Brain drain: why top management bolts after M&As

摘要

In an article recently published in Journal of Business Strategy, I outlined preliminary findings of a ten-year research initiative to examine turnover patterns in mergers and acquisitions (M&As) (Krug and Shill, 2008). This initiative involved an analysis ofrnturnover patterns among more than 23,000 executives in 1,019 firms over a 17-year period. It showed that M&As lead to abnormally high turnover rates among target company executives for ten or more years after an acquisition (see Figure 1).