Reasons for Frequent Failure in Mergers and Acquisitions
A Comprehensive Analysis
Autoren: Straub, Thomas
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- Über dieses Buch
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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.
- Über den Autor
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Dr. Thomas Straub ist Professor für Unternehmensführung und Organisation am Fachbereich Wirtschaft und Verwaltung der Fachhochschule Bern
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Bibliografische Information
- Bibliographic Information
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- Buchtitel
- Reasons for Frequent Failure in Mergers and Acquisitions
- Buchuntertitel
- A Comprehensive Analysis
- Autoren
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- Thomas Straub
- Copyright
- 2007
- Verlag
- Deutscher Universitätsverlag
- Copyright Inhaber
- Gabler Verlag | Springer Fachmedien Wiesbaden GmbH, Wiesbaden
- eBook ISBN
- 978-3-8350-9637-0
- DOI
- 10.1007/978-3-8350-9637-0
- Softcover ISBN
- 978-3-8350-0844-1
- Auflage
- 1
- Seitenzahl
- XIV, 227
- Themen
