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Abstract

Purpose: This study aims to evaluate the costs and benefits of mergers and acquisitions (M&A) in improving company efficiency and performance. The research focuses on financial and non-financial dimensions, including operational synergies, employee engagement, and stakeholder relations, while addressing the influence of environmental, social, and governance (ESG) considerations and technological advancements.


Research Design and Methodology: This research adopts a qualitative systematic literature review (SLR) approach, synthesizing findings from peer-reviewed studies published in prominent academic journals. The study evaluates existing literature on M&A performance by identifying recurring themes related to operational efficiency, financial performance, cultural integration, and ESG impacts. This method enables a comprehensive analysis of the factors that affect M&A success, particularly in emerging markets such as Indonesia.


Findings and Discussion: The study reveals that effective integration strategies are crucial for achieving operational synergies, reducing costs, and enhancing productivity. While M&A transactions can lead to economies of scale and market expansion, they also present challenges such as employee turnover, cultural conflicts, and increased operational expenses. ESG policies significantly enhance long-term resilience and stakeholder trust; however, regulatory limitations and resource constraints in emerging markets hinder their effective implementation. The findings highlight the importance of adaptive management practices and cross-functional synergy teams in ensuring successful post-merger integration.


Implications: The study highlights the importance of comprehensive planning, stakeholder engagement, and ESG-driven strategies in M&A processes to optimize both financial and non-financial benefits. The results provide valuable insights for managers, policymakers, and researchers in developing frameworks for sustainable M&A practices that enhance organizational resilience and competitiveness.

Keywords

merger acquisition operational synergies financial performance esg post-merger integration

Article Details

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This work is licensed under a Creative Commons Attribution 4.0 International License.

How to Cite
Ermawati, Y., Labo, I. A., Pontoh, S., ⁠Rahmi, ⁠Rahmi, & Tahir, A. (2025). Costs and Benefits of Mergers and Acquisitions in Improving Company Efficiency and Performance. Atestasi : Jurnal Ilmiah Akuntansi, 8(2), 354–368. https://doi.org/10.57178/atestasi.v8i2.1625
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