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The Effect of M&As on High-Performer Turnover

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  • Schmid, Andreas R.
  • Bodenmann, Heidi E.
  • Arena, Fabio

Abstract

This study investigates the question whether high performers are less likely to quit a family firm in the post-merger phase than if they were in non-family firms. We use Mobley’s (1977) Model of Employee Turnover as a cognitive framework and job embeddedness literature to examine how the distinguishing characteristics of family firms affect the distinctive stages of the high-performer turnover process. Using data from the Swiss CRANET survey 2014, with a sample of 245 family- and non-family firms in Switzerland, we find that M&A shocks lead to higher high-performer turnover, and that family firms show a lower level of high-performer turnover after an M&A than non-family firms. Our findings indicate that specific family business characteristics may buffer the detrimental impact of M&As on high-performer turnover.

Suggested Citation

  • Schmid, Andreas R. & Bodenmann, Heidi E. & Arena, Fabio, 2023. "The Effect of M&As on High-Performer Turnover," Die Unternehmung - Swiss Journal of Business Research and Practice, Nomos Verlagsgesellschaft mbH & Co. KG, vol. 77(2), pages 202-222.
    • Handle: RePEc:nms:untern:10.5771/0042-059x-2023-2-202
    DOI: 10.5771/0042-059X-2023-2-202
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