Reasons for Frequent Failure in Mergers and Acquisitions: A Comprehensive Analysis - Couverture souple

Straub, Thomas

Couverture souple

ISBN 10 : 3835008447 ISBN 13 : 9783835008441

Editeur : Deutscher Universitätsverlag, 2007

Synopsis

Despite the goal of performance improvement, results from mergers and acquisitions (M&A) are often disappointing. Numerous empirical studies show high failure rates of M&A deals. Studies are mostly focused on individual determinants. The literature therefore lacks a more comprehensive framework that includes different perspectives.

Using four statistical methods, Thomas Straub shows that M&A performance is a multi-dimensional function. For a successful deal, the following key success factors should be taken into account:
• Strategic logic which is reflected by six determinants: market similarities, market complementarities, operational similarities, operational complementarities, market power, and purchasing power.
• Organizational integration which is reflected by three determinants: acquisition experience, relative size, cultural compatibility.
• Financial / price perspective which is reflected by three determinants: acquisition premium, bidding process, and due diligence.
All 12 variables are presumed to affect performance either positively or negatively. Post-M&A performance is measured by synergy realization, relative performance (compared to competition), and absolute performance.

A propos du livre

À propos de l?auteur

Dr. Thomas Straub ist Professor für Unternehmensführung und Organisation am Fachbereich Wirtschaft und Verwaltung der Fachhochschule Bern

Détails de l'édition

• Éditeur: Deutscher Universitätsverlag
• Date d'édition: 2007
• Langue: anglais
• ISBN 10: 3835008447
• ISBN 13: 9783835008441
• Reliure: Broché
• Nombre de pages: 244
• Coordonnées du fabricant: ProductSafety@springernature.com; ProductSafety@springernature.com; ; Poststr. 9; Darmstadt; 64293; Allemagne