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| The Relationship between Management Turnover and Acquisition Performance: Moderated by Multi-factors |
| YUE Qi,HUA Xing |
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Abstract There has been argument for a long time about the rationale for an acquiring firm to replace former top managers of the acquired firm. This paper makes an empirical research on the relationship between management turnover and acquisition performance. The results support that management turnover has positive effect on acquisition performance. Moreover, the positive relationship between management turnover and acquisition performance are moderated by several factors. If the acquirer and the target are in the same region there is significant positive moderating effect. The extent of relatedness of the business of the acquirer and the target plays a significant role as a negative moderator. The relative size of the target compared to the acquirer and the relative performance of the target compared to the industry also have positive moderating effect.
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Received: 17 May 2012
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Corresponding Authors:
YUE Qi
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2013, Vol. 1 
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