Title: The impact of multiple-site acquisitions on corporate growth patterns of international terminal operators
Authors: Francesco Parola; Theo Notteboom; Giovanni Satta; Jean-Paul Rodrigue
Addresses: Department of Business and Quantitative Studies, University of Naples 'Parthenope', Via Parisi 13, Naples, Italy ' Transportation Management College, Dalian Maritime University, 1 Linghai Road, 116026 Dalian, China; ITMMA, University of Antwerp, Antwerp Maritime Academy, Belgium ' Department of Economics and Management, University of Genoa, Via Vivaldi 5, Genoa, Italy ' Department of Global Studies and Geography, Hofstra University, Hempstead, New York, USA
Abstract: This paper deals with multiple-site acquisitions by international terminal operators (ITOs). A multiple-site acquisition is an external growth strategy focusing on the simultaneous take-over of an entire terminal portfolio as part of a unique transaction. The paper presents a theoretical framework about how spatial and temporal dimensions of foreign expansion are influenced by these multiple-site acquisitions. It also analyses the impact of multiple acquisitions on the sustainable growth of firms by focusing on the transaction package problem, the locational diversity problem and the irregular growth path problem. The proposed theoretical arguments are illustrated and supported by an analysis of a comprehensive global terminal-specific dataset related to the 1997-2010 period, and case studies on strategic market entry behaviour of two major ITOs.
Keywords: entry modes; multiple-site acquisitions; international terminal operators; firm growth; time compression diseconomies; growth patterns; foreign expansion; transaction packages; locational diversity; irregular growth paths; strategic market entry.
DOI: 10.1504/IJSTL.2015.072018
International Journal of Shipping and Transport Logistics, 2015 Vol.7 No.5, pp.621 - 648
Received: 30 Sep 2013
Accepted: 06 Nov 2014
Published online: 29 Sep 2015 *