A Marketing Perspective on Mergers and Acquisitions : How Marketing Integration Affects Postmerger Performance

Homburg, Christian ; Bucerius, Matthias

W080_A Marketing Perspective.pdf - Published

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URL: https://ub-madoc.bib.uni-mannheim.de/42495
URN: urn:nbn:de:bsz:180-madoc-424954
Document Type: Working paper
Year of publication: 2004
The title of a journal, publication series: Reihe: Wissenschaftliche Arbeitspapiere / Institut für Marktorientierte Unternehmensführung
Volume: W080
Place of publication: Mannheim
Publishing house: Inst. für Marktorientierte Unternehmensführung, Univ. Mannheim
Publication language: English
Institution: Business School > ABWL u. Marketing I (Homburg)
Subject: 330 Economics
Abstract: Previous research on mergers and acquisitions (M&A) has neglected marketing issues by and large. This paper examines the effects of post merger integration (PMI) in marketing (ex tent and speed of marketing integration) on M&A performance mediated by integration outcomes (magnitude of cost savings and market-related performance). Results from a survey of 232 horizontal mergers and acquisitions show that market-related performance after the merger or acquisition has a much stronger impact on the financial performance after a merger or acquisition than cost savings. Also, extent of integration is found to be beneficial in terms of cost savings, but detrimental in terms of market-related performance. Finally, the study identifies a number of variables that moderate the relationships under consideration.

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