The authors extend the existing research on acquisition programs by identifying four types of acquisition programs that we call: cautious approach, political approach, investment-intensive approach, and hybrid approach. The authors also provide a finer-grained distinction between various characteristics of these acquisition programs. Furthermore, when examining the performance of different types of acquisition programs, the authors found that an acquisition program has to be designed in a way that not only fits to the current environmental conditions in the host country, but also takes into account an acquirer’s acquisition capabilities and resources.
Vuori, N. and Laamanen, T. (2020), "Geographic Roll-Up Acquisition Programs and Their Performance Implication", Finkelstein, S. and Cooper, C.L. (Ed.) Advances in Mergers and Acquisitions (Advances in Mergers & Acquisitions, Vol. 19), Emerald Publishing Limited, Bingley, pp. 17-32. https://doi.org/10.1108/S1479-361X20200000019003
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