergers and Acquisitions; Vol. 11).Research output: Chapters, Conference Papers, Creative and Literary Works (RGC: 12, 32, 41, 45) › 12_Chapter in an edited book (Author) › peer-review