How to improve acquisition performance: : The role of a dedicated M&A function, M&A learning process, and M&A capability

• Autores: Anja Trichterborn, Dodo zu Knyphausen-Aufseß, Lars Schweizer
• Localización: Strategic management journal, ISSN 0143-2095, Vol. 37, Nº 4, 2016, págs. 763-773
• Idioma: inglés
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• Resumen

  • How to improve the performance of mergers & acquisitions (M&A) continues to be a confounding issue. We show that a dedicated M&A function is a new phenomenon that is positively related to a firm's M&A performance and M&A learning process. Moreover, we find that an M&A learning process (involving articulation, codification, sharing, and internalization) helps build up an M&A capability, which in turn is positively related to a firm's overall M&A performance. We use survey data from a sample drawn from the M&A activities of German firms to test our arguments.