Journal title FINANCIAL REPORTING
Author/s Elisa Roncagliolo, Francesco Avallone
Publishing Year 2021 Issue 2021/1 Language English
Pages 29 P. 89-117 File size 199 KB
DOI is like a bar code for intellectual property: to have more infomation click here
Below, you can see the article first page
If you want to buy this article in PDF format, you can do it, following the instructions to buy download credits
FrancoAngeli is member of Publishers International Linking Association, Inc (PILA), a not-for-profit association which run the CrossRef service enabling links to and from online scholarly content.
M&A are complex corporate events involving two or more companies and often requiring relevant efforts in order to be successful. For these reasons, both scholars and practitioners are interested in assessing the success rate of M&A and measuring their influence on the corporate performance. Despite the complexity of the M&A phenomenon, previous studies that empirically examine this issue according to an accounting-based perspective, largely adopt single performance measures. Therefore, our study aims to explore whether the use of a multi-dimensional approach in the development of accounting-based performance measures could provide a comprehensive examination of the change in corporate performance due to complex events, such as M&A. In particular, this study assesses the performance of M&A concluded in the European context through the development of multiple accounting-based performance indicators that examine: (i) profitability, (ii) growth, and (iii) financial situation. In addition, we analyse a crucial performance dimension, the cost of employment, which has received limited attention from previous empirical research. Consistently with the multifaceted nature of M&A, results indicate that they provide a mixed impact on different performance measures. Therefore, main findings suggest that the measurement of M&A performance should take into consideration different contextual features
Keywords: M&A complexity; merger and acquisitions; M&A performance; multidimensional approach.
Jel codes: G34, M41
Elisa Roncagliolo, Francesco Avallone, The complexity in measuring M&A performance: Is a multi-dimensional approach enough? in "FINANCIAL REPORTING" 1/2021, pp 89-117, DOI: 10.3280/FR2021-001004