New Books In Economics

Today I talked to Mark L. Sirower about his book (co-authored with Jeff Weirens) The Synergy Solution: How Companies Win the Mergers and Acquisitions Game (HBP, 2022). First impressions really do matter, and the M&A deals that receive a positive reaction on Announcement Day tend to outperform, over time, those deals where due diligence wasn’t practiced up front. Indeed, as this episode’s guest, Mark Sirower, notes, in two-thirds of cases a negative initial reception is a sign that the deal will never gain momentum. What leads to success? Among the key elements is focusing on the employee experience. Smart companies get “ahead of the pain” by acknowledging that workers have moved from the highest rung of Maslow’s Hierarchy of Needs (self-realization) to fearing for their material well-being, their security, i.e., the lowest, most basic rung of the ladder. In short, at a time of vast, globalized M&A deal-making, EQ has never been more important as companies navigate the emotional earthquake most employees are g