ETD Collection

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    Antecedents of financial success in post-merger and acquisitions: pursuing corporate entrepreneurship in the South African real estate industry
    (2016) Makatini, Phumelele
    This study was aimed at investigating what the antecedents are for achieving financial success in post mergers and acquisitions, particularly in the field of commercial property in an emerging economy. This study sought to understand the reasoning and the value addition behind mergers and acquisitions activities in the real estate sector. This paper used empirical research to conduct the investigation of the hypothesised relationship between financial performance and three key independent variables, namely; corporate entrepreneurial culture, resource sharing and infrastructure support. An analysis by testing the hypotheses that predict the relationships of the variables was undertaken through various statistical models. Mergers and acquisitions often take place in entrepreneurially oriented organisations as a means of increasing competitiveness, productivity and growth, therefore this paper tests the financial performance post mergers and acquisitions transactions. It also tests the role of corporate entrepreneurship and corporate culture (corporate entrepreneurial culture) specifically on the impact that it has on financial performance. Understanding the financial performance relationship with other variables is significantly important because it is argued by some researchers that the benefits of mergers and acquisitions sturdily enhance revenue growth through market share, create economies of scale through cost efficient methodologies and often produce tax gains. This paper tests the validity of these theories.