Table 1

Questionnaire items

ConstructMeasures of constructFactor loading
Propensity towards M&A, α = 0.85TMT is continuously and systematically looking for potential acquisition targets – potential acquisition targets are rather identified by chance than by systematic exploration of opportunities0.88
 Strategically motivated vertical and horizontal M&A activities are a central part of our growth strategy – M&A activities do not play an important role in our growth strategy0.91
 TMT is willing to engage in riskier M&A projects – TMT is only willing to engage in low risk M&A projects0.73
 TMT tries to specifically build up process knowledge concerning M&A transactions – TMT does not specifically try to develop M&A competencies0.77

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