Understanding Acquisition Performance: The Role of Transfer Effects
基于个体层面的转移理论，研究了组织收购中的正负转移效应，发现行业相似的收购绩效更好，而第二次收购表现不如第一次，尤其当两次收购目标行业不同时。
Drawing on work from transfer theory at the individual unit of analysis, this study examines positive and negative transfer effects in organization acquisitions. Data from 96 organizations reveal that, consistent with theories on positive transfer of industry knowledge, similar acquisitions are positively related to acquisition performance. In addition, consistent with theory on negative transfer of past acquisition knowledge, second acquisitions underperform first acquisitions, particularly when first and second targets are from different industries. In combination, these findings suggest that the routines and practices established in prior situations transfer to new situations, and that the effect of such transfer depends on the similarity of industrial environments.