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http://hdl.handle.net/10397/89567
Title: | Which type of M&A makes an acquiring restaurant firm a star? Profit-driven versus growth-driven M&A | Authors: | Mun, SG Koh, Y Jang, S |
Issue Date: | Aug-2022 | Source: | Cornell hospitality quarterly, Aug. 2022, v. 63, no. 3, p. 369-384 | Abstract: | This study identifies whether profit-driven or growth-driven mergers and acquisitions (M&As) are more beneficial to a restaurant firm aiming to achieve profitable growth after an M&A. The results indicate that despite the challenges that must be overcome to achieve profitable growth through M&As, profit-driven acquiring firms are more likely to have better post-M&A operational performance than growth-driven acquiring firms. Therefore, this study suggests that when restaurant firms seek to grow their business through M&As, they should pursue this goal after achieving higher operational profitability, along with better cost controls, supply management, and marketing strategies, rather than optimistically adhering to growth strategies before accumulating any internal, market-based competitive strengths. | Keywords: | Growth-driven M&A Operational profitability Pre- and post-M&A|Profit-driven M&A |
Publisher: | SAGE Publications | Journal: | Cornell hospitality quarterly | ISSN: | 1938-9655 | EISSN: | 1938-9663 | DOI: | 10.1177/1938965520979174 | Rights: | This is the accepted version of the publication Mun, S. G., Koh, Y., & Jang, S. (Shawn). (2022). Which Type of M&A Makes an Acquiring Restaurant Firm a Star? Profit-Driven Versus Growth-Driven M&A. Cornell Hospitality Quarterly, 63(3), 369–384. Copyright © 2021 (The Author(s)). DOI:10.1177/1938965520979174. |
Appears in Collections: | Journal/Magazine Article |
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File | Description | Size | Format | |
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Mun_M&A_Acquiring_Restaurant.pdf | Pre-Published version | 1.91 MB | Adobe PDF | View/Open |
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