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Measuring Performance of Acquisitions: From Shareholder Value to Shared Value to Acquisition Outcomes

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Strategic Decisions and Sustainability Choices

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Abstract

In this chapter we critically analyze a central construct in M&A research: acquisition performance. Acquisition performance has received considerable attention from scholars who have repeatedly attempted to gauge the effectiveness of acquisition strategies. The majority of empirical articles measure acquisition performance as the market reaction to the deal announcement, emphasizing the primacy of shareholders over all stakeholders. We provide a critical analysis of current research and suggest how a stakeholder perspective may help us to better understand drivers of financial performance. We additionally reflect on how to measure the multitude of outcomes acquisitions bring about that reflect the variety of stakes.

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  1. University of Sannio, Benevento, Italy

    Olimpia Meglio

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  1. Olimpia Meglio
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Correspondence to Olimpia Meglio .

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Meglio, O. (2019). Measuring Performance of Acquisitions: From Shareholder Value to Shared Value to Acquisition Outcomes. In: Strategic Decisions and Sustainability Choices. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-05478-6_4

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