January 2009
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Revista Europea de Dirección y Economía de la Empresa
In this paper we analyze the determinants of knowledge exploration in the adquisition integration process. We propose that acquisitions can create value by knowledge exploration and we analyze how management integration choices on centralization, formalization and socialization are determinants of the knowledge exploration level. Using data from 45 acquisitions made in Spain from 2000 to 2006 and using partial least squares techniques, we demonstrate that the acquisition integration process for knowledge exploration relies on high levels of socialization and autonomy between the acquirer firm and the acquired firm, and that knowledge exploration is a relevant source of value creation.