Mergers and Acquisitions: Time for a Rejuvenation of the Field?

Abstract

Mergers and acquisitions (henceforth M&As) have been studied from different disciplines from the ‘60s to date. Findings from these different areas, however, lack theoretical integration and scholars often express dissatisfaction with the fragmented findings. This note will address some of these concerns bringing scholars’ attention to methodological issues in studying M&As. The notion underlying this research note is that in order to further the M&A field it is not only a matter of finding new substantive issues to investigate and to develop integrative frameworks. Rather it is a matter of how we, as M&A scholars, study M&As, that is, a question of methodology. Our discussion focuses on the limitations of cross sectional research designs and on the need for longitudinal real time research designs as well for participant observation as an alternative method. While our primary focus is on methodology, we will also suggest some substantive topics where the knowledge and understanding can be furthered through a different empirical approach.

Keywords: mergers and acquisitions, processual research, ethnography, observation, methodology

JEL Classification: G34