Redeployment of Brands, Sales Forces, and General Marketing Management Expertise Following Horizontal Acquisitions: A Resource-Based View
基于资源基础理论，研究横向并购后企业如何重新部署品牌、销售队伍和通用营销管理专长，发现高不可移动资源更易被重新部署，且从收购方向目标方转移更常见，重新部署显著影响收入协同和企业绩效。
Drawing on resource-based theory, the authors examine the extent to which firms redeploy three key marketing resources (brands, sales forces, and general marketing expertise) following horizontal acquisitions. Results from a survey of 253 acquisitions show that highly immobile resources are more likely than less immobile resources to be redeployed. Furthermore, resources tend to be redeployed from the acquirer to the target more often than in the reverse direction. Finally, the effects of redeployment on subsequent product costs, product quality, product line breadth, geographic market coverage, market share, and profitability are examined. Cost-based synergies were minimally affected, but revenue-based synergies and overall firm performance were significantly influenced.