Reputation, e-reputation and value creation of mergers-acquisitions

Ludivine Chalencon 1 Ana Colovic 2 Olivier Lamotte Ulrike Mayrhofer 1
1 Centre de Recherche Magellan
2 NEOMA - Neoma Business School
Abstract : This article investigates the effects of reputation and e-reputation on the value created by mergers and acquisitions (M&As). Building on the resource-based view, we study the impact of the acquirer’s reputation on financial market reactions to M&A announcements. The empirical study is based on a sample of 187 M&As involving French multinationals of the CAC 40 index and an online survey of their reputation. The statistical analysis shows that reputation has a significant, positive influence on M&A value-creation. The findings also highlight the fact that reputation matters regardless of the geographic location of the target companies. Our study makes theory of the role of intangible assets in firm performance more specific by highlighting the positive impact of reputation on the financial evaluation of M&A operations.
Keywords : mergers-acquisitions. Reputation e-reputation value creation
Document type :
Journal articles
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https://hal-univ-lyon3.archives-ouvertes.fr/hal-01515649
Contributor : Ulrike Mayrhofer <>
Submitted on : Thursday, April 27, 2017 - 7:21:49 PM
Last modification on : Friday, April 19, 2019 - 2:54:37 PM

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  • HAL Id : hal-01515649, version 1

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UNIV-LYON3 | MAGELLAN

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Ludivine Chalencon, Ana Colovic, Olivier Lamotte, Ulrike Mayrhofer. Reputation, e-reputation and value creation of mergers-acquisitions. International Studies of Management and Organization, Taylor & Francis (Routledge), 2017, 47 (1), pp.4-22. ⟨hal-01515649⟩

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