Mergers and acquisitions — The special case of German family firms: Research needs

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Abstact

Family firms represent the predominant business organization in Germany, accounting for 90% of all active companies. Despite the growing significance of family business research, mergers and acquisitions (M&A) involving these firms remain underexplored. This study addresses the unique characteristics and success factors pertinent to M&A transactions involving German family firms. By systematically reviewing the existing literature and conducting primary empirical research, this study aims to uncover specific success factors for these transactions. The findings will aid family businesses in navigating M&A activities to ensure long-term sustainability, especially in light of challenges such as business succession. Initial results suggest that family firms prioritize different values, such as socio-emotional wealth and sustainability, over purely financial indicators during M&A decisions. The study concludes with recommendations for future research to further elucidate these dynamics.

Keywords: Mergers, Acquisitions, Family Firms, Germany

JEL Classification: G34, L21, L26

Received: 16.05.2024
Accepted: 24.05.2024

How to cite: Ulrich, P., & Stockert, F. (2024). Mergers and acquisitions — The special case of German family firms: Research needs. In Ž. Stankevičiūtė, A. Kostyuk, M. Venuti, & P. Ulrich (Eds.), Corporate governance: Research and advanced practices (pp. 145–149). Virtus Interpress. https://doi.org/10.22495/cgrapp27