The present expert interview-based, qualitative analysis is motivated by the foregoing considerations and seeks to investigate: how companies use non-financial sustainability information in M&A to contribute to transaction success and how sustainability management is ensured in the acquired entity after the transaction. A particular focus shall be placed on the post-merger integration of sustainability controlling. The following chapter 2 explains terms and concepts relating to sustainability, sustainability controlling and the M&A process. Chapter 3 discusses the relevant research findings on the CSR business case and the CSR research in M&A. Subsequently, it identifies the research gap and derives the research questions. Chapter 4 answers the research questions by evaluating and discussing the results of the underlying expert interviews and derives implications for research and practice. Finally, chapter 5 concludes by depicting the key insights of the analysis.
Corporate Social Responsibility (CSR) has gained momentum in the last two decades as media reports on climate change, inhumane working conditions and environmental scandals have prompted the need to consider ecological and social perspectives when conducting business. One such example is the GREENPEACE campaign against NESTLÉ. NESTLÉ was accused of using palm oil in its KitKat production from the Indonesian palm oil supplier SINAR MAS which is known for rainforest clearing and the subsequent destruction of wildlife habitats. In light of the increasing disclosure requirements and scrutiny of corporate activity by various stakeholders, companies are being challenged to implement ecological and social concerns into their operations, i.e. sustainability management in order to secure the societal acceptance of the business, the so-called license to operate.
The need for sustainability management and the inherent sustainability controlling is further emphasised by the extensively researched CSR business case, i.e. the link between CSR and firm’s financial performance. A large body of researchers and practitioners acknowledge the value-enhancing capabilities of CSR, e.g. improvement of operating efficiency or positive impact on market returns. However, to unlock the full value-adding potential of CSR, systematic controlling is required to identify strategic value drivers, derive appropriate activities and implement instruments for measuring the impact of the activities.
Inhaltsverzeichnis (Table of Contents)
- Introduction.
- Theoretical Background.
- Sustainability Controlling.
- Sustainability Terms.
- Definition and Objective.
- Organisation.
- Tasks and Processes.
- Instruments.
- Mergers & Acquisitions.
- Definition, Types and Objectives.
- M&A Process.
- Post-merger Integration of Controlling.
- Sustainability Controlling.
- Literature Review.
- Research on Sustainability and Economic Performance.
- Research on Sustainability in M&A.
- Research Gap and Research Questions.
- Empirical Analysis.
- Research Design.
- Basics of Qualitative Research.
- Data Collection.
- Data Analysis.
- Empirical Results.
- Integration of Sustainability Information into M&A pre-merger.
- Preparatory Phase.
- Transaction Phase.
- Integration of Sustainability Controlling post-merger.
- Objectives and Context.
- Organisation.
- Tasks and Processes.
- Instruments.
- Integration Barriers and Success Factors.
- Levels of Integration.
- Integration of Sustainability Information into M&A pre-merger.
- Discussion and Implications.
- Research Design.
- Conclusion.
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This Master thesis aims to provide an empirical analysis of the integration of sustainability aspects into the M&A process. It investigates how sustainability controlling is incorporated within the context of mergers and acquisitions, examining both pre-merger and post-merger phases.
- Sustainability Controlling and its role in M&A
- Integration of sustainability aspects in pre-merger stages
- Integration of sustainability aspects in post-merger stages
- Barriers and success factors of sustainability integration in M&A
- Implications of sustainability integration for M&A performance
Zusammenfassung der Kapitel (Chapter Summaries)
The thesis starts with an introduction that sets the context for the research, followed by a theoretical background chapter that provides definitions and explanations of key concepts related to sustainability controlling and M&A. The third chapter presents a literature review on the intersection of sustainability and M&A, exploring existing research and identifying a research gap that this thesis addresses. Chapter 4 presents the empirical analysis, detailing the research design, data collection and analysis methods, and presenting the findings of the study. The discussion and implications chapter analyzes the results, drawing connections to the theoretical background and existing literature. While a conclusion chapter is included, the provided preview does not include its content.
Schlüsselwörter (Keywords)
This thesis focuses on key concepts such as sustainability controlling, mergers and acquisitions, integration, sustainability performance, economic performance, qualitative research, and empirical analysis.
- Citation du texte
- Anastasia Harder (Auteur), 2020, Integrating Sustainability Aspects into the M&A Process, Munich, GRIN Verlag, https://www.grin.com/document/1189256
