Measuring the impact of experience on the relation between distance and M&A performance

• Autor(a) principal: Ramos, Ana Raquel Lino
• Data de Publicação: 2017
• Tipo de documento: Dissertação
• Idioma: eng
• Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
• Texto Completo: http://hdl.handle.net/10362/22441
• topic: M&A performance; CAGE distance framework; Experience advantage; Domínio/Área Científica::Ciências Sociais::Economia e Gestão

Taking the literature on the effects of experience on M&A performance, I draw a model with the intent of examining the impact of experience on the relation between distance and M&A performance outcome. In addition, I theorize that the negative effect of distance on acquisition performance is positively moderated by prior M&A experience. Using a sample of 156 M&As in a time period of 7 years, it was not possible to achieve significant results to demonstrate the theorized main hypotheses. Nonetheless, findings suggest that prior acquisition experience helps reduce the effect of cultural and economic distance on M&A performance. Title: Measuring the impact of experience on the relation between distance and M&A performance.