Attributional tendencies in cultural explanations of M&A performance

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  • Hanken School of Economics


This paper focuses on managers' attributions of M&A performance. Our analysis indicates that there is a linear association between performance and attributions to cultural differences, which is moderated by prior experience. Furthermore, our results suggest that there is a curvilinear association between performance and attributions to managers' actions, but we found no support for the moderating effect of experience for this association. By substantiating these attributional tendencies, our results contribute to research on M&As and studies on attribution more generally. In particular, our study helps to put cultural differences in perspective and cautions researchers and practitioners alike to avoid simplistic explanations of M&A performance.


Original languageEnglish
Pages (from-to)1302-1317
JournalStrategic Management Journal
Issue number9
Publication statusPublished - 9 Sep 2014
MoE publication typeA1 Journal article-refereed

ID: 9665554