Sequence Patterns of Firms' Acquisition and Alliance Behaviour and their Performance Implications
从时间视角研究企业重复性收购与联盟行为，识别出七种序列模式，并发现不同模式与企业绩效及发展阶段相关，有助于理解联盟组合与收购项目的时间管理。
abstract Studying repetitive acquisition and alliance behaviours from a temporal perspective, we conceptualize a taxonomy of sequence patterns. Our approach defines sequences as the set of acquisition and alliances a firm initiates each year over its life‐course. Using optimal matching techniques and clustering analysis, we empirically identify seven different sequence patterns and demonstrate that firm and performance attributes differ across these sequences and depending on the contingent effect of a firm's stage of development. We discuss the implications of our taxonomy and findings for our understanding of the temporal management of alliance portfolios and acquisition programmes.