Rentabilidade e Criação de Valor em F&A: Uma Revisão Sistemática e Agenda para Pesquisas Futuras

Abstract

This research aimed to understand the field of study of mergers and acquisitions that deal with the creation of value and profitability, through a systematic review of the main existing scientific productions on the subject. Empirically, it seeks to identify the main discussions and main findings, in addition to identifying the main existing gaps. To achieve the proposed objectives, a systematic review of the studies indexed in the Web of Science® database was carried out. The sample involved 30 articles registered between 1972 and 2021. The results indicated 5 analytical categories: Value creation/destruction; international M&A; Technology; Experience/Efficiency; and Costs/Risks. Among the periodicals surveyed, there is a predominance of the areas of corporate finance, business, management and economics. The most influential countries in the field are the United States with 57 published works, followed by the United Kingdom with 29, China with 26, Germany with 11, South Korea with 10 and Spain with 10. Brazil occupies the 14th position with 3 publications. In summary, it is clear that mergers and acquisitions are being used more and more as a strategy for entering new markets, gaining synergy, facilitating the portfolio, diversification, access to technological assets and tax reduction.