The Impact of Governance Mechanisms on Post-M&A Performance: An Overview

Abstract

The objective of this article is to present a synthesis of research related to the study of the performance of mergers and acquisitions. While the goal of improving performance is often put forward as a reason for implementing M&A operations, the results obtained from empirical studies are mixed regarding their impact on acquiring companies. The two categories of studies analyzing this impact on long-term operational performance and short- and long-term stock performance indicate that M&A operations often tend to be unsuccessful.