The importance of investment motives and financial strategies in merger and acquisition (M&A) processes in transition countries with reference to the regulatory framework: A multidisciplinary analysis

Mergers and acquisitions (M&A) are among the key strategies for the growth and development of companies, particularly in transition countries, where they significantly contribute to economic growth. This is especially relevant in the period following the crisis of M&A transactions caused by the COVID-19 pandemic and the military conflict in Ukraine. Therefore, the aim of this research is to identify the key investment motives, taking into account financial strategies and risks, with reference to the institutional framework in transition countries. By applying the Systematic Literature Review (SLR) method and a multidisciplinary analysis of the factors influencing M&A activities in these economies, the research seeks to contribute to a better understanding of the key drivers of these processes and to provide relevant implications for company managers and policymakers. The findings point to three dominant motives for M&A in transition countries. They expand the knowledge of M&A motives in transition economies and highlight the need for further research on this topic, given the complexity of the market and its turbulent dynamics, as evident also in the sphere of innovative technologies.