Drawing from the behavioral theory of the firm and the resource-based view, we argue that different types of R&D (explorative and exploitative) and the timing of R&D investments (pre- and post-acquisitions) have differential effects on post-acquisition performance. By using a sample of 396...

Using resource-based logic as well as stewardship and agency theories, we address a paradox when governing young firms—how to design governance structures to encourage top managers to generate rents while minimizing the threat of rent appropriation. Some corporate governance mechanisms (CGMs)...