Acquisitions as exaptation: The legacy of founding institutions in the U.S. commercial banking industry

Christopher Marquis; Zhi Huang

doi:10.5465/amj.2010.57318393

Acquisitions as exaptation: The legacy of founding institutions in the U.S. commercial banking industry

Christopher Marquis
, Zhi Huang

Management

Producción científica: Article › revisión exhaustiva

154 Citas (Scopus)

Resumen

This study focuses on how founding institutions impact intraorganizational capabilities and how such imprints may have different external manifestations in subsequent historical eras. We introduce the concept of exaptation to organizational theory, identifying an important process whereby the historical origin of a capability differs from its current usefulness. Three founding conditions-branching policy, modernization, and political culture-influenced banks' development of capabilities for managing dispersed branches, and these capabilities subsequently led to variation in banks' propensity to engage in acquisitions.

Idioma original	English
Páginas (desde-hasta)	1441-1473
Número de páginas	33
Publicación	Academy of Management Journal
Volumen	53
N.º	6
DOI	https://doi.org/10.5465/amj.2010.57318393
Estado	Published - dic 1 2010

Nota bibliográfica

Funding Information:
The experimental data presented in this paper have been obtained during first author's doctoral study at Nanyang Technological University in Singapore. The research scholarship provided by Nanyang Technological University is gratefully acknowledged.

Funding Information:
The experimental data presented in this paper have been obtained during first author’s doctoral study at Nanyang Technological University in Singapore. The research scholarship provided by Nan-yang Technological University is gratefully acknowledged.

Financiación

The experimental data presented in this paper have been obtained during first author's doctoral study at Nanyang Technological University in Singapore. The research scholarship provided by Nanyang Technological University is gratefully acknowledged. The experimental data presented in this paper have been obtained during first author’s doctoral study at Nanyang Technological University in Singapore. The research scholarship provided by Nan-yang Technological University is gratefully acknowledged.

ASJC Scopus subject areas

Business and International Management
General Business, Management and Accounting
Strategy and Management
Management of Technology and Innovation

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Acquisitions as exaptation: The legacy of founding institutions in the U.S. commercial banking industry

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ASJC Scopus subject areas

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