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The Handbook of Mergers and Acquisitions

The Handbook of Mergers and Acquisitions

  • Author:
  • Publisher: Oxford University Press
  • ISBN: 9780198703884
  • Published In: February 2014
  • Format: Paperback , 784 pages
  • Jurisdiction: International ? Disclaimer:
    Countri(es) stated herein are used as reference only

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  • Description 
  • Contents 
  • Author 
  • Details

    • Interdisciplinary approach providing a holistic overview of the strategic, financial, and sociocultural dimensions of M&A management
    • State of the art reviews by leading international M&A scholars
    • Novel lenses into M&A management, e.g. power and politics, M&A typologies, review of M&A waves, silent forces shaping M&A performance
    • Provides synthesis, interdisciplinary models of M&A management

    With its inception at the end of the nineteenth century as a means of consolidation and reorganization, mergers and acquisitions (M&A) have since become quasi-institutionalized as one of the primary strategic options for organizations, as they seek to secure their position in an ever more competitive and globalizing market place. Despite the optimism surrounding M&A as strategic moves, research on post-merger company performance suggests that most firms engaging in M&A activity do not achieve the sought-after performance targets, either immediately or in the years following the deal. What is it that drives M&A activity when research results do not support the performance expectations of these undertakings? Alternatively, have M&A scholars got it all wrong in the way that M&A performance is measured? Is the topic too complex, enduring, and multifaceted to study?

    The Handbook argues that the field of M&A is in need of a re-rooting: past research needs to be critically reviewed, and fundamental assumptions revisited. A key issue preventing efforts in the practice and study of M&A from achieving dynamic syntheses has been the disciplinary gulf separating strategy, finance, and human relations schools. The Handbook aims to bridge the hitherto separate disciplines engaged in the study and practice of M&A to provide more meaningful results.

    Toward this end, the Handbook brings together a set of prominent and emerging scholars and practitioners engaged in the study of M&A to provide thought-provoking, state of the art overviews of M&A through four specific 'lenses' - strategic, financial, socio-cultural, and sectorial approaches. By summarizing key findings in current research and exploring ways in which the differing approaches could and should be 'synthesized', it aims to highlight the key issues facing M&A practitioners and academics at the dawn of the third millennium.

     

    Readership: Academics, researchers, and graduate students in Strategy, Finance, and HR; M&A business practitioners

  • 1: David Faulkner, Satu Teerikangas, Richard J. Joseph: Introduction
    Section I: A Strategic Lens for M&A
    2: Kalin Kolev, John Haleblian, and Gerry McNamara: A Review of the Merger and Acquisition Wave Literature
    3: Duncan Angwin: M&A Typologies: A Review
    4: Michel Hitt, David King, Hema Krishnan, Marianna Makri, Mario Schijven, Katsuhiko Shimizu, and Hong Zhu: Creating Value through M&A: Challenges and Opportunities
    5: Ioannis Thanos and Vassilis Papadakis: Unbundling Acquisition Performance: How Do they Perform and How Can This Be Measured?
    6: Thomas Keil, Tomi Laamanen, and Aino Mäkisalo: Acquisitions, Acquisition Programs and Acquisition Capabilities
    Section II A Financial Lens for M&A
    7: Brendan McSweeney and Elina Happonen: Pre-deal Management
    8: Sudi Sudarsanam: Value Creation and Value Appropriation in M&A Deals
    9: Richard J. Joseph and Bill Ryan: Structuring the Transaction
    10: Scott Moeller and Maria Carapeto: Acquiring Distressed and Bankrupt Concerns
    11: Brendan McSweeney: Takeover Strategies, Competitive Bidding and Defensive Tactics
    12: Viktoria Dalko: Leveraged Buyouts
    13: Bill Ryan: Shareholder Value: a Driver of M&A Activity
    Section III: A Socio-Cultural Lens for M&A
    14: Satu Teerikangas and Richard J. Joseph: Post-M&A Integration: An Overview
    15: Susan Cartwright: Individual Response to Mergers and Acquisitions
    16: Satu Teerikangas and Philippe Véry: Culture in M&A: A Critical Synthesis and Steps Forward
    17: David Faulkner, Robert Pitkethly, and John Child: Country Cultural Differences in Acquisition Management
    18: Sajjad Jasimuddin: Knowledge Management in Mergers and Acquisitions
    19: Steffen Giessner, Johannes Ullrich, and Rolf van Dick: A Social Identity Analysis of Mergers and Acquisitions
    20: Janne Tienari and Eero Vaara: Power and Politics in M&A
    21: Satu Teerikangas: Silent Forces Shaping the Performance of Cross-border Acquisitions
    Section IV: A Sectorial Lens for M&A
    22: Harbir Singh and Prashant Kale: Characteristics of Emerging Market Mergers and Acquisitions
    23: Gary A. Dymski: Financial Mergers and Acquisitions: From Regulation to Strategic Repositioning to Geo-economics
    24: Nicholas Fairclough and Samantha Fairclough: Mergers between Professional Service Firms: How the Big 8 Became the Big 5
    25: Annette Ranft, Adelaide Wilcox King, and Jennifer C. Sexton: Examining Resource and Expectational Ambiguity in Technology M&A Integration
    26: Lars Schweizer: Characteristics of Biotechnology Mergers and Acquisitions
    Section V: Synthesis
    27: Satu Teerikangas, Richard J. Joseph, David Faulkner: A Synthesis
    Appendix 1: M&A Motives, Definitions, and Defining Characteristics: Satu Teerikangas, David Faulkner, Richard J. Joseph

  • Edited by David Faulkner, Dean of Magna Carta College, Oxford, Satu Teerikangas, Lecturer, University College London, and Richard J. Joseph, Hult International Business School, Boston

    Professor David Faulkner is Dean of Magna Carta College, Oxford, a private business school that he co-founded in 2007. He is also Professor at Hult International Business School and Professor Emeritus of Strategy at Royal Holloway, University of London. He was formerly official Student (Fellow) of Christ Church, Oxford and Deputy Director of the Saïd Business School, Oxford University. He is an Oxford-educated economist by background, who has spent much of his early career as a strategic management consultant with McKinsey and Co and Arthur D. Little. He gained a Doctorate from Oxford University (D Phil), researching into conditions for success in International Strategic Alliances. He has written and edited thirteen books including, The Oxford Handbook of Strategy (OUP).

    Dr Satu Teerikangas is Lecturer in Management at University College, London. She received her PhD from Helsinki University of Technology. Her research centres on the management of M&A, and has been published in several journals, including the Journal of ManagementHuman Resource Management and the British Journal of Management. She co-edits Special Issues on M&As for the Scandinavian Journal of Management and the European Journal of International Management, and co-chairs the M&A track at the European Academy of Management annual conference since 2008. Prior to an academic career, Dr Teerikangas worked for Shell in the Netherlands and the UK. She is on the editorial review board of the International Journal of Cross-Cultural Management.

    Richard J. Joseph is Vice President for Academic Affairs at Hult International Business School, Boston, London, Dubai, Shanghai, and San Francisco. Previously he served on the faculty and administration of the McCombs School of Business at the University of Texas at Austin. Prior to his academic career, he worked as an investment banker at Lehman Brothers, a securities trader at Bear Stearns, an international banker at Citibank, and a mergers and acquisitions lawyer for the Bass Group, Fort Worth. A graduate magna cum laude of Harvard College (B.A.), Oxford University (M.Litt.), and the University of Texas at Austin School of Law (J.D.), he is co-editor of Prentice Hall's Federal Taxation Series and has written numerous commentaries in the Financial Times, Christian Science Monitor, and Tax Notes International. His book, The Origins of the American Income Tax (Syracuse University Press), explores the original intent, rationale, and effect of the early American income tax.

     

    Contributors: 
    Professor Duncan Angwin, Professor of Strategy, Oxford Brookes University, ENPC, Paris and Associate Fellow, Warwick Business School 
    Maria Carapeto, Senior Lecturer in Finance and Deputy Director of the M&A Research Centre, Cass Business School, City University London 
    Professor Susan Cartwright, Professor of Organizational Psychology and Well-Being, Lancaster University, and Director of the Centre for Organizational Health and Well Being 
    Professor John Child, Emeritus Professor, Birmingham Business School and Visiting Professor at the University of Hong Kong 
    Professor Viktoria Dalko, Global Professor of Finance, Hult International Business School 
    Professor Rolf van Dick, Professor of Social Psychology, the Department of Psychology, Goethe University, Frankfurt, Germany 
    Professor Gary Dymski, Professor of Economics, the University of California, Riverside 
    Dr Samantha Fairclough, the Deloitte & Touche Post-Doctoral Research Fellow in the Department of Strategic Management and Organization, the School of Business, the University of Alberta, and Associate Post-Doctoral Fellow in the Novak Druce Centre for Professional Service Firms, Saïd Business School, the University of Oxford L Nicholas Fairclough, doctoral candidate, the Department of Strategic Management and Organization, the University of Alberta 
    Dr Steffen R. Giessner, Associate Professor, the Rotterdam School of Management, Erasmus University 
    Dr Jerayr Haleblian, Associate Professor of Management, University of California-Riverside 
    Elina Happonen, Analyst at Nordea Finland 
    School of Professor Michael Hitt, Distinguished Professor of Management, Texas A&M University and the Joe B. Foster Chair in Business Leadership 
    Dr Sajjad M. Jasimuddin, Lecturer, the School of Management and Business, Aberystwyth University, Associate Professor, the University of Dhaka (Bangladesh), and Visiting Professor, Dalian University of Foreign Languages (China) 
    Professor Prashant Kale, Professor of Strategic Management, the Jones School of Management, Rice University 
    Professor Thomas Keil, Professor of Strategic Management, Aalto University, Finland 
    Dr Adelaide Wilcox King, Associate Professor, the McIntire School of Commerce, the University of Virginia 
    Dr David R. King, Associate Professor, the College of Business Administration, Marquette University 
    Kalin Kolev, doctoral student in strategic management, Michigan State University 
    Professor Hema Krishnan, Associate Dean and Professor of Management and Entrepreneurship, Xavier University, Cincinnati 
    Professor Tomi Laamanen, Professor of Strategic Management, University of St Gallen, Switzerland 
    Aino Mäkisalo, Analyst at Roschier 
    Dr Marianna Makri, Associate Professor, the School of Business Administration, the University of Miami 
    Professor Gerry McNamara, Professor of Management at Michigan State University 
    Professor Brendan McSweeney, Professor of Management, Royal Holloway University, London and Visiting Professor, Stockholm Business School, University of Stockholm 
    Professor Scott Moeller, Director and Founder of the M&A Research Centre and Professor in the Practice of Finance, Cass Business School 
    Professor Vassilis M. Papadakis, Professor and Chairman of the Department of Business Administration, the Athens University of Economics and Business (AUEB), Greece 
    Dr Robert Pitkethly, Fellow and Tutor in Management, St. Peter's College, Oxford 
    Professor Annette L. Ranft, the Jim Moran Professor of Management, Florida State University 
    Professor Bill Ryan, Professor of Accounting, Hult International Business School, London 
    Dr Mario Schijven, Assistant Professor of Management, Mays Business School, Texas A&M University 
    Professor Lars Schweizer, the UBS-Endowed Professor for Management, Goethe University Frankfurt, and Associate Dean of Goethe Business School 
    Jennifer C. Sexton, Doctoral Candidate, Florida State University 
    Professor Katsuhiko (Katsu) Shimizu, Professor of Organization Theory and Strategic Management, Graduate School of Business Administration, Keio University, Japan 
    Professor Harbir Singh, the William and Phyllis Mack Professor of Management and former Chair of the Management Department, the Wharton School of Business Professor Sudi Sudarsanam, Emeritus Professor of Finance and Corporate Control, Cranfield School of Management 
    Ioannis C. Thanos, PhD, the Athens University of Economics and Business (AUEB), Greece 
    Professor Janne Tienari, Professor of Organizations and Management, Aalto University, School of Economics, Finland 
    Dr Johannes Ullrich, Privat dozent in the Department of Psychology, Goethe University, Frankfurt, Germany 
    Professor Eero Vaara, Professor of Management and Organization, Hanken School of Economics, Helsinki, Finland, and permanent Visiting Professor at EM Lyon Business School, France 
    Professor Philippe Very, Professor of Strategic Management, EDHEC Business School, France 
    Dr Hong Zhu, Assistant Professor, Department of Management, the Chinese University of Hong Kong 

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