We analyze two firms’ choice between merging, allying, and trading assets. We consider a setting in which firms have assets, skills, and core capabilities; skills are the component of organizational capital that increases in the course of joint operations, core capabilities the component that...

The intense concentration process taking place in the financial systems has attracted substantial attention from stakeholders and academics. The impact of M&A on the value creation and efficiency/effectiveness improvements of banks involved appears, on the whole, disappointing and it is still...

Knowledge-intensive acquisitions enable companies to acquire external knowledge and to avoid tedious internal capability development processes. Therefore, knowledge-intensive acquisitions can be profound sources of value creation, as long as the transfer of the acquired knowledge is effectively...

The present paper presents a case study of a merger between Israeli and British high-tech companies and illustrates the effect that the choice of post-merger integration approach has on the success or failure of a cross-border merger and acquisition. The study extends existing knowledge of...

Using financial, accounting and questionnaire response data we investigate the post-acquisition performance of 47 US bank holding companies that executed 579 mergers and acquisitions in the 1964-1996 period and compare it with their competitors' performance. The objectives of the study are to...

This paper presents a study on the success and failure factors that influence the mergers and acquisitions (M&A) performance. In the initial part major theoretical studies, developed in the field of strategic management, corporate finance, organisational studies, and human resources are...

Statistically more than 50% of all mergers do not achieve synergies. In majority of cases the reason is the failure in post-merger integration (PMI). This paper develops further how the Sun Cube framework can be used in capturing synergies during PMI. The SUN Cube is a new stakeholder management...