The influence of a CSR spread on acquisition outcomes from a customer perspective
Autor(a) principal: | |
---|---|
Data de Publicação: | 2022 |
Tipo de documento: | Dissertação |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10400.14/40617 |
Resumo: | This study investigates the extent to which a spread in corporate social responsibility (CSR) between two acquisition partners can influence the outcome of CSR-motivated mergers and acquisitions (M&As). In line with the assumptions of stakeholder theory and signalling theory, we aimed to investigate whether all kinds of CSR investments result in favourable outcomes. To do so, we decided to focus on the outcomes for an acquisition’s target with a high CSR performance. Customer-based corporate reputation was chosen as the main variable of analysis, as improved corporate reputation is one major potential outcome of CSR engagement. We chose a causal research method to investigate our research objective. We further tested for the moderating effects of familiarity, own CSR support and cultural background. Our findings demonstrated that acquisitions could result in negative customer reactions when the target has a high CSR score, and the acquirer performs poorly in terms of CSR. When the acquisition partners showed congruent CSR engagement, customer’s evaluations of the target improved slightly. We did not detect moderating effects for CSR support and cultural background. Familiarity, however, seemed to have some impact on the outcomes of our analysis. These findings suggest that managers need to include the cultural fit, and specifically the CSR performance of both companies, in the due diligence process before an acquisition. |
id |
RCAP_abda7c53accf73ceedde873bf135c8de |
---|---|
oai_identifier_str |
oai:repositorio.ucp.pt:10400.14/40617 |
network_acronym_str |
RCAP |
network_name_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository_id_str |
7160 |
spelling |
The influence of a CSR spread on acquisition outcomes from a customer perspectiveMergers and acquisitionsCorporate social responsibilityCustomer-based corporate reputationStakeholder theoryCultural fitDomínio/Área Científica::Ciências Sociais::Economia e GestãoThis study investigates the extent to which a spread in corporate social responsibility (CSR) between two acquisition partners can influence the outcome of CSR-motivated mergers and acquisitions (M&As). In line with the assumptions of stakeholder theory and signalling theory, we aimed to investigate whether all kinds of CSR investments result in favourable outcomes. To do so, we decided to focus on the outcomes for an acquisition’s target with a high CSR performance. Customer-based corporate reputation was chosen as the main variable of analysis, as improved corporate reputation is one major potential outcome of CSR engagement. We chose a causal research method to investigate our research objective. We further tested for the moderating effects of familiarity, own CSR support and cultural background. Our findings demonstrated that acquisitions could result in negative customer reactions when the target has a high CSR score, and the acquirer performs poorly in terms of CSR. When the acquisition partners showed congruent CSR engagement, customer’s evaluations of the target improved slightly. We did not detect moderating effects for CSR support and cultural background. Familiarity, however, seemed to have some impact on the outcomes of our analysis. These findings suggest that managers need to include the cultural fit, and specifically the CSR performance of both companies, in the due diligence process before an acquisition.Este estudo investiga até que ponto uma dispersão na responsabilidade social corporativa (RSC) entre dois parceiros de aquisição pode influenciar o resultado de fusões e aquisições motivadas pela RSC (M&A). De acordo com as suposições da teoria das partes interessadas e da teoria da sinalização, nosso objetivo é investigar se todos os tipos de investimentos em RSC resultam em resultados favoráveis. Para isso, decidimos nos concentrar nos resultados para uma meta de aquisição com um alto desempenho em RSC. iii A reputação corporativa baseada no cliente foi escolhida como a principal variável de análise, uma vez que a melhoria da reputação corporativa é um dos principais resultados potenciais do engajamento em RSE. Escolhemos um método de pesquisa causal para investigar nosso objetivo de pesquisa. Testamos ainda mais os efeitos moderadores da familiaridade, o suporte próprio de RSE e o histórico cultural. Nossas descobertas demonstraram que as aquisições poderiam resultar em reações negativas do cliente quando o alvo tem uma alta pontuação CSR, e o adquirente tem um desempenho ruim em termos de CSR. Quando os parceiros de aquisição mostraram um envolvimento congruente com a RSE, as avaliações do cliente sobre a meta melhoraram ligeiramente. Não detectamos efeitos moderadores para o suporte de RSE e o contexto cultural. A familiaridade, entretanto, parecia ter algum impacto sobre os resultados de nossa análise. Estas conclusões sugerem que os gerentes precisam incluir o ajuste cultural, e especificamente o desempenho de RSE de ambas as empresas, no processo de due diligence antes de uma aquisição.Sales, AugustoVeritati - Repositório Institucional da Universidade Católica PortuguesaJostes, Julia2023-03-17T14:50:28Z2022-07-072022-052022-07-07T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10400.14/40617TID:203133242enginfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-07-12T17:46:10Zoai:repositorio.ucp.pt:10400.14/40617Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T18:33:19.917541Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
The influence of a CSR spread on acquisition outcomes from a customer perspective |
title |
The influence of a CSR spread on acquisition outcomes from a customer perspective |
spellingShingle |
The influence of a CSR spread on acquisition outcomes from a customer perspective Jostes, Julia Mergers and acquisitions Corporate social responsibility Customer-based corporate reputation Stakeholder theory Cultural fit Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
title_short |
The influence of a CSR spread on acquisition outcomes from a customer perspective |
title_full |
The influence of a CSR spread on acquisition outcomes from a customer perspective |
title_fullStr |
The influence of a CSR spread on acquisition outcomes from a customer perspective |
title_full_unstemmed |
The influence of a CSR spread on acquisition outcomes from a customer perspective |
title_sort |
The influence of a CSR spread on acquisition outcomes from a customer perspective |
author |
Jostes, Julia |
author_facet |
Jostes, Julia |
author_role |
author |
dc.contributor.none.fl_str_mv |
Sales, Augusto Veritati - Repositório Institucional da Universidade Católica Portuguesa |
dc.contributor.author.fl_str_mv |
Jostes, Julia |
dc.subject.por.fl_str_mv |
Mergers and acquisitions Corporate social responsibility Customer-based corporate reputation Stakeholder theory Cultural fit Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
topic |
Mergers and acquisitions Corporate social responsibility Customer-based corporate reputation Stakeholder theory Cultural fit Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
description |
This study investigates the extent to which a spread in corporate social responsibility (CSR) between two acquisition partners can influence the outcome of CSR-motivated mergers and acquisitions (M&As). In line with the assumptions of stakeholder theory and signalling theory, we aimed to investigate whether all kinds of CSR investments result in favourable outcomes. To do so, we decided to focus on the outcomes for an acquisition’s target with a high CSR performance. Customer-based corporate reputation was chosen as the main variable of analysis, as improved corporate reputation is one major potential outcome of CSR engagement. We chose a causal research method to investigate our research objective. We further tested for the moderating effects of familiarity, own CSR support and cultural background. Our findings demonstrated that acquisitions could result in negative customer reactions when the target has a high CSR score, and the acquirer performs poorly in terms of CSR. When the acquisition partners showed congruent CSR engagement, customer’s evaluations of the target improved slightly. We did not detect moderating effects for CSR support and cultural background. Familiarity, however, seemed to have some impact on the outcomes of our analysis. These findings suggest that managers need to include the cultural fit, and specifically the CSR performance of both companies, in the due diligence process before an acquisition. |
publishDate |
2022 |
dc.date.none.fl_str_mv |
2022-07-07 2022-05 2022-07-07T00:00:00Z 2023-03-17T14:50:28Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/masterThesis |
format |
masterThesis |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10400.14/40617 TID:203133242 |
url |
http://hdl.handle.net/10400.14/40617 |
identifier_str_mv |
TID:203133242 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
instname_str |
Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
instacron_str |
RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
collection |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository.name.fl_str_mv |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
repository.mail.fl_str_mv |
|
_version_ |
1799132059411677184 |