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Not all Acquirers perform the same, and that matters

Research output: Contribution to conference - Without ISBN/ISSN Conference paper

Published
Publication date12/2017
Original languageEnglish
EventSMS Special Conference in Costa Rica: Collaborative Strategies: New Thinking about Alliances, Mergers, and Acquisitions - INCAE Business School , La Garita, Costa Rica
Duration: 14/12/201716/12/2017
https://www.strategicmanagement.net/costa-rica/overview/overview

Conference

ConferenceSMS Special Conference in Costa Rica
CountryCosta Rica
CityLa Garita
Period14/12/1716/12/17
Internet address

Abstract

Many studies of M&A performance suggest that most fail, using a wide range of methods and criteria for evaluation but based on the general assumption that they aim to maximise value. M&A are also studied at different levels of analysis, notably from strategy, CEO and macro perspectives and yet performance studies have not yet integrated these in a single analysis. This paper draws upon these three levels to create an M&A typology that can then be tested using a CAAR methodology. Results indicate significant differences in performance by M&A type. This suggests that each of the levels of analysis matters and in particular that context plays a crucial role. Our evidence suggests that, contrary to current M&A performance dogma, M&As with a classical strategy and good agent CEO during a boom period, out perform the market and other M&A deals.

Bibliographic note

Strategic Management Society Special Conference on M&A, Costa Rica.