Negotiation strategies and offers perceptions of mergers and acquisitions advisors

This thesis sought to identify mergers and acquisitions advisors’ perceptions of their own negotiation strategies in a typical negotiation. Additionally, the thesis examined the potential association between the first offer and a negotiator’s perception of his or her own negotiation strategy. This...

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Main Author: Paavola, Akseli
Other Authors: Humanistinen tiedekunta, Faculty of Humanities, Viestintätieteiden laitos, Department of Communication, University of Jyväskylä, Jyväskylän yliopisto
Format: Master's thesis
Language:eng
Published: 2014
Subjects:
Online Access: https://jyx.jyu.fi/handle/123456789/42942
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author Paavola, Akseli
author2 Humanistinen tiedekunta Faculty of Humanities Viestintätieteiden laitos Department of Communication University of Jyväskylä Jyväskylän yliopisto
author_facet Paavola, Akseli Humanistinen tiedekunta Faculty of Humanities Viestintätieteiden laitos Department of Communication University of Jyväskylä Jyväskylän yliopisto Paavola, Akseli Humanistinen tiedekunta Faculty of Humanities Viestintätieteiden laitos Department of Communication University of Jyväskylä Jyväskylän yliopisto
author_sort Paavola, Akseli
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description This thesis sought to identify mergers and acquisitions advisors’ perceptions of their own negotiation strategies in a typical negotiation. Additionally, the thesis examined the potential association between the first offer and a negotiator’s perception of his or her own negotiation strategy. This was researched empirically by presenting the negotiators two different first offer negotiation scenarios. In the first scenario, a buyer presented a first offer that was higher than a negotiator’s reservation value. In the second scenario, a buyer presented a first offer that was lower than a negotiator’s reservation value. The theoretical framework of the thesis was based on the negotiation analytic approach that was theoretically extended to the context of first offers and distributive and integrative negotiation strategies. Additionally, a quantitative and an expert based approach of negotiation research was used. The survey questionnaire, which measured the negotiators’ perceptions of integrative and distributive negotiation strategies and first offers, was created with a theory driven approach. Therefore, the survey questionnaires of previous research, such as the Dutch test, BPA II and five‐factor model was used as an example when this thesis’ questionnaire was created. The research data was gathered from a population of 300 professional advisors of mergers and acquisitions. The cross‐cultural sample of respondents comprised of 30 advisors. The responses were received from Europe, Americas and Asia‐Pacific. The data was analyzed by means of descriptive statistics, principal component analysis, reliability analysis, normality test and a paired samples t‐test. In line with the theoretic framework of the thesis and previous research results, this research suggests that a negotiator’s perception of his or her own negotiation strategy, in a typical negotiation, is more integrative than distributive. However, in terms of counteroffer strategies the thesis resulted in a contradictory descriptive finding. In both high and low offer scenarios, the majority of respondents’ perceived distributive strategy as their preferred strategy. A key finding of the thesis was that a first monetary offer in a negotiation was associated with a negotiator’s perception of his or her own negotiation strategy. This thesis concluded that a negotiator should use more integrative than distributive negotiation strategy. This strategy consist of behavior, which directs a negotiation towards a problem‐solving practice, where information sharing and trust is emphasized. In order to achieve this type of negotiation process, the negotiator should always make the first offer, for example, before the letter of intent phase. However, the negotiator should carefully analyze the potential reference values of the negotiating parties, create alternatives and evaluate consequences, in order to make trade‐offs. The alternatives could comprise of creative earn‐out models, vendors’ notes and third party negotiation models. However, the negotiator should acknowledge the high probability that an integrative first offer is countered with a distributive offer and communication strategy. Concerning negotiation goals, the negotiator should have a high level of aspiration, which in this context is the goal of high merger premium.
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Additionally, the thesis examined the potential association between the\r\nfirst offer and a negotiator\u2019s perception of his or her own negotiation strategy. This was researched\r\nempirically by presenting the negotiators two different first offer negotiation scenarios. In the first scenario,\r\na buyer presented a first offer that was higher than a negotiator\u2019s reservation value. In the second scenario,\r\na buyer presented a first offer that was lower than a negotiator\u2019s reservation value.\r\nThe theoretical framework of the thesis was based on the negotiation analytic approach that was\r\ntheoretically extended to the context of first offers and distributive and integrative negotiation strategies.\r\nAdditionally, a quantitative and an expert based approach of negotiation research was used. The survey\r\nquestionnaire, which measured the negotiators\u2019 perceptions of integrative and distributive negotiation\r\nstrategies and first offers, was created with a theory driven approach. Therefore, the survey questionnaires\r\nof previous research, such as the Dutch test, BPA II and five\u2010factor model was used as an example when this\r\nthesis\u2019 questionnaire was created. The research data was gathered from a population of 300 professional\r\nadvisors of mergers and acquisitions. The cross\u2010cultural sample of respondents comprised of 30 advisors.\r\nThe responses were received from Europe, Americas and Asia\u2010Pacific. 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A key finding of the thesis was that a first monetary offer in a\r\nnegotiation was associated with a negotiator\u2019s perception of his or her own negotiation strategy.\r\nThis thesis concluded that a negotiator should use more integrative than distributive negotiation strategy.\r\nThis strategy consist of behavior, which directs a negotiation towards a problem\u2010solving practice, where\r\ninformation sharing and trust is emphasized. In order to achieve this type of negotiation process, the\r\nnegotiator should always make the first offer, for example, before the letter of intent phase. However, the\r\nnegotiator should carefully analyze the potential reference values of the negotiating parties, create\r\nalternatives and evaluate consequences, in order to make trade\u2010offs. The alternatives could comprise of\r\ncreative earn\u2010out models, vendors\u2019 notes and third party negotiation models. 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spellingShingle Paavola, Akseli Negotiation strategies and offers : perceptions of mergers and acquisitions advisors distributive integrative mergers and acquisitions negotiation offers perceptions strategy Puheviestintä Speech Communication 3132 yrityskaupat neuvottelut tarjoukset strategia
title Negotiation strategies and offers : perceptions of mergers and acquisitions advisors
title_full Negotiation strategies and offers : perceptions of mergers and acquisitions advisors
title_fullStr Negotiation strategies and offers : perceptions of mergers and acquisitions advisors Negotiation strategies and offers : perceptions of mergers and acquisitions advisors
title_full_unstemmed Negotiation strategies and offers : perceptions of mergers and acquisitions advisors Negotiation strategies and offers : perceptions of mergers and acquisitions advisors
title_short Negotiation strategies and offers
title_sort negotiation strategies and offers perceptions of mergers and acquisitions advisors
title_sub perceptions of mergers and acquisitions advisors
title_txtP Negotiation strategies and offers : perceptions of mergers and acquisitions advisors
topic distributive integrative mergers and acquisitions negotiation offers perceptions strategy Puheviestintä Speech Communication 3132 yrityskaupat neuvottelut tarjoukset strategia
topic_facet 3132 Puheviestintä Speech Communication distributive integrative mergers and acquisitions negotiation neuvottelut offers perceptions strategia strategy tarjoukset yrityskaupat
url https://jyx.jyu.fi/handle/123456789/42942 http://www.urn.fi/URN:NBN:fi:jyu-201402121226
work_keys_str_mv AT paavolaakseli negotiationstrategiesandoffersperceptionsofmergersandacquisitionsadvisors