HOW CAN WE CREATE VALUE FROM ENTERPRISE CONCENTRATIONS? A META-ANALYSIS OF THE SCIENTIFIC LITERATURE ON M&AS IN THE EUROPEAN UNION

The aim of this paper is to present, using a quantitative and qualitative analysis of the scientific literature published by authors from the European Union, regarding the concepts of value creation/destruction through mergers and acquisitions (M&As) and their quantification, the latter being made by measuring the abnormal returns and the performance of the concentration. The purpose of the paper is reached by conducting a meta-analysis of the scientific literature on mergers, acquisitions and synergy. The sample consists of 83 papers, published between 1999 and 2017, which approach the presented subjects from both a theoretical perspective and an empirical one. The analysis and classification of the literature made possible the identification of the main topics in the field and contributes to a future research agenda in the field. This analysis has, as main purpose, to draw attention on the preoccupation of the researchers and practitioners in the field, by pointing out the results and the main conclusions of the studies from the chosen sample of papers.