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

Teerikangas, Satu and Thanos, Ioannis (2018) Looking into the ‘black box’:unlocking the effect of integration on acquisition performance. European Management Journal, 36 (3). pp. 366-380. ISSN 0263-2373

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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.

Item Type:
Journal Article
Journal or Publication Title:
European Management Journal
Additional Information:
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
Uncontrolled Keywords:
/dk/atira/pure/subjectarea/asjc/1400/1408
Subjects:
ID Code:
87264
Deposited By:
Deposited On:
07 Aug 2017 13:46
Refereed?:
Yes
Published?:
Published
Last Modified:
30 Sep 2020 07:02