Literature has offered diverse explanations of the relationship between cultural distance and acquisition performance, pointing to both positive and negative effects. In this paper, we build on these findings and attempt to reconcile the conflicting research streams. We suggest that the effect...

This paper develops a two-sided search-matching model with imperfectly observed types and learning. Since agents do not observe one another’s type accurately, they first engage in a probationary partnership to learn one another’s true type. Using the metaphor ofpremarital cohabitation and...

The standard search model predicts that the hazard and the expected accepted wage should be constant over an unemployment spell. This note shows that heterogeneity in job o®er arrival rates can generate declining hazards and declining accepted wages, results in conformity with the empirical...

This study investigates the effect of national champion strategies on the length of the pre-M&A process in Europe. The policy strategy of creating so-called “national champions,” that is, promoting national rather than international mergers, is often the focus of European policy debate. If...

Purpose: The purpose of this paper is to examine how firm growth, and its decomposition into acquisitive and organic growth, can serve as an antecedent to the disparity in pay between the CEO and other top management team (TMT) members. Design/methodology/approach: Drawing on tournament theory,...