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Cross‐border mergers and acquisitions (M&As) are one way in which EC companies are meeting the challenge posed by the competitive threats of the Single European Market. Research in mergers has tended to look at the theoretical and statistical aspects of merger strategies. There is a lack of empirical data on the actual reasons that the companies have for their actions. The present study reports the results of the first empirical investigation into how UK manufacturing firms view their merger strategies. A sample representing 70 per cent (34 companies) of all M&A activity in UK manufacturing companies in 1991 responded to a questionnaire on their respective M&As. The data presented include their reasons and expectations, perceived barriers to Continental M&As, the alternative uses of capital considered and differences between small and large companies (< >£500 million T/O). Also presents M&A preparation times, the significant correlation between merger size and time may be useful in planning future M&As. Finally, discusses the comparison of these companies′ strategies with merger theory, e.g. as regarding synergies, whether these strategies are appropriate long‐term strategies compared with alternatives or are a response to short‐term pressures for growth.

Nowadays, many weak brands have acquired strong international brands to accelerate their internationalization. However, “the weakers acquire the strongers” model of M&A leads to many consumers’ loss. The purpose of this paper is to explore the relationships between the brand strategy after the M&A, brand authenticity and consumer purchase intention through two experiments.

Building on an extensive literature review, the authors identify four hypotheses. Hypotheses were tested on data collected across 190 Chinese consumers.

The results show that the decline of consumer purchase intention was mainly caused by the falling consumer assesses on brand authenticity; the different post-merger brand strategies have significant difference on brand authenticity and consumer purchase intention, and self-brand connection played a moderate role between brand authenticity and consumer purchase intention.

The research reveals the reasons for consumer loss after mergers and acquisitions and provides empirical insights into how post-merger brand strategies can be manifested to convey brand authenticity as well as to build consumers’ purchase intention. In addition, the findings confirm the role of self-brand connection.

This study Investigates Shareholders' value adjustment in response to financial institutions (FIs) merger announcements in the immediate event window and in the extended event window. This study also investigates accounting measures performance, comparison of post-merger to pre-merger, including several cash flow measures and not just profitability measures, as the empirical literature review suggests. Finally, the authors examine FIs mergers orientations of diversification and focus create more value for shareholders (in the immediate announcement window and several months afterward) and/or generates better cash flows, profitability and less credit risk.

This study examines FIs merger effect on bidders’ shareholder’s value and on their observed performance. This examination deploys three techniques simultaneously: a) an event study analysis, to estimate and calculate abnormal returns (ARs) and cumulative abnormal returns (CARs) in the narrow windows of the merger announcement, b) buy and hold event study analysis, to estimate ARs in the wider window of the event, +50 to +230 days after the merger announcement and c) an observed performance analysis, of financial and capital efficiency measures before and after the merger announcement; return on equity, liquidity, cost to income ratio, capital to total assets ratio, net loans to total loans, credit risk, loans to deposits ratio, other expenses and total assets, economic value addition, weighted average cost of capital and return on invested capital. Deal criteria of value, mega-deals, strategic orientation (as in Ansoff (1980) growth strategies), acquiring bank size and payment method are set as individually as control variables.

Results show that FIs mergers destroy share value for the bidding firms pursuing a market penetration strategy. Market development and product development strategies enable shareholders’ value creation in short and long horizons. Diversification strategies do not influence bidding shareholders’ value. Local bank to bank mergers create shareholders’ value and enhance liquidity and economic value in the short run. Bank to bank cross border mergers create value for bidders’ in the long term but are associated with high costs and higher risks.

A significant advancement over the current literature is in assessing mergers, not only for bank bidders but also for the three pillars FIs of the financial sector; banks, real-estate companies and investment companies mergers. It is an improvement over current finance literature because it deploys two different strategies in the analysis. At a univariate level, shareholder value creation and market reaction to merger announcements are examined over short (−5 or +5 days) and long (+230 days) windows of the event. Followed by regressing, the resultant CARs and BHARs over financial performance variables at the multivariate level.

The purpose of the study is to investigate the role of the strategy tripod premises, mediated by future foresight and its effect on merger effectiveness in the higher education industry.

A quantitative survey method was implemented, with the data provided by senior managers of 14 universities that went through a merger from the years 2013–2016. The proposed model was tested using partial least squares (PLS) of structural equation modeling (SEM).

The results indicate that government support, competitive intensity and knowledge creation capability relate positivity to merger effectiveness, and these relationships are mediated by future foresight competence.

The study provides a better understanding of merger effectiveness in the higher education industry by identifying the role of future foresight competence in the application of strategy tripod and its contribution on merger effectiveness. Results indicate that future foresight competence contributes to the merger effectiveness and enables the effective implementation of the strategy tripod dimensions in higher education mergers.

A number of factors ranging from economic conditions to managerial self‐interest have contributed to today's unprecedented merger boom. But the tide may be turning as the public policy debate over mergers heats up. Most scenarios show a long‐range drop in merger activity. However, the need for an informed, rational national policy on mergers remains.

This chapter examines a case study of inter-institutional merger in higher education, and explores the complex challenges institutional leaders may face in pursuing a merger process within a university setting where centuries-old tradition frames the context within which new innovations occur. Using the conceptual lens of organizational ambidexterity, findings uncover seven distinct phases of this merger process and propose a pre-merger Affiliation period as a strategy for establishing trust and mutual respect, aligning institutional cultures, and achieving balance between innovation and preservation in order to achieve full merged status. The chapter concludes with implications for theory and opportunities for practice.

Acquiring a European company or, indeed, merging with one, are strategies that are gaining favour with many organisations both within and without the EC. The strategic implications of such moves are examined and some methods of limiting the risks involved are suggested.

A review of extant literatures shows that most mergers fail during the integration process. Little is known about how the realization of operating synergies and dissemination of available know-how in the merged firm are managed in the post-merger phase. The purpose of this paper is to provide insights on the process of integrating operating synergies by focusing on the critical success factors that facilitate integration of the skills of merged banks.

The authors draw on three research traditions in merger literature and reconcile them with three dimensions of integration. In-depth interviews were conducted with Nordea managers from four Nordic countries.

Having learned from the mistakes of previous mergers, Nordea’s “guiding star” for managing its post-merger integration process was expressed as focus, speed and performance from top management. A hands-on leadership style, vision-led thinking, a bias for action, involvement of the entire staff, continuous focus on customers, open and honest communication with employees are critical to success.

The motive for a merger has an important impact on the degree of interaction and degree of integration. The authors expand on previous findings by, among other things, synthesizing three theoretical lenses into an integrative model, and addresses post-merger issues with a sharp eye towards clear managerial relevance.

The authors respond to the call to expand inter-firm relationships study beyond the narrow dyadic relationship focus and not solely conceptualize mergers as one of companies’ entry modes to implement mechanistic growth strategy. The three dimensions of integration imbued with three research traditions in merger literature provides us with a conceptual lens to conceive mergers also as engines for change emerging from the merged firms to enhance a bespoke performance of their business process.

The purpose of this paper is to provide a historical account of four unsuccessful merger attempts between Australia’s two major professional accounting bodies over a 30-year period (1969 to 1998), each of which ultimately failed. An analysis of the commonalities and differences across the four attempts is provided and social identity theory is used to explain the differences between members level of support for these merger bids.

This study adopts a qualitative approach using a historical research methodology to source surviving business records from public archives and other data gathered from oral history interviews.

The study found that, across all four merger attempts between Australia’s two professional accounting bodies, there was strong support from society members (the perceived lower-status group) and opposition exhibited by institute members (the perceived higher-status group). This study also found that the perceived higher-status organisation always initiated merger discussions, while its members rejected the proposals in the members’ vote.

This paper focusses on the Australian accounting profession, considering a historical account of merger attempts. Further research is required that includes interviews and surveys of those involved in making decisions regarding merger attempts.

This paper is the first to examine in detail these four unsuccessful merger attempts between the largest accounting organisations in Australia.