Abstract
Scholars have been conducting serious research on the human, organizational, and cultural aspects of mergers and acquisitions (M&A) for 30 years. Yet, over this period, there have only been modest improvements in the M&A success rate. In this article, we examine corporate combinations, describe how human factors contribute to their failure or success, and identify key research questions whose answers can help to improve the M&A success rate in both financial and human terms. We propose research questions for the key phases of a deal, including buying a company and putting companies together. And, reflecting an emerging trend among some frequent acquirers to build an internal competence in M&A execution, we also propose research questions for how to accelerate the process of learning from past combinations to better manage future ones.
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