This book provides scholars and practitioners in mergers and acquisitions (M&As) with a solid foundation for further research. M&As continue to shape the economic landscape across the globe. While there is already a huge body of scholarly work on the subject, findings appear contradictory and academics and practitioners often struggle to understand what factors make M&As successful.
Due to the lack of an agreed-upon definition, research findings appear contradictory, while in fact they are often simply not comparable. To address this, the book rethinks how we measure key umbrella constructs. It specifically focuses on the conceptualization phase of the measurement process, often taken for granted in the current research.

Olimpia Meglio holds a Ph.D. in Business Administration. She is Associate Professor of Strategic Management at the University of Sannio, Benevento, Italy. Her research interests lie at the intersection of strategic and organizational issues in growth strategies. Her work has been published in leading academic journals, such as the Journal of Business Research , or R&D Management .
Svante Schriber holds a Ph.D. from the Stockholm School of Economics, and works as an Associate Professor at Stockholm Business School, Stockholm, Sweden. His research focuses on competitive strategy, particularly M&As. His interests include target selection, integration, and competitive dynamics in M&As. His work has been published in leading international journals, such as the Journal of World Business or Journal of Business Research .

1; Foreword;6 2; Preface;12 3; Acknowledgements;20 4; Contents;22 5; About the Authors;24 6; List of Tables;26 7;PartI Construct Measurement: The Case for Umbrella Constructs;27 8;1 Construct Measurement in Strategic Management: Key Issues and Debate;28 8.1;1.1 Introduction;28 8.2;1.2 Constructs and Construct Measurement;29 8.2.1;1.2.1 Construct Measurement;29 8.2.2;1.2.2 Openness Versus Precision in Defining Constructs;30 8.2.3;1.2.3 Pursuing Construct Clarity;33 8.2.4;1.2.4 Validity in Construct Measurement;36 8.3;1.3 Construct Measurement Practices in the Strategic Management Domain;37 8.4;1.4 Concluding Remarks;45 8.5;References;47 9;2 Umbrella Constructs: An Overarching Framework;52 9.1;2.1 Introduction;52 9.2;2.2 Understanding Umbrella Constructs;53 9.2.1;2.2.1 Defining Umbrella Constructs;53 9.2.2;2.2.2 The Development of Umbrella Constructs;55 9.2.3;2.2.3 The Life Cycle of Umbrella Constructs;57 9.3;2.3 Umbrella Constructs in the Management Field;58 9.3.1;2.3.1 Opposing Views on Umbrella Constructs;58 9.3.2;2.3.2 Handling Multiple Meanings in Umbrella Constructs;61 9.4;2.4 A Contextual View on Umbrella Constructs Within and Across Domains;65 9.4.1;2.4.1 Processes Between the Stages;69 9.5;2.5 Concluding Remarks;75 9.6;References;76 10;PartII Umbrella Constructs in the M&A Field;82 11;3 The Notion of Process in Merger and Acquisition Research;83 11.1;3.1 Introduction;83 11.2;3.2 The Adoption of a Process Perspective to Mergers and Acquisitions;85 11.2.1;3.2.1 Trajectories in the Evolution of the Notion of (Acquisition) Process;88 11.3;3.3 Conceptual Issues in Embracing a Process Perspective;93 11.4;3.4 Methodological Issues in Embracing a Process Perspective;97 11.5;3.5 Managerial Implications in Embracing a Process Perspective;100 11.6;3.6 Concluding Remarks;101 11.7;References;102 12;4 The Notion of Fit in Merger and Acquisition Research;109 12.1;4.1 The Notion of Fit;109 12.2;4.2 Varieties of Fit;110 12.3;4.3 Strategic Fit and Relatedness;112 12.3.1;4.3.1 What Is Strategic About Strategic Fit?;113 12.3.2;4.3.2 Conceptualizations and Measures of Strategic Fit and Relatedness;113 12.3.3;4.3.3 Strategic Fit: A Pendulum Between Similarities and Differences;116 12.3.4;4.3.4 Strategic Fit or Just Fit?;118 12.4;4.4 Organizational and Cultural Fit;119 12.4.1;4.4.1 A Dynamic Perspective on Culture in M&A;124 12.5;4.5 Discussion;125 12.5.1;4.5.1 Different Meanings Regarding the Conceptualization of Fit;126 12.5.2;4.5.2 Different Meanings Regarding the Measurement of Fit;129 12.6;4.6 Conclusion;131 12.7;References;132 13;5 The Notion of Integration in Merger and Acquisition Research;139 13.1;5.1 Introduction;139 13.2;5.2 Understanding Integration;140 13.2.1;5.2.1 Notions of Integration;140 13.2.2;5.2.2 Evolutionary Trajectories of Integration;142 13.3;5.3 Evolutionary Trajectories of Integration: A Closer Look;145 13.3.1;5.3.1 Integration as Decision-Making Process;145 13.3.2;5.3.2 Layers of Integration;146 13.3.3;5.3.3 Integration Solutions;147 13.3.4;5.3.4 Integration Routines and Capabilities;149 13.3.5;5.3.5 Integration Actors;150 13.3.6;5.3.6 Integration: One Out of Several Change Processes;151 13.4;5.4 Issues in Integration: Implications for Research and Practice;153 13.4.1;5.4.1 Implications for Research;153 13.4.2;5.4.2 Managerial Implications;155 13.5;5.5 Concluding Remarks;157 13.6;References;157 14;6 The Notion of Performance in Merger and Acquisition Research;164 14.1;6.1 Performance-Introduction;164 14.2;6.2 Performance: Different Roles in M&A Research;165 14.3;6.3 Performance Measures in M&A Research;168 14.3.1;6.3.1 Financial Variables;169 14.3.2;6.3.2 Accounting Variables;174 14.3.3;6.3.3 Perceptual Measures;177 14.3.4;6.3.4 Investment Duration;180 14.3.5;6.3.5 Operational Variables;180 14.4;6.4 Discussion;181 14.4.1;6.4.1 Toward Increased Clarity;182 14.4.2;6.4.2 Toward a Pluralism of Measures;183 14.5;6.5 Conclusion;186 14.6;References;187 15;PartIII Moving Forward;193 16;7 Umbrella Constructs and the Progress