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Reputation, e-reputation and value creation of mergers-acquisitions

Author

Listed:
  • Ludivine Chalencon

    (Laboratoire de Recherche Magellan - UJML - Université Jean Moulin - Lyon 3 - Université de Lyon - Institut d'Administration des Entreprises (IAE) - Lyon)

  • Ana Colovic

    (NEOMA - Neoma Business School)

  • Olivier Lamotte
  • Ulrike Mayrhofer

    (Laboratoire de Recherche Magellan - UJML - Université Jean Moulin - Lyon 3 - Université de Lyon - Institut d'Administration des Entreprises (IAE) - Lyon)

Abstract

This article investigates the effects of reputation and e-reputation on the value created by mergers and acquisitions (M&As). Building on the resource-based view, we study the impact of the acquirer's reputation on financial market reactions to M&A announcements. The empirical study is based on a sample of 187 M&As involving French multinationals of the CAC 40 index and an online survey of their reputation. The statistical analysis shows that reputation has a significant, positive influence on M&A value-creation. The findings also highlight the fact that reputation matters regardless of the geographic location of the target companies. Our study makes theory of the role of intangible assets in firm performance more specific by highlighting the positive impact of reputation on the financial evaluation of M&A operations.

Suggested Citation

  • Ludivine Chalencon & Ana Colovic & Olivier Lamotte & Ulrike Mayrhofer, 2017. "Reputation, e-reputation and value creation of mergers-acquisitions," Post-Print hal-01515649, HAL.
    • Handle: RePEc:hal:journl:hal-01515649
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    Cited by:

    1. Valentino, Alfredo & Mayrhofer, Ulrike & Caroli, Matteo, 2022. "Internal and external drivers of anticorruption policies in multinationals," International Business Review, Elsevier, vol. 31(6).
    2. Lamotte, Olivier & Chalençon, Ludivine & Mayrhofer, Ulrike & Colovic, Ana, 2021. "Intangible resources and cross-border acquisition decisions: The impact of reputation and the moderating effect of experiential knowledge," Journal of Business Research, Elsevier, vol. 131(C), pages 297-310.

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