Abstract: Empirical evidence indicates higher than normal turnover rates of target firm executives following acquisitions. The extant literature has focused on explaining why this phenomenon occurs, and what its implications are for post-acquisition performance. However, research in this area has been fragmented, preventing scholars from developing a general model of acquisition-related executive turnover. Thus, in this study we employ meta-analytic techniques to synthesize empirical findings on determinants of collective executive turnover and its effects on post-acquisition performance. Specifically, we assess the relative influence of determinants at the individual-, group-, firm-, and deal-levels of analysis. Furthermore, using path analysis we test alternative models of determinants-turnover-post-acquisition performance relationship. Lastly, we identify moderators to provide important insights into the nature of these relationships.

Abstract: The following paper analyses the impact of plant takeover on the probability of employee turnover. Based on organizational routines, coping and psychological contract literature, I argue that employees working for a plant that is acquired are more likely to switch jobs following the acquisition than they were before. I test these predictions on a sample of almost 10.000 employees who worked in Denmark in the period between 2001 and 2007. Results in a Difference-in-Differences setting show that employees are more likely to leave after a plant takeover. The increase in turnover subdues in the years following the acquisition. Employee and plant characteristics that affect such outcome are further explored.

Abstract: Firms are increasingly launching initiatives with an explicit social mandate. One strategic justification for encouraging employee participation in such projects is the expectation of improved retention. Although research suggests that participation improves the motivation and organizational identification of employees, there is limited evidence regarding the extent to which this ultimately translates into retention benefits. Drawing on insights from the institutional logics literature and identity theory, we develop hypotheses on how the retention effect varies with the length of employee exposure to social impact projects, the employee's prior business experience within or outside the firm, and the novelty of such projects in the employee’s work environment. Empirical analysis of 912 social impact project participants and matched non-participants provide evidence in line with our predictions.

Abstract: This research highlights the value of human capital embedded in founder-CEO for the acquirer. Our findings suggest that acquirers prefer to keep founder-CEO in post-acquisition. Moreover, the result shows that the value of human capital embedded in founder-CEO is to the extent that acquirers prefer to keep them even at the expense of managerial redundancies when both firms are highly related. Similarly, by ruling out coordinating role for the founder-CEO in post-acquisition when target is structurally integrated, we find that the acquirers keep them for their human capital. This study is based on the empirical analysis on a sample of 372 acquisitions of small high-tech firms between 2001 and 2005.