Transformations  in
Business & Economics

MOTIVATION ATTRIBUTES AND FACTORS OF FUTURE IMPLEMENTATION OF CROSS-BORDER M&AS IN THE CONTEXT OF THEIR MUTUAL INTERCONNECTIONS AND BUSINESS SUSTAINABILITY²
Jaroslava Heckova, Beata Gavurova, Zuzana Birknerova, Alexandra Chapcakova, Lucia Zbihlejova

ABSTRACT. Capital re-allocation and increasing the competitive advantage through the implementation of cross-border mergers and acquisitions is one of the major global phenomena. These processes are an important indicator of economic activity and the development of capital markets. The aim of the paper is to characterise the links between the perception of motivation attributes of cross-border mergers and acquisition implementation by means of the M&A methodology (Motivation Attributes of Cross-Border Mergers and Acquisitions) and the specified factors identified by the AFM&A methodology (Attributes of Future Mergers and Acquisitions). The analyses were conducted on the basis of the data collected from 165 enterprises. The context analysis was carried out between six motivational attributes - Growth Acceleration, Synergistic Attributes Utilisation, Personal Goal and Vision Achievement, Product and Service Extension, Cost saving, and Capacity Expansion - and three factors of the future M&A process perception - Aims, Concerns, and Reasons. The correlation analyses confirmed the existence of several statistically significant correlations between the assessment of the merger and acquisition motivation attributes and the assessment of the future cross-border M&A implementation factors. In terms of research limitations and future directions, it is crucial to highlight the need for a comprehensive and interdisciplinary examination of this issue. Simultaneously, attention should be drawn to the impact of sociocultural and global factors influencing cross-border merger and acquisition processes.

KEYWORDS:  cross-border merger, cross-border acquisition, motivation attributes, future cross-border M&A, sustainable business.

JEL classification:  F21; F23; C18.

²Acknowledgments:  This research was supported by the Scientific Grant Agency of the Ministry of Education, Science, Research, and Sport of the Slovak Republic and the Slovak Academy Sciences as part of the research project VEGA No. 1/0590/22: "Exploration of natural, social and economic potential of areas with environmental burdens in the Slovak Republic for the development of specific forms of domestic tourism and quantification of environmental risks". The research was carried out as part of the grant project VEGA No. 1/0661/20: "Trends in development and determinants of cross-border mergers and acquisitions in the European area". Disclosure statement. Authors declare that they do not have any competing financial, professional, or personal interests from other parties .