THE EVOLUTION OF MERGERS AND ACQUISITIONS IN CENTRAL AND EASTERN EUROPE AND THE IMPACT OF THE ECONOMIC CRISIS ON THEM

Bogdan Sticlosu Ph. D Student and Bogdan Pîrvulescu Ph. D Student
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Bogdan Sticlosu Ph. D Student: University of Craiova, Faculty of Economy and Business Administration, Romania
Bogdan Pîrvulescu Ph. D Student: University of Craiova, Faculty of Economy and Business Administration, Romania

Revista Tinerilor Economisti (The Young Economists Journal), 2015, vol. 1, issue 25, 57-64

Abstract: In order to fulfill the recovery and development objective, the companies may choose from internal or external growth strategies, but most of the time they turn to mixes of them. The growth strategy through mergers and acquisitions is often preferred against the internal development or forming alliances/groups/clusters etc., because the decision makers wish to hold complete control and to protect themselves of the unforeseen represented by another manager’s decision given that choosing a strategy from the ones mentioned previously may lead to similar results with financial effort and less risks. The companies’ mergers respond to the growth strategies the decision makers adopt, regardless if the result is wished to be the increase of the market share and obtaining key advantages (mergers that respond to offensive strategy) or the strengthening position in a sector and moment of the market that do not offer growth opportunities (defensive strategies).

Keywords: recovery; merger; external growth; transnational mergers; acquisitions; absorption mergers; horizontal mergers; vertical mergers (search for similar items in EconPapers)
JEL-codes: H13 M16 M40 M42 O11 (search for similar items in EconPapers)
Date: 2015
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