If mergers and acquisitions quite often end up providing a


If mergers and acquisitions quite often end up providing a competitive disadvantage, why do so many of them take place? Given the poor track record, is the continuing M&A activity a result of principal–agent problems and managerial hubris? What can be done to overcome principal–agent problems? Are there other reasons for poor performance?

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Operation Management: If mergers and acquisitions quite often end up providing a
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