Not all Acquirers perform the same, and that matters

Angwin, Duncan Neil and Urs, Uma and Thanos, Ioannis and Appadu, Naag (2017) Not all Acquirers perform the same, and that matters. In: SMS Special Conference in Costa Rica, 2017-12-142017-12-16, INCAE Business School.

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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.

Item Type:
Contribution to Conference (Paper)
Journal or Publication Title:
SMS Special Conference in Costa Rica
Additional Information:
Strategic Management Society Special Conference on M&A, Costa Rica.
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Deposited On:
18 Jan 2018 13:16
Last Modified:
12 Apr 2022 23:51