Reasons for Frequent Failure in Mergers and Acquisitions A Comprehensive Analysis
Afbeeldingen
Artikel vergelijken
Auteur:
Thomas Straub
Thomas Straub
- Engels
- Paperback
- 9783835008441
- 26 juli 2007
- 244 pagina's
Samenvatting
Too often, academic research is pursued within a narrowly defined academic “field”, necessarily blinding researchers to realities whose essence is inter-disciplinary. If, as noted above, strategic moves do have an impact on lo- term success, it follows that M&A activities are at the core of many business successes… and failures.
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.
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.
Productspecificaties
Wij vonden geen specificaties voor jouw zoekopdracht '{SEARCH}'.
Inhoud
- Taal
- en
- Bindwijze
- Paperback
- Oorspronkelijke releasedatum
- 26 juli 2007
- Aantal pagina's
- 244
- Illustraties
- Nee
Betrokkenen
- Hoofdauteur
- Thomas Straub
- Tweede Auteur
- Thomas Straub
- Hoofduitgeverij
- Deutscher Universitätsverlag
Overige kenmerken
- Editie
- 2007 ed.
- Extra groot lettertype
- Nee
- Product breedte
- 148 mm
- Product hoogte
- 17 mm
- Product lengte
- 210 mm
- Studieboek
- Ja
- Verpakking breedte
- 148 mm
- Verpakking hoogte
- 17 mm
- Verpakking lengte
- 210 mm
- Verpakkingsgewicht
- 366 g
EAN
- EAN
- 9783835008441
Je vindt dit artikel in
- Categorieën
- Boek, ebook of luisterboek?
- Boek
- Taal
- Engels
- Studieboek of algemeen
- Algemene boeken
Kies gewenste uitvoering
Bindwijze
: Paperback
Prijsinformatie en bestellen
Rapporteer dit artikel
Je wilt melding doen van illegale inhoud over dit artikel:
- Ik wil melding doen als klant
- Ik wil melding doen als autoriteit of trusted flagger
- Ik wil melding doen als partner
- Ik wil melding doen als merkhouder
Geen klant, autoriteit, trusted flagger, merkhouder of partner? Gebruik dan onderstaande link om melding te doen.