The Notion of Performance in Merger and Acquisition Research

Abstract

A significant share, if not the majority, of MA a tendency that is strengthened once measurement of performance is considered. This chapter delves into the development of the performance concept by sketching the measures commonly applied in M&A research. It discusses the most common performance measures in M&A research, pointing to underlying assumptions, strengths, and limitations. Rather than pursuing an ambition to find a single ‘best’ measure, the chapter suggests the use of performance measures can increase in clarity, thus strengthening the use of M&A performance as an umbrella construct.