Thomas Straub

Reasons for Frequent Failure in Mergers and Acquisitions (eBook, PDF)

A Comprehensive Analysis

• Format: PDF

Produktbeschreibung

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.

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Produktdetails

• Verlag: Deutscher Universitätsverlag
• Seitenzahl: 227
• Erscheinungstermin: 16. Oktober 2007
• Englisch
• ISBN-13: 9783835096370
• Artikelnr.: 37494997

Autorenporträt

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

Inhaltsangabe

Reasons for M&A Failure - a Comprehensive Model
Strategic Management
Market similarities, Market Complementarities, Operational Similarities, Operational Complementarities, Market Power, and Purchasing Power
Organizational Behavior
Acquisition Experience, Relative Size, Cultural Compatibility
Financial / Price Perspective
Acquisition Premium, Bidding Process, and Due Diligence
Quantitative Research
Partial least squares (PLS)
Comprehensive Model using Structural Equation Modelling
Comprehensive Performance Measure