The process of identifying and evaluating a target firm, completing a deal after its negotiation and announcement, and then integrating a target firm after legal combination is a multi-year process with uncertain returns to acquiring firms. Research on mergers and acquisitions (M&As) is progressing rapidly yet it remains fragmented across multiple research perspectives that largely examine different acquisition phases separately and coincide with a focus on different research variables. As a result, research fragmentation means that a researcher in one area may be unaware of research from related areas that is likely relevant. This contributes to research silos with M&A research displaying different traditions, starting points, and assumptions.
Mergers and Acquisitions: A Research Overview summarizes the frontier in M&A research and provides insights into where it can be expanded. It undertakes the needed integration and reconciliation of research in order to derive practical knowledge for managing acquisitions from beginning to end, providing a summary of what is known and its implications for future research.
This concise overview reconciles and integrates the state of the art in our understanding of mergers and acquisitions, providing an essential first stopping point in the research journey of students and scholars working in this area.
Table of Contents
1. Introduction; 2. Content of Change; 3. Context of Change; 4. Process of Change; 5. Change Outcomes; 6. Conclusion
David R. King is the Department Chair and Higdon Professor of Management at Florida State University, where he teaches undergraduate and graduate business strategy. His research focuses on complementary resources, merger and acquisition (M&A) integration and performance, technology innovation, and defense procurement.
Florian Bauer is Professor of Strategy, Entrepreneurship and Innovation at Lancaster University Management School. His research focuses on the fields of strategy, mergers & acquisitions, and the effects of decision-making.
Svante Schriber is an Associate Professor at Stockholm Business School, Stockholm University, Sweden. His research interests center on strategic management, specifically the strategic, competitive, and integration aspects of M&A.
'This book by accomplished and respected scholars examines mergers and acquisitions using the unique lens of organizational change. It provides a fine-grained evaluation of M&As and their outcomes for a broad set of stakeholders resulting in a greater understanding of this important strategic action. It is a must read for scholars and practitioners alike.' — Michael A. Hitt, University Distinguished Professor Emeritus, Mays Business School, Texas A&M University, USA
'This book represents a thorough coverage of what we currently know and need to know about mergers and acquisitions (M&A) built around a unique and useful organizing framework. The authors provide a refreshing look at M&A, highlighting the realities that acquisitions differ in important ways, are driven by different contextual histories, and may be composed of configurations of subprocesses that differentially affect outcomes. This is an important book for serious researchers who want to go beyond the typically incremental advances in our understanding of M&A.' — Bruce T. Lamont, Jim Moran Eminent Scholar of Business Administration, The Florida State University, USA