The influence of mergers on firms' product‐mix strategies
研究了多产品企业是否利用并购作为战略工具，将产品组合重新配置到高利润产品上，基于美国医院行业数据发现并购医院增加了盈利的保险服务，但未减少低利润的无保险服务。
Abstract This study draws on the institutional and resource‐based theories of the firm and examines whether multi‐product firms use mergers as a strategic tool to reconfigure their product‐mix toward high‐profit products. We propose that mergers facilitate product‐mix reconfiguration by relaxing institutional and organizational constraints on resource redeployment. Analysis of data from the U.S. hospital industry reveals that, relative to non‐merging hospitals, merging hospitals increased their presence in profitable, insured services but did not shift away from low‐profit services used by the uninsured. Copyright © 2004 John Wiley & Sons, Ltd.