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Stakeholder and merger and acquisition research: a structured literature review

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  • Simon Segal
  • James Guthrie
  • Johannes Dumay

Abstract

This paper reviews literature that links stakeholders and mergers and acquisitions (M&A) to develop insights into how such research is developing, critique the research, and outline future research opportunities, not least in accounting and finance. Using a structured literature review (SLR) approach, we find such research is expanding in investigating diverse stakeholders and in analytic approaches, research methods and disciplines. With a shareholder focus, accounting and finance publications still largely ignore non‐shareholder stakeholders in researching M&A. The literature is dominated by a unidirectional analysis that primarily considers the effect M&A has on stakeholders, falls short in investigating inter‐ and intra‐stakeholder relationships and in eliciting the complex web of relationships between an M&A process and stakeholders.

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  • Simon Segal & James Guthrie & Johannes Dumay, 2021. "Stakeholder and merger and acquisition research: a structured literature review," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 61(2), pages 2935-2964, June.
    • Handle: RePEc:bla:acctfi:v:61:y:2021:i:2:p:2935-2964
    DOI: 10.1111/acfi.12688
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    3. Patrizia Gazzola & Stefano Amelio & Daniele Grechi & Chiara Alleruzzo, 2022. "Culture and sustainable development: The role of merger and acquisition in Italian B Corps," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 29(5), pages 1546-1559, September.
    4. Barros, Victor & Verga Matos, Pedro & Miranda Sarmento, Joaquim & Rino Vieira, Pedro, 2022. "M&A activity as a driver for better ESG performance," Technological Forecasting and Social Change, Elsevier, vol. 175(C).
    5. Florio, Cristina, 2024. "A structured literature review of empirical research on mandatory auditor rotation," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 55(C).

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