Determinants and Consequences of Post-Acquisition Change

Mark T. Shanley

Chapter 15 in The Management of Corporate Acquisitions, 1994, pp 391-413 from Palgrave Macmillan

Abstract: Abstract A major wave of acquisition activity developed in the US after 1976 (Golbe and White 1988). Evidence on the results of this activity for corporate acquirers is mixed (Porter 1987), while claims about its negative consequences for stakeholders have prompted numerous concerns (Siegfried and Sweeney 1982). The mechanisms by which acquisitions create value are unclear and little attention is devoted to what happens in firms after changes in ownership (Shanley and Correa 1992).1 This chapter studies the determinants and consequences of post-acquisition changes for 51 Fortune 500 acquisitions. Our results suggest that changes are best understood by an incremental management style that avoids disruptions, maintains flexibility, and maximises organisational learning.

Keywords: Initial Change; Acquisition Activity; Acquisition Performance; Planning Intensity; Administrative Change (search for similar items in EconPapers)
Date: 1994
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DOI: 10.1007/978-1-349-13016-0_15

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