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Merge Ahead: A Research Agenda to Increase Merger and Acquisition Success

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Abstract

Scholars have been conducting serious research on the human, organizational, and cultural aspects of mergers and acquisitions (M&A) for 30 years. Yet, over this period, there have only been modest improvements in the M&A success rate. In this article, we examine corporate combinations, describe how human factors contribute to their failure or success, and identify key research questions whose answers can help to improve the M&A success rate in both financial and human terms. We propose research questions for the key phases of a deal, including buying a company and putting companies together. And, reflecting an emerging trend among some frequent acquirers to build an internal competence in M&A execution, we also propose research questions for how to accelerate the process of learning from past combinations to better manage future ones.

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Notes

  1. While the terms “merger” and “acquisition” tend to be used interchangeably by both practitioners and scholars, here merger is intended to mean the integration of two relatively equal entities into a new organization and acquisition is intended to mean the takeover of a target organization by a lead entity. The word “combination” is used here in reference to either a merger or an acquisition.

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Authors and Affiliations

  1. Department of Management, San Francisco State University, 1600 Holloway Avenue, San Francisco, CA, 94132, USA

    Mitchell Lee Marks

  2. Center for Corporate Citizenship, Boston College, Chestnut Hill, MA, USA

    Philip H. Mirvis

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  1. Mitchell Lee Marks
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  2. Philip H. Mirvis
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Correspondence to Mitchell Lee Marks.

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Marks, M.L., Mirvis, P.H. Merge Ahead: A Research Agenda to Increase Merger and Acquisition Success. J Bus Psychol 26, 161–168 (2011). https://doi.org/10.1007/s10869-011-9219-4

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