Corporate mergers, announcement returns and postmerger financial performance: a literature review in the Indian context

Abstract

The rise of corporate mergers and acquisitions in emerging market countries has received the growing interest of several researchers from diverse fields in business management. In this paper, we review from the past to recent published papers in mergers and acquisitions research in the Indian context, particularly since the economic policy reforms initiated in 1991. Literature review' insights from more than 70 research articles in the Indian setting was well summarised - announcement returns around the domestic mergers and acquisitions; post-merger financial performance; banking and financial sector mergers; and comparative studies with reference to local vs. international mergers in and to the Indian context. Finally, we recommend some potential areas and knowledge gaps in local and international mergers and acquisitions for future research in the Indian business scenario.