01480nas a2200157   4500008004100000245009800041210006900139260000900208300000900217490000700226520088900233653003201122100001801154700002201172856012801194       2018                        eng d00aThe Influence of Alliance Experience on Acquisition Premiums and Post-acquisition Performance0 aInfluence of Alliance Experience on Acquisition Premiums and Pos  c2018  a1-100 v883 aThis paper examines the influence of acquirers’ alliance experience on acquisition outcomes. Specifically, we investigate whether or not acquirers with alliance experience pay higher acquisition premiums and achieve improved post-acquisition performance. We also investigate how the impact of acquirers’ alliance experience is contingent on the alliance portfolios of target firms. We find that acquirers with alliance experience pay higher acquisition premiums but lower acquisition premiums when their target firms possess alliance portfolios of greater size or diversity. We also find that such acquirers achieve higher post-acquisition performance when the size of alliance portfolios of target firms is larger. Overall, this study suggests that alliance experience can help acquirers develop organizational knowledge and capabilities, and thus influence acquisition outcomes.10aStrategy & Entrepreneurship1 aCho, Sam, Yul1 aArthurs, Jonathan  u/biblio/influence-alliance-experience-acquisition-premiums-and-post-acquisition-performance