Chapter

Unbundling Acquisition Performance: How do they perform and how can this be measured?

Ioannis C. Thanos and Vassilis M. Papadakis

in The Handbook of Mergers and Acquisitions

Published in print June 2012 | ISBN: 9780199601462
Published online September 2012 | e-ISBN: 9780191743320 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780199601462.003.0005
Unbundling Acquisition Performance: How do they perform and how can this be measured?

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The aim of this chapter is to review and critique the literature on mergers and acquisitions (M&As) performance. To do so, the chapter conducts a thorough search in the top 13 US and European management journals and draws on recent reviews from related areas. Results suggest that management scholars have followed seven distinct approaches in measuring M&A performance, with short-term event window studies being the most widely used approach. Also, on average and irrespective of the approach used, studies have shown that acquisitions fail to deliver value for the acquiring firm. The chapter also discusses the strengths and limitations of each of these approaches to measuring M&A performance and concludes with a list of substantive future research priorities.

Keywords: M&A performance; management journals; value; acquiring firms

Chapter.  12309 words.  Illustrated.

Subjects: Financial Institutions and Services

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