The transformation and survival of fortune 500 industrial corporations through mergers and acquisitions, 1981-1995

Sociological Quarterly

Volumn 42, Issue 3, 2001, Pages 461-486

  Zey, Mary ^a   Swenson, Tami ^a  

^a TEXAS A AND M UNIVERSITY   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 0035539349     PISSN: 00380253     EISSN: None     Source Type: Journal    
DOI: 10.1111/j.1533-8525.2001.tb02410.x     Document Type: Article

References (87)

1. Aldrich, Howard E., and E. R. Auster. 1986. "Even Dwarfs Started Small: Liabilities of Age and Size and Their Strategic Implications." Pp. 165-198 in Research in Organizational Behavior, vol. 8, edited by B. M. Staw and L. L. Cummings. Greenwich, CT: JAI Press.
2. Aldrich, Howard, and Jeffrey Pfeffer. 1976. "Environments of Organizations." Annual Review of Sociology 2:79-105.
3. Allison, John, Robert Prentice, and Rate Howell. 1991. Business Law. Chicago: Dryden Press.
4. Allison, Paul D. 1984. Event History Analysis: Regression for Longitudinal Event Data. Beverly Hills, CA: Sage.
5. Barber, Brad, Donald Palmer, and Jim Wallace. 1995. "Determinates of Conglomerate and Predatory Acquisitions during the 1960s." Journal of Corporate Finance 1:283-318.
6. Barnett, William P., and Terry L. Amburgey. 1990. "Do Large Organizations Generate Stronger Competition?" Pp. 787-802 in Organizational Evolution: New Directions edited by J. V. Singh. Newbury Park, CA: Sage.
7. Barron, David N., Elizabeth West, and Michael T. Hannan. 1994. "A Time to Grow and a Time to Die: Growth and Mortality of Credit Unions in New York City, 1914-1990." American Journal of Sociology 100:381-421.
8. Bhagat, Sanjai, Andrei Shleifer, and Robert W. Vishny. 1990. "Hostile Takeovers in the 1980s: The Return of Corporate Specialization." Pp. 1-84 in Brookings Papers on Economic Activity: Microeconomics edited by M. N. Baily and C. Winston. Washington, DC: Brookings Institution.
9. Blair, Margaret M., and Girish Uppal. 1993. The Deal Decade Handbook. Washington, DC: Brookings Institution.
10. Blau, Peter M. 1970. "A Formal Theory of Differentiation in Organizations." American Sociological Review 35:201-218.
11. Blau, Peter M., and Richard Schoenherr. 1971. The Structure of Organizations. New York: Basic Books.
12. Bowles, Samuel, and Richard Edwards. 1985. Understanding Capitalism. New York: Harper and Row.
13. Bowles, Samuel, David Gordon, and Thomas Weisskopf. 1983. Beyond the Wasteland. New York: Anchor Press.
14. Chandler, Alfred D., Jr. 1962. Strategy and Structure: Chapters in the History of American Industrial Enterprise. Cambridge, MA: MIT Press.
15. _. 1977. The Visible Hand: The Managerial Revolution in American Business. Cambridge, MA: Belknap Press of Harvard University Press.
16. _. 1990a. "The Enduring Logic of Industrial Success." Harvard Business Review 68:130-140.
17. _. 1990b. Scale and Scope. Cambridge, MA: Belknap Press of Harvard University Press.
18. _. 1991. "Corporate Strategy and Structure: Some Current Considerations." Society 28:35-38.
19. _. 1992. "The Emergence of Managerial Capitalism." Harvard Business School Case no. 9-384-081, revised by Thomas J. McCraw.
20. Child, John. 1972. "Organization Structure and Strategies of Control: A Replication of the Aston Study." Administrative Science Quarterly 17:163-177.
21. Coffee, John C., Jr. 1988. "Shareholders versus Managers: The Strain in the Corporate Web." Pp. 77-134 in Knights, Raiders, and Targets: The Impact of the Hostile Takeover edited by J. C. Coffee Jr., L. Lowenstein, and S. Rose-Ackerman. New York: Oxford University Press.
22. Daems, Herman. 1983. "The Rise of the Modern Enterprise." Pp. 203-223 in Managerial Hierarchies: Comparative Perspectives on the Rise of the Modern Industrial Enterprise edited by Alfred Chandler and Herman Daems. Cambridge, MA: Harvard University Press.
23. Davis, Gerald F., Kristina A. Diekmann, and Catherine H. Tinsley. 1994. "The Decline and Fall of the Conglomerate Firm in the 1980s: The Deinstitutionalization of an Organization Form." American Sociological Review 59:547-570.
24. Davis, Gerard F., and Suzanne K. Stout. 1992. "Organization Theory and the Market for Corporate Control: A Dynamic Analysis of the Characteristics of Large Takeover Targets, 1980-1990." Administrative Science Quarterly 37:605-633.
25. DiMaggio, Paul, and Walter Powell. 1983. "The Iron Cage Revisited." American Sociological Review 48:147-160.
26. Fligstein, Neil. 1985. "The Spread of the Multidivisional Form among Large Firms, 1919-1979." American Sociological Review 50:377-391.
27. _. 1990. The Transformation of Corporate Control. Cambridge, MA: Harvard University Press.
28. Fligstein, Neil, and Peter Brantley. 1992. "Bank Control, or Organizational Dynamics: Who Controls the Large Modern Corporation?" American Journal of Sociology 98:280-307.
29. Gordon, David. 1996. Fat and Mean: The Corporate Squeeze of Working Americans and the Myth of Managerial Downsizing. New York: Free Press.
30. Gordon, David, Richard Edwards, and Michael Reich. 1982. Segmented Work, Divided Workers. Cambridge, MA: Cambridge Press.
31. Greider, W. 1987. Secrets of the Temple. New York: Simon and Schuster.
32. _. 1997. One World Ready or Not. New York: Simon and Schuster.
33. Hage, Jerald, and Michael Aiken. 1970. Social Change in Complex Organizations. New York: Random House.
34. Hannan, Michael T., and Glenn R. Carroll. 1995. "Theory Building and Cheap Talk about Legitimation: Reply to Baum and Powell." American Sociological Review 60:539-544.
35. Hinings, C. R., and G. L. Lee. 1971. "Dimensions of Organization Structure and Their Context: A Replication." Sociology 5:83-93.
36. Hirschman, Albert. 1970. Exit, Voice and Loyalty: Responses to Decline in Firms, Organizations and States. Cambridge, MA: Harvard University Press.
37. Hitt, Michael A., Robert E. Hoskisson, R. Duane Ireland, and Jeffrey S. Harrison. 1991. "Are Acquisitions a Poison Pill for Innovation?" Academy of Management Executive 5:22-34.
38. Hoskisson, Robert E., and Michael Hitt. 1994. Downscoping: How to Tame the Diversified Firm. New York: Oxford University Press.
39. Jacquemin, A. P., and C. H. Berry. 1979. "Entropy Measure of Diversification and Corporate Growth." Journal of Industrial Economics 27:359-369.
40. Jensen, Michael. 1984. "Takeovers: Folklore and Science." Harvard Business Review November 62:109-121.
41. _. 1993. "Presidential Address: The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems." Journal of Finance 48:831-880.
42. Kotz, David, Terrence McDonough, and Michael Reich. 1994. Social Structures of Accumulation. Cambridge, MA: Cambridge Press.
43. Lazonick, William. 1992. Business Organization and the Myth of the Market Economy. Cambridge, MA: Cambridge Press.
44. Markides, Constantinos C. 1995. Diversification, Refocusing, and Economic Performance. Cambridge, MA: MIT Press.
45. Meyer, John, and Brian Rowan. 1977. "Institutional Organizations: Formal Structure and Myth and Ceremony." American Journal of Sociology 83:340-363.
46. Mintz, Beth, and Michael Schwartz. 1985. The Power Structure of American Business. Chicago: University of Chicago Press.
47. Mizruchi, Mark. 1982. The American Corporate Network, 1904-1974. Beverly Hills, CA: Sage.
48. Mizruchi, Mark, and Linda Brewster Stearns. 1986. "Organizational Responses to Capital Dependence: A Time Series Analysis." Paper presented at the annual meeting of the American Sociological Association, New York.
49. _. 1988. "A Longitudinal Study of Interlocking Directorates." Administrative Science Quarterly 33:194-210.
50. _. 1994. "A Longitudinal Study of Borrowing by Large American Corporations." Administrative Science Quarterly 39:118-140.
51. Morck, R., A. Shleifer, and R. Vishny. 1988. "Characteristics of Targets of Hostile and Friendly Takeovers." Pp. 101-106 in Corporate Takeovers: Causes and Consequences edited by A. J. Auerbach. Chicago: University of Chicago Press.
52. O'Connor, James. 1984. Accumulation Crisis. New York: Basil Blackwell.
53. Palepu, Krishna G. 1986. "Predicting Takeover Targets: A Methodological and Empirical Analysis." Journal of Accounting and Economics 8:3-35.
54. Palmer, Donald, Xueguang Zhou, Brad M. Barber, and Yasemin Soysal. 1995. "The Friendly and Predatory Acquisition of Large U.S. Corporations in the 1960s: The Other Contested Terrain." American Sociological Review 60:469-499.
55. Palmer, Donald, P. Devereaux Jennings, and Xueguang Zhou. 1993. "Late Adoption of the Multidivisional Form by Large U.S. Corporations: Institutional, Political and Economic Accounts." Administrative Science Quarterly 38:100-131.
56. Peterson, Trond, and Kenneth W. Koput. 1991. "Density Dependence in Organizational Mortality: Legitimacy or Unobserved Heterogeneity?" American Sociological Review 56:399-409.
57. Pfeffer, Jeffrey, and Gerald Salancik. 1978. The External Control of Organizations: A Resource Dependence Perspective. New York: Harper and Row.
58. Porter, Michael E. 1987. "From Competitive Advantage to Corporate Strategy." Harvard Business Review 65:43-59.
59. Poulantzas, Nicos. 1978. Classes in Contemporary Capitalism. London: Verso.
60. Ranger-Moore, James. 1997. "Organizational Age, Size, and Failure in the Life Insurance Industry." American Sociological Review 62:903-920.
61. Ravenscraft, David J., and F. M. Scherer. 1987. Mergers, Sell-Offs, and Economic Efficiency. Washington, DC: Brookings Institution.
62. Roy, William G. 1997. Socializing Capital: The Rise of the Large Industrial Corporation in America. Princeton, NJ: Princeton University Press.
63. Rumelt, Richard. 1974. Strategy, Structure, and Economic Performance. Boston, MA: Harvard Business School.
64. Soffer, L. C. 1991. "Financial Statement Indicators of Takeover Targets: A Multinomial Analysis." Unpublished paper, Haas School of Business, University of California, Berkeley.
65. Starbuck, William H. 1983. "Organizations as Action Generators." American Sociological Review 48:91-102.
66. Stearns, Linda Brewster, and Kenneth D. Allan. 1996. "Economic Behavior in Institutional Environments: The Corporate Merger Wave of the 1980s." American Sociological Review 61:699-718.
67. Tilly, Charles. 1981. As Sociology Meets History. New York: Academic.
68. Useem, Michael. 1993. Executive Defense: Shareholder Power and Corporate Reorganization. Cambridge, MA: Harvard University Press.
69. _. 1996. Investor Capitalism: How Money Managers Are Changing the Face of Corporate America. New York: Basic Books.
70. Willens, Robert. 1988. "The Revenue Act of 1987: Why Companies Can Breathe Easier." Journal of Accountancy 165:22-29.
71. Williamson, Oliver E. 1985. The Economic Institutions of Capitalism: Firms, Markets, Relational Contracting. New York: Free Press.
72. Wise, Dena, and Mary Zey. 1999. "The Convergence of Production and Financial Organizations: KKRs Integration of Corporate Control for Continued Profits in the 1990s." Social Science Quarterly 80:487-503.
73. Zald, Mayer. 1970. "Political Economy: A Framework for Comparative Analysis." Pp. 221-61 Power in Organizations. Nashville, TN: Vanderbilt University Press.
74. Zeitlin, Maurice. 1974. "Corporate Ownership and Control: The Large Corporation and the Capitalist Class." American Journal of Sociology 81:894-903.
75. Zey, Mary. 1992. "The 1980s Acquisition Wave: Institutional versus Corporate/Financial Power Structure Explanations." Paper presented at the American Sociological Association meetings, Pittsburgh, PA.
76. _. 1993a. Banking on Fraud: Drexel, Junk Bonds, and Buyouts. New York: Aldine De Gruyter.
77. _. 1993b. "Modeling Structural Contradictions and Their Consequences." Paper presented at International Institute of Sociology, Paris, France.
78. _. 1998. "The Transformation of Corporate Control to Owners and Form to the Multisubsidiary, 1981-1993." Research in Organizational Change and Development 11:271-312.
79. _. 1999. "The Subsidiarization of the Securities Industry and the Organization of Securities Fraud Networks to Return Profits in the 1980s." Work and Occupations 26:50-76.
80. Zey, Mary, and Brande Camp. 1996. "The Transformation from Multidivisional to Corporate Groups of Subsidiaries: Capital Crisis Theory." The Sociological Quarterly 37:327-351.
81. Zey, Mary, and Tami Swenson. 1998. "Corporate Tax Laws, Corporate Restructuring, and Subsidiarization of Corporate Form, 1981-1995." The Sociological Quarterly 39:555-581.
82. _. 1999. "The Transformation of the Dominant Corporate Form from Multidivisional to Multisubsidiary: The Role of the 1986 Tax Reform Act." The Sociological Quarterly 40:241-267.
83. Zey-Ferrell, Mary. 1979. Dimensions of Organizations: Environment, Context, Structure, Process, and Performance. Santa Monica, CA: Goodyear Publishing.
84. _. 1981. "Criticisms of the Dominant Perspectives of Organizations." The Sociological Quarterly 22:181-205.
85. Zey-Ferrell, Mary, and Michael Aiken. 1981. Complex Organizations: Critical Perspectives. Glenview, IL: Scott, Foresman.
86. Zey-Ferrell, Mary, and Wm. Alex McIntosh. 1987. "Agricultural Lending Policies of Commercial Banks: Consequences of Bank Dominance and Dependency." Rural Sociology 152:187-207.
87. Zucker, Lynne G. 1983. "Organizations as Institutions." Pp. 1-42 in Research in the Sociology of Organizations, edited by S. B. Bacharach. Greenwich, CT: JAI Press.