Introducing Stakeholder-Based Frameworks for Post-merger Integration （PMI） Success  

作　　者：Emil Martirosyan Teimuraz Vashakmadze 

机构地区：[1]Russian Presidential Academy of National Economy and Public Administration, Moscow, Russia

出　　处：《Journal of Modern Accounting and Auditing》2013年第10期1376-1381,共6页现代会计与审计（英文版）

摘　　要：The importance of stakeholder relationship management for successful integration in post-merger management is not doubted. The establishment of a new powerful trend in investments produces strategic shifts in strategic management. Shareholder wealth maximization way of thinking is changing to stakeholder wealth maximization where a company＇s value management system is based not only on economic profit maximization, but also on environmental, social, and governance （ESG） maximization. There is especially a high need for a management system that can be used by mergers and acquisitions （M＆A） practitioners during integration process. There is a critical need for metrics which can trace the interests of all stakeholders, because to achieve success in integration, it is no longer acceptable for management to focus solely on the needs of one or two stakeholder groups. In this article, the authors have introduced two frameworks： sun cube and stakeholder relationship matrix. These tools can be useful in mergers and acquisitions （M＆A） process for conducting a stakeholder analysis.

关 键 词：STAKEHOLDERS mergers and acquisitions （M＆A） post-merger integration （PMI） environmental social and governance （ESG） 

分 类 号：F275[经济管理—企业管理] TU375.4[经济管理—国民经济]