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Merger & acquisition motives and outcome assessment

Author

Listed:
  • Ibne Hassan
  • Pervez Ghauri

    (Birmingham Business School - University of Birmingham [Birmingham])

  • Ulrike Mayrhofer

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

Abstract

Research on M&A outcome often focuses on tangible financial results and the reaction of stock markets. This research attempts to provide a more accurate assessment of M&A performance by linking tangible as well as intangible M&A motives to outcome assessment. The theoretical framework is based on evaluation theory. The authors analyze four case-studies of international M&As conducted by European companies. The findings indicate that M&A outcome can be more accurately measured by aligning it with the motives defined by the acquiring firms. They suggest that M&A outcome assessment should be considered as a process covering both pre-merger and post-merger stages. This study makes a theoretical contribution and augments evaluation theory by connecting M&A motives and M&A performance assessment and treat it as a process evaluation.

Suggested Citation

  • Ibne Hassan & Pervez Ghauri & Ulrike Mayrhofer, 2016. "Merger & acquisition motives and outcome assessment," Post-Print hal-01515651, HAL.
    • Handle: RePEc:hal:journl:hal-01515651
    as

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