Selected article for: "approach method design study and design method"

Author: Bauer, F.; Friesl, M.; Dao, M. A.
Title: Run or hide: changes in acquisition behaviour during the COVID-19 pandemic
  • Cord-id: dul8lrxv
  • Document date: 2021_1_1
  • ID: dul8lrxv
    Snippet: Purpose: Mergers and acquisitions (M&As) are an important strategic tool for continuous adaptation, sustainable corporate development and external growth. At the same time, M&As involve high levels of risk with mixed performance results even under normal circumstances. Even though the M&A market was continuously growing for the last decade, it was abruptly ended by the coronavirus 2019 (COVID-19) pandemic as executives were more concerned about liquidity than with long-term growth strategies. Th
    Document: Purpose: Mergers and acquisitions (M&As) are an important strategic tool for continuous adaptation, sustainable corporate development and external growth. At the same time, M&As involve high levels of risk with mixed performance results even under normal circumstances. Even though the M&A market was continuously growing for the last decade, it was abruptly ended by the coronavirus 2019 (COVID-19) pandemic as executives were more concerned about liquidity than with long-term growth strategies. This raises the question how M&A behaviour is affected by the economic fall-out of the COVID-19 pandemic. Design/methodology/approach: The mixed method research design was employed in this study. Findings: The authors particularly investigate how target selection as well as synergy management are affected by the pandemic. The study analysis reveals four archetypical responses to the COVID-19 crisis. The authors describe those responses in detail and analyse antecedents that seem to influence firms' acquisition behaviour during the pandemic. Originality/value: The paper draws on survey and interview data of M&A practitioners. © 2021, Emerald Publishing Limited.

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