Presenting a Comprehensive Framework for Integration and Acquisition Management in the Financial Services Industry

Abstract

Today, merger and acquisition (M&A) are important strategic tools to address various motives in the financial services industry; However, these strategies have failed in numerous cases. This article intends to develop a comprehensive framework that could specify processes and success factors in each particular stage of the M&A so that executives could use it as an applied tool. For this purpose, a systematic review of M&A literature was carried out for the period between 1990 and 2019. As a result, 2912 related documents were studied and finally 101 documents were selected and analyzed by applying the latest version of the Atlasti 8 software. Based on this analysis, 403 codes, 32 concepts and 8 categories were identified. These categories comprised the main M&A framework including the following stages: 1) establishing M&A intelligence, 2) planning and formulating the M&A strategies, 3) strategy assessment and target selection, 4) negotiation, 5) in-depth risk analysis, 6) introducing the final framework, 7) administering and integrating, 8) strategic control. Finally, a comprehensive model for the management of the M&A process has been introduced that can help not only the financial services industry, but also other industries if they follow the required strategic adjustments.