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Acquisitions, disclosed goals and firm characteristics: A content analysis of family and nonfamily firms

Research output: Contribution to Journal/MagazineJournal articlepeer-review

<mark>Journal publication date</mark>12/2018
<mark>Journal</mark>Journal of Family Business Strategy
Issue number4
Pages (from-to)250-267
Publication StatusPublished
Early online date23/11/18
<mark>Original language</mark>English


Despite the considerable body of research on acquisitions and their goals, we lack insights on how family firms differ from nonfamily firms in their acquisition goals, particularly in view of the characteristics that distinguish family businesses. Thus, to enhance current understanding, we examine firms’ disclosed goals in their deal announcements and find that firm ownership type is an important determinant of acquisition goals. Drawing on the content analysis of 558 deals from 393 firms, we identify seven goal categories. Our findings contextualize several differences in the goals of family and nonfamily firms, contributing to the family firm and acquisition literatures, offering implications for practice and potential avenues for future research.