Manager`s motivation in strategic decision
| Authors | |
|---|---|
| Year of publication | 2013 |
| Type | Article in Proceedings |
| Conference | Advances in Education Research |
| MU Faculty or unit | |
| Citation | |
| Field | Economy |
| Keywords | Motivation; Merger; Czech Republic. |
| Description | In this paper is analyzed the manager`s motivation in one of the most important strategic decisions – in decision about mergers and acquisitions (M&As). On the basis of shortly appointed list of different merger motives proposed in the economic literature is provided insights about the motives for mergers and acquisitions important for the managers of the companies with the domicile in the Czech Republic. The survey evidence shows that the primary motivation for M&As is to achieve increase in economic health of the company represented mainly by operating synergies. Perhaps the most surprising finding is that the second motive ascertained from this survey was the restructuring of companies group. This motive is surprisingly almost not mentioned by the economic theory and empirical researches. In our opinion its importance in the Czech Republic is caused mainly by legal conditions and partly by agency problem too. In the end there is carried out comparison with other relevant statistical surveys that shows that managers` motivation in this topic is quite different from evidence from the other countries. Finally there are described reasons for such differences. |
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