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Merger strategy: An examination of Drucker's five rules for successful acquisitions

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  • Frank T. Paine
  • Daniel J. Power

Abstract

This paper critically examines five rules for making successful acquisitions advocated by Peter Drucker. In an attempt to verify the rules, supporting and non‐supporting empirical evidence, opinions and arguments are reviewed. The analysis suggests that the rules are not conclusively supported by current evidence or argument. Adopting these rules does not ensure successful acquisitions and may needlessly limit managers' opportunities for successful acquisitions.

Suggested Citation

  • Frank T. Paine & Daniel J. Power, 1984. "Merger strategy: An examination of Drucker's five rules for successful acquisitions," Strategic Management Journal, Wiley Blackwell, vol. 5(2), pages 99-110, April.
    • Handle: RePEc:bla:stratm:v:5:y:1984:i:2:p:99-110
    DOI: 10.1002/smj.4250050202
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    Cited by:

    1. Michel Barabel & Olivier Meier, 2002. "Biais cognitifs du dirigeant, conséquences et facteurs de renforcement lors de fusions-acquisitions:synthèse et illustrations," Revue Finance Contrôle Stratégie, revues.org, vol. 5(1), pages 5-42, March.
    2. Chelariu Gabriel & Aevoae George Marian, 2017. "A Qualitative Research of Mergers in Non-profit Sector," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 439-444, June.
    3. Lin, Bou-Wen, 2007. "Information technology capability and value creation: Evidence from the US banking industry," Technology in Society, Elsevier, vol. 29(1), pages 93-106.
    4. Hossain, Mohammed Sawkat, 2021. "Merger & Acquisitions (M&As) as an important strategic vehicle in business: Thematic areas, research avenues & possible suggestions," Journal of Economics and Business, Elsevier, vol. 116(C).
    5. Roberto Ragozzino, 2009. "The Effects of Geographic Distance on the Foreign Acquisition Activity of U.S. Firms," Management International Review, Springer, vol. 49(4), pages 509-535, September.
    6. Dandapani, Krishnan & Hibbert, Ann Marie & Lawrence, Edward R., 2020. "The Shareholder's response to a firm's first international acquisition," Journal of Banking & Finance, Elsevier, vol. 118(C).
    7. Blevins, Dane P. & Moschieri, Caterina & Pinkham, Brian C. & Ragozzino, Roberto, 2016. "Institutional changes within the European Union: How global cities and regional integration affect MNE entry decisions," Journal of World Business, Elsevier, vol. 51(2), pages 319-330.

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