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Acquisition And Divestiture As A Response To Competitive Position And Market Structure

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  • H. Donald Hopkins

Abstract

One theory of acquisition motivation holds that some acquisition activity is a defensive reaction to weak or deteriorating industry conditions and competitive position. Designated the ‘defensive diversification hypothesis’, this motive has not been tested directly by relating firms' competitive circumstances to their subsequent acquisitive behaviour. This study does so. Results show that a firm's prior circumstances are related to the intensity of both its acquisitions and divestitures, as well as the type of firms acquired.

Suggested Citation

  • H. Donald Hopkins, 1991. "Acquisition And Divestiture As A Response To Competitive Position And Market Structure," Journal of Management Studies, Wiley Blackwell, vol. 28(6), pages 665-677, November.
    • Handle: RePEc:bla:jomstd:v:28:y:1991:i:6:p:665-677
    DOI: 10.1111/j.1467-6486.1991.tb00985.x
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    Cited by:

    1. Ljubownikow, Grigorij & Ang, Siah Hwee, 2020. "Competition, diversification and performance," Journal of Business Research, Elsevier, vol. 112(C), pages 81-94.
    2. Hamid Beladi & Arijit Mukherjee, 2024. "Losses from horizontal merger and collusion," Journal of Economics, Springer, vol. 142(3), pages 277-289, August.
    3. Elena Vidal & Will Mitchell, 2015. "Adding by Subtracting: The Relationship Between Performance Feedback and Resource Reconfiguration Through Divestitures," Organization Science, INFORMS, vol. 26(4), pages 1101-1118, August.
    4. Schweizer, Roger & Lagerström, Katarina, 2020. "Understanding a demerger process: The divorce metaphor," Scandinavian Journal of Management, Elsevier, vol. 36(1).

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