In this paper, findings from the negotiation literature are tested in the context of mergers. Firms' relative threat capacity, surveillance by constituents, accountability to constituents, and the attractiveness of initial offers are shown to predict management's resistance to mergers in a manner consistent with theories in the negotiation literature. The pattern of predicted twoway and threeway interactions support speculations and findings previously reported in the negotiation literature as well. Theoretical and practical implications are discussed.
International Journal of Conflict Management – Emerald Publishing
Published: Feb 1, 1991