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

Strobl, Andreas and Bauer, Florian and Matzler, Kurt (2020) The impact of industry-wide and target market environmental hostility on entrepreneurial leadership in mergers and acquisitions. Journal of World Business, 55 (2). ISSN 1090-9516

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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.

Item Type:
Journal Article
Journal or Publication Title:
Journal of World Business
Additional Information:
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
Uncontrolled Keywords:
/dk/atira/pure/subjectarea/asjc/1400/1406
Subjects:
ID Code:
125391
Deposited By:
Deposited On:
19 Jun 2018 15:32
Refereed?:
Yes
Published?:
Published
Last Modified:
25 Sep 2020 03:43