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- Anderson, Helén, 1954-, et al.
(författare)
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The stake of customers and suppliers in mergers and acquisition
- 2016
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Konferensbidrag (refereegranskat)abstract
- No business day ends without news on a merger or an acquisition and most managers have experience of acquisitions and/or mergers. Mergers and acquisitions (M&A), that is, the acquisition of (the majority of) the shares in a target company or the legal unification of two organizations into one, are recurrent phenomena in business life (Cartwright and Schoenberg, 2006; Meglio and Risberg, 2010) appearing in waves (Martynova and Renneboog 2008; Shleifer and Vishny 1991). M&A not only result in changed shareholder value, but also in changed industry structures, reconsidered competitive landscapes, and form new key players in markets (Chandler, 1962; Cox, 2006; Finkelstein, 1997).Stakeholder research (e.g., Parmar, Freeman, Harrison, Wicks, Prnell and de Colle, 2010; Rowley, 1997) emphasizes the multi-actor, multi-interest perspective to strategic decisions. A value chain perspective on firms suggests customers and suppliers as important stakeholders of firms (e. g., Normann and Ramirez, 1993) and indicates that customers and suppliers may actually act vis-à-vis an M&A. But the picture of customers and suppliers as tradable assets or potential beneficiaries from the acquirer’s point of view seems to dominate. In this paper we particularly address the stake at stake for customers and suppliers in M&A. The following questions are asked: To what extent are customers and suppliers acknowledged in the M&A literature? How are customer and supplier stakes in M&A described?
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- Anderson, Helén, et al.
(författare)
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The Stake of Customers and Suppliers in Mergers and Acquisitions
- 2016
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Ingår i: SMS 36th Annual Conference.
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Konferensbidrag (refereegranskat)abstract
- For a firm, customers and suppliers are important stakeholders in their business activities, including such strategic activities as mergers and acquisitions. But how has this been depicted in previous research? In this paper we review articles on mergers and acquisitions to find out in what way customers and suppliers are recognized in the research on mergers and acquisitions. The paper is a review of 1,632 articles. The analysis proposes six categories: customers and suppliers in vertical integration; customers as an aggregated market; customers and suppliers as resources; customers (and suppliers) being affected by changed market conditions; the merger or acquisition following from or leading to power imbalances in relationships to customers/suppliers; and customers and suppliers as actors or reactors.
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- Dahlin, Peter, 1981-, et al.
(författare)
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Including Customers and Suppliers in the Understanding of Mergers and Acquisitions
- 2015
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Konferensbidrag (refereegranskat)abstract
- Mergers and acquisitions (M&A) is a common foreign market entry mode. The M&A-literature is multi-disciplinary and the understanding of M&As is the result of many different perspectives, e.g. economics, finance, strategy and organizational management. Both internationalization and M&A are closely related to growth, and share many challenges.The Uppsala-model of internationalization showed how the business network is a key factor in the choices and process during internationalization. With M&As being important to internationalization, the M&A research should have a similar view of companies and markets. In this paper, we review articles on M&As to find out in what way customers and suppliers are recognized. To what extent are customers and suppliers included in the M&A literature? And how are their roles and stakes in M&As described?Based on an analysis of 1,632 articles, the study builds a categorization of six ways of including customers and suppliers in M&A literature. It is shown that customers and suppliers, when included in M&A literature, are predominantly treated as passive and reactive stakeholders. There seems to be a need for a clearer theoretical framework of the role customers and suppliers can have in M&As.
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