Retaliation Effectiveness and Acquisition Performance: The Influence of Managerial Decisions and Industry Context

Despite extensive interest in how acquisitions can increase firm competitiveness, research has given competitive retaliation to limited attention. Consistent with process on managerial decisions during acquisitions, we simultaneously consider the effects of and internal integration effectiveness acquisition performance. From an international survey Europe, demonstrate external environment influence their Specifically, longer duration open merger (M&A) strategy are associated increased effectiveness. Meanwhile, a high level industry M&A activity lowers it. We also confirm that is lower These findings help balance focus research, they clarify performance implications acquirer choices may lead effectiveness, as predicted by dynamics research.