Exploration outcomes of M&A: the interplay between coordination mechanisms and acquisition experience

This research reveals how formal and informal coordination mechanisms interact with tacit and explicit M&A experience to drive post-acquisition exploration and innovation outcomes. Informal coordination positively influences post-merger exploration through social bonds and trust, but tacit M&A experience dampens this effect due to lack of reflection and knowledge articulation. Conversely, explicit M&A experience—codified in manuals, checklists, and decision frameworks—unlocks the positive potential of formal coordination mechanisms. Managers should prioritize informal mechanisms for exploration while deliberately codifying past experiences to enable effective formal coordination.