IDEAS home Printed from https://ideas.repec.org/a/spr/binfse/v5y2013i6p421-431.html
   My bibliography  Save this article

Mergers and Acquisitions in the Software Industry

Author

Listed:
  • Markus Schief
  • Peter Buxmann
  • Dirk Schiereck

Abstract

This paper analyzes approaches investigating success drivers of mergers and acquisitions (M&A) in the software industry. The literature review covers a classification of research papers in the generic and software industry specific M&A research discipline. The results accentuate that the impact of success factors depends on the research context and that many factors have not been examined so far with respect to the software industry. Building on these insights, the resulting areas for research are pointed out. The investigation of software industry specific factors, in particular, promises to contribute to the analysis of variance in M&A performance. Copyright Springer Fachmedien Wiesbaden 2013

Suggested Citation

  • Markus Schief & Peter Buxmann & Dirk Schiereck, 2013. "Mergers and Acquisitions in the Software Industry," Business & Information Systems Engineering: The International Journal of WIRTSCHAFTSINFORMATIK, Springer;Gesellschaft für Informatik e.V. (GI), vol. 5(6), pages 421-431, December.
  • Handle: RePEc:spr:binfse:v:5:y:2013:i:6:p:421-431
    DOI: 10.1007/s12599-013-0293-1
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1007/s12599-013-0293-1
    Download Restriction: Access to full text is restricted to subscribers.

    File URL: https://libkey.io/10.1007/s12599-013-0293-1?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Thomas Hess & Peter Loos & Peter Buxmann & Koray Erek & Ulrich Frank & Jürgen Gallmann & Martin Gersch & Rüdiger Zarnekow & Peter Zencke, 2012. "ICT Providers: A Relevant Topic for Business and Information Systems Engineering?," Business & Information Systems Engineering: The International Journal of WIRTSCHAFTSINFORMATIK, Springer;Gesellschaft für Informatik e.V. (GI), vol. 4(6), pages 367-373, December.
    2. Katz, Michael L & Shapiro, Carl, 1985. "Network Externalities, Competition, and Compatibility," American Economic Review, American Economic Association, vol. 75(3), pages 424-440, June.
    3. Beitel, P. & Schiereck, D., 2003. "Zum Erfolg von Akquisitionen und Zusammenschlüssen zwischen Banken: Eine Bestandsaufnahme der empirischen Forschung," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 35215, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
    4. Robert Bruner, 2004. "Where M&A Pays and Where It Strays: A Survey of the Research," Journal of Applied Corporate Finance, Morgan Stanley, vol. 16(4), pages 63-76.
    5. Hess, Thomas & Loos, Peter & Buxmann, Peter & Erek, Koray & Frank, Ulrich & Gallmann, Jürgen & Gersch, Martin & Zarnekow, Rüdiger & Zencke, Peter, 2012. "ICT Providers: A Relevant Topic for Business and Information Systems Engineering?," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 71070, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
    6. David G. Messerschmitt & Clemens Szyperski, 2005. "Software Ecosystem: Understanding an Indispensable Technology and Industry," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262633310, December.
    7. Peter Buxmann & Heiner Diefenbach & Thomas Hess, 2013. "The Software Industry," Springer Books, Springer, edition 127, number 978-3-642-31510-7, October.
    8. A. Craig MacKinlay, 1997. "Event Studies in Economics and Finance," Journal of Economic Literature, American Economic Association, vol. 35(1), pages 13-39, March.
    9. Christa H. S. Bouwman & Kathleen Fuller & Amrita S. Nain, 2009. "Market Valuation and Acquisition Quality: Empirical Evidence," The Review of Financial Studies, Society for Financial Studies, vol. 22(2), pages 633-679, February.
    10. Schief, Markus & Pussep, Anton & Buxmann, Peter, 2013. "The Impact of Software Business Model Characteristics on Firm Performance," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 60972, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
    11. Andrade, Gregor & Stafford, Erik, 2004. "Investigating the economic role of mergers," Journal of Corporate Finance, Elsevier, vol. 10(1), pages 1-36, January.
    12. Oliver Budzinski & Arndt Christiansen, 2007. "The Oracle/PeopleSoft Case: Unilateral Effects, Simulation Models and Econometrics in Contemporary Merger Control," Marburg Working Papers on Economics 200702, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    13. Jope, F. & Schiereck, D. & Zeidler, F., 2010. "Value Generation of Mergers and Acquisitions in the Technology, Media and Telecommunications Industry," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 56580, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
    14. Harford, Jarrad, 2005. "What drives merger waves?," Journal of Financial Economics, Elsevier, vol. 77(3), pages 529-560, September.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Avinadav, Tal & Chernonog, Tatyana & Perlman, Yael, 2017. "Mergers and acquisitions between risk-averse parties," European Journal of Operational Research, Elsevier, vol. 259(3), pages 926-934.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Knezovic, Anita & Culjak, Maria, 2018. "The Impact Of A Takeover Bid On The Capital Market Efficiency," UTMS Journal of Economics, University of Tourism and Management, Skopje, Macedonia, vol. 9(2), pages 109-120.
    2. Rao-Nicholson, Rekha & Ayton, Julie (Salaber), 2016. "Euphoria in financial markets: How Indian companies generate value in their cross-border acquisitions," Research in International Business and Finance, Elsevier, vol. 38(C), pages 494-508.
    3. Andrey Golubov & Dimitris Petmezas & Nickolaos G. Travlos, 2013. "Empirical mergers and acquisitions research: a review of methods, evidence and managerial implications," Chapters, in: Adrian R. Bell & Chris Brooks & Marcel Prokopczuk (ed.), Handbook of Research Methods and Applications in Empirical Finance, chapter 12, pages 287-313, Edward Elgar Publishing.
    4. Srinivasan, Shweta, 2020. "Foreign competition and acquisitions," Journal of Corporate Finance, Elsevier, vol. 60(C).
    5. Shaojie Lai & Xiaoling Pu & Qing (Sophie) Wang & Jianing Zhang, 2023. "Reference prices and withdrawn acquisitions," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 28(4), pages 4365-4384, October.
    6. Song, Moon H. & Walkling, Ralph A., 2005. "Anticipation, Acquisitions and Bidder Returns," Working Paper Series 2005-11, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
    7. Anastasia Stepanova & Vladislav Savelyev & Malika Shaikhutdinova, 2018. "The Anchoring Effect in Mergers and Acquisitions: Evidence from an Emerging Market," HSE Working papers WP BRP 63/FE/2018, National Research University Higher School of Economics.
    8. Levine, Oliver, 2017. "Acquiring growth," Journal of Financial Economics, Elsevier, vol. 126(2), pages 300-319.
    9. Navio-Marco, J & Solorzano-Garcia, M & Urueña, A., 2015. "Language As Key Factor Of Long-Term Value Creation In Mergers And Acquisitions In The Telecommunications Sector," 26th European Regional ITS Conference, Madrid 2015 127170, International Telecommunications Society (ITS).
    10. Benjamin C. Ayers & Craig E. Lefanowicz & John R. Robinson, 2007. "Capital Gains Taxes and Acquisition Activity: Evidence of the Lock†in Effect," Contemporary Accounting Research, John Wiley & Sons, vol. 24(2), pages 315-344, June.
    11. Reddy, Kotapati Srinivasa, 2015. "Extant Reviews on Entry-mode/Internationalization, Mergers & Acquisitions, and Diversification: Understanding Theories and Establishing Interdisciplinary Research," MPRA Paper 63744, University Library of Munich, Germany, revised 2015.
    12. Abdullah Mamun & Dev Mishra, 2012. "Industry Merger Intensity and Cost of Capital," International Review of Finance, International Review of Finance Ltd., vol. 12(4), pages 469-490, December.
    13. An, Suwei, 2023. "Essays on incentive contracts, M&As, and firm risk," Other publications TiSEM dd97d2f5-1c9d-47c5-ba62-f, Tilburg University, School of Economics and Management.
    14. Hsu, Kuang-Chung & Wright, Michael & Zhu, Zhen, 2017. "What motivates merger and acquisition activities in the upstream oil & gas sectors in the U.S.?," Energy Economics, Elsevier, vol. 65(C), pages 240-250.
    15. Borell, Mariela & Heger, Diana, 2013. "Sources of value creation through private equity-backed mergers and acquisitions: The case of buy-and-build strategies," ZEW Discussion Papers 13-094, ZEW - Leibniz Centre for European Economic Research.
    16. Navío-Marco, Julio & Solórzano-García, Marta & Matilla-García, Mariano & Urueña, Alberto, 2016. "Language as a key factor of long-term value creation in mergers and acquisitions in the telecommunications sector," Telecommunications Policy, Elsevier, vol. 40(10), pages 1052-1063.
    17. Santiago Kopoboru & Gloria Cuevas-Rodríguez & Leticia Pérez-Calero, 2020. "Boards that Make a Difference in Firm’s Acquisitions: The Role of Interlocks and Former Politicians in Spain," Sustainability, MDPI, vol. 12(3), pages 1-19, January.
    18. Nagano, Mamoru & Yuan, Yuan, 2013. "Cross-border acquisitions in a transition economy: The recent experiences of China and India," Journal of Asian Economics, Elsevier, vol. 24(C), pages 66-79.
    19. Wenjing Ouyang & Samuel H. Szewczyk, 2018. "Stock price informativeness on the sensitivity of strategic M&A investment to Q," Review of Quantitative Finance and Accounting, Springer, vol. 50(3), pages 745-774, April.
    20. Joseph A. Clougherty & Jo Seldeslachts, 2013. "The Deterrence Effects of US Merger Policy Instruments," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 29(5), pages 1114-1144, October.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:binfse:v:5:y:2013:i:6:p:421-431. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.