Merger and 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. We 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.

Keywords: Mergers & acquisitions; motives; performance criteria; outcome assessment; process research. (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (11)

Published in Thunderbird International Business Review, 2018, 60 ( 4), pp.709-718

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-01832301

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