Managerial Power

Claire E. Ashton-James, Killian McCarthy and Anca Dranca-Iacoban

Chapter 8 in Understanding Mergers and Acquisitions in the 21st Century, 2013, pp 198-222 from Palgrave Macmillan

Abstract: Abstract Between 1995 and 1999, $9,000 billion was spent by North American and Western European firms on mergers and acquisitions (M&As)1; a near incomprehensible figure which, by way of comparison, was about seven times the UK’s gross domestic product (GDP), and more than 20 times that of the Netherlands (Schenk, 2003) in the same period. So large was the expenditure that, as a percentage of US GDP, M&As soared from 1.6% in the 1960s, to 3.4% in the 1980s, to a staggering 15.4% at the height of the ‘fifth merger wave’ in 1999. And as the ‘sixth merger wave’ unfolded (2003-2008), records were again broken, when “the value of M&A averaged $10 billion a day” (The Economist, 8 April 2006).

Keywords: Gross Domestic Product; Managerial Power; Strategic Management Journal; Behavioural Inhibition System; Powerful Individual (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-27807-4_8

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DOI: 10.1057/9781137278074_8

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