Volltext-Downloads (blau) und Frontdoor-Views (grau)

Executive departure following acquisitions in Germany : an empirical analysis of its antecedents and consequences

  • In this paper we analyze the relationship between executive departure in acquired companies and pre- as well as post-acquisition performance. Based on corporate control theory and human capital theory we derive hypotheses regarding this relationship and empirically test them using a sample of 44 German companies which were acquired between 1996 and 2004. The results of the study show that executive departure after an acquisition indeed constitutes a severe loss of human capital for a company, thus having a negative effect on post-acquisition performance. However, we could find no clear results to explain for a relationship between pre-acquisition success and executive departure.

Export metadata

Additional Services

Search Google Scholar


Document Type:Working Paper
Author:Torsten WulfORCiD, Stephan Stubner
Chairs and Professorships:Chair of Strategic Management and Digital Entrepreneurship
Full text/ URN:urn:nbn:de:0217-hhlap840
Parent Title (English):HHL-Arbeitspapier
Series (Serial Number):HHL-Arbeitspapier / HHL Working paper (84)
Place of publication:Leipzig
Publisher:HHL Leipzig Graduate School of Management
Year of Completion:2008
Page Number:22, I-XVII
Licence (German):License LogoUrheberrechtlich gesch├╝tzt