The governance of learning: Carrots, sticks, and stones in acquisition capability development
研究了公司治理机制如何激励管理层从收购经验中更有效地学习，利用1996-2012年美国公司收购数据验证了理论。
A growing literature suggests that deliberate, cognitive effort is necessary for learning to occur in the context of complex strategic activities. However, given increasing pressure for short-term results, it remains unclear what motivates management to actually invest such effort in learning, which benefits performance primarily in the longer term. To help fill this gap in our understanding of the motivational mechanisms behind organizational learning, we theorize whether and how corporate governance mechanisms push management toward more effective learning from its firm’s acquisition experience. Using data on U.S. firms’ acquisitions from 1996 through 2012, we find considerable support for our arguments.