Samenvatting

In this study we test if successor’s timing of the acquisition and his actions account for better firm performance. We surveyed 500 Dutch SME successors two to six years after their acquisition. With ANOVA we tested successor’s timing (declining, average and increasing economical growth) and actions taken (organizational change, innovation, extending markets, no change). All tested actions improve post transfer performance compared to no action taken. Firms acquired in declining economical conditions perform best. No interaction effects are found between timing and actions suggesting that actions are beneficial to performance in any macro economical condition.