The Notion of Fit in Merger and Acquisition Research

The construct of fit takes one of the key positions among research topics in M&A research. Simultaneously, and relatedly, it constitutes an umbrella construct. This chapter aims to increase clarity regarding the notion of fit. The construct of fit spans different types, mainly relating to strategy, organization, and culture, and each type contains different subcategories. In turn, these are often applied and measured in different ways. Importantly, while some of the fit constructs are shared with other streams in broader business research, their connotations have evolved in different directions, with consequences for what is captured in the use of each construct. From an umbrella construct perspective, this constitutes a richness in research as long as these differences can be highlighted and the strength of each construct is emphasized. This chapter aims to achieve this by increasing clarity regarding the fit construct.

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