The Reality of M&A Governance

Transforming Board Practice for Success
2012
ISBN: 978-3-642-44276-6
Verlag: Springer

Buch, Englisch, 260 Seiten, Format (B × H): 155 mm x 235 mm, Gewicht: 423 g

Empirical research shows that two thirds – some claim even four fifths – of all acquisitions fail.  Bad acquisitions can spell disaster for a company, but if successful, they can lead to healthy growth, enhanced competitiveness and a world market position. Despite the vast amount of academic and practical research on M&A, there are still no adequate theories to explain this continued trend of failure. In fact, although success factors have been broadly researched and are well known, most work still concentrates on them without concomitantly touching upon the necessary governance structure which enables their effective deployment. This is crucial. In order to determine what constitutes an effective board and governance structure, extensive qualitative fieldwork was carried out through discussions with some of the most renowned international CEOs and Chairmen. From this, two in-depth analyses of prominent cases are made, one of extraordinary success and the other of integral failure. The business leaders' management approaches are scrutinised, revealing significant differences between what worked and what did not, and recommendations are derived for improved corporate governance. The author's conclusions sharply illustrate the limits and challenge the inadequacies of current business practice, revealing gaps between mainstream theory and the reality of the boardroom. Due to his innovative approach, the study is praised by practitioners for itsadditions to strategic management understanding and its provision of effective tools for boards and managers.

Zielgruppe

Professional/practitioner

Autoren/Hrsg.

Farschtschian, Farsam

Fachgebiete

• Wirtschaftswissenschaften Betriebswirtschaft Management Change Management
• Wirtschaftswissenschaften Betriebswirtschaft Unternehmensorganisation, Corporate Responsibility Mergers & Acquisitions (M&A), Übernahmen & Buy-outs
• Wirtschaftswissenschaften Betriebswirtschaft Unternehmensorganisation, Corporate Responsibility Unternehmenskultur, Corporate Governance

Inhaltsverzeichnis

Conceptual Part.- Research Methodology.- Empirical Part.- Analysis of Results.- Best Practice Recommendations for Boards.- Outlook and Conclusion.

Über Autor(innen)

Dr. Farsam Farschtschian is an Investment Advisor at Morgan Stanley in London. He studied at the Universities of Geneva and Berkeley and has a PhD in Business Administration from the University of St.Gallen, Switzerland. He is also a Research Associate at its IFPM Centre for Corporate Governance. He first published his empirical findings in his book "The Secret of Successful Acquisitions: Abandoning the Myth of Board Influence”.