Corporate strategy research has largely ignored initial public offerings. We discuss possible reasons why this is the case and then present evidence suggesting why this may be problematic. In contrast to prior M&A research, we take the perspective of the sell-side and investigate a private...

This study investigates acquisitions of small manufacturing firms and compares private and public targets. We develop the argument that private targets tend to involve higher transaction costs in the presence of adverse selection problems than their public counterparts. Consistent with...

Information economics offers a complementary framework relative to transaction cost economics to study corporate strategy. Nevertheless, the existing theory suffers from the lack of an argument to differentiate various remedies for contractual hazards when multiple remedies are available. We...

This paper studies redeployment of resources between target and acquiring businesses following horizontal acquisitions. The analysis draws from perspectives that emphasize the strategic importance of resources that are subject to market failure. We define a five-part typology of R&D,...