Asset stock accumulation and sustainability of competitive advantage
Management Science
Joint ventures and the option to expand and acquire
Management Science
Information systems integration in mergers and acquisitions: a normative model
Information and Management
Organizational Learning: Creating, Retaining, and Transferring Knowledge
Organizational Learning: Creating, Retaining, and Transferring Knowledge
Knowledge and Organization: A Social-Practice Perspective
Organization Science
Do Scientists Pay to Be Scientists?
Management Science
A Knowledge-Based Theory of the Firm--The Problem-Solving Perspective
Organization Science
Evolution of R&D Capabilities: The Role of Knowledge Networks Within a Firm
Management Science
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Acquisition integration is a pivotal factor in determining whether the objectives of an acquisition are achieved. In this paper, we hypothesize that the productivity of corporate scientists of acquired companies is generally impaired by integration, but that some scientists experience more disruption than others. In particular, acquisition integration will be most disruptive, leading to the most severe productivity drops, for those inventors who have lost the most social status and centrality in the combined entity. Drawing from prior literatures on the knowledge-based view of the firm, and on mergers and acquisitions, we develop hypotheses about a concise set of conditions that will lead to substantial performance drops for acquired technical personnel. We test our hypotheses, using patent application data, on a sample of 3,933 inventors in pharmaceutical firms whose companies were acquired. Results are strongly in line with our theorized expectations.