Text
Corporate development executives and M&A performance
Research Summary: While prior research has examined organizational- and CEO-level antecedents to mergers and acquisitions (M&A) capabilities, less is known about how those below the CEO may shape the ways in which firms conduct acquisitions. In this study, I argue that Corporate Development Executives (CDEs), the specialized executives who lead M&A efforts inside companies, also play an important role in the M&A process. Through a hand-collected dataset on CDEs in S&P 500 information technology (IT) firms, I find an inverted U-shaped relationship between their prior M&A experience and subsequent M&A performance, and I document the conditions under which CDEs' M&A experience may complement or substitute that of the CEO and the firm. This study contributes to corporate strategy and organizational learning literatures by unveiling novel insights on the microfoundations of M&A capabilities.
Managerial Summary: Corporate Development Executives (CDEs) have become increasingly prevalent across organizations, yet their impact on M&A outcomes remains less understood. This study investigates how these specialized executives responsible for leading M&A inside organizations influence acquisition outcomes through their prior experience. Using detailed data on CDEs in S&P 500 IT firms, I find an inverted-U relationship between CDEs' prior M&A experience and M&A performance, and that their abilities to shape M&A outcomes can be further enhanced or limited, depending on the experiences of the CEO and the firm. By unpacking the interactions among these different M&A experiences, this work offers important managerial implications on how firms should select and manage their M&A human capital as they continue to build M&A capabilities in pursuit of superior firm performance.
Ketersediaan
| Call Number | Location | Available |
|---|---|---|
| SMJ4511 | PSB lt.2 - Karya Akhir (Majalah) | 1 |
| Penerbit | USA: Strategic Management Society 2025 |
|---|---|
| Edisi | Vol. 46 Issue 11, Nov 2025 |
| Subjek | microfoundations dynamic managerial capabilities M&A Performance Corporate Development Executives (CDEs) M&A capabilities M&A experience |
| ISBN/ISSN | 1097-0266 |
| Klasifikasi | NONE |
| Deskripsi Fisik | 41 p. |
| Info Detail Spesifik | Strategic Management Journal |
| Other Version/Related | Tidak tersedia versi lain |
| Lampiran Berkas |