Acquisition decision-making processes: The central role of risk
提出行为风险概念（决策者风险感知与倾向）是理解收购候选选择、评估谈判及整合过程的关键，并基于其他决策情境的研究提出相关命题，为收购过程理论提供更坚实的理论基础。
This paper builds upon the work of organizational and strategic management scholars who have conceptualized acquisitions as decision-making processes, We suggest that behavioral concepts of risk, specifically decision-maker risk perceptions and propensities, are key to understanding the process by which acquisition candidates are selected, the characteristics of pre-acquisition evaluation and negotiations, and approaches to post-acquisition integration. By drawing upon past work concerning the effects of these risk-related variables in other decision-making contexts, we develop propositions that conceptualize their impact on acquisition decision processes. Incorporation of risk as a key variable in process theories of acquisitions provides a stronger theoretical grounding for these theories, and suggests some important practical implications for managers.