Use this URL to cite or link to this record in EThOS: http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.658697
Title: The influence of acquisition experience and post-acquisition strategies on the performance of emerging market acquirers : empirical evidence from Turkey
Author: Evran, Mehmet
ISNI:       0000 0004 5355 3805
Awarding Body: Queen Mary, University of London
Current Institution: Queen Mary, University of London
Date of Award: 2014
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Abstract:
In the last decade, the number of mergers and acquisitions (M&A) activities by emerging market firms has rapidly increased to exploit growing markets at home and abroad. In order to be successful in their M&A goals, these firms need to develop a specific M&A capability and manage post-M&A processes effectively. Drawing on the dynamic capabilities view, I develop a theoretical framework for emerging market acquirers that outlines the development of the acquisition capability mechanisms. I first examine the influence of prior acquisition experience on acquisition performance. I then go on to study the integration capability of emerging market firms and examine the effect of post-M&A integration strategies on the performance of acquisitions by emerging market firms. The overall results indicate that a firm‘s focal acquisition performance positively relates to prior acquisition experience that is similar to the focal acquisition. Moreover, post-M&A integration strategies vary depending on the geographical similarity of the focal acquisition. Replacing the target‘s top manager is a particularly important determinant of acquisition performance in domestic M&A. Finally, in this research, I also extend the organisational learning view and develop a multi-level analysis that examines the role of business groups alongside firm-level learning from acquisitions. The usual focus in emerging market studies is on the big emerging economies of Brazil, Russia, India and China (BRIC). I focus instead on the country case of Turkey, one of the second tier of ―biggish‖ growing economies of ―MIST‖ (Mexico, Indonesia, South Korea and Turkey). The empirical results are based on a unique hand-collected dataset of acquisitions in Turkey culled from publicly available data. The final dataset consists of 279 acquisitions between 1998 and 2011.
Supervisor: Not available Sponsor: Not available
Qualification Name: Thesis (Ph.D.) Qualification Level: Doctoral
EThOS ID: uk.bl.ethos.658697  DOI: Not available
Keywords: mergers and acquisitions ; Turkey ; acquisition performance. ; acquisition experience ; post-M&A integration strategies ; organisational learning view
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