Research

[2] Tang, L. “Corporate development executives and M&A performance” Second Round Revise and Resubmit at Strategic Management Journal

Read abstract

While prior research has examined organizational- and CEO-level antecedents to M&A capabilities, less is known about how those below the CEO may shape the ways in which firms conduct acquisitions. In this study, I argue that Corporate Development Executives (CDEs), the specialized executives who lead M&A efforts inside companies, also play an important role in the M&A process. Through a hand-collected dataset on CDEs in S&P 500 IT firms, I find an inverted U-shaped relationship between their prior M&A experience and subsequent M&A performance, and I document the conditions under which CDEs' M&A experience may complement or substitute that of the CEO and the firm. This study contributes to corporate strategy and organizational learning literatures by unveiling novel insights on the microfoundations of M&A capabilities.

• Honorable Mention, Best Conference Paper Prize, 2019 SMS Annual Conference

• Winner, Best Conference PhD Paper Prize, 2019 SMS Annual Conference

• Winner, Corporate Strategy Interest Group Best Paper Award, 2019 SMS Annual Conference

• Winner, Strategy Research Foundation Dissertation Fellowship (2018-2020)

• Winner, Jacobs Levy Equity Management Center Research Fellowship (2017-2020)

• Winner, Mack Institute Research Fellowship (2016-2020)

[3] Albert, D., Eklund, J. & Tang, L. “A new organizational structure database: Examining structure through management team and segment attributes” (Equal authorship) Under view. SSRN | Video Presentation

Read abstract

Despite its importance, research on organizational structure witnessed a hiatus from the mid-1980s to the 2010s, primarily due to challenges in accessing and analyzing comprehensive multi-firm structural data. We address this lacuna by introducing a novel, meticulously hand-collected dataset of top management team (TMT) compositions of S&P 500 firms in the last three decades. Employing advanced generative AI models, we categorize executives’ titles into six role groups and 12 hierarchical levels, allowing easier comparisons of structures across firms. Our findings not only align with previous research but also offer deeper insights into industry-specific structural changes, functional distributions within organizations, and the evolution of executive roles over time. In addition, this work highlights the potential of generative AI in enriching empirical investigations of central strategy questions.

• Winner, Best Research Methods Paper Prize, 2024 SMS Annual Conference

• Winner, Longitudinal and Multidisciplinary Research Grant, The Institute for Outlier Research in Business, USC Marshall School of Business, University of Southern California

• Winner, Ministry of Education Academic Research Fund Tier 1 Grant, Singapore

[4] Lu, J., Ng, W., & Tang, L. “Career outcomes of acquired employees in technology acquisitions” (Equal authorship) Preparing for submission

[5] Contigiani, A. & Tang, L. “Modes of corporate development and technology change in the electric vehicles industry” (Equal authorship)

[6] Tang, L., Feldman, E., Ng, W. & Mitchell, W. “What are serial acquirers and why do firms become them?”

[7] Balachandran, S. & Tang, L. “Firm heterogeneity in engagement with private equity in the market for corporate assets” (Equal authorship)

[8] Tang, L. & Feldman, E. “The strategic complementarity between M&A and R&D”

[9] Tang, L., Shi, W. & Gai, S. “The effect of internal control on cross-border M&A: A strategic fit perspective”

[10] Tang, L. “Where do M&A capabilities come from? M&A executives and prior task environments”