Mergers and Acquisitions - The Standing of Theory in the Quest for Better Institutions and Policy

CASE Network Studies and Analyses No. 401/2010

26 Pages Posted: 20 Apr 2010

See all articles by Camilla Jensen

Camilla Jensen

Copenhagen Business School - Department of International Economics and Management

Date Written: April 1, 2010

Abstract

The paper shows that the standing of theory in the field of mergers and acquisitions is weak for at least three reasons. Research is best described as a battlefield of ad hoc theory testing leaving behind a fragmented field. Research has focused traditionally on high intensity markets under the Anglo-Saxon variant of capitalism. Empirical evaluation is prone to be inexact and suffers among other from significant aggregation problems between the micro (firm performance) and macro level (economic growth). The deficiencies in the standing of theory will be reflected in weak institutions to handle the political processes concerning value, liquidity, efficiency and fairness aspects that affect the market for corporate assets within and across different variants of capitalism.

Keywords: Economic Growth, Institutions, Mergers and Acquisitions, the Resource Based View, Variants of Capitalism

JEL Classification: F23, G34, L25, N85, O12, O43

Suggested Citation

Jensen, Camilla, Mergers and Acquisitions - The Standing of Theory in the Quest for Better Institutions and Policy (April 1, 2010). CASE Network Studies and Analyses No. 401/2010. Available at SSRN: https://ssrn.com/abstract=1592926 or http://dx.doi.org/10.2139/ssrn.1592926

Camilla Jensen (Contact Author)

Copenhagen Business School - Department of International Economics and Management ( email )

Porcelænshaven 24A, 3rd floor
Copenhagen
Denmark

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