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Network learning: the effects of partners' heterogeneity of experience on corporate...

By Beckman, Christine M.; Haunschild, Pamela R.
Publication: Administrative Science Quarterly
Date: Friday, March 1 2002

To examine the effects of interorganizational network structures on acquisition decisions, we propose a model whereby firms learn by sampling the diverse experiences of their network partners. We tested this model by examining the effect of diversity of network partners' experience on firms' acquisition decisions, using data on acquisition premiums and acquirers' stock market performance from 1986 to 1997. Results show that firms tied to others with heterogeneous prior premium experience tend to pay less for their acquisitions and have better-performing acquisitions than those tied to oth

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