Factors affecting Acquisitions and mergers evaluation strategies in the banking industry

This study evaluates the factors affecting merger and acquisition evaluation strategies in the banking industry. It explores the impact of cultural, human resource, economic, and technological factors on mergers and acquisitions. The research aims to provide recommendations for effective implementation of mergers and acquisitions in the banking sector.

Running Head: MERGER AND ACQUISITION
Factors affecting merger and acquisition evaluations strategies in the banking industry

MERGER AND ACQUISITION ii
Abstract
This study is emphasized on evaluating factors which affect acquisition and merger evaluations
strategies in banking sector. Banking industry could play an imperative role in affecting economic
situation of country. In the baking industry, merger and acquisition is an imperative tool to expand the
market at the international level. In this, many sections has been discussed, as it can be related to the
introduction, literature review, and research methodology, data analysis section, conclusion and
recommendation. The introduction chapters could consider certain elements named as research
background, research significance, research aim, and research questions, research hypothesis and
organizational structure. The research background section is imperative to comprehend the current
situation of merger and acquisition. This section is imperative to reach at the reliable conclusion. The
research questions is supporting to understand what will be covered in the study. A Literature review
section could support to theoretically evaluate research matter by entailing existing sources and
achieve the research aim. In this section, the many factors has been discussed that might affect to the
merger as well as acquisition. This section has also supports to understand different evaluation
strategies of the merger and acquisition in the banking sector that would be vital to increase success
of merger and acquisition implementation. Further, researcher has practised the deductive research
tool to conduct this study as it facilitates to develop the hypothesis and prove and reject them by
considering the statistical tool. This study has been conducted on the 46 employees of different
organization to get the data in the favour of research matter. Probability sampling tool is practised by
researcher due to eliminating the biases from the study. This study has considered statistical data
analysis tool and literature review method to evaluate conceptual as well as numerical data that would
be effective in completing the research aim in an appropriate way. Moreover, conclusion section
demonstrated that internal as well as external factors could affect to the merger and acquisition
evaluation strategies in the banking sector.

MERGER AND ACQUISITION iii
Table of Content
Abstract.................................................................................................................................................. ii
Table of Content.................................................................................................................................... iii
Introduction, Research Aim, Objectives and Research Questions:.......................................................vi
Research background....................................................................................................................... vi
Research significance....................................................................................................................... vi
Aim of research................................................................................................................................. vi
Research questions.......................................................................................................................... vii
Research hypothesis........................................................................................................................ vii
Organizational structure................................................................................................................... vii
Literature review.................................................................................................................................... x
Introduction........................................................................................................................................ x
Factors affecting merger and acquisition evaluation strategies to the banking industry.....................x
Conclusion..................................................................................................................................... xviii
Research Design and Methodology.................................................................................................... xix
Rationality of research methodology............................................................................................... xix
Research Onion Framework............................................................................................................ xix
Research Approach......................................................................................................................... xx
Research Design............................................................................................................................. xxi
Research Strategy........................................................................................................................... xxi
Data Collection Method.................................................................................................................. xxii
Sampling Method........................................................................................................................... xxiv
Data Analysis Method.................................................................................................................... xxiv
Research Limitations...................................................................................................................... xxv
Store.............................................................................................................................................. xxvi
Ethnocentrism................................................................................................................................ xxvi
Ethical Consideration..................................................................................................................... xxvi
Survey through questionnaire....................................................................................................... xxvii
Findings/Results:................................................................................................................................ xxx
Conclusion and recommendation...................................................................................................... xlvii
Conclusion..................................................................................................................................... xlvii
Recommendations........................................................................................................................ xlviii
References............................................................................................................................................ lii
Gender
Age
Experience
Merger and acquisition is imperative way for increasing the external growth
Mergers and Acquisitions (M&A) is being major force in the changing atmosphere
Mergers and Acquisitions (M&A) could be used as the strategic plan in the organization

MERGER AND ACQUISITION iv
Successful competition in the global market could be relied on the abilities got in the timely as well as
well-organized fashion by Merger as well as Acquisitions
which method is more suitable for the business performance
Merger and acquisition is used to maximize shareholder value
Strategies of Merger and acquisition is used for operating the business
Mergers and Acquisitions could affected to the overall performance of employees
factors affect more to merger and acquisition
Gender
Age
Experience
Merger and acquisition is imperative way for increasing the external growth
Mergers and Acquisitions (M&A) is being major force in the changing atmosphere
Mergers and Acquisitions (M&A) could be used as the strategic plan in the organization
Successful competition in the global market could be relied on the abilities got in the timely as well as
well-organized fashion by Merger as well as Acquisitions
which method is more suitable for the business performance
Merger and acquisition is used to maximize shareholder value
Strategies of Merger and acquisition is used for operating the business
Merger and acquisition affect to the business performance
Mergers and Acquisitions could affected to the overall performance of employees
factors affect more to merger and acquisition

MERGER AND ACQUISITION v
Introduction, Research Aim, Objectives and Research Questions:
Title: Main title of the research is “Factors affecting Acquisitions and mergers evaluation strategies in
the banking industry”.
Research background
In current business era, banking sector could need to gain their understanding of the research matter.
Merger and acquisitions could have direct impact on productivity of organisation. Different kinds of
factors that are considered by the firm as it might affect the merger and acquisition named cultural,
human resource, economic, and technological factors. The merger could facilitate to two firms to
combine with each other for operating their business at a large scale and make higher competitive
advantages (Bauer and Matzler, 2014). The acquisition method could enable one big organization to
purchase another organization that has a less net profit. It is stated that the Mergers and acquisitions
tool are different from each other but the motive of both methods is to make higher competitive
advantages (Cevik Onar, et al., 2014). It is addressed that merger and acquisitions are an imperative
technique as it facilitates to the firm to operate their business at the large scale and make their unique
image in the marketplace (Thompson, et al., 2015). It is illustrated that the firm could gain their depth
knowledge which method will be more effective for the firm before implying it in the organization. It is
illustrated that depth evaluation of the tool could enable to get benefits. It is also examined a merger is
an effective tool for the organization to meet its organizational purpose (Garzella and Fiorentino,
2014).
Research significance
This research is effective for gaining understanding about merger and acquisition that will be
imperative in operating business process and make their career in the HRM. It could be effective for
increasing depth data towards different factors that might affect a merger as well as acquisitions. This
report will lead to comprehending strategies that might be practiced by the firm for eliminating issues
that will be occurred during implementation of merger and acquisition. This study will also be
imperative for the researcher as it supports to make the career of the researcher in the HRM
department wherein the merger and acquisition are possible.
Aim of research
Key aim of this investigation is to analyse and evaluate imperative issues in current banking business
firms that are related with strategic planning of acquisitions and mergers. In order to attain research
aim, research scholar would achieve certain objectives, which are described as below:
 To discover the conceptual understanding of the merger and acquisition
 To critically evaluates factors that affecting the merger and acquisition strategies in banking
strategies
 To recommended strategies for effectively implementing the merger and acquisition in the
banking industry
Research questions
 What are the factors that are affecting the strategic planning of the mergers and acquisitions
in contemporary banking business organizations?

MERGER AND ACQUISITION vi
Research hypothesis
 There is a positive relationship between factors affecting evaluation strategies Acquisitions
and mergers evaluation strategies and performance of the banking industry
 There is no relationship between factors affecting evaluation strategies Acquisitions and
mergers strategies and performance of the banking industry
Organizational structure
The organizational structure can be essential for comprehending issues of research study in depth.
The organizational structure could entail certain elements that were described as below:
Chapter 1: Introduction
Chapter 1 is introduction part of the organizational structure that is effective for gaining the
understanding about certain elements, which might be necessary for conducting any study named as
the background of research, question of research, aim and objectives of research, structure of
dissertation (Cartwright, and Cooper, 2014). In this, it is founded that aim and objective of research
might an essential section for investigation as it offers a path to the investigator to conduct their
investigator in directing and work on effectively. It is stated that the research question could also be
essential for gaining theoretical data with respect to research dilemma. Research questions can also
supports investigator to find a solution on the specified concern (Cavusgil, et al., 2014). The research
background support to comprehend what is the concern in depth. It could increase the awareness of
the investigator towards the research dilemma that would be effective in getting a positive result
towards the research matter. It could facilitates the investigator to know perspective of doing
business. It can be illustrated that the last section of the introduction could demonstrate the
organizational structure that supports to understand what we will be covered in the study. Thus, it can
be evaluated that the interdiction section is effective to get higher competitive advantages (Ansoff, et
al., 2018).
Chapter 2: a Literature review
Literature review section is the second section of study that is effective to comprehend the opinion as
well as a researcher of the different authors on the same topic. It could also be imperative to
comprehend how the literature review data is collected (Gamache, et al., 2015). For completing this
section, the literature review sector could consider different sources such as academic publication,
journal articles, authentic websites and other sources. Further, researcher has entailed such sources
and collects the data related to current research concern (Galpin, 2014). Data is gathered by entailing
reliable sources of the research result. It is evaluated that the investigator is deeply evaluated factors
that might be affected by outcome of research. Researcher should have proper understanding of
methods and ways that would be effective for attaining appropriate outcome with respect to research
concern. It is also examined that this section mandates to comprehend the different authors and
researcher and consider it in investigation for increasing reliability of firm (Lasserre, 2017).
Chapter 3: Research methodology
Third chapter of study is research methodology as this section facilitates the researcher to
comprehend different methods, which might be practiced in the study to pool feasible data about
research concern and obtain higher competitive benefits. These tools were known as the approaches

MERGER AND ACQUISITION vii
of research, strategies of research, data gathering tool, data analysis technique, research
philosophies, ethical consideration, and limitation of research (Nelson, 2018). These are essential
aspects that support in completing the task of research study by using existing sources. Research
methodology section will mandate to the investigator which strategies, methods, and tools could be
effective for the study. It also facilitates to know the depth evaluation of each tool that supports to
make a decision toward the research selection of investigation tool for running a business and
increase possibilities of getting a higher outcome. This section will also be imperative to operate the
overall business in one direction and get positive responses (Hryckiewicz, 2014).
Chapter 4: Data analysis and findings
In the data analysis and findings section, the research scholar would be capable to analyze pooled
data by considering different sources named as literature review and statistical data analysis tool. In
this investigation, a statistical data analysis tool is a prominent tool to assess numerical data of
investigation that will be collected by utilizing a survey through questionnaire method. Literature
review method would be used to analyze the non-factual data of the study and obtain the targeted aim
of investigation (Jaberidoost, et al., 2015). It is illustrated that the researcher has considered normally
both when an investigation has subjective nature. This study has needed factual information hence
both statistical and non-statistical data analysis tool will be practiced as it would be significant for the
functioning of business in one direction and meeting the aim of the study effectively. It can also be
illustrated that this section could present the data by graphs chart, and table and it could be done by
considering MS-excel software program. This software could support to save the cost and time of the
study and effective for getting a reliable outcome (Berger, et al., 2014).
Chapter 5: Conclusion and recommendation
Conclusion and recommendation is the last section of investigation as it is practiced to present overall
study in a concise form. This chapter can be essential for gaining knowledge of different methods,
which might be imperative to obtain higher competitive benefits (Kim, et al., 2015). It is examined that
the conclusion section concise overall report that will be effective to comprehend which it entails in
this study what was the outcome of doing this study. The recommendation section is also imperative
as it facilitates the researcher for obtaining research outcome. In the research, the recommendation
part of the study is vital for conducting an investigation in upcoming period (Grant, 2016).

MERGER AND ACQUISITION viii
Literature review
Introduction
Introduction chapter is imperative for pooling suitable data in the context of research matter. Current
paper is supportive to gain an understanding of the meaning and concept of the merger and
acquisition. This report is also effective for comprehending different strategies that might be used by
the banking industry to overcome the factor affecting merger and acquisition. IT could be effective for
working in the HRM department in the upcoming period and support to have a decision in favor of the
study issue. It is also essential for accomplishing task of organization.
Factors affecting merger and acquisition evaluation strategies to the banking industry
According to Zhang et al. (2015) organization has started to work hard for accomplishing their
specified work in the least time and cost. Each organization has made a basic goal for meeting the
aim of the study and increase profitability. The organization has also decided on the possible growth
that will be accomplished in the upcoming period. Ahammad (2016) stated that a firm could value the
internal as well as the external factor for increasing the possibilities of getting positive responses. The
internal development could be accomplished either by introducing procedure and innovate fresh
goods and services through increasing the ability to expand the business and enlarging the business
size to enhance the capability of business organization. It is evaluated that the firm could improve the
sale of the firm in the least time and cost. It is illustrated that the external growth could be
accomplished by the merger as well as acquisition.
In support of this, Molle (2017) illustrated that Merger and acquisition is an imperative way of
increasing external growth. In the recent international economy, acquisition and merger are being
increasingly practiced the world over as approach in accomplishing the larger asset base caused of
entering into new markets. It will also be effective for effectively entering into the new market and
getting higher competitive benefits. It could be effective in creating higher benefits by implying this
method in the business process.
In opposed to this, Ferreira (2014) addressed that Mergers and Acquisitions tool is a tool that assists
to the organization to emerge the business and support the company to conduct processing of
business and attain more competitive benefits. In addition, mergers and acquisitions are practiced to
meet sustainable benefits at the corporate level. It is evaluated M&A (Mergers and Acquisitions) is
being a chief source to alter the atmosphere. It could support the organization for competing with the
domestic as well as an internal level. Merger and acquisition are one of the vital methods as it assists
to improve the company structure and facilitates getting a higher competitive outcome.
Malik (2014) argued that the Merger and acquisition also emerge as one of the imperative technique
for the business which has a direct impact on the entire performance of business. Further, Indian
organizations are practicing Merger and acquisition as one of the growth strategies. In modern era of
business, this tool is imperative for an organisation to implement acquisition, a merger in order to
operate the business and get a reliable outcome. Consequently, these methods might be prominent
for operating the activity of business and making a reliable outcome.
In support of this, Jordao (2014) illustrated that the organization could decline the probability of
turnover from the working place. It is evaluated that Mergers, Acquisitions strategy could be effective

MERGER AND ACQUISITION ix
to make sound business development and higher business progress. It is stated that effectively entry
into a new market and make a higher profit for the long-term. It is effective for the successful
competition that the organization needed to improve their capabilities towards the implication of
merger and Acquisitions (M&A).
Angwin et al. (2016) stated that a merger could enhance efficiency and productivity of the firm. This
could be effective for increasing the shareholder value mere as it would lead to obtaining the higher
profitability of the organization. It is illustrated that the merger can be vital for accomplishment of
organizational activities. This is quite difficult for the organization to directly achieving targeted aim of
research matter. Moreover, Mergers, Acquisitions tool could be used as strategic concepts
incorporate to have decision effectively. Combination of business elements is an overall wonder. One
of the devices for solidification is mergers and acquisitions.
In support to this, Yan and Luo (2016) stated that the mergers and acquisitions in money related area
of India have all the earmarks of being driven by target of utilizing cooperative energies emerging out
of M&A process outcomes. Nonetheless, such supplementary changes in money related framework
might have some suggestions of exposed approach. It is obvious from different mergers and
amalgamations did by the Bank after its beginning in 1994. In any case, it is very clear by their activity
that it is a way of development for them. In oppose to this, Helfat and Martin (2015) illustrated that in
view of this announcement, we might want to display the applied structure for mergers and
acquisitions in India's unique situation. Systems for the merger, procurement, and amalgamation of
banking organizations are plainly characterized in segment 44(A) of the Banking Regulation Act 1949.
As per the Act, a financial organization should put a draft before its investors and the draft should be
endorsed by a goals gone by a greater part in number, speaking to 66% in estimation of the investors
of every one of the said organizations, present either face to face or as a substitute at a gathering
required the reason.
Paulet et al. (2015) stated that Vertical merger (VM) is a merger where one firm supplies its items to
the next. A vertical merger results in the solidification of firms that have genuine or potential purchaser
dealer connections. Level merger HM is the merger of at least two organizations working in a similar
field and in similar phases of procedure of achieving a similar ware or administration. It is also
founded that merger is could offer an best opportunity to the firm for giving an effective way to the
organization to leads their business function in one direction and sustain their position in the
marketplace for the long-term. Hence, an organization has tried to considered the merger as well as
acquisition in their business process.

MERGER AND ACQUISITION x
(Sources: Waemustafa and Sukri, 2015).
(Sources: Waemustafa and Sukri, 2015).
On the other side, Waemustafa and Sukri (2015) there are certain elements that are considered in
controlling of merger as well as acquisitions procedure. The communication is a factor that might
directly affect to management performance as it plays a vital role in dealing with others. Hence, this
factor might affect to result of merger and acquisitions. It could be effective for eliminating the stress
level from the organization. It is stated that communication is effective aspect as it facilitates to
decline skills of employees caused by mitigating the conflict and another issue.
Paulet et al. (2015) stated that merger is the process that encourages to the firm to operate the
business process in an effective way. The organization has used a prevention strategy for eliminating
stress by declining merger stress. It is evaluated that review of workforces that consists of modifying
the initial perception appraisal of the condition. It is examined that professional support could decline
the stress level. It is stated that merger activity could lead to comprehending the psychology of an
employee to identify the act essence.

MERGER AND ACQUISITION xi
In support of this, Koenig et al. (2014) illustrated that the favorable relation in the people combination
as well as fusion of cultures of organization. It is evaluated that the post mergers could support to
eliminate possibilities of mental health. The merger is an act that creates the stress in life of human
that could be eliminated by the acceptance of merger organizational culture for expanding the
business.
Goetz et al. (2016) argued that there are certain elements that affect to the merger process and
multiple organizational factors, which directly affect a merger as well as the merger process. It is
evaluated that the communication issue as well as their significance throughout the acquisition as well
as merger process. Moreover, the corporate culture their impact on the workforces if two organization
merge, the structural change as well as workforces reaction. Moreover, the stress issues could
directly impact on the merger and acquisition process in the environmental as well as higher stress
level. There are certain elements that might be considered by the firm named as corporate culture,
managing/strategy, change, stress, and communications. There are certain subsections named as
pre-merger and post-merger.
On the other side, Koenig et al. (2014) stated that three-stage model of the acquisition and mergers
which systematically that determined different human resources acts and problems. It is examined
that there are certain acts that are entailed in three stages. It is also illustrated that the department of
human resources, as well as leaders, are an imperative part of the business atmosphere with respect
to the obtain higher competitive advantages. It is also illustrated that the HR potential could bring
effectiveness in the dealing of the merger.
In oppose to this, Knechel and Salterio (2016) stated that organization could consider certain
elements named as swap ratio valuation, an announcement of swap ratio, fluctuation of share price,
and the announcement of merger decision, merger decision in the process of share due to getting
higher competitive benefits. It is also examined that the merger and acquisition could increase the
market share of organizational performance. It could increase the interest of shareholders towards
organizational performance. There are cetin elements that could be considered to improve the
financial; performance of the firm. It is also illustrated that mergers are generated by the organization
to increase the capability of a firm. There are different factors that might be considered by the
organization named as branch network, rural reach, better technology, customer base, and financial
ability. It is evaluated that controlling of the human resources as well as rural branches might be
challenging for the different culture of work.
Trichterborn et al. (2016) stated that the acquisition process is affected by different factors that could
affect the overall outcome. It is examined that the corporate approaches could be imperative for
avoiding uncertainty of the organization and support to get higher outcome. It is stated that knowledge
acquisition, as well as the subsequent organisational learning, were the effective desirable results by
considering the acquisition processes of the firm.
On the other side, Alessandri et al (2014) examined that corporate acquisitions could be affected to
the overall productivity of the research outcome. The acquisitions process could affect the overall
performance of the research outcome. From the above data, it is illustrated that the acquisition
process could positively impact on the performance of the organization. Moreover, post-acquisition

MERGER AND ACQUISITION xii
could affect to the codification. It is examined that the integration of two firms could effectively improve
the performance of the firm as well as it could also negatively affect the overall performance of the
firm. It is illustrated that there are two kind of approaches that are considered by the organization
named as corporate strategy as well as knowledge-based approach.
Zhu and Zhu (2016) stated that the international post-merger could affect the private sector of banks.
The organization could also manage the business process and support to make higher competitive
advantages. It is evaluated that effective integration management could consider certain elements
named as change management, communication, and organization. It is evaluated that the Integration
Manager could also be affected by the overall outcome of the research outcome. It is stated that the
integration manager could be affected by the overall outcome of the business process. It could affect
the firm for getting a positive result in favor of the research outcome.
In support of this, Sarala et al. (2016) illustrated that human resources practices could manage to the
cultural integration procedure in the post-acquisition as well as merger culture. It is also stated that
pervasiveness and growth of merger and acquisition could affect to the failure and success rate of the
firm. It is examined that human resources practices in the process of management as well as the
human resources practices to the merger and acquisition success.
According to Poulfelt et al. (2017), the key cause of company that enters into merger and acquisition
is to merge their control as well as, authority over the market. Furthermore, a merger is beneficial in
the context of synergy where, authority permits to increase the efficiency of the new entity as well as,
it creates the shape of return enhancement with cost savings. Moreover, economies of scale are
developed by sharing the resources as well as services. Union of two company leads in overall cost
reduction that gives competitive benefits. It could be appropriate as a consequence of increasing
purchasing power as well as, longer production runs. In support of this, Stiglitz and Rosengard (2015)
stated that risk can be declined by using innovative techniques to control financial uncertainty. A
company should consider technological development as well as, their dealing functions. Through
merger and acquisition of a small business with the unique technologies, a large corporation would
retain and grow the aggressive edge. The key benefit of a merger and acquisition is tax benefits.
Moreover, financial benefits may initiate mergers as well as, companies would highly develop the use
of tax-shields, use alternative tax advantageous, and gain monetary leverage.
On the other side, Erel et al. (2015) stated that the benefits and limitation of the merger as well as the
acquisition are relied on new short-term together with, long-term approaches with efforts. Since, there
are some factors like market environment, acquirement expenses, and shifts in business culture, and
transformations to financial power surrounding of capturing the business.
As per the view of Stiglitz and Rosengard (2015), merger and acquisition are disadvantageous in
terms of loss the proficient employees excepting employees in the position of leadership. This type of
loss unavoidably entails understanding about the business loss as well as, it would disturb the
exchange and would exclusively get replaced at a higher worth. Consequences of merger and
acquisition, workforces of the small merging company would need extensive re-competencies.
In contrast to this, Moeller and Brady (2014) stated that corporation would face different complexities
related to frictions as well as, an internal rivalry that can exist between employees of a united

MERGER AND ACQUISITION xiii
corporation. It is conjointly uncertainty to get surplus workforces in some division. Moreover, while two
companies are merging with similar activities may mean duplication as well as, over competency
within the corporation that may require retrenchments.
As per the view of Campbell and Schijven, (2016), merger and acquisition can increase the cost in the
case of transformation in right management as well as, the execution of merger with the acquisition
are delayed. There is uncertainty regarding approval of a merger by proper reassurance. In several
events, return of share of a corporation can cause the buyouts of other corporation was below the
return of sector as a whole. The merger and acquisition decline resilience. When rival creates a
revolution and presents market fundamental resources with high quality, in such case, the shift can be
tough. The transformation cost is highly distinct among specific merger value as well as, merchandise
the company’s value that could be high distinction.
Zopounidis, et al. (2015) recommended that merger and acquisition strategies are highly significant to
get the high advantageous out of merger and acquisition transaction. Moreover, sound strategic
planning could keep any merger from failure. By using the market analysis and market survey of
different mergers and acquisitions, it is evaluated that there are some regulations that could be
treated as strategies for effective merger or acquisition deal.
In support of this, Ahlstrom et al. (2014) stated that before entering into merger and acquisition deal,
the market performance of target company as well as, market position is required to be assessed
thoroughly. Hence, an optimal target corporation can be selected and a deal could be finalized at a
feasible rate. Recent market trend as well as, customer reaction towards the product of company is
significant for analyzing the growth potential of corporation. The integration procedure of corporations
can be initiated in time after finalizing the deal of merger and acquisition. Earlier closing the deal,
while negotiation procedure is on the time, then management of both corporations requires acting on
proper integration approach. It makes sure that no potential issue appears after closing the deal.
On the other hand, Junni, et al. (2015) illustrated that while company is intended for acquiring target
company plan and restricting the target company, then this plan can be implemented as well as,
declared within the acquisition time for eliminating risks. It is significant for considering the working
atmosphere as well as, culture of employees for Target Company during development of merger and
acquisition approaches. Hence, workforces of specified corporation do not experience left out as well
as, become depressed. It makes effort to keep informed the workforces, motivate feedback, honest
about what is ahead, as well as, ensures people to stay focus on making sure the best possible
initiate for recently expanded corporation.
In support of this, Obay (2014) addressed that high amount of local as well as, global investigation
about the concern of merger success and failure. There are high amount of merger and acquisition
deals fail in order to arrive the potential despites, the research objectives and methodologies are
consistent in findings. But, any particular components of merger and acquisition procedure have yet to
address as the critical failure or success factor that impact on performance of business. It is more
possibly that a range of concerns and components are accountable for M&A failure. There are
generally two broad concerns that are accountable for failure or success of M&A deals. These two
concerns are process issues and fit issues are those that evaluate the position of target and acquirer.

MERGER AND ACQUISITION xiv
In addition, acquirer has limited competency to persuade the fit concerns, but there are some factors
through which, control could be asserted. Moreover, process issues are those over through, acquirer
can exert high degree of control.
In contrast to this, Idris (2014) evaluated that merger and acquisition helps to enhance the profit and
productivity of corporation. At the same time, the objectives are to decline the costs of company. But,
merger and acquisition is not effective. The main objective is to focus on loses. The merger and
acquisition can be determined through number of components. Furthermore, those merger and
acquisition that could be resisted not only influenced whole employees in that company but also,
hazardous to credibility of firm. It is also addressed that merger and acquisition influences the
employees, shareholders and senior managers.
As per the view of Stiglitz and Rosengard (2015), while new resulting company is effective business
wise, then it would have need of less amount of individual to complete the same job. In this condition,
company will make efforts to rationalize the employees. When workforces possess adequate
competencies, then they may in fact, advantages from shifting towards greener territory. However, it is
addressed that workforces those who are jobless would not play effective role in organizational
development. This takes into consideration about elimination from organizational development. These
employees in turn will look towards the re-employment as well as, may satisfy with low rate packages
as compared to earlier one. It cannot lead for radical unemployment level; however, the employees
would have compromise for same. The mild undulation developed in local economy cannot be
avoided wholly.
Conclusion
With respect to the above interpretation, it can also be concluded that the merger and acquisition is an
effective method to operate the business process. It can be summarized that organization could
affected by different factor that could support to get higher competitive benefits. It can be concluded
that Mergers and Acquisitions offering a procedure to the firm for operating the business process and
meeting the aim of the organization. The organization could use different strategies to improve the
financial condition of the firm. It could offer an opportunity to expand the performance of business and
supports to get higher competitive advantages. It can be illustrated that organization could have
decision effectively by considering the merger and acquisition.

MERGER AND ACQUISITION xv
Research Design and Methodology
Rationality of research methodology
In this report, it supports the investigator to comprehend understanding with respect to tools,
techniques, and methods to complete the study in a systematic way. This is beneficial to pool
authentic facts and figures from various research participants and sources to accomplish the research
in targeted time duration (Wennberg and DeTienne, 2014). Research methodology referred to as the
methodological evaluation of various methods which is specifically executing in the research area.
This chapter consists of several factors such as research strategies, research philosophy, research
approach, data accumulation method, and research purpose. These tools are useful for collecting the
necessary data and information to achieve the aim and objectives of the research study. Along with
this, it also considers appropriate design, research type and data analysis in the context of research
concern with logical justification (Du and Sim, 2016).
Research Onion Framework
Research methodology section considers various approaches, strategies, and methods which is used
by investigator to accumulate relevant information for attaining targeted research aim and objectives
in a methodological manner. In such a way, the researcher has exercised the research onion
framework to gain detailed knowledge of the modes and tools of the research study. Onion framework
is developed by Saunders to generate the specific comprehension of investigation’s techniques.
Consequently, it is imperative in increasing the quality of research in an authentic and trustworthy way
(Moatti, et al., 2015).
(Source: Moatti, et al., 2015)
With respect to the above chart, it can be observed that the research onion framework has executed
by the researcher it provides useful material by considering precise research tools and modes. It also
assists in generating knowledge related to research techniques and tools in a systematic way
(Neuman and Robson, 2014). Research study could be performed by using onion framework in the
following manner:
Philosophies of study

MERGER AND ACQUISITION xvi
Philosophies of study could enhance understanding of the researcher about research matter.
Research philosophy selection could also affect the overall productivity of study. It could be supportive
for evaluating the tools in an effective matter. It is also evaluated that the research philosophy is an
imperative tool in the accomplishment of research task (Bridges, et al., 2014). It is addressed that the
selection of a suitable research method could identify the different techniques that will be
accomplished to meet the research matter. It is addressed that the selection of suitable methods
could enable to get positive responses. Further, there are different tools which might be practiced as
the research philosophies named as realism philosophy, interpretivism, positivist philosophy. It is
addressed that the realism research philosophy could be effective for evaluating the actual views and
insights feelings of the research candidates. Moreover, positivism research philosophy could support
to gain the conceptual towards the research. Apart from this, it is examined that interpretivism
research philosophy could enable the researcher for getting the depth data towards the research
issue (Hadjikhani, et al., 2014). Through this, the researcher could be capable to get the beliefs of the
research candidates in favor of the research matter and meet the specified aim and objectives of the
research matter on the available sources. It could also be effective for offering a path to the
investigator to accomplish their goal in the available sources (Taylor, et al., 2015).
Investigator has exercised positivism research philosophy as there is need of hypothesis for this
research study (Molinos-Senante and Sala-Garrido, 2015). Under the positivism research philosophy,
a required hypothesis is developed, accepted or rejected as per the need and analyzed according to
generalization. This philosophy also facilitates the research scholar to obtain an authentic conclusion
related to factors affecting acquisitions and mergers evaluation strategies in the banking industry. In
contrast to this, both research philosophies named interpretivism and realism is not practiced by the
investigator as it permits the research scholar to evaluate the opinion and perception of research
participants (Lubis, et al., 2016).
Research Approach
Research approaches permit the research scholar to illustrate the data in a comprehensible way.
Different types of research approaches are practiced in the dissertation which is named as deductive
and inductive research approach (Mackey and Gass, 2015). Both approaches enable the research
scholar to justify the execution of precise data collecting and assessing the tools for investigation.
Hence, it is prominent for research scholar for comprehending knowledge and practices related to the
tools of research. The inductive research approach is suitable as it gives a more appropriate result
with interpretivism research philosophy. On the other hand, the deductive research approach is
beneficial when it is used with the combination of positivism research philosophy ( Bresler and Stake,
2017).
Consequently, the deductive research approach is used by the investigator to generate hypothesis via
practicing various theories which are related to research issues (Smith, 2015). The deductive
research approach is more appropriate for this research concern as compared to inductive research
approach because the deductive approach enables the researcher to enhance objective knowledge
with respect to research issues (Jamshed, 2014). Hence, it assists the research scholar to enhance
the trustworthiness and authenticity of the research result. In addition, it is significant to generate

MERGER AND ACQUISITION xvii
effective hypothesis for answering the research questions. In opposed to this, the researcher has not
utilized the inductive research approach as hypotheses are required for evaluating the factors
affecting acquisitions and mergers evaluation strategies in the banking industry (Smith, 2015).
Research Design
Research scholar has selected mix research design for this investigation in order to accomplish the
research study in allocated time duration. Because mix research design entails unique features of
both quantitative and qualitative research design (McCusker and Gunaydin, 2015). Quantitative
research design is advantageous aspect as it assists in assessing the participant’s answers.
Whereas, a qualitative research design is profitable for assessing the association between digital
marketing and consumer behavior. This design also supports the research scholar to restrict the
limitations and barriers of research study that raised during research work. Because mix research
design assists in developing non-numerical concepts and also enhances practical understanding of
the factors affecting acquisitions and mergers evaluation strategies in the banking industry
(Humphries, 2017).
Research Strategy
Research scholar has exercised a literature review method for this investigation as it illustrates the
opinion of various authors related to the factors affecting acquisitions and mergers evaluation
strategies in the banking industry. Research strategy also aids the research scholar to determine each
concept related to the research problem. It is profitable for obtaining the research result (Vamsi
Krishna Jasti and Kodali, 2014). Furthermore, the literature review strategy allows the research
scholar to evaluate the factors affecting acquisitions and mergers evaluation strategies in the banking
industry (Büyüközkan and Güleryüz, 2016).
Survey through questionnaire method has utilized by the research scholar for collecting the perception
and beliefs of research candidates towards the factors affecting acquisitions and mergers evaluation
strategies in the banking industry. The researcher has used online monkey survey method as it is
profitable in collecting the data as well as also decreases the partiality from research work
(Mukhopadhyay and Gupta, 2014). Along with this, it also enhances the research quality by pooling
precise data. The online method is effective for collecting the information towards the research issue.
The online method could be quite costly as compared to the offline method. It could be imperative for
the accomplishment of the research task. The researcher has practiced the survey through
questionnaire tool and getting a positive result in the context of the current issue ( Hannula, et al.,
2014). It is stated that there are certain sources that are considered to conduct the study named the
internet, books, journals, and articles. It could be effective in collecting feasible information in the
context of the current issue. These methods also secure time as well as the cost to gathered the
conceptual as well as factual information in the context of research issue (Litosseliti, 2018).
Data Collection Method
This technique is a crucial strategy to lead the exploratory examination as it could be conceivable by
thinking about the scholastic instrument, writing audit, and other existing sources. It will prompt getting
a positive outcome with the support of the exploration problem (Riedl, et al., 2014). It is one of basic
device that could help with coming to at the exact resolution. It is the most basic device to viably

MERGER AND ACQUISITION xviii
played out the investigation and complete the point of the examination. For social occasion profundity
information of research, the analyst has utilized meeting instrument, which will encourage to get the
information with regards to the exploration matter. The specialist has been viewed as the
representatives, the executive's advisor, as it permits to get the exact information towards the
investigation matter. The profundity meeting could be a significant tedious yet viable for getting a
higher result (Irwin, and Springgay, 2017). It is inspected that the analyst has additionally utilized a
meeting technique in this advantageous area has been wanted to gather the information as it could
spare the season of research members. It is expressed that the scientist will send all guidance about
the survey by considering the email strategy for precise information towards the exploration (Xing, et
al., 2016). For leading the exploration, the writing audit technique has been additionally drilled by a
specialist to get theoretical information towards the examination matter (Wildemuth, 2016). This
instrument will likewise be basic when contrasted with different strategies. In the investigation of
research, accumulation of the data is basic for scientist for the exact just as solid data ( Brannen,
2017). For gathering the data, the investigator, for the most part, chooses either essential or auxiliary
technique. An examiner has picked the essential information gathering strategy, which incorporate
study, talk with technique, center gathering and numerous others. The technique that has been
chosen by the analyst incorporates the meeting from the various members (Azhdarzadeh, et al.,
2015). The data collection tool is completed by considering the interview method that is conducted on
46 employees which are from the 46 organization of Taiwan. It could be effective for getting the
different opinion of the research candidates towards research matter. The data could be collected on
an employee that will be effective for managing the research matter. It is examined that the
investigator could get higher competitive benefits by entailing effective data analysis tools. The
researcher has made a plan about different methods that will be implemented in the study for the
attainment of the research task (Rosskam, 2018). This enables them to address or recognize the
issues that are required to decide. Furthermore, the requirement for the inferred inquiry being focused
on the distinctive foreordained subjects of the exploration. In the examination, the investigator has
shaped the investigations addresses with keeping the base straightforwardly from the inquiries of
examination that are set out in the report and the reference section present in the inquiry question
(Tuck, and McKenzie, 2014). The idea of the inquiries is muddled just as the motivation behind these
inquiries is a semi-organized methodology. It has been discovered that impact on the abilities on the
questioners may make an effect on the aftereffects of a subjective examination. The questioner keeps
up the survey enough with the goal that they can guarantee the required dimension of the aptitudes in
meeting that has been shaped and utilized at the season of the meeting (Grossoehme, 2014). The
meeting that has been directed starts with the formal presentation and with the concise clarification of
the examination concern and tosses the comprehension of the setting wherein the idea of
responsibility can be explained. It is also stated that the questioner asks an open-finished inquiry from
partakes with the goal that they stay allowed to share their own observations just as suppositions on
the present encounters. The members are spurred to address the inquiry with no weight as this
encourages them to help the idea of research. Also, questioner guarantees that they deal with the
exactness in research because of which they have written by hand notes at the time of the meeting

MERGER AND ACQUISITION xix
(King and Mackey, 2016). In the system of information accumulation, the questioner is happy to
decide all the key topics and new knowledge from members. When the meeting has been appeared
by a specialist they break down information after this deliberate discussion in which the reactions are
acknowledged from members. The analyst proceeded until and except if there was the purpose of the
information immersion and there was no extent of any new information from the interviewee (Mayer,
et al., 2014). The meeting is occurred to get the last considerations from the members to decide the
open door for posing any extra inquiry. Before the length of the beginning the information gathering,
an examination is directed where the two pre-interviews are led with the intention to test the rule
identified with the meeting and strategies actualized by the questioner. Further, the analyst is left with
the chance to audit any kind of issues and constraints that are recognized so improvement should be
possible in the event that it is required (McDonough and McDonough, 2014). The specialist has
directed the meeting in the way like real meeting used to happen with the goal that they can gather
the solid outcomes that are basic to demonstrate the examination (Psacharopoulos, 2014).
Sampling Method
The sampling strategy can encourage the pioneers to choose a solid size of a test as it encourages
for leading the exploration and achieves the examination ponder. The examining technique could
involve two sorts of apparatuses that are considered by the scientist to get the data as it could be
referred to as likelihood just as a non-likelihood testing instrument. These instruments will enable the
specialist to getting the information towards the examination matter (Belias and Koustelios, 2014).
The key reason for the examination is to gather substantial and dependable information subsequently
the non-likelihood inspecting. This strategy could help to pioneers for picking proper example
measure by involving persuade examining system in which the examination applicants have been
chosen by involving certain components named as age, instruction, sex, involvement, and different
variables (Lawton, 2017). It will influence the general result. For the utilization of this strategy, the
discoveries of this examination will be skilled to get positive reactions towards research result. It is
expressed that the examining strategy could likewise permit to research possibility to get precise
information that is related to the examination matter (Tingley, et al., 2015). The data collection tool is
completed by considering an interview method that is conducted on 46 employees which are from the
46 organization of Taiwan. It could be effective for getting the different opinion of the research
candidates towards factors affecting acquisitions and mergers evaluation strategies in the banking
industry.
Data Analysis Method
The assessment of the information could be related to the assurance of the regular issues just as
discernment which could develop to accumulated information by involving the meeting instrument
(Dunning, 2014). It is additionally assessed that the information assessment apparatus will be viable
in assessing the gathered information and make good data. Further, the examiner has been utilizing
the topical information examination strategy as it encourages to assess the non-numerical information
of the investigation (Knights and McCabe, 2015). This technique encourages specialist to profoundly
assess the topics that will be considered in the examination and backing to make to finish the
investigation. It is assessed that information is assessed for in gathering the point of the study

MERGER AND ACQUISITION xx
(Lawrence and Braddon, 2017). It is shown that the information gathering strategy apparatus
additionally encourages to get exact information for the exploration matter. This strategy has been
empowered to understand the supposition just as perspectives on participants in contradict to inquire
about. The data has been founded on the other scientist contemplate. It could be viable for sparing
time just as the expense of the firm (Dutta, Malhotra, et al., 2016).
Data Validity and Reliability
For conducting this study, the researcher has used independent and dependent factor and meet the
aim of the study. In this, the merger and acquisition and their performance in the banking industry. It
could be effective for evaluating the accuracy of the research outcome and supports to get higher
competitive benefits. The validity tool is imperative for evaluating the data rationality which will be
imperative for meeting the aim of the study.
Research Limitations
The research limitation could influence the general result of the investigation. In this examination,
there are numerous reasons that may be influenced by in general profitability of research. It is
expressed that in the event that the meeting has an absence of meeting directing aptitudes, at that
point it could influence in general result of the study. It is shown that the example size couldn't be in
this manner it very well may be assessed that the analyst could decay the quantity of the members as
it depends on the abstract concern consequently the specialist will be fit to choose just top
administration individuals and get their reactions towards research issue (Graebner, et al., 2017). It is
additionally inspected that the predefined region for directing the investigation will confine the analyst
for getting a good outcome towards study. It is assessed that the speculation of information could
make an issue for the specialist to get a precise outcome about research problem (Eckles, et al.,
2014). Different research obstacles make trouble in achieving the exploration contemplate that is
depicted as below:
Time imperative
Research researcher has a brief span term for playing out the cross-sectional examination on the
grounds that the specialist needs to take classes and achieve just about 2-to 3 tasks alongside the
exploration think about. This factor likewise displays that exploration researcher possesses spent
more energy on pooling the information as for the examination ponder (Li, et al., 2016).
Store
Store requirement is a noteworthy research impediment that limits the analyst for leading the
examination contemplate. As the specialist has a place from the low-pay bunch family with the goal
that they don't have adequate cash for voyaging consumption in different regions of the nation.
Alongside this, it likewise limits the specialist to play out the online monkey study for getting the
supposition from at any rate a hundred research members with regards to the exploration difficulty
(Andriosopoulos and Yang, 2015).
Ethnocentrism
As the analyst does not have a place from a similar nation thus it could likewise be a noteworthy issue
for the examiner to get the react of residents of that country. Since a portion of the examination
hopefuls doesn't feel great with the outside individual for sharing their own data. Alongside this, some

MERGER AND ACQUISITION xxi
exploration members feel uncertain when the specialist demonstrates their impolite conduct or
uncultured practices (Ruggieri, et al., 2014).
Ethical Consideration
Under this examination, morals mean finishing every single undertaking of research in a moral way. It
is also founded that the investigator ought to pursue the rules of the college and keep up the security
of respondents. It likewise helps the analyst to lead the moral practices to meet the examination
targets methodologically (Rahman and Lambkin, 2015). The specialist has confronted diverse moral
boundaries like breaks of the copyright demonstration, literary theft, and dissemination of information
as for the auxiliary gathering of data. These issues could be eliminated by the investigator to offer
credit to the creators by giving references and in content (Vellas, 2016).
Apart from this, the scientist has rehearsed the particular dialects to translate the assembled data.
Thus, it is useful to maintain a strategic distance from the similitudes. The specialist has taken the
past arrangement from picked respondents so as to assemble essential data in regards to inquiring
about the issue. (Frankel and Forman, 2017). It helped the specialist to keep the unwavering quality of
statistical data points. To dodge the moral issues, the analyst has utilized auxiliary information from a
few assets like books, articles, sites, and diaries. These sources are drilled by a scientist in the setting
of references and in-content. These assets are referred to deliberately as it is advantageous to
dispense with the copyrighting issues. It could be additionally viable to maintain a strategic distance
from the literary theft and control of data. Moreover, the investigator has composed this examination
report in their very own dialects with proper in-messaging as it improves the nature of the research
result (Baesens, et al., 2016)
Survey through questionnaire
Please specify gender
A. Male
B. Female
Please specify your age
A. Under 23
B. 24-28
C. 29-33
D. More than 33
Please specify your experience
A. Less than 1 years of experience
B. 2-5 years of experience
C. 5-8 years of experience
D. More than 8 years
Do you agree that Merger and acquisition is an imperative way for increasing the external growth
A. Strongly agree
B. Agree
C. Neutral
D. Disagree

MERGER AND ACQUISITION xxii
E. Strongly disagree
In your opinion Mergers and Acquisitions (M&A) is being a major force in the changing atmosphere
A. Strongly agree
B. Agree
C. Neutral
D. Disagree
E. Strongly disagree
Do you think that Mergers and Acquisitions (M&A) could be used as the strategic plan in the
organization
A. Strongly agree
B. Agree
C. Neutral
D. Disagree
E. Strongly disagree
In your opinion, the successful competition in the global market could have relied on the abilities got in
the time as well as well-organized fashion by Merger as well as Acquisitions
A. Strongly agree
B. Agree
C. Neutral
D. Disagree
E. Strongly disagree
In your opinion, which method is more suitable for business performance?
A. Merger
B. Acquisition
C. Another method
Do you think that merger and acquisition are used to maximize shareholder value?
A. Yes
B. No
Which strategies of Merger and acquisition is used for operating the business?
A. Evaluate the company performance
B. A sound strategic planning
C. Determination of upcoming opportunities
D. Acquire target organization
Do you agree that merger and acquisition affect business performance?
A. Strongly agree
B. Agree
C. Neutral
D. Disagree
E. Strongly disagree
Could the Mergers and Acquisitions be affected by the overall performance of employees?

MERGER AND ACQUISITION xxiii
A. Yes
B. No
In your opinion, which factors affect more to merger and acquisition?
A. Government policies
B. Resilience in the economy
C. Liquidity in the corporate sector
D. Vigorous attitudes of business tycoons
E. All of the above

MERGER AND ACQUISITION xxiv
Findings/Results:
The data evaluation part is effective in evaluating data about research issue. Further, it is illustrated
that the investigator to deeply examine data named as statistical data evaluation method and
literature method (Ahern and Sosyura, 2014). The data analysis tool could aid the researcher to
increase the reliability of the research outcome. Moreover, it is illustrated that the statistical data
evaluation technique is practiced in evaluating the factual data that will assist to obtain higher
competitive advantages (Swaminathan, et al., 2014). It is illustrated that the theoretical data analysis
method could be imperative to critically evaluate the non-theoretical data and reach at the reliable
conclusion (Bonaime, et al., 2018). These methods will lead to increase the possibilities of success.
In this study, the survey through questionnaire method has been practiced by the researcher to
evaluate the data. This study is held on the 46 employees of 46 organizations as it will be imperative
in obatining responses of the research candidates and to accomplish the research aim. It is evaluated
that the investigator could use effective techniques to systematically meet purpose of the study (Kono,
2016).
Demographic questions
The demographic questions are effective to make the relationship with others. This factor could assist
to develop a transparent relationship between research participants and research candidates
(Cooper, et al., 2014). It could be imperative for making a reliable conclusion. In this section, the
researcher asked the research participants about their gender, age, and experience for gaining the
basic understanding of participants that will be effective for conducting the study in an effective
manner. It is illustrated that the obtained result is shown by the following table and graphs:
Table 1: Gender
Gender
Male
2
6
F
emale
2
0
Chart 1: Gender

MERGER AND ACQUISITION xxv
57%
43%
Gender
Male
Female
The above chart depicted that the researcher has selected both males as well as female to collect
their responses in favor of the research matter. In this, 43% of research candidates were female while
57% were male. The researcher has collected responses to both due to getting different opinion and
perception of candidates towards the research issue and complete aim of the study.
Table 2: Age
Age
Under 23 2
24-28 years 7
29-32 years 24
More than 33 13
Chart 2: Age
Under 23 24-28 years 29-32 years More than 33
0
5
10
15
20
25
30
Age

MERGER AND ACQUISITION xxvi
The above chart depicted that the organization has selected under 23 to more than 33 years old of to
conduct this study. The main reason for selecting this age group of people is that this group of people
are more interested to share their experience with others. Form the collected data, it is stated that the
24 out of 46 candidates were 29-32 years old while 13 out of 46 were more than 33 years old. It is
examined that the researcher has selected such groups of people to effectively conduct the study and
get higher competitive advantages.
Table 3: Experience
Experience
L
ess than 1
years of
experience 2
2
-5 years of
experience 24
6-9 years of
experience 18
M
ore than 10
years 2
Chart 3: Experience
Less than 1 years of
experience 2-5 years of
experience 6-9 years of
experience More than 10 years
2
24
18
2
Experience
The above chart, it is stated that the researcher has selected less than one years to more than 10
years of the experienced employee to share their opinion and views about merger and acquisition. In
this, 24 out of 46 employees have 2-5 years of experience in the same filed while 18 out of 46 were
having 6-9 years of experience. These people could share their experience in oppose to the
questionnaire.

MERGER AND ACQUISITION xxvii
Table 4: Merger and acquisition is an imperative way for increasing the external growth
In this questionnaire, the researcher asked the research participants to do the Merger and acquisition
is an imperative way for increasing the external growth and the collected result is shown by the
following chart and table:
Merger and acquisition is an imperative way
for increasing the external growth
Strongly Agree 24
Agree 10
Neutral 2
Disagree 6
Strongly Disagree 4
Chart 4: Merger and acquisition is an imperative way for increasing the external growth
Strongly Agree Agree Neutral Disagree Strongly
Disagree
0
5
10
15
20
25
30
Merger and acquisition is imperative way for
increasing the external growth
The above chart depicted that role of merger and acquisition in the growth. From this, it is founded
that the 34 out of 46 research candidates were believed that merger and acquisition is an imperative
way for increasing the external growth. It is also stated that 10 out of 46 disagreed with the same
statement while two were not agreed nor disagreed with the same. This, it examined the research
candidates could get a higher quality result by considering the research outcome.
Table 5: Mergers and Acquisitions (M&A) is being a major force in the changing atmosphere
In this questionnaire, the researcher asked the candidates that Mergers and Acquisitions (M&A) is
being a major force in the changing atmosphere and their collected responses were shown by the
following table and chart:
Mergers and Acquisitions (M&A)
is being a major force in the
changing atmosphere
Strongly Agree 18
Agree 12

MERGER AND ACQUISITION xxviii
Neutral 2
Disagree 9
Strongly Disagree 5
Chart 5: Mergers and Acquisitions (M&A) is being a major force in the changing atmosphere
Strongly Agree Agree Neutral Disagree Strongly
Disagree
0
2
4
6
8
10
12
14
16
18
20
Mergers and Acquisitions (M&A) is being major
force in the changing atmosphere
From the implementation of the statistical tool, it is founded that the 30 out of 46 research candidates
believed that Mergers and Acquisitions (M&A) is being a major force in the changing atmosphere
while only 14 out of 46 research candidates disagreed with this statement.
Table 6: Mergers and Acquisitions (M&A) could be used as the strategic plan in the
organization
In this questionnaire, the researchers asked the participants that mergers and Acquisitions (M&A)
could be used as the strategic plan in the organization and collect their different opinion and views as
it will be shown by the following table and chart:
Mergers and Acquisitions (M&A)
could be used as the strategic plan
in the organization
Strongly Agree 21
Agree 8
Neutral 0
Disagree 7
Strongly Disagree 10
Chart 6: Mergers and Acquisitions (M&A) could be used as the strategic plan in the
organization

MERGER AND ACQUISITION xxix
Strongly Agree
Agree
Neutral
Disagree
Strongly
Disagree
0 5 10 15 20 25
Mergers and Acquisitions (M&A) could be used
as the strategic plan in the organization
The above table depicted that the researcher has selected the 29 out of 46 research candidates who
believed that Mergers and Acquisitions (M&A) could be used as the strategic plan in the organization
while 17 out of 46 disagreed with this statement. It is founded that 1 out of 46 were not agreed nor
disagree with this statement.
Table 7: Successful competition in the global market could rely on the abilities got in the time
as well as well-organized fashion by Merger as well as Acquisitions
In this, the researcher asked that does the Successful competition in the global market could rely on
the abilities got in the time as well as well-organized fashion by Merger as well as Acquisitions and
their result is shown by the following table and graph:
Successful competition in the global
market could rely on the abilities got in the
time as well as well-organized fashion by
Merger as well as Acquisitions
Strongly Agree 18
Agree 12
Neutral 1
Disagree 8
Strongly Disagree 7
Chart 7: Successful competition in the global market could have relied on the abilities got in
the time as well as well-organized fashion by Merger as well as Acquisitions

MERGER AND ACQUISITION xxx
Strongly Agree
Agree
Neutral
Disagree
Strongly
Disagree
0 2 4 6 8 10 12 14 16 18 20
Successful competition in the global market
could be relied on the abilities got in the timely as
well as well-organized fashion by Merger as well
as Acquisitions
The above chart depicted that there are many people who are considered in this study to comprehend
the opinion and views of the research candidates towards the research matter. In this study, the 30
out of 46 research candidates agreed that Successful competition in the global market could have
relied on the abilities got in the time as well as well-organized fashion by Merger as well as
Acquisitions while 15 out of 46 were totally disagreed with this statement. It is also illustrated that the
organization could use the merger as well as an acquisition tool to get benefits at the global level.
Table 8: which method is more suitable for the business performance
In this, the researcher asked the research participants about methods that will be effective for
increasing the growth of the business in the least time such as acquisitions, merger, and another
method. The obtained result has been shown by the following table and chart:
which method is more
suitable for the business
performance
Merger 22
Acquisition 16
Another method 8
Chart 8: which method is more suitable for the business performance

MERGER AND ACQUISITION xxxi
Merger
Acquisition
Other method
0 5 10 15 20 25
which method is more suitable for the business
performance
From this, it is founded that 22 out of 46 sought that merger more suitable method for improving the
business performance while 16 out of 46 felt that acquisition is more effective. From the data, it is
founded that the merger is more effective as compared to others method.
Table 9: Merger and acquisition is used to maximize shareholder value
In this researcher asked participants that Merger and acquisition are used to maximize shareholder
value. The obtained result is shown by the following table and chart:
Merger and acquisition is used
to maximize shareholder value
Yes 37
No 9
Chart 9: Merger and acquisition is used to maximize shareholder value
80%
20%
Merger and acquisition is used to
maximize shareholder value
Yes
No

MERGER AND ACQUISITION xxxii
The above chart, it is depicted that 37 out of 46 were agreed that Merger and acquisition are used to
maximize shareholder value while 9 out of 46 disagreed with the same statement. It is evaluated that
merger and acquisition are mostly used by the firm to improve the value of a share in the least time.
Table 10: Strategies of Merger and acquisition is used for operating the business
In this questionnaire, the researcher asked the candidates that which Strategies of Merger and
acquisition is used for operating the business named Evaluate the company performance, sound
strategic planning, Determination of upcoming opportunities, and Acquire target organization. The
research candidate’s responses were shown by the following table and chart:
Strategies of Merger and
acquisition is used for operating
the business
Evaluate the company
performance 21
A sound strategic planning
8
Determination of upcoming
opportunities 8
Acquire target organization 9
Chart 10: Strategies of Merger and acquisition is used for operating the business
Evaluate the company
performance A sound strategic
planning Determination of
upcoming
opportunities
Acquire target
organization
21
8 8 9
Strategies of Merger and acquisition is
used for operating the business
The above chart depicted that there are many ways that might be used by a firm to improve its
performance. It is illustrated that 21 out of 46 research candidates believed that before having the
decision of merger and acquisition in the working place. It is also examined that 8 out of 46 believed
that sound strategic planning needed before implying the merger and acquisition.
Table 11: Merger and acquisition affect the business performance

MERGER AND ACQUISITION xxxiii
In this questionnaire, the research candidates asked the participants that do the Merger and
acquisition effect to the business performance and collect their reaction with respect to the same
concern which is shown by the following table:
Merger and acquisition affect
business performance
Strongly agree 24
Agree 12
Neutral 1
Disagree 5
Strongly disagree 4
Chart 11: Merger and acquisition affect the business performance
Strongly agree
Agree
Neutral
Disagree
Strongly
disagree
0 5 10 15 20 25 30
Merger and acquisition affect to the business
performance
The above chart depicted that 36 out of 46 believe that merger and acquisition affect business
performance while 9 out of 46 disagreed with the same statement. Thus, it is founded that the merger
and acquisition is an imperative tool of the firm because it facilitates the organization in obtaining a
reliable result in the context of the current matter.
Table 12: Mergers and Acquisitions could affect the overall performance of employees
In this questionnaire, the researcher asked candidates that Mergers and Acquisitions could be
affected the overall performance of employees and shows the obtained outcome by following table
and chart:
Mergers and Acquisitions could affect the overall
performance of employees
Yes 40
No 6
Chart 12: Mergers and Acquisitions could be affected by the overall performance of employees

MERGER AND ACQUISITION xxxiv
87%
13%
Mergers and Acquisitions could
affected to the overall performance
of employees
Yes
No
From the evaluation of the collected data, it is founded that 40 out of 46 research Mergers and
Acquisitions candidates believe that Mergers and Acquisitions could be affected to the overall
performance of employees while 6 out of 46 disagreed with the same statement. It is examined that
Mergers and Acquisitions offer a path to the firm to get positive responses.
Table 13: factors affect more to merger and acquisition
In this questionnaire, the investigator asked respondents about the factors that might affect to the
merger and acquisition in which many options are available named as government policies, resilience
in economy, liquidity in the corporate sector, and vigorous attitudes of business tycoons. The obtained
outcome is shown by the following table and chart:
Which factors affect more to merger and
acquisition
Government policies 6
Resilience in the economy 3
Liquidity in the corporate sector 5
Vigorous attitudes of business tycoons
4
All of the above 28

MERGER AND ACQUISITION xxxv
Chart 13: factors affect more to merger and acquisition
Government
policies Resilience in
economy Liquidity in the
corporate sector Vigorous
attitudes of
business tycoons
All of the above
0
5
10
15
20
25
30
Which factors affect more to merger and
acquisition
From the evaluation of collected data, it is stated that there is a certain factor that might be affected to
the merger and acquisition named as Government policies, Resilience in the economy, Liquidity in the
corporate sector, and Vigorous attitudes of business tycoons. It is founded that 28 out of 46 research
candidates believed that such factors could affect top the merger and acquisition. It is also addressed
that merger and acquisition could directly impact on the overall performance of the firm.

MERGER AND ACQUISITION xxxvi
Analysis and Discussion of Findings:
With respect to the collected data, it is founded that most of the research candidates believed that
Merger and acquisition is an imperative way for increasing the external growth. Most of the research
participants also believe that Mergers and Acquisitions (M&A) is being a major force in the changing
atmosphere. It is illustrated that most of the research candidates believed that Mergers and
Acquisitions (M&A) is being a major force in the changing atmosphere. It is also illustrated that most
of the candidates also believed that the successful competition in the global market could rely on the
abilities got in the time as well as well-organized fashion by Merger as well as Acquisitions. These
findings were supported by the view of Idris (2014) as it was illustrated that Company has expressed
to buckle down for achieving their predetermined work in the least time and cost. Every association
has made a fundamental objective for gathering the point of the examination and increment
gainfulness. The association has likewise chosen the conceivable development that will be cultivated
in the up and coming period. multiple organizational components that directly affect the merger and
acquisition process. It is evaluated that the communication issue and their significance tould affect the
overall matter. Moreover, it is evaluated that the corporate culture could directly affect organizational
performance. It is addressed that if two organization merge with each other then it could be effective
for the form to gain their understanding of factors that might be affected the overall outcome of the
study. A firm could esteem the inward just as an outer factor for expanding the conceivable outcomes
of getting positive reactions. The inside development could be cultivated either through the method of
presenting and building up the new items and administrations by expanding the capacity of extending
the business and augmenting the business size to improve the ability of the firm. It is assessed that
the firm could improve the closeout of the firm in the least time and cost. It is represented that the
outer development could be practiced by the merger just as obtaining. mergers and acquisitions might
be productive at times, the effect of mergers and acquisitions on different factions of the organization
may contrast. In the article underneath, subtleties of how the investors, representatives and the
administration individuals are influenced have been informed. Mergers and acquisitions are gone for
improving benefits and profitability of an organization. All the while, the goal is likewise to lessen the
costs of the firm. In any case, mergers and acquisitions are not constantly fruitful. Now and again, the
fundamental objective for which the procedure has occurred loses center.
From the analysis of the collected result, it is addressed that which method is more suitable for the
business performance and most of the candidates believed that merger is more effective as compared
to the different method. Most of the research candidates seek that merger and acquisition are used to
maximize shareholder value. Most of the research candidates believed that evaluation of merged
organization for getting positive responses.
These findings were supported by the opinion of, Campbell and Schijven, (2016) as it was illustrated
that Merger and acquisition is the basic route for expanding the outside development. In the ongoing
global economy, obtaining and merger are as a rule progressively rehearsed world over as
methodology in achieving the bigger resource base caused of going into new markets. It will likewise
be compelling for viable going into the new market and getting higher focused advantages. It could be
successful in making higher advantages by suggesting this strategy in the business procedure. The

MERGER AND ACQUISITION xxxvii
merger could increase the effectiveness and efficiency of the firm. It could be effective for increasing
the shareholder value mere as it would lead to obtaining the higher profitability of the organization. It
is illustrated that the merger could be imperative for the attainment of the organizational task. It is
quite difficult for the organization to directly accomplishing the aim of the research issue. It is stated
that Mergers and Acquisitions tool could be used as the strategic concepts in the corporate to have
decision effectively. Combination of business elements is an overall wonder. One of the devices for
solidification is mergers and acquisitions. The mission for development is a noteworthy main thrust
behind mergers and acquisitions.
With respect to the collected data, it is stated that most of the research candidates believe that merger
and acquisition affect business performance. Most of the research candidates also believe that
mergers and acquisitions could affect the overall performance of employees. It is stated that Mergers
and Acquisitions could affect the overall performance of employees. There are certain elements that
might be affected by the firm could use different tools and techniques for affecting merger and
acquisition named Government policies, Resilience in the economy, Liquidity in the corporate sector,
and Vigorous attitudes of business tycoons.
These findings were supported by the view of, Stiglitz and Rosengard (2015) as it was stated that
Merger and obtaining is additionally developed as the one of the basic procedure for the business that
effects to the general business execution. It is inspected that Indian associations are rehearsing
Merger and securing as one of the development systems. In the present period, it is basic for the firm
for inferring securing, merger to work the business to get the solid result. Hence, it is assessed that
these strategies could be basic for working the business movement and making a dependable result.
Mergers and Acquisitions instrument is a device that helps the association to raise the business and
backing to the firm for working the business procedure and get higher aggressive advantages. It is
likewise established that the mergers and acquisitions are drilled to meet maintainable advantages at
the corporate dimension. It is assessed Mergers and Acquisitions (M&A) is being the real power in the
evolving environment. It could support to the association for rivaling the residential just as inward
dimension. Merger and procurement are one of the crucial strategies as it helps to improve the
organizational structure and encourages to getting a higher focused result. salary overhaul and cost
decline are practically sure in examples of even compromise and can in like manner expect a vocation
in vertical coordination. Cash related Synergies start from lower financing costs. Colossal associations
generally approach a progressively broad and more affordable pool of advantages than little
associations. the organization could decline the probability of turnover from the working place. It is
evaluated that Mergers and Acquisitions could be effective for making healthy business expansion
and higher business growth. It is stated that effectively entry into a new market and make a higher
profit for the long-term. It is effective for the successful competition that the organization needed to
improve their capabilities towards the implication of merger and Acquisitions (M&A). One purpose
behind the third surge of M&As was that separating into unimportant associations engaged
associations to reduce danger and, thusly, increase their commitment point of confinement and lower
there before obligation cost of financing. mergers and acquisitions may be profitable now and again,
the impact of mergers and acquisitions on various groups of the association may differentiate. In the

MERGER AND ACQUISITION xxxviii
article underneath, nuances of how the speculators, delegates and the organization people are
impacted have been educated. Mergers and acquisitions are a way for improving the advantages and
productivity of an association.

MERGER AND ACQUISITION xxxix
Conclusion and recommendation
Conclusion
As per the interpretation, Merger and acquisition is an imperative way for increasing the external
growth. It can also be concluded that Mergers and Acquisitions (M&A) is being a major factor in the
changing atmosphere. It can also be illustrated that the successful competition in the global market
could rely on the abilities got in the time as well as well-organized fashion by Merger as well as
Acquisitions. From the interpretation, it can also be summarized that an organization could consider
both mergers as well as an acquisition for operating their business performance. It can also be
concluded that merger and acquisition are used to maximize shareholder value. It can also be
illustrated that there are certain methods that are practiced by the firm for operating their business
named as evaluate the company performance, sound strategic planning, determination of upcoming
opportunities, and acquire target organization. It can also be illustrated that Mergers and Acquisitions
could be affected by the overall performance of employees. It can also be concluded that there are
certain factors that might be affected to the firm at the time of implementing the merger and
acquisition for expanding their business named as government policies, resilience in economy,
liquidity in the corporate sector, and vigorous attitudes of business tycoons. It can also be addressed
that a company acquisition and merger could have profound effects on the growth of the organization.
But, it is also founded that acquisition could create risk for the organization caused by the transaction
and overall estimated work. It can be illustrated that organizations could face issues due to the merger
and acquisition transaction. It is illustrated that the merger and acquisition could directly affect the
overall productivity of the organization. It is illustrated that there are certain reasons that might be
affected by the overall outcome. It is stated that many of the firms have combined with each other for
increasing the growth of the firm and expand their business effectively. This method could increase
the probability of getting a higher outcome. It is examined that merger and acquisition could directly
affect the overall productivity of the firm. Many of the firms have merged with each other for making
higher profitability. It is also illustrated that there are many examples of the firm that motivates to
merge and expand business effectively named as dot-coms. The organization could also merge to
have the benefits of . As well as synergy by entailing the merger and acquisition. It is addressed that
synergies occur at the time two and more organization who have desired to expand their business
and get higher competitive benefits. It can also be concluded that some organization has made
different products but they also merge with each other due to getting higher competitive benefits. It
can also be concluded that the merger and acquisition could increase the earnings per share of the
firm in the least time and cost. It can also be concluded that the organizations also engage with the
merger and acquisition for dominating the sector that would also create the potential monopoly market
of the organization, which will also lead to getting higher competitive advantages. It can also be
concluded that organizations used merger and acquisition for the business could be effective for
getting positive responses. It can also be illustrated that the organizations use the merger and
acquisition for responding in the taxes as it could be implicit as compared to the explicit inspiration.
For example, it is illustrated that an organization could critically evaluate the situation of the firm
condition to obtain the benefits of the firm and getting a reliable result. This tool could facilitate the

MERGER AND ACQUISITION xl
organization to smoothly operate the business and obtain a reliable outcome. It is evaluated that tax
could be essential in getting a reliable outcome. It is also examined that merger could enablethe form
to move in the organization wherein they would be capable to have higher reliefs form the taxes. For
illustration, if an organization expand their business at the international level then they would need to
expand in the promotion but due to the merger and acquisition method, they would be needed to do
this act. An organization could take direct benefits for the long term. It can also be summaries that, an
organization could be confronted from different negative consequence that could be known as
integration risk, overpayment, and culture clash. It can also be summarized that the integrating the
business operations of two organizations proves to be a more typical task as compared to the seemed
in the approach. It can also be addressed that the merger of the company could decline the loyal
consumer of a merged organization that affected the overall outcome of the research outcome.
Recommendations
It can be recommended that the company should put together the perfect team. In the banking sector,
the company has different divisions such as sales and marketing, finance and operations. Hence,
there is a need to recruit a large number of experts that demonstrates these areas of expertise. As per
the unique situation, the company may require to provide external support in terms of investment
bankers, accountants, valuation experts as well as legal counsel.
It can be suggested that financial institution should focus on that an individual who makes up this
team could be competent to perform together. In an organization, every employee should have the
same goals and these professionals should think cohesively as well as, interact constantly. It should
be willing to perform their respective accountabilities within the restriction of their authority as
demonstrated by the CEO as well as, someone appointed by that an individual ( Stiglitz and
Rosengard, 2015)
It can be recommended that financial institution should develop the goals as well as, measure the
success. Banks should take into considerations about their objectives in order to boost the market
share. It should also seek to launch the new products and services as well as, intellectual property
under the corporate wing.
The company should try to break into contiguous and new markets. It can also make an effort for
eliminating the key market participants and to attain vertical integration. This strategy would certainly
support the company to define the business goals and creates judgment in the determining right
direction in terms of keeping organization from turning off track (Campbell and Schijven, 2016).
It can be suggested that the company should ensure that data could be shared efficiently and
securely. In current business times, it is hardly possible that the company will send over the team to a
physical place of another company in order to look at its book. In the digital world, the company has
avoided the requirement for that hassle. However, this digitization brings its own hazards, particularly
in way of security concerns. Due to this, the company can focus on implementing the virtual room in
order to support both parties look at business document of each other in an efficient and secure
manner (Idris, 2014).
Along with this, virtual data room performs as a neutral as well as, secure off-site location in which,
member of both teams could be free to collaborate effectively as well as, share the documents. Virtual

MERGER AND ACQUISITION xli
data room can also be supportive of the company to increase the transaction procedure of M&A. It
can significantly decline the cost of transportation in the case; the company will fly in the executive
team to locations of a physical data room.
It can be suggested that financial institution should focus on the best leadership. In case, the
company is planning to merge two separate entities, it means there would be compatibility as well as,
integration concerns. Along with this, there is no matter how the company performs hard to decline
the potential risk (Junni, et al. 2015).
It can be also suggested that each transition needs the availability of strong leadership, whose
members would be selected to define the tone as well as, set the precedent for direction as well as,
efficiency for the new entity. The financial institution should ask the right question in order to eliminate
the wrong leadership selection. These questions do the executive has strong people competencies?
And is the executive a clear and prompt thinker? Along with this, team leaders should be selected
from both sides of the deal (Zopounidis, et al. 2015).
These people would already comprehend the working as well as, the culture of their respective
corporations. Along with, the financial institution should comprehend their workforces on an individual
level and those benefits in hiring the new executives. These leaders would be competent to determine
the expectations as well as, creates the well-defined transition and working plan. It would help in
keeping the adaptability and flexibility as situations may continue to develop.
It can be recommended that the company should discuss with the potential partner’s customers or
existing clients together with, those clients that have left. It can be suggested that the company should
read the customer review as well as, learns about its future viability as per the views and opinions of
individuals. In order to effectively implement the merger and acquisition, the company can give
feedback with customers and in this way; their happiness would be an indication of how a corporation
and its leadership deals (Erel et al. 2015).
It can be suggested that an effective merger and acquisition should be related to buy-in from all
parties. It involves not only stockholders but also, employees and customers. All parties should
comprehend the vision related to merged corporations and see the upside. They should comprehend
the needs of merger and acquisition as well as, their best interest. Moreover, the company should
make communication before the implementation of a merger or acquisition. A high-quality
management team as well as, trustworthy consultants play a higher role in this. They also guide the
procedure and makes sure that communication within the corporation will remain honest and open.
The manager should develop confidence in workforces and between other party and themselves
(Sarala, et al. 2016).
It can be recommended that the company should execute the plan. The key factor in the post-
transition stage is the high quality of application of implementation policy. Once consensus regarding
the right strategy is reached, it is vital practices for reflecting the plan as personally as possible. Along
with this, poor communication may create confusion between the executors. Moreover, change
management as well as, the sound cost can estimate during the procedure. It can enable changes to
perform effectively (Zhu and Zhu, 2016)

MERGER AND ACQUISITION xlii
It can be suggested that the company should comprehend its weaknesses and strength in order to
assess its viability regarding potential M&A. There are big corporations that have a larger balance
sheet and little debt that makes an attractive partner with respect to capital. There are also smaller
corporations with nimble management that may be eyed for initiative ability. Along with this, the
company should identify the excessive debt and questionable employees into the decision-making
process (Sarala, et al. 2016).
It can be recommended that the company should be a strategic fit before making merger and
acquisition decision. Company deals in the same sector should have some degree of alignment with
respect to competitive strategy, leadership style, organizational culture, and competitive situation.
Higher overlap of these components between financial institutions may develop a more favorable
atmosphere for merging the two separate corporations into a single entity (Sarala, et al. 2016).

MERGER AND ACQUISITION xliii
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