Merger & acquisition motives and outcome assessment

Ibne Hassan, Pervez Ghauri and Ulrike Mayrhofer ()
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Pervez Ghauri: Birmingham Business School - University of Birmingham [Birmingham]
Ulrike Mayrhofer: MAGELLAN - Laboratoire de Recherche Magellan - UJML - Université Jean Moulin - Lyon 3 - Université de Lyon - Institut d'Administration des Entreprises (IAE) - Lyon

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Abstract: Research on M&A outcome often focuses on tangible financial results and the reaction of stock markets. This research attempts to provide a more accurate assessment of M&A performance by linking tangible as well as intangible M&A motives to outcome assessment. The theoretical framework is based on evaluation theory. The authors analyze four case-studies of international M&As conducted by European companies. The findings indicate that M&A outcome can be more accurately measured by aligning it with the motives defined by the acquiring firms. They suggest that M&A outcome assessment should be considered as a process covering both pre-merger and post-merger stages. This study makes a theoretical contribution and augments evaluation theory by connecting M&A motives and M&A performance assessment and treat it as a process evaluation.

Keywords: Mergers & acquisitions; motives; performance criteria; outcome assessment; process research. (search for similar items in EconPapers)
Date: 2016-12-02
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Published in 42nd EIBA (European International Business Academy) Conference, Dec 2016, Vienna, Austria

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-01515651

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