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Research output: Contribution to Journal/Magazine › Journal article › peer-review
Research output: Contribution to Journal/Magazine › Journal article › peer-review
}
TY - JOUR
T1 - Run or Hide
T2 - Changes in Acquisition Behaviour During the Covid-19 Pandemic
AU - Bauer, Florian
AU - Friesl, Martin
AU - Dao, Mai Anh
N1 - This article is (c) Emerald Group Publishing and permission has been granted for this version to appear here. Emerald does not grant permission for this article to be further copied/distributed or hosted elsewhere without the express permission from Emerald Group Publishing Limited.
PY - 2022/2/28
Y1 - 2022/2/28
N2 - Purpose: M&A are an important strategic tool for continuous adaptation, sustainable corporate development, and external growth. At the same time, M&A involve high levels of risk with mixed performance results even under normal circumstances. Even though the M&A market was continuously growing for the last decade, it was abruptly ended by the Covid-19 pandemic as executives were more concerned about liquidity than with long term growth strategies. This raises the question how M&A behaviour is affected by the economic fall-out of the Covid-19 pandemic. Design/methodology/approach: Mixed method research design Findings: We particularly investigate how target selection as well as synergy management are affected by the pandemic. Our analysis reveals four archetypical responses to the Covid-19 crisis. We describe those responses in detail and analyze antecedents that seem to influence firms’ acquisition behaviour during the pandemic. Originality: The paper draws on survey and interview data of M&A practitioners
AB - Purpose: M&A are an important strategic tool for continuous adaptation, sustainable corporate development, and external growth. At the same time, M&A involve high levels of risk with mixed performance results even under normal circumstances. Even though the M&A market was continuously growing for the last decade, it was abruptly ended by the Covid-19 pandemic as executives were more concerned about liquidity than with long term growth strategies. This raises the question how M&A behaviour is affected by the economic fall-out of the Covid-19 pandemic. Design/methodology/approach: Mixed method research design Findings: We particularly investigate how target selection as well as synergy management are affected by the pandemic. Our analysis reveals four archetypical responses to the Covid-19 crisis. We describe those responses in detail and analyze antecedents that seem to influence firms’ acquisition behaviour during the pandemic. Originality: The paper draws on survey and interview data of M&A practitioners
KW - Covid-19
KW - Mergers & Acquisitions
KW - target screening
KW - synergy
U2 - 10.1108/JSMA-02-2021-0046
DO - 10.1108/JSMA-02-2021-0046
M3 - Journal article
VL - 15
SP - 38
EP - 53
JO - Journal of Strategy and Management
JF - Journal of Strategy and Management
SN - 1755-425X
IS - 1
ER -