Failure or Fortune? A Historical Analysis of Family Firm Evolution During the Merger Process

Charalambous, Elenia

Abstract

Despite a surplus of research examining mergers and acquisitions (M&A), a critical gap remains in understanding how applying a retrospective lens to this field explains how this process evolves over time. This research therefore aims to bridge business history and M&A process studies, by examining how family firms in the twentieth century evolve over time, applying a widely used process framework to explore how these firms navigate the strategic process of an M&A. Using case studies such as Unilever (1929), Cadbury-Schweppes (1969) and Rowntree-Mackintosh (1969), the findings revealed that these factors change pre-existing three phase framework, introducing an antecedent phase, or ‘pre-pre-merger’ phase. This research highlights the value of employing historical methods such as archival research and narrative analysis in understanding how these change events influence the long-term strategies of family firms, emphasising the importance of engaging with one’s history when navigating mergers.

Primary Track

Management and Business History

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Failure or Fortune? A Historical Analysis of Family Firm Evolution During the Merger Process

Abstract

Primary Track