Research output: Contribution to Journal/Magazine › Journal article › peer-review
Research output: Contribution to Journal/Magazine › Journal article › peer-review
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TY - JOUR
T1 - Strategic perspectives on European cross-border acquisitions
T2 - a view from top European executives
AU - Angwin, Duncan
AU - Savill, Brett
PY - 1997/8
Y1 - 1997/8
N2 - European cross-border activity has increased tenfold in value over the last ten years and yet there are few studies of this important phenomenon. This study provides an up-to-the-minute view of European top managers' perceptions of key strategic issues; whether acquiring in Europe is still a strategic priority, the advantages and disadvantages of using crossborder acquisitions, what makes a good target and in what ways advisors can assist in the process. We interviewed 142 top executives of large European acquirers in the six nations most active in cross-border acquisitions. They suggest that Europe is still a strategic priority and that crossborder acquisitions offer several advantages. However, they are perceived as risky, and this risk is largely internal in nature. This perception was linked to familiarity and experience. The dominant acquirer in Europe, the UK, appears to have a significantly different approach to managing these risks.
AB - European cross-border activity has increased tenfold in value over the last ten years and yet there are few studies of this important phenomenon. This study provides an up-to-the-minute view of European top managers' perceptions of key strategic issues; whether acquiring in Europe is still a strategic priority, the advantages and disadvantages of using crossborder acquisitions, what makes a good target and in what ways advisors can assist in the process. We interviewed 142 top executives of large European acquirers in the six nations most active in cross-border acquisitions. They suggest that Europe is still a strategic priority and that crossborder acquisitions offer several advantages. However, they are perceived as risky, and this risk is largely internal in nature. This perception was linked to familiarity and experience. The dominant acquirer in Europe, the UK, appears to have a significantly different approach to managing these risks.
KW - Cross border M&A
KW - Top executives
U2 - 10.1016/S0263-2373(97)00021-2
DO - 10.1016/S0263-2373(97)00021-2
M3 - Journal article
VL - 15
SP - 423
EP - 435
JO - European Management Journal
JF - European Management Journal
SN - 0263-2373
IS - 4
ER -