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The acquisition process as a learning process: Evidence from a study of critical problems and solutions in domestic and cross-border deals

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  • Very, Philippe
  • Schweiger, David M.
Abstract
While mergers and acquisitions (M&A) are clearly on the rise, most deals do not create value. Researchers have attempted to explain poor performance by a failure to adequately manage the acquisition process. Following this research, this study first attempted to identify key problems faced and solutions employed by acquirers during the stages of the acquisition process for domestic and cross-border deals. Results were then interpreted from a learning perspective, which itself revealed that the acquisition process can be understood both as a learning process applied to the focal deal and as a learning process aimed at improving the acquisition process itself. Moreover, results indicate that both forms of learning are affected by an acquirer's experience in a particular target country.

Suggested Citation

  • Very, Philippe & Schweiger, David M., 2001. "The acquisition process as a learning process: Evidence from a study of critical problems and solutions in domestic and cross-border deals," Journal of World Business, Elsevier, vol. 36(1), pages 11-31, April.
    • Handle: RePEc:eee:worbus:v:36:y:2001:i:1:p:11-31
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    References listed on IDEAS

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    1. Gregory P. Marchildon (ed.), 1991. "Mergers And Acquisitions," Books, Edward Elgar Publishing, number 517.
    2. Bruce Kogut & Harbir Singh, 1988. "The Effect of National Culture on the Choice of Entry Mode," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 19(3), pages 411-432, September.
    3. Philippe Very & Michael Lubatkin & Roland Calori, 1996. "A Cross-National Assessment of Acculturative Stress in Recent European Mergers," International Studies of Management & Organization, Taylor & Francis Journals, vol. 26(1), pages 59-86, March.
    4. Jan Johanson & Jan-Erik Vahlne, 1977. "The Internationalization Process of the Firm—A Model of Knowledge Development and Increasing Foreign Market Commitments," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 8(1), pages 23-32, March.
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