Acquisitions As Exaptation: The Legacy of Founding Institutions in the U.S. Commercial Banking Industry
研究创始制度如何影响银行内部能力，并引入“拓展适应”概念解释能力的历史起源与当前用途的差异，发现三种创始条件影响银行管理分散分支的能力，进而影响其收购倾向。
This study focuses on how founding institutions impact intraorganizational capabilities and how such imprints may have different external manifestations in subsequent historical eras. We introduce the concept of exaptation to organizational theory, identifying an important process whereby the historical origin of a capability differs from its current usefulness. Three founding conditions—branching policy, modernization, and political culture—influenced banks' development of capabilities for managing dispersed branches, and these capabilities subsequently led to variation in banks' propensity to engage in acquisitions.