The performance impact of strategic similarity in horizontal mergers: Evidence from the U.S. banking industry

Academy of Management Journal

Volumn 40, Issue 3, 1997, Pages 697-715

  Ramaswamy, Kannan ^a  

^a NONE

Author keywords

[No Author keywords available]

Indexed keywords

EID: 0031510163     PISSN: 00014273     EISSN: None     Source Type: Journal    
DOI: 10.2307/257059     Document Type: Article

References (49)

1. Allison, P. D. 1990. Change scores as dependent variables in regression analysis. In C. C. Clogg (Ed.), Sociological methodology: 93-114. Oxford: Basil Blackwell.
2. Bowden E. V. 1980. Revolution in banking. Richmond, VA: Robert F. Dame.
3. Buono, A. F., & Bowditch, J. L. 1989. The human side of mergers and acquisitions. San Francisco: Jossey Bass.
4. Chatterjee, S. 1986. Types of synergy and economic value: The impact of acquisitions on merging and rival firms. Strategic Management Journal, 7: 119-139.
5. Chatterjee, S., Lubatkin, M. H., Schweiger, D. M., & Weber, Y. 1992. Cultural differences and shareholder value in related mergers: Linking equity and human capital. Strategic Management Journal, 13: 319-334.
6. Chatterjee, S., & Wernerfelt, B. 1988. Related or unrelated diversification: A resource based approach. Academy of Management Best Paper Proceedings: 7-11.
7. Choi, D., & Philipatos, G. C. 1983. An examination of merger synergism. Journal of Financial Research, 6: 239-256.
8. Clark, J. A. 1988. Economies of scale and scope at depository financial institutions: A review of the literature. Economic Review, 73 (Sept.-Oct.): 15-33.
9. Cohen, J., & Cohen, P. 1983. Applied multiple regression/correlation analysis for the behavioral sciences. Hillsdale, NJ: Erlbaum.
10. Compton, E. N. 1991. Principles of banking. Washington, DC: American Bankers Association.
11. Cronbach, L. J., & Furby, L. 1970. How should we measure "change" - Or should we? Psychological Bulletin, 74: 68-80.
12. Datta, D. K., Grant, J. H., & Rajagopalan, N. 1991. Management incompatibility and postacquisition autonomy: Effects on acquisition performance. In P. Shrivatsava (Ed.), Advances in strategic management, vol. 7: 157-182. Greenwich, CT: JAI Press.
13. Dess, G. G., & Davis, P. S. 1984. Porter's (1980) generic strategies as determinants of strategic group membership and organizational performance. Academy of Management Journal, 27: 467-488.
14. Drazin, R., & Van de Ven, A. H. 1985. Alternative forms of fit in contingency theory. Administrative Science Quarterly, 30: 514-539.
15. Eckbo, B. E. 1980. Horizontal mergers, collusion, and stockholder wealth. Journal of Financial Economics, 11: 241-273.
16. Harrison, J. S., Hall, E. H., Jr., & Nargundkar, R. 1993. Resource allocation as an outcropping of strategic consistency: Performance implications. Academy of Management Journal, 36: 1026-1051.
17. Harrison, J. S., Hitt, M. A., Hoskisson, R. E., & Ireland, R. D. 1991. Synergies and post-acquisition performance: Differences versus similarities in resource allocations. Journal of Management, 17: 173-190.
18. Hawawini, G. A., & Swary, I. 1990. Mergers and acquisitions in the U.S. banking industry: Evidence from the capital markets. Amsterdam: North-Holland.
19. Hempel, G. H., Coleman, A. B., & Simonson, D. G. 1986. Bank management. New York: Wiley.
20. Hopkins, D. H. 1987. Long-term acquisition strategies in the U.S. economy. Journal of Management, 13: 557-572.
21. Ingham, H., Kran, I., & Lovestam, A. 1992. Mergers and profitability: A managerial success story? Journal of Management Studies, 29: 195-208.
22. Jemison, D. B., & Sitkin, S. B. 1986. Corporate acquisitions: A process perspective. Academy of Management Review, 11: 145-163.
23. Jensen, M. C., & Ruback, R. S. 1983. The market for corporate control - The scientific evidence. Journal of Financial Economics, 11: 3-50.
24. Kiesler, S., & Sproull, L. 1982. Managerial response to changing environments: Perspectives and problem sensing from social cognition. Administrative Science Quarterly, 37: 548-570.
25. Kusewitt, J. 1985. An exploratory study of strategic acquisition factors relating to performance. Strategic Management Journal, 6: 151-169.
26. Lubatkin, M. 1983. Mergers and the performance of the acquiring firm. Academy of Management Review, 8: 218-225.
27. Lubatkin, M. 1987. Merger strategies and stockholder value. Strategic Management Journal, 8: 39-53.
28. Lubatkin, M., & Lane, P. J. 1996. Psst . . . The merger mavens still have it wrong! Academy of Management Executive, 10(1): 21-37.
29. Meeks, G., & Meeks, J. G. 1981. Profitability measures as indicators of post-merger efficiency. Journal of Industrial Economics, 29: 335-344.
30. Miles, R. E., & Snow, C. C. 1978. Organizational strategy, structure, and process. New York: McGraw-Hill.
31. Miller, D., & Friesen, P. H. 1978. Archetypes of strategy formulation. Management Science, 24: 921-933.
32. Nahavandi, A., & Malekzadeh, A. R. 1993. Organizational culture in the management of mergers. Westport, CT: Quorum.
33. Panzar, J. C., & Willig, R. D. 1981. Economies of scope. American Economic Review, 71: 268-272.
34. Porter, M. E. 1980. Competitive strategy: Techniques for analyzing industries and competitors. New York: Free Press.
35. Post, A. M. 1994. Anatomy of a merger: The causes and effects of mergers and acquisitions. Englewood Cliffs, NJ: Prentice-Hall.
36. Prahalad, C. K., & Bettis, R. A. 1986. The dominant logic: A new linkage between diversity and performance. Strategic Management Journal, 7: 485-501.
37. Ravenscraft, D. J., & Scherer, F. M. 1987. Mergers, sell-offs, and economic efficiency. Washington, DC: Brookings Institution.
38. Rogers, D. 1993. The future of American banking: Managing for change. New York: McGraw-Hill.
39. Rose, P. S. 1988. Characteristics of merging banks in the United States: Theory, empirical results, and implications for public policy. Review of Business and Economic Research, 24: 1-19.
40. Rose, P. S. 1989. The interstate banking revolution: Benefits, risks, and tradeoffs for bankers and consumers. Westport, CT: Quorum.
41. Roussakis, E. N. 1989. Commercial banking in an era of deregulation. New York: Praeger.
42. Salter, M., & Weinhold, W. 1979. Diversification through acquisition: Strategies for creating economic value. New York: Free Press.
43. Shelton, L. M. 1988. Strategic business fits and corporate acquisitions: Empirical evidence. Strategic Management Journal, 9: 279-287.
44. Singh, H., & Montgomery, C. A. 1987. Corporate acquisition strategies and economic: performance. Strategic Management Journal, 8: 377-386.
45. Snow, C. C., & Hrebiniak, L. G. 1980. Strategy, distinctive competence and organizational performance. Administrative Science Quarterly, 25: 317-336.
46. Stemper, R. G. 1990. The guide to successful consumer banking strategy. New York: Wiley.
47. Thomas, A. S., Litschert, R. J., & Ramaswamy, K. 1990. The performance impact of strategy-manager coalignment: An empirical examination. Strategic Management Journal, 12: 509-522.
48. Wernerfelt, B. 1984. A resource-based view of the firm. Strategic Management Journal, 5: 171-180.
49. Zajac, E. J., & Shortell, S. M. 1989. Changing generic strategies: Likelihood, direction, and performance implications. Strategic Management Journal, 10: 413-430.