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- A practical guide to SEC ï¬nancial reporting and disclosures for successful regulatory crowdfunding
- Quality shareholders versus transient investors: The alarming case of product recalls
- The Health Equity Accelerator at Boston Medical Center
- Monosha Biotech: Growth Challenges of a Social Enterprise Brand
- Assessing the Value of Unifying and De-duplicating Customer Data, Spreadsheet Supplement
- Building an AI First Snack Company: A Hands-on Generative AI Exercise, Data Supplement
- Building an AI First Snack Company: A Hands-on Generative AI Exercise
- Board Director Dilemmas: The Tradeoffs of Board Selection
- Barbie: Reviving a Cultural Icon at Mattel (Abridged)
- Happiness Capital: A Hundred-Year-Old Family Business's Quest to Create Happiness
Mergers and Acquisitions: Overcoming Pitfalls, Building Synergy, and Creating Value
內容大綱
Mergers and acquisitions (M&A) represent a popular strategy used by firms for many years, but the success of this strategy has been limited. In fact, several reviews have shown that, on average, firms create little or no value by making acquisitions. While there has been a significant amount of research on mergers and acquisitions, there appears to be little consensus as to the reasons for outcomes achieved from them. Herein, we begin by reviewing some of the extant research on mergers and acquisitions, identifying the key variables on which the studies have focused. Thereafter, we summarize some of the major work on a primary reason for failure--paying too high a premium--and discuss why executives often delay too long the divestiture of poorly performing businesses that were acquired. Additionally, we examine research suggesting the importance of an acquisition capability based on organizational learning from the acquisitions and complementary science and technology for strategic renewal. Finally, we end with a discussion of the research on cross-border mergers and acquisitions which have become prominent in recent years.