Enhancing post-acquisition organisational performance: The role of the top management team

Team Performance Management

Volumn 14, Issue 3-4, 2008, Pages 134-145

  Vasilaki, Athina ^a   O'Regan, Nicholas ^b  

^a MIDDLESEX UNIVERSITY BUSINESS SCHOOL   (United Kingdom)

^b UNIVERSITY OF THE WEST OF ENGLAND   (United Kingdom)

Author keywords

Acquisitions and mergers; Research

Indexed keywords

EID: 46149106157     PISSN: 13527592     EISSN: None     Source Type: Journal    
DOI: 10.1108/13527590810883415     Document Type: Review

References (64)

1. Bennis, W.G. and Nanus, B. (1985), Leaders: The Strategies for Taking Charge, Harper & Row, New York, NY.
2. Birkinshaw, J., Bresman, H. and Hakanson, L. (2000), "Managing the post-acquisition integration process: How the human integration and task integration processes interact to foster value creation", Journal of Management Studies, Vol. 37, pp. 395-425.
3. Boal, K.B. and Hooijberg, R.J. (2000), "Strategic leadership research: Moving on", Leadership Quarterly, Yearly Review of Leadership, Vol. 11, pp. 515-50.
4. Boeker, W. (1997), "Strategic change: The influence of managerial characteristics and organisational growth", Academy of Management Journal, Vol. 40, pp. 152-70.
5. Bourgeois, L.J. (1984), "Strategic management and determination", Academy of Management Review, Vol. 9, pp. 586-96.
6. Brown, S.L. and Eisenhardt, K.M. (1997), "The art of continuous change: Linking complexity theory and time-paced evolution in the relentlessly shifting organisations", Administrative Science Quarterly, Vol. 42, pp. 1-34.
7. Bruton, G.D., Oviatt, B.M. and White, M.A. (1994), "Performance of acquisitions of distressed firms", Academy of Management Journal, Vol. 37, pp. 972-89.
8. Buono, A. and Bowditch, J. (1989), The Human Side of Mergers and Acquisitions, The Jossey-Bass Management Series, Jossey-Bass, Hoboken, NJ.
9. Cannella, A. and Hambrick, D.C. (1993), "Effects of executive departures on the performance of acquired firms", Strategic Management Journal, Vol. 14, pp. 137-52.
10. Carmeli, A. and Schaubroeck, J. (2006), "Top management team behavioural integration, decision quality and organisational decline", Leadership Quarterly, Vol. 17, pp. 441-53.
11. Carpenter, M.A., Geletkanycz, M.A. and Sanders, W.G. (2004), "Upper echelons research revisited: Antecedents, elements and consequences of top management team composition", Journal of Management, Vol. 30, pp. 749-78.
12. Certo, T.S., Lester, R.H., Dalton, C.M. and Dalton, D.R. (2006), "Top management teams, strategy and financial performance: A meta-analytic examination", Journal of Management Studies, Vol. 42, pp. 813-39.
13. Cook, J. and Wall, T. (1980), "New work attitude measures of trust, organisational commitment and personal need fulfillment", Journal of Occupational Psychology, Vol. 53, pp. 39-52.
14. Datta, D.K. (1991), "Organisational fit and acquisition performance: Effects of post-acquisition integration", Strategic Management Journal, Vol. 12, pp. 281-97.
15. Dooley, K.J. and Zimmerman, B.J. (2003), "Merger as marriage: communication issues in post-merger integration", Health Care Management Review, Vol. 28, pp. 55-67.
16. Eccles, J.S. and Wigfield, A. (2002), "Motivational beliefs, values and goals", Annual Review of Psychology, Vol. 53, pp. 109-32.
17. Edmondson, A.C., Roberto, M.A. and Watkins, M.D. (2003), "A dynamic model of top management team effectiveness: Managing unstructured task streams", Leadership Quarterly, Vol. 14, pp. 297-325.
18. Eisenhardt, K.M. (1989), "Making fast strategic decisions in high-velocity environments", Academy of Management Journal, Vol. 32, pp. 543-76.
19. Eisenhardt, K.M. (1999), "Strategy as strategic decision-making", Sloan Management Review, Vol. 40, pp. 65-72.
20. Ferrier, W.J. (2001), "Navigating the competitive landscape: The drivers and consequences of competitive aggressiveness", Academy of Management Journal, Vol. 44, pp. 858-77.
21. Finkelstein, S. and Hambrick, M.C. (1996), Strategic Leadership: Top Executives and Their Effects on Organisations, West Publishing, Minneapolis, MN.
22. Flauto, F.J. (1999), "Walking the talk: The relationship between leadership and communication competence", The Journal of Leadership Studies, Vol. 6, pp. 86-96.
23. Fluck, Z. and Lynch, A.W. (1999), "Why do firms merge and then divest? A theory of financial synergy", Journal of Business, Vol. 72, pp. 319-46.
24. Fowler, K.L. and Schmidt, D.R. (1989), "Determinants of tender offer post-acquisition financial performance", Strategic Management Journal, Vol. 10, pp. 339-50.
25. Fubini, D., Price, C. and Zollo, M. (2007), Mergers: Leadership, Performance and Corporate Health, INSEAD Business Press, New York, NY.
26. Gladstein, D.L. (1984), "Groups in context: A theme of task group effectiveness", Administrative Science Quarterly, Vol. 29, pp. 499-517.
27. Haleblian, J. and Finkelstein, S. (1993), "Top management team size, CEO dominance and firm performance: The moderating roles of environmental turbulence and discretion", Academy of Management Journal, Vol. 36, pp. 844-63.
28. Hambrick, D.C. (1994), "Top management groups: A conceptual integration and reconsideration of the team label", in Staw, B.M. and Cummings, L.L. (Eds), Research in Organisational Behavior, JAI Press, Greenwich, CT.
29. Hambrick, D.C. (2007), "Upper echelons theory: An update", Academy of Management Review, Vol. 32, pp. 334-43.
30. Hambrick, D.C. and Mason, P.A. (1984), "Upper echelons: The organisation as a reflection of its top managers", Academy of Management Review, Vol. 9, pp. 193-206.
31. Haspeslagh, P. and Jemison, D.B. (1991), Managing Acquisitions, The Free Press, New York, NY.
32. Haunschild, P.R. (1994), "How much is that company worth? Interorganisational relationships, uncertainty and acquisitions premiums", Administrative Science Quarterly, Vol. 39, pp. 391-411.
33. Henderson, A.D. and Fredrickson, J.W. (1996), "Information-processing demands as a determinant of CEO compensation", Academy of Management Journal, Vol. 39, pp. 575-606.
34. Hitt, M.A. and Tyler, B.B. (1991), "Strategic decisions themes: integrating different perspectives", Strategic Management Journal, Vol. 12, pp. 327-51.
35. Hitt, M.A., Harrison, J.S. and Ireland, D.R. (2001), Mergers and Acquisitions: A Guide to Creating Value for Stakeholders, Oxford University Press, New York, NY.
36. Hitt, M.A., Ireland, R.D. and Hoskisson, R.E. (2007), Strategic Management: Competitiveness and Globalisation Concepts, South-Western, London.
37. Jemison, D.B. and Sitkin, S.B. (1986), "Corporate acquisitions: A process perspective", Academy of Management Review, Vol. 11, pp. 145-63.
38. Keck, S.L. (1997), "Top management team structure: Differential effects by environment context", Organisation Science, Vol. 8, pp. 143-56.
39. Kidron, A. (1978), "Work values and organisational commitment", Academy of Management Journal, Vol. 21, pp. 239-47.
40. Kiessling, T. and Harvey, M. (2006), "The human resource management issues during an acquisition: The target firm's top management team and key managers", International Journal of Human Resource Management, Vol. 17, pp. 1307-20.
41. Kitching, J. (1967), "Why do mergers miscarry?", Harvard Business Review, Vol. 45, pp. 84-101.
42. Loderer, C. and Martin, K. (1992), "Post-acquisition performance of acquiring firms", Financial Management, Vol. 21, pp. 69-80.
43. Lubatkin, M. (1983), "Mergers and the performance of the acquiring firm", Academy of Management Review, Vol. 8, pp. 218-25.
44. Lubatkin, M. (1987), "Merger strategies and stockholder value", Strategic Management Journal, Vol. 8, pp. 39-53.
45. Lubatkin, M., Schweiger, D. and Weber, Y. (1999), "Top management turnover in related M&As: An additional test of the theory of relative standing", Journal of Management, Vol. 25, pp. 55-73.
46. Manz, C.C. and Sims, H.P. (1991), "Super leadership: Beyond the myth of heroic leadership", Organisational Dynamics, Vol. 20, pp. 18-35.
47. Marlin, D., Lamont, B.T. and Geiger, S.W. (2004), "Diversification strategy and top management team fit", Journal of Managerial Issues, Vol. 16, pp. 361-81.
48. Matthes, K. (1992), "Team building: Help employees change from me to we", HR Focus, Vol. 69, p. 6.
49. Napier, N.K. (1989), "Mergers and acquisitions, human resource issues and outcomes: A review and suggested typology", Journal of Management Studies, Vol. 26, pp. 271-89.
50. O'Reilly, C.A., Caldwell, D.F. and Boothe, J.N. (1993), "Executive team demography and organisational change", in Huber, G.P. and Glick, W.H. (Eds), Organisational Change and Redesign: Ideas and Insights for Improving Performance, Oxford University Press, New York, NY.
51. Pablo, A.L. (1994), "Determinants of acquisition integration level: a decision-making perspective", Academy of Management Journal, Vol. 37, pp. 803-36.
52. Schein, E.H. (1985), Organisational Culture and Leadership, Jossey-Bass, San Francisco, CA.
53. Schweiger, D.M. and DeNisi, A.S. (1991), "Communication with employees following a merger: A longitudinal field experiment", Academy of Management Journal, Vol. 34, pp. 110-35.
54. Simsek, Z., Veiga, J.F., Lubatkin, M.H. and Dino, R.N. (2005), "Modelling the multilevel determinants of top management team behavioural integration", Academy of Management Journal, Vol. 48, pp. 69-84.
55. Sirower, M.L. (1997), The Synergy Trap: How Companies Lose the Acquisition Game, The Free Press, New York, NY.
56. Spinks, N. and Wells, B. (1995), "Quality communication: A key to quality leadership", Training for Quality, Vol. 3, pp. 14-19.
57. Steiner, I.D. (1972), Group Processes and Productivity, Academic Press, New York, NY.
58. Tihanyi, L., Ellstrand, A.E., Daily, C.M. and Dalton, D.R. (2000), "Composition of the top management team and firm international diversification", Journal of Management, Vol. 26, pp. 1157-77.
59. Vaara, E. (2002), "On the discursive construction of success/ failure in narratives of post-merger integration", Organisational Studies, Vol. 23, pp. 211-48.
60. Vermeulen, F. and Bakerma, H. (2001), "Learning thought acquisitions", Academy of Management Journal, Vol. 44, pp. 457-76.
61. Vyakarnam, S. and Handelberg, J. (2005), "Four themes of the impact of management teams on organisational performance: Implications for future research of entrepreneurial firms", International Small Business Journal, Vol. 23, pp. 236-56.
62. Weber, Y. (2000), "Measuring cultural fit in mergers and acquisitions", in Ashkanasy, N.M., Wilderom, C. and Peterson, M. (Eds), Handbook of Organisational Culture and Climate, Sage Publications, London.
63. Wooldridge, B. and Floyd, S.W. (1990), "The strategy process, middle management involvement and organisational performance", Strategic Management Journal, Vol. 11, pp. 231-41.
64. Yuen, C. (2004), "Good characteristics, communication and reward systems, and managerial propensity to create budgetary control", Managerial Auditing Journal, Vol. 19, pp. 517-32.