Resumen

ZIN, Roque. Motivation for mergers in small companies: the managers’ perspective. Rev. Portuguesa e Brasileira de Gestão [online]. 2014, vol.13, n.2, pp.16-27. ISSN 1645-4464.

This paper investigated the merger of five companies with the following characteristics: small, privately held, belonging to the same industrial segment with similar products and markets. The goal is to understand the reasons behind setting up a new company. Based on the theory a questionnaire with Likert type scale of five points was developed and applied to the executives who made the decision and participated in the process. The results were analyzed by nonparametric statistics and show that the main reasons were the expansion of market power and obtaining additional resources. Aiming for scale economies and corporate benefits were not confirmed. This study contributes to understanding mergers and acquisitions processes by showing that in smaller companies the process takes place for reasons similar to large corporations, and it also contributed to finding out executives’ opinion on their expectations for the new company.

Palabras clave : Mergers and Acquisitions; Small Companies; Executives; Managers.

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