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Human capital relatedness and mergers and acquisitions
16 references·16 citing·56 second hopsampled
Human capital relatedness and mergers and acquisitions (2018)Human capital relatedness and mergers and…Text-Based Network Industries and Endogenous Product Differentiation (2016)Text-Based Network Industries…Organization Capital and the Cross‐Section of Expected Returns (2013)Organization Capital and the …Product Market Synergies and Competition in Mergers and Acquisitions: A Text-Based Analysis (2010)Product Market Synergies and …New Evidence and Perspectives on Mergers (2001)New Evidence and Perspectives…Corporate Cash Reserves and Acquisitions (1999)Corporate Cash Reserves and A…Internal Capital Markets and the Competition for Corporate Resources (1997)Internal Capital Markets and …Firms, Contracts, and Financial Structure (1995)Firms, Contracts, and Financi…Profiting from technological innovation: Implications for integration, collaboration, licensing and public policy (1993)Profiting from technological …Property Rights and the Nature of the Firm (1990)Property Rights and the Natur…The Costs and Benefits of Ownership: A Theory of Vertical and Lateral Integration (1986)The Costs and Benefits of Own…Technological Opportunity and Spillovers of R&D: Evidence from Firms' Patents, Profits and Market Value (1986)Technological Opportunity and…Technological Opportunity and Spillovers of R&D: Evidence from Firms' Patents, Profits and Market Value (1986)Technological Opportunity and…Profiting from technological innovation: Implications for integration, collaboration, licensing and public policy (1986)Profiting from technological …A resource‐based view of the firm (1984)A resource‐based view of the …Towards an economic theory of the multiproduct firm (1982)Towards an economic theory of…Asset returns and inflation (1977)Asset returns and inflationThe Human Factor in Acquisitions: Cross-industry Labor Mobility and Corporate Diversification (2023)The Human Factor in Acquisiti…Hiring High-Skilled Labor Through Mergers and Acquisitions (2023)Hiring High-Skilled Labor Thr…Inter-Firm Inventor Collaboration and Path-Breaking Innovation: Evidence From Inventor Teams Post-Merger (2022)Inter-Firm Inventor Collabora…Cross-Border Mergers and Acquisitions and CSR Performance: Evidence from China (2022)Cross-Border Mergers and Acqu…Consequences of local social norms: A review of the literature in accounting, finance, and corporate governance (2022)Consequences of local social …Management Practices and Mergers and Acquisitions (2021)Management Practices and Merg…Customer concentration and M&A performance (2021)Customer concentration and M&…Human capital, income diversification and bank performance–an empirical study of East African banks (2020)Human capital, income diversi…An Integrative Review of the Emerging Behavioral Acquisition Literature: Charting the Next Decade of Research (2020)An Integrative Review of the …The Pre-Deal Phase of Mergers and Acquisitions: A Review and Research Agenda (2019)The Pre-Deal Phase of Mergers…The performance of acquisitions by high default risk bidders (2019)The performance of acquisitio…Stakeholder Preservation or Appropriation? The Influence of Target CSR on Market Reactions to Acquisition Announcements (2019)Stakeholder Preservation or A…Private equity and human capital risk (2019)Private equity and human capi…Cross-border acquisitions: Do labor regulations affect acquirer returns? (2019)Cross-border acquisitions: Do…Corporate social responsibility and M&A uncertainty (2019)Corporate social responsibili…Blockholder heterogeneity and conflicts in cross-border acquisitions (2018)Blockholder heterogeneity and…The Problem of Social Cost (1960)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Corporate financing and investment decisions when firms have information that investors do not have (1984)A Survey of Corporate Governance (1997)Law and Finance (1998)Investor protection and corporate governance (2000)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)The Valuation of Risk Assets and the Selection of Risky Investments in Stock Portfolios and Capital Budgets (1965)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)Expected stock returns and volatility (1987)Efficient Capital Markets: II (1991)On the Relation between the Expected Value and the Volatility of the Nominal Excess Return on Stocks (1993)The Nature of the Firm (1937)Markets and Hierarchies: Analysis and Antitrust Implications. (1976)Production, Information Costs and Economic Organization (1996)Formal and Real Authority in Organizations (1997)Does function follow organizational form? Evidence from the lending practices of large and small banks (2005)Unbundling Institutions (2005)Vertical Integration, Appropriable Rents, and the Competitive Contracting Process (1978)Comparative Economic Organization: The Analysis of Discrete Structural Alternatives (1991)The quality of government (1999)The New Institutional Economics: Taking Stock, Looking Ahead (2000)Positioning: The Battle for Your Mind (1981)The Concept of Corporate Strategy (1987)Firm Resources and Sustained Competitive Advantage (1991)The Theory of the Growth of the Firm (1995)Dynamic capabilities and strategic management (1997)Firm resources and sustained competitive advantage (2004)The Structure of Scientific Revolutions (1963)Technological paradigms and technological trajectories (1982)The interaction of design hierarchies and market concepts in technological evolution (1985)First-mover advantages (1988)Technological Discontinuities and Dominant Designs: A Cyclical Model of Technological Change (1990)Localised learning and industrial competitiveness (1999)Invention and Economic Growth (1966)Industry Structure, Market Rivalry, and Public Policy (1973)Specification Tests in Econometrics (1978)Environmental Regulation and the Competitiveness of U.S. Manufacturing: What Does the Evidence Tell Us? (1995)The Economic Performance of Regions (2003)Related Variety, Unrelated Variety and Regional Economic Growth (2007)Stability in Competition (1929)Stability in Competition (1990)When Is a Liability Not a Liability? Textual Analysis, Dictionaries, and 10‐Ks (2011)Textual Analysis in Accounting and Finance: A Survey (2016)Text as Data (2019)Artificial intelligence, firm growth, and product innovation (2023)Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers (1986)The Cross-Section of Expected Stock Returns (1992)Common risk factors in the returns on stocks and bonds (1993)Stock market driven acquisitions (2003)Firm size and the gains from acquisitions (2004)Who makes acquisitions? CEO overconfidence and the market's reaction☆ (2008)The Promise of Entrepreneurship as a Field of Research (2000)Varieties of Capitalism (2001)Explicating dynamic capabilities: the nature and microfoundations of (sustainable) enterprise performance (2007)The Structure of Scientific Revolutions (2017)
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References

  • 1984A resource‐based view of the firm25,618 cited
  • 1986The Costs and Benefits of Ownership: A Theory of Vertical and Lateral Integration9,369 cited
  • 1986Profiting from technological innovation: Implications for integration, collaboration, licensing and public policy7,840 cited
  • 1993Profiting from technological innovation: Implications for integration, collaboration, licensing and public policy7,242 cited
  • 1990Property Rights and the Nature of the Firm5,407 cited
  • 1995Firms, Contracts, and Financial Structure4,671 cited
  • 1986Technological Opportunity and Spillovers of R&D: Evidence from Firms' Patents, Profits and Market Value2,808 cited
  • 2001New Evidence and Perspectives on Mergers2,803 cited
  • 1977Asset returns and inflation2,701 cited
  • 2016Text-Based Network Industries and Endogenous Product Differentiation2,114 cited
  • 1999Corporate Cash Reserves and Acquisitions2,066 cited
  • 1982Towards an economic theory of the multiproduct firm1,990 cited
  • 1997Internal Capital Markets and the Competition for Corporate Resources1,779 cited
  • 1986Technological Opportunity and Spillovers of R&D: Evidence from Firms' Patents, Profits and Market Value1,699 cited
  • 2010Product Market Synergies and Competition in Mergers and Acquisitions: A Text-Based Analysis

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1,498 cited
  • 2013Organization Capital and the Cross‐Section of Expected Returns1,005 cited
  • Cited by

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    • 2022Cross-Border Mergers and Acquisitions and CSR Performance: Evidence from China115 cited
    • 2019Private equity and human capital risk83 cited
    • 2021Customer concentration and M&A performance83 cited
    • 2020An Integrative Review of the Emerging Behavioral Acquisition Literature: Charting the Next Decade of Research79 cited
    • 2019Stakeholder Preservation or Appropriation? The Influence of Target CSR on Market Reactions to Acquisition Announcements63 cited
    • 2023The Human Factor in Acquisitions: Cross-industry Labor Mobility and Corporate Diversification56 cited
    • 2019Cross-border acquisitions: Do labor regulations affect acquirer returns?49 cited
    • 2022Inter-Firm Inventor Collaboration and Path-Breaking Innovation: Evidence From Inventor Teams Post-Merger45 cited
    • 2020Human capital, income diversification and bank performance–an empirical study of East African banks37 cited
    • 2021Management Practices and Mergers and Acquisitions36 cited
    • 2023Hiring High-Skilled Labor Through Mergers and Acquisitions34 cited
    • 2022Consequences of local social norms: A review of the literature in accounting, finance, and corporate governance34 cited
    • 2018Blockholder heterogeneity and conflicts in cross-border acquisitions33 cited
    • 2019The performance of acquisitions by high default risk bidders30 cited