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Stakeholder and merger and acquisition research: a structured literature review

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  • Simon Segal
  • James Guthrie
  • Johannes Dumay

Abstract

This paper reviews literature that links stakeholders and mergers and acquisitions (M&A) to develop insights into how such research is developing, critique the research, and outline future research opportunities, not least in accounting and finance. Using a structured literature review (SLR) approach, we find such research is expanding in investigating diverse stakeholders and in analytic approaches, research methods and disciplines. With a shareholder focus, accounting and finance publications still largely ignore non‐shareholder stakeholders in researching M&A. The literature is dominated by a unidirectional analysis that primarily considers the effect M&A has on stakeholders, falls short in investigating inter‐ and intra‐stakeholder relationships and in eliciting the complex web of relationships between an M&A process and stakeholders.

Suggested Citation

  • Simon Segal & James Guthrie & Johannes Dumay, 2021. "Stakeholder and merger and acquisition research: a structured literature review," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 61(2), pages 2935-2964, June.
    • Handle: RePEc:bla:acctfi:v:61:y:2021:i:2:p:2935-2964
    DOI: 10.1111/acfi.12688
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    3. Patrizia Gazzola & Stefano Amelio & Daniele Grechi & Chiara Alleruzzo, 2022. "Culture and sustainable development: The role of merger and acquisition in Italian B Corps," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 29(5), pages 1546-1559, September.

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