Home > Research > Publications & Outputs > Looking into the ‘black box’

Electronic data

  • MA_Performance_11042017 (1)

    Rights statement: This is the author’s version of a work that was accepted for publication in European Management Journal. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in European Management Journal, 36, 3, 2018 DOI: 10.1016/j.emj.2017.06.002

    Accepted author manuscript, 280 KB, PDF document

    Available under license: CC BY-NC-ND: Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License

Links

Text available via DOI:

View graph of relations

Looking into the ‘black box’: unlocking the effect of integration on acquisition performance

Research output: Contribution to journalJournal article

Published
<mark>Journal publication date</mark>06/2018
<mark>Journal</mark>European Management Journal
Issue number3
Volume36
Number of pages15
Pages (from-to)366-380
Publication statusPublished
Early online date12/08/17
Original languageEnglish

Abstract

Extending research on the performance of Mergers and Acquisitions (M&As), this paper seeks to explain how the post-acquisition integration phase affects acquisition performance. Despite extensive research efforts, there remains a scant understanding of how acquisition implementation, particularly in the post-acquisition integration phase, impacts the performance of M&As. Based on an extensive study of eight acquisitions, in this paper, a grounded model detailing the mechanisms by which the post-acquisition integration phase affects acquisition performance is developed. The model posits that integration-related factors do not bear directly upon acquisition performance. Instead, their effect is mediated by functional organizations in both firms. When focusing into these functional mediating dynamics, we observe that integration-related processual, behavioural and cultural factors affect the identified functional mediators in different ways. Going forward, we echo calls for integrated perspectives to the study of M&A and M&A performance in particular.

Bibliographic note

This is the author’s version of a work that was accepted for publication in European Management Journal. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in European Management Journal, 36, 3, 2018 DOI: 10.1016/j.emj.2017.06.002