企业管理系学术讲座系列：（2月24日）

时间：2023年2月24日（周五） 10:00-11:30

地点：史带楼802室

腾讯会议号：234 837 416

会议密码: 666666

主持人：孙金云副教授

主题：MEDIA-PORTRAYED SIMILARITY AND ACQUISITION COMPLETION: A SIGNALING PERSPECTIVE

主讲嘉宾：Jun Xia Professor，Jindal School of Management，The University of Texas at Dallas

嘉宾简介：

Jun Xia is a professor in management and strategy at the University of Texas at Dallas. His research interests include resource dependence and power, institutional theory, social networks, and corporate strategies. His work has been published in the Strategic Management Journal, Academy of management journal, Organization Science, Journal of Management, Journal of Management Studies, and Organizational Research Methods. He is a Senior Editor of Management and Organization Review and a review board member of Academy of Management Review and Journal of International Business Studies.

摘要：

This study investigates how and to what extent such firm attributes as affective, cognitive, social, and perceptive styles may affect acquisition completion. We argue that as the news media use similar language to describe two merging firms along these attributes, such media-portrayed similarity may work as a third-party signal that reflects the rapport between the two firms, thereby predicting the completion of their announced acquisitions. However, such an effect will be attenuated when relational signals are emitted from the merging firms’ direct connections with each other through ownership ties and repeated ties, or indirect relations through common third-party ties and two-step distant ties, because such relational signals may substitute for the third-party signal emitted from media portrayals. Using a sample of announced acquisitions by U.S. firms, we find evidence largely supporting our predictions. This study contributes to the acquisition literature by integrating signaling theory with media research on the construct of media-portrayed similarity.