The Handbook of Mergers and Acquisitions

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Since the late nineteenth century, mergers and acquisitions (M&A) have become a key strategic option for organizations aiming to strengthen their competitive position in a global market. However, research indicates that most firms involved in M&A do not meet their performance expectations, either immediately or in subsequent years. This raises questions about the motivations behind M&A activity despite disappointing results. Are existing performance measurement methods flawed, or is the complexity of M&A beyond current understanding? The handbook advocates for a reevaluation of past research and fundamental assumptions in the field. A significant barrier to progress has been the separation between the disciplines of strategy, finance, and human relations. To address this, the handbook seeks to integrate these fields, offering insights from both established and emerging scholars and practitioners. It presents a comprehensive overview of M&A through four distinct perspectives: strategic, financial, socio-cultural, and sectoral. By summarizing current research findings and exploring potential syntheses of these approaches, the handbook aims to illuminate the critical challenges facing M&A professionals and academics as they navigate the complexities of the twenty-first century.