THE IMPORTANCE OF INVESTMENT MOTIVES AND FINANCIAL STRATEGIES IN MERGER AND ACQUISITION (M&A) PROCESSES IN TRANSITION COUNTRIES WITH REFERENCE TO THE REGULATORY FRAMEWORK – A MULTIDISCIPLINARY ANALYSIS

Branka Laličić; Jelena  Vapa Tankosić; Jovana Gardašević

doi:10.5937/ptp2503073L

Authors

Branka Laličić University Business Academy in Novi Sad, Faculty of Economics and Engineering Management, Novi Sad, Serbia https://orcid.org/0009-0001-4988-9061
Jelena Vapa Tankosić University Business Academy in Novi Sad, Faculty of Economics and Engineering Management, Novi Sad, Serbia https://orcid.org/0000-0001-8062-1154
Jovana Gardašević University Business Academy in Novi Sad, Faculty of Economics and Engineering Management, Novi Sad, Serbia https://orcid.org/0000-0002-3239-2083

DOI:

https://doi.org/10.5937/ptp2503073L

Keywords:

mergers and acquisitions (M&A), transition countries, M&A investment motives, financial strategies, regulatory factor, institutional factor, risk management

Abstract

Mergers and acquisitions (M&A) are among the key strategies for the growth and development of companies, particularly in transition countries, where they significantly contribute to economic growth. This is especially relevant in the period following the crisis of M&A transactions caused by the COVID-19 pandemic and the military conflict in Ukraine. Therefore, the aim of this research is to identify the key investment motives, taking into account financial strategies and risks, with reference to the institutional framework in transition countries. By applying the Systematic Literature Review (SLR) method and a multidisciplinary analysis of the factors influencing M&A activities in these economies, the research seeks to contribute to a better understanding of the key drivers of these processes and to provide relevant implications for company managers and policymakers. The findings point to three dominant motives for M&A in transition countries. They expand the knowledge of M&A motives in transition economies and highlight the need for further research on this topic, given the complexity of the market and its turbulent dynamics, as evident also in the sphere of innovative technologies.

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