Mergers and acquisitions: does performance depend on managerial ability?

Journal of Innovation and Entrepreneurship

A Systems View Across Time and Space

Table 1 Frequency of M&As from 2010 to 2017

Year	N	Percent	Cumulative percentage
2010	3	0.0073	0.0073
2011	43	0.1044	0.1117
2012	36	0.0874	0.1991
2013	69	0.1675	0.3666
2014	55	0.1335	0.5001
2015	51	0.1238	0.6239
2016	65	0.1577	0.7816
2017	90	0.2184	1.0000
Total	412	1.0000

Data processed from the M&A announcement of the KPPU website (https://kppu.go.id/pemberitahuan-merger-year/). The M&A in 2018, 2019, and 2020 are 74, 120, and 195, respectively. The number of M&A transactions greatly increased in 2020 when the economy was down from the COVID-19 pandemic. This indicates that M&A action is a desirable strategic decision for companies to overcome crises and maintain their sustainable development