I also thank participants at the University of Michigan Strategy and Business Economics departmen... more I also thank participants at the University of Michigan Strategy and Business Economics departmental seminars, the 14th Annual Consortium on Competitiveness and Cooperation (CCC) and the 2007 Annual Meeting of the Academy of Management for their helpful comments. All errors remain mine.
According to Essential Science Indicators from Thomson Reuters, the paper, "The relational v... more According to Essential Science Indicators from Thomson Reuters, the paper, "The relational view: Cooperative strategy and sources of interorganizational competitive advantage," (Dyer JH and Singh H, Academy of Management Review 23[4]: 660-79, October 1998) is currently ranked at #2 among Economics & Business papers published between January 1, 1998 and April 30, 2008. At present, the paper has 561 cites.
... Mgmt. J., 21: 1-22 (2000) COMPLEMENTARITY, STATUS SIMILARITY AND SOCIAL CAPITAL AS DRIVERS OF... more ... Mgmt. J., 21: 1-22 (2000) COMPLEMENTARITY, STATUS SIMILARITY AND SOCIAL CAPITAL AS DRIVERS OF ALLIANCE FORMATION ... THEORY AND HYPOTHESES Resource complementarity ...
In order to analyze target CEO incentives to negotiate shared control, I study abnormal returns i... more In order to analyze target CEO incentives to negotiate shared control, I study abnormal returns in a sample of "mergers of equals" transactions in which the two firms are approximately equal in post-merger board representation. Mergers of equals (MOEs) are friendly mergers generally characterized by extensive pre-merger negotiations between firms with more comparable bargaining positions resulting in both lower premiums and greater shared control (board and management) between target and acquiring firms. On average, acquirer shareholders capture more of the gains in MOEs measured by event returns, while target shareholders capture less, in comparison to a matched sample of transactions with unequal board representation (i.e. "mergers of non-equals" or MONEs). However, the value created by MOEs measured by combined event returns is not significantly different than the matched sample. Moreover, both the value created and target shareholders' capture of the gains are systematically related to variables representing postmerger control rights. The evidence suggests that target CEOs negotiate shared control in the merged firm in exchange for lower target shareholder premiums.
Corporations have increasingly seen alliances as attractive vehicles through which they can grow ... more Corporations have increasingly seen alliances as attractive vehicles through which they can grow and expand their scope, and the rate at which interfirm alliances have been formed in the last two decades has been unprecedented (Harrigan, 1986; Anderson, 1990). A notable ...
New research shows that among today's numerous strategic alliances, the most successful are ... more New research shows that among today's numerous strategic alliances, the most successful are in companies with a department specifically assigned to overseeing alliances. Management professors Jeffrey H. Dyer, Prashant Kale and Harbir Singh came to that conclusion after ...
Firms can enjoy competitive advantage by developing a capability to manage alliances more success... more Firms can enjoy competitive advantage by developing a capability to manage alliances more successfully than others. A knowledge-based approach suggests that organizational processes facilitating the accumulation, codification and sharing of alliance know-how embedded in the firm's alliance experience, are central to its alliance capability and success.
... nities. Even relatively low-skill industries such as business process outsourcing and call ce... more ... nities. Even relatively low-skill industries such as business process outsourcing and call centers pro-vide something like 30 days of training, and retail companies require about 20 days (Wadhwa, de Vitton, & Gereffi, 2008). ...
We examine the performance implications of selecting alternate modes of governance in interorgani... more We examine the performance implications of selecting alternate modes of governance in interorganizational alliance relationships. While managers can choose from a range of modes to govern alliances, prior empirical evidence offers limited guidance on the performance impact of this choice. We use an agent-based simulation of inter-firm decision making to complement empirical studies in this area. Our results point to a complex interplay between interdependencies, governance structures and firms' search capabilities: different patterns of interdependence create varying needs with respect to coordination and exploration, while at the same time different governance modes, coupled with organizational search capabilities, supply varying degrees of these factors; firm performance in an alliance relationship improves when the needs and supplies of coordination and exploration are matched. We find situations in which stronger organizational search capabilities can backfire, leading to lower exploration within the alliance relationship, and hence to lower firm performance. Moreover we show that for higher levels of interdependence, coordination can become more critical for firm performance than exploration: unless it is tied to coordination, exploration can be ineffective in alliance settings.
The Quarterly Review of Economics and Finance, 1999
This exploratory study examines the acquisition and formation of physician group practices by for... more This exploratory study examines the acquisition and formation of physician group practices by for-profit and not-for-profit organizations from a strategic management perspective.
Acquirers who buy small technology-based firms for their technological capabilities often discove... more Acquirers who buy small technology-based firms for their technological capabilities often discover that postmerger integration can destroy the very innovative capabilities that made the acquired organization attractive in the first place. Viewing structural integration as a mechanism to achieve coordination between acquirer and target organizations helps explain why structural integration may be necessary in technology acquisitions despite the costs of disruption this imposes, as well as the conditions under which it becomes less (or unnecessary ry. We show that interdependence motivates structural integration but that preexisting common ground offers acquirers an alternate path to achieving coordination, which may be less disruptive than structural integration.
Las alianzas estratégicas se han convertido en una importante herramienta para la obtención de un... more Las alianzas estratégicas se han convertido en una importante herramienta para la obtención de una ventaja competitiva sostenible. Sin embargo, las alianzas comportan un riesgo, y muchas de ellas acaban fracasando. Para evitar esta situación, la gestión eficaz de las alianzas ...
The article presents a review of the book “Managing for Joint Venture Success,” by Kathryn Rudie ... more The article presents a review of the book “Managing for Joint Venture Success,” by Kathryn Rudie Harrigan.
We examined the distribution of benefits to partners in multipartner alliances by concentrating o... more We examined the distribution of benefits to partners in multipartner alliances by concentrating on dynamics of partner entry and involvement. Testing hypotheses in the Wi-Fi Alliance, we observed heterogeneity of benefits. In particular, the extent of organizational involvement in this alliance enhanced partners' reputation and market success with related product introductions but reduced their productivity. Participation in competing alliances enhanced productivity and market success despite potential efficiency losses. Finally, early alliance entrants gained market success, and both early and late entrants were more productive than intermediate entrants. These findings illuminate multipartner alliance complexity and disparity between common and private benefits.
Large, established firms acquiring small, technology-based firms must manage them so as to both e... more Large, established firms acquiring small, technology-based firms must manage them so as to both exploit their capabilities and technologies in a coordinated way and foster their exploration capacity by preserving their autonomy. We suggest that acquirers can resolve this coordination-autonomy dilemma by recognizing that the effect of structural form on innovation outcomes depends on the developmental stage of acquired firms' innovation trajectories. Structural integration decreases the likelihood of introducing new products for firms that have not launched products before being acquired and for all firms immediately after acquisition, but these effects disappear as innovation trajectories evolve.
I also thank participants at the University of Michigan Strategy and Business Economics departmen... more I also thank participants at the University of Michigan Strategy and Business Economics departmental seminars, the 14th Annual Consortium on Competitiveness and Cooperation (CCC) and the 2007 Annual Meeting of the Academy of Management for their helpful comments. All errors remain mine.
According to Essential Science Indicators from Thomson Reuters, the paper, "The relational v... more According to Essential Science Indicators from Thomson Reuters, the paper, "The relational view: Cooperative strategy and sources of interorganizational competitive advantage," (Dyer JH and Singh H, Academy of Management Review 23[4]: 660-79, October 1998) is currently ranked at #2 among Economics & Business papers published between January 1, 1998 and April 30, 2008. At present, the paper has 561 cites.
... Mgmt. J., 21: 1-22 (2000) COMPLEMENTARITY, STATUS SIMILARITY AND SOCIAL CAPITAL AS DRIVERS OF... more ... Mgmt. J., 21: 1-22 (2000) COMPLEMENTARITY, STATUS SIMILARITY AND SOCIAL CAPITAL AS DRIVERS OF ALLIANCE FORMATION ... THEORY AND HYPOTHESES Resource complementarity ...
In order to analyze target CEO incentives to negotiate shared control, I study abnormal returns i... more In order to analyze target CEO incentives to negotiate shared control, I study abnormal returns in a sample of "mergers of equals" transactions in which the two firms are approximately equal in post-merger board representation. Mergers of equals (MOEs) are friendly mergers generally characterized by extensive pre-merger negotiations between firms with more comparable bargaining positions resulting in both lower premiums and greater shared control (board and management) between target and acquiring firms. On average, acquirer shareholders capture more of the gains in MOEs measured by event returns, while target shareholders capture less, in comparison to a matched sample of transactions with unequal board representation (i.e. "mergers of non-equals" or MONEs). However, the value created by MOEs measured by combined event returns is not significantly different than the matched sample. Moreover, both the value created and target shareholders' capture of the gains are systematically related to variables representing postmerger control rights. The evidence suggests that target CEOs negotiate shared control in the merged firm in exchange for lower target shareholder premiums.
Corporations have increasingly seen alliances as attractive vehicles through which they can grow ... more Corporations have increasingly seen alliances as attractive vehicles through which they can grow and expand their scope, and the rate at which interfirm alliances have been formed in the last two decades has been unprecedented (Harrigan, 1986; Anderson, 1990). A notable ...
New research shows that among today's numerous strategic alliances, the most successful are ... more New research shows that among today's numerous strategic alliances, the most successful are in companies with a department specifically assigned to overseeing alliances. Management professors Jeffrey H. Dyer, Prashant Kale and Harbir Singh came to that conclusion after ...
Firms can enjoy competitive advantage by developing a capability to manage alliances more success... more Firms can enjoy competitive advantage by developing a capability to manage alliances more successfully than others. A knowledge-based approach suggests that organizational processes facilitating the accumulation, codification and sharing of alliance know-how embedded in the firm's alliance experience, are central to its alliance capability and success.
... nities. Even relatively low-skill industries such as business process outsourcing and call ce... more ... nities. Even relatively low-skill industries such as business process outsourcing and call centers pro-vide something like 30 days of training, and retail companies require about 20 days (Wadhwa, de Vitton, & Gereffi, 2008). ...
We examine the performance implications of selecting alternate modes of governance in interorgani... more We examine the performance implications of selecting alternate modes of governance in interorganizational alliance relationships. While managers can choose from a range of modes to govern alliances, prior empirical evidence offers limited guidance on the performance impact of this choice. We use an agent-based simulation of inter-firm decision making to complement empirical studies in this area. Our results point to a complex interplay between interdependencies, governance structures and firms' search capabilities: different patterns of interdependence create varying needs with respect to coordination and exploration, while at the same time different governance modes, coupled with organizational search capabilities, supply varying degrees of these factors; firm performance in an alliance relationship improves when the needs and supplies of coordination and exploration are matched. We find situations in which stronger organizational search capabilities can backfire, leading to lower exploration within the alliance relationship, and hence to lower firm performance. Moreover we show that for higher levels of interdependence, coordination can become more critical for firm performance than exploration: unless it is tied to coordination, exploration can be ineffective in alliance settings.
The Quarterly Review of Economics and Finance, 1999
This exploratory study examines the acquisition and formation of physician group practices by for... more This exploratory study examines the acquisition and formation of physician group practices by for-profit and not-for-profit organizations from a strategic management perspective.
Acquirers who buy small technology-based firms for their technological capabilities often discove... more Acquirers who buy small technology-based firms for their technological capabilities often discover that postmerger integration can destroy the very innovative capabilities that made the acquired organization attractive in the first place. Viewing structural integration as a mechanism to achieve coordination between acquirer and target organizations helps explain why structural integration may be necessary in technology acquisitions despite the costs of disruption this imposes, as well as the conditions under which it becomes less (or unnecessary ry. We show that interdependence motivates structural integration but that preexisting common ground offers acquirers an alternate path to achieving coordination, which may be less disruptive than structural integration.
Las alianzas estratégicas se han convertido en una importante herramienta para la obtención de un... more Las alianzas estratégicas se han convertido en una importante herramienta para la obtención de una ventaja competitiva sostenible. Sin embargo, las alianzas comportan un riesgo, y muchas de ellas acaban fracasando. Para evitar esta situación, la gestión eficaz de las alianzas ...
The article presents a review of the book “Managing for Joint Venture Success,” by Kathryn Rudie ... more The article presents a review of the book “Managing for Joint Venture Success,” by Kathryn Rudie Harrigan.
We examined the distribution of benefits to partners in multipartner alliances by concentrating o... more We examined the distribution of benefits to partners in multipartner alliances by concentrating on dynamics of partner entry and involvement. Testing hypotheses in the Wi-Fi Alliance, we observed heterogeneity of benefits. In particular, the extent of organizational involvement in this alliance enhanced partners' reputation and market success with related product introductions but reduced their productivity. Participation in competing alliances enhanced productivity and market success despite potential efficiency losses. Finally, early alliance entrants gained market success, and both early and late entrants were more productive than intermediate entrants. These findings illuminate multipartner alliance complexity and disparity between common and private benefits.
Large, established firms acquiring small, technology-based firms must manage them so as to both e... more Large, established firms acquiring small, technology-based firms must manage them so as to both exploit their capabilities and technologies in a coordinated way and foster their exploration capacity by preserving their autonomy. We suggest that acquirers can resolve this coordination-autonomy dilemma by recognizing that the effect of structural form on innovation outcomes depends on the developmental stage of acquired firms' innovation trajectories. Structural integration decreases the likelihood of introducing new products for firms that have not launched products before being acquired and for all firms immediately after acquisition, but these effects disappear as innovation trajectories evolve.
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Papers by Harbir Singh