Acquisition activity: do firm age and family control matter?

Pilar López-Delgado (), Julio Diéguez-Soto, María J. Martínez-Romero () and Teresa Mariño-Garrido ()
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Pilar López-Delgado: Universidad de Málaga
Julio Diéguez-Soto: Universidad de Málaga
María J. Martínez-Romero: Universidad de Almería, La Cañada de San Urbano
Teresa Mariño-Garrido: Clearwater International Corporate Finance

Eurasian Business Review, 2024, vol. 14, issue 2, No 5, 447-473

Abstract: Abstract This article examines the relationship between firm age and acquisition activity and how family and non-family firms differ in the number of acquisitions they undertake. Inspired by previous research requiring firm age as a focal aspect and literature studying the antecedents of acquisitions, we draw on the SEW perspective to test our hypotheses based on the analysis of the acquisition activity of Asia-Pacific public firms. Our empirical findings support a U-shaped relationship between firm age and acquisition activity. Moreover, the findings reveal that family firms engage in fewer acquisitions than non-family firms irrespective of the age of the firm.

Keywords: Firm acquisitions; Firm age; Family firm; Socioemotional wealth; G30; G34 (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/s40821-024-00255-w

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