Run or hide: changes in acquisition behaviour during the COVID-19 pandemic
Journal of Strategy and Management
; 2021.
Article
in English
| Scopus | ID: covidwho-1297459
ABSTRACT
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.
Full text:
Available
Collection:
Databases of international organizations
Database:
Scopus
Language:
English
Journal:
Journal of Strategy and Management
Year:
2021
Document Type:
Article
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