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Provisional Title of Dissertation
Motives and Effects of Mergers and Acquisitions
Describe the topic(s) or issue(s) you wish to investigate for your Dissertation.
These must relate to the subjects that comprise your programme of study, and must clearly indicate what your aims /objectives / research questions will be.
Mergers and acquisitions have been part and parcel of business strategies for a long time. There is a common belief that mergers and acquisitions are motivated by the need to increase shareholder value through an increase in organisational efficiency, market control, and economies of scale among other aspects. Despite that popular notion, mergers and acquisitions often do not lead to expected outcomes (Straub 2007). Thus, it remains unclear whether mergers and acquisitions are ideal for organisations or not. Moreover, since motives of mergers and acquisition differ, conducting a study to develop further understanding of both the motives and effects of acquisitions is desirable. For those reasons, the focus shifts to the aim of the study.
AIM The aim of the proposed study is to explore the motives and effects attributable to mergers and acquisitions.
The current study will investigate whether differences in the motives and effects of mergers and acquisitions exist in different organizations
Additionally, the study will consider the extent to which evidence supports or deviates from theoretical practices with a view to illuminating the topic.
The proposed study is expected to focus on the services sector. To get insight into the effects and motives of mergers and acquisitions, data from Yahoo Finance and other reliable up-to-date data will be analyzed. The analysis will follow the premise that mergers and acquisitions have emerged as critical business strategies. Whereas an acquisition is an act reflective of an organization taking control of another, and establishing itself as the owner, a merger takes place when entities of equivalent stature agree to dissolve and become one (Reifenberger 2012). Hence, a merger has two or more companies, doing away with distinct/ separate operations. Irrespective of the minor variations between mergers and acquisitions, the motives and effects of mergers remain contentious.
The business events spanning over the previous thirty years are thought to have influenced the emergence of mergers and acquisitions, as business strategies observed by Cartwright & Schoenberg (2006). It is believed that the United States is home to the initial cases of mergers and acquisitions. From the first reported case of mergers and acquisitions, the primary motif was to gain larger market share or total market control (Cartwright & Schoenberg 2006).
Ferris and Petitt (2013) have identified six phases, involving mergers and acquisitions. Based on the authors analysis, the beginning and end of mergers and acquisitions often coincided with economic changes, such as economic recessions or cycles. Ferris and Petitt (2013) held that credit availability, technological changes, regulatory changes and industrial shocks were major contributing factors to mergers and acquisitions.
In the first wave of mergers and acquisitions, companies were interested in forming monopolies (Harwood 2006). For example in 1901, entities operating in the United States steel industry merged to form the United States Steel Corporation. However, the government enacted legislation that outlawed anti-competitive behaviour. Thus, it is hypothesized that companies were seeking for market control.
What facts or information will you need to gather? How will you access these?
Current reflection on mergers and acquisitions, based on the services sector will form the basis of the current study. In particular, recent journal articles and books that contain relevant studies are likely to be significant sources of information.
Information on current mergers and acquisitions practices from the industry players may also be taken into consideration.
I intend to employ both descriptive survey and correlation designs. Through a descriptive design, data collected can be analyzed in descriptive terms. Regarding the use of correlations, the method is significant, since it allows a researcher to assess the level of association between or among variables. ROA, ROE and EFF rations will also be computed to determine the effect of mergers and acquisitions. The first method involves collecting secondary data from online sources, such as Yahoo Finance. The data from such sources would be useful in determining the effects of mergers and acquisitions.
The studys analysis is likely to be overly statistical.
To which subject area(s) is this proposal - in your view -most strongly related?
In my assessment, mergers and acquisitions focus on the strategic aspect of organizations, as well as marketing. For that reason, I presume that the proposal leans more towards strategic management, organizational structures and marketing.
Name any tutor(s) you think might be appropriate to supervise your dissertation.
Dr Helen Smith.
It should be noted that the proposed research concentrates on motives and effects of mergers and acquisitions. Thus, the purpose of the study entails carrying out an examination of the benefits that mergers and acquisitions have on companies. The focus is on some time before and after mergers and acquisitions are completed. Through the analysis of selected companies financial records, I intend to develop a better understanding on how markets react to mergers and acquisitions. Such changes may include an increase or decline in shareholder value, as reflected in equity value and such aspects as increase/ decline in sales, or overall effect on the efficiency of organisations. It is expected that through a study of this nature, students of business get insightful information on both motives and effects of mergers and acquisitions.