...’ evolution to actual-form integration over time and the effect on acquisition value based on structural, temporal and contextual ambidexterity manifestations. The findings divide the evolutionary trajectory into two sub-trajectories, from great autonomy to autonomy-integration balanced or full integration...

... of corporate finance by introducing the institutional effects. Design/methodology/approach – The paper employs the ownership and region to proxy institutional logics, and a time dummy for their evolution and tests how they shape firms' capital structure through panel data regression. Findings...