How to improve acquisition performance: The role of a dedicated M&A function, M&A learning process, and M&A capability
研究发现专职并购部门能提升并购绩效和学习过程，而并购学习过程通过构建并购能力间接促进整体并购绩效，基于德国企业调查数据。
How to improve the performance of mergers & acquisitions ( M&A ) continues to be a confounding issue. We show that a dedicated M&A function is a new phenomenon that is positively related to a firm's M&A performance and M&A learning process. Moreover, we find that an M&A learning process (involving articulation, codification, sharing, and internalization) helps build up an M&A capability, which in turn is positively related to a firm's overall M&A performance. We use survey data from a sample drawn from the M&A activities of G erman firms to test our arguments. Ltd . Copyright © 2015 John Wiley & Sons, Ltd.