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The Effect of Resource Complementarity on a Company's Performance Post-Merger and Acquisition in the Southeast Asia Region: The Moderating Role of the Merger and Acquisition Experience

Gadjah Mada International Journal of Business (GamaIJB) · Vol. 24 No. 2 (2022) · hlm. 223–244

DOI
10.22146/gamaijb.61073
ISSN
2338-7238, 1411-1128
Terbit
2022-06-02
Penerbit
Master in Management, Faculty of Economics and Business, Universitas Gadjah Mada
Bahasa
eng
Lisensi
creativecommons.org/licenses/by-sa/4.0

Abstrak

This study examines the effect of resource complementarity on a post-merger and acquisition company's performance, moderated by the bidder's merger and acquisition experience. Resource complementarity is an important aspect that needs to be considered when carrying out mergers and acquisitions (M&A). This study uses a purposive sampling method, which has specific criteria for selecting the sample, while the dataset is cross-sectional. Tests have been conducted on 97 non-financial companies that carried out M&A in Southeast Asia between 2007 to 2017, and their post-M&A performance has been examined. This research’s methodology utilizes a quantitative approach and explanatory variables. The results indicate that resource complementarity has a significant effect on the performance of post-M&A companies. In other words, resource complementarity has a positive and significant effect on changes in the performance of companies after their M&A. The moderation test shows exciting findings, namely, for companies with little experience, the effect of resource complementarity on post-M&A performance is more substantial. This study has practical recommendations for decision-makers. When conducting their M&A, organizations should select targets with complementary resources and not depend on prior experience, since it is not necessarily applicable to the present circumstances. Furthermore, as they integrate feedback systems to relate earlier experiences, the acquisition experience will have a more robust learning impact.

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Sumber metadata: OAI-PMH (metadata jurnal) https://journal.ugm.ac.id/gamaijb/oai, pertama di-harvest 28 Okt 2026, terakhir terlihat 8 Nov 2026.
Metadata asli (oai_dc) 
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	<dc:title xml:lang="en-US">The Effect of Resource Complementarity on a Company's Performance Post-Merger and Acquisition in the Southeast Asia Region: The Moderating Role of the Merger and Acquisition Experience</dc:title>
	<dc:creator>Prayogi, Joni</dc:creator>
	<dc:creator>Wibowo, Amin</dc:creator>
	<dc:subject xml:lang="en-US">Bussines; Management; Strategic</dc:subject>
	<dc:subject xml:lang="en-US">mergers and acquisitions, firm performance, experience, resource-based view, resource complementarity, ASEAN</dc:subject>
	<dc:subject xml:lang="en-US">G34, L21, L25, M21</dc:subject>
	<dc:description xml:lang="en-US">This study examines the effect of resource complementarity on a post-merger and acquisition company's performance, moderated by the bidder's merger and acquisition experience. Resource complementarity is an important aspect that needs to be considered when carrying out mergers and acquisitions (M&amp;A). This study uses a purposive sampling method, which has specific criteria for selecting the sample, while the dataset is cross-sectional. Tests have been conducted on 97 non-financial companies that carried out M&amp;A in Southeast Asia between 2007 to 2017, and their post-M&amp;A performance has been examined. This research’s methodology utilizes a quantitative approach and explanatory variables. The results indicate that resource complementarity has a significant effect on the performance of post-M&amp;A companies. In other words, resource complementarity has a positive and significant effect on changes in the performance of companies after their M&amp;A. The moderation test shows exciting findings, namely, for companies with little experience, the effect of resource complementarity on post-M&amp;A performance is more substantial. This study has practical recommendations for decision-makers. When conducting their M&amp;A, organizations should select targets with complementary resources and not depend on prior experience, since it is not necessarily applicable to the present circumstances. Furthermore, as they integrate feedback systems to relate earlier experiences, the acquisition experience will have a more robust learning impact.</dc:description>
	<dc:publisher xml:lang="en-US">Master in Management, Faculty of Economics and Business, Universitas Gadjah Mada</dc:publisher>
	<dc:contributor xml:lang="en-US"></dc:contributor>
	<dc:date>2022-06-02</dc:date>
	<dc:type>info:eu-repo/semantics/article</dc:type>
	<dc:type>info:eu-repo/semantics/publishedVersion</dc:type>
	<dc:type xml:lang="en-US">Peer-reviewed Article</dc:type>
	<dc:format>application/pdf</dc:format>
	<dc:identifier>https://journal.ugm.ac.id/gamaijb/article/view/61073</dc:identifier>
	<dc:identifier>10.22146/gamaijb.61073</dc:identifier>
	<dc:source xml:lang="en-US">Gadjah Mada International Journal of Business; Vol 24, No 2 (2022): May - August 2022; 223-244</dc:source>
	<dc:source>2338-7238</dc:source>
	<dc:source>1411-1128</dc:source>
	<dc:language>eng</dc:language>
	<dc:relation>https://journal.ugm.ac.id/gamaijb/article/view/61073/33903</dc:relation>
	<dc:rights xml:lang="en-US">Copyright (c) 2022 Gadjah Mada International Journal of Business</dc:rights>
	<dc:rights xml:lang="en-US">http://creativecommons.org/licenses/by-sa/4.0</dc:rights>
</oai_dc:dc>