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عنوان فارسی مقاله:
M & A و نوآوری: نقش ادغام و تفاوت های فرهنگی: چشم انداز اهداف اروپای مرکزی
عنوان انگلیسی مقاله:
M&A and innovation: The role of integration and cultural differences— A central European targets perspective
سال انتشار : 2014
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مقدمه انگلیسی مقاله:
1. Introduction
Mergers and Acquisitions (henceforth: M&A) are a popular research topic. The global transaction volume which equals the GDP of economies like Brazil(in 2013 $ 2.24 trillion) emphasizes its significance for managerial practice. Even though domestic transactions still play a major role, the number of cross-border M&A has increased during the last two decades (Shimizu, Hitt, Vaidyanath, & Pisano, 2004). M&A offer firms the opportunity to develop new markets or to seek for the transfer of technology and innovation to keep pace with the globalization of business (Hitt, Franklin, & Zhu, 2006). Even though cross-border deals have played a role in the market for corporate control since the fourth merger wave, a significant increase in terms of numbers and volume of cross-border transactions can be observed since the 2000s. Crossborder M&A differ from domestic M&A, as buyer and target firms are embedded in different cultural environments. Despite the great practical importance of cross-border M&A, there is only little academic knowledge and understanding of the phenomenon (Shimizu et al., 2004). Past research has shown that national culture is an important factor for the success or failure of crossborder M&A (Weber, 1996; Teerikangas & Very, 2006; Stahl & Voigt, 2008). The interaction and management of two different national cultures is a major challenge and a common reason for failure (Bjo¨ rkman, Stahl, & Vaara, 2007). National cultures are relevant for merger integration, processes, and outcomes (Weber, 1996; Stahl & Voigt, 2008). Differences in national cultures can have positive effects (e.g., learning of new routines, knowledge transfer) or negative effects (e.g., distrust, conflicts). Clashes between two cultures due to different values and practices can lead to a lack of collaboration and understanding (Nahavandi & Malekzadeh, 1988; Cartwright & Cooper, 1996), causing the negative performance of cross-border M&A. However, empirical studies concerning cultural differences provide mixed results (Weber, 1996; Morosini, Shane, & Singh, 1998). Despite the increasing research attention on M&A in general and cross-border transactions in particular, there is still an observable gap between academic understanding of the value creating or destroying conditions and the practical importance of M&A (Ellis, Reus, & Lamont, 2009). Due to the constantly low success rates of about 40–60 percent (Homburg & Bucerius, 2006), it must be stated that the key determinants of post-acquisition performance still remain unclear (Weber, Tarba, & Reichel, 2011a;King, Dalton, Daily, & Covin, 2004). Current reviews conclude that the commonly analyzed variables fail in explaining post-merger performance and that unidentified variables and interactions caused by the fragmentation of research (Stahl & Voigt, 2008) could help us in developing a better understanding of the phenomenon (King et al., 2004). With the following literature review, we want to draw attention to three major problem fields in current research.
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کلمات کلیدی:
Integrating cultures after a merger - Bain Brief - Bain & Company www.bain.com/publications/articles/integrating-cultures-after-a-merger.aspx Dec 11, 2013 - Companies' values and ways of working are just too different. ... The new cultural integration tools offer companies the same opportunity to close the ... the differences among people, units, geographical regions and functions. [PDF]The Role of the State in Cultural Integration - Migration Policy Institute www.migrationpolicy.org/pubs/CivicIntegration-Joppke.pdf by C Joppke - 2012 - Related articles the State in Cultural Integration: Trends, Challenges, and Ways .... of cultural differences — and should be the core of integration policy solutions — yet identity ... Integration: The Role of Communities, Institutions, and the State ... www.migrationpolicy.org/article/integration-role-communities-institutions-and-state On the one hand, studies that compare the integration process of different immigrant ... In addition, in the cultural and religious domain, historical peculiarities of ... 1 Introduction: Perspectives on Cultural Integration of Immigrants www.oxfordscholarship.com/view/10.1093/.../acprof-9780199660094-chapter-1 In Section 1.2 we discuss briefly the different theories of cultural integration .... Economists, therefore, emphasize the importance of individual incentives and of ... [PDF]The importance and the influence of the corporate culture in a merger ... www.diva-portal.org/smash/get/diva2:1212/FULLTEXT01.pdf by H Makhlouk - 2008 - Cited by 9 - Related articles merger phase played an important role in the integration process because ... Underestimating the costs in integrating different corporate cultures or failing to ... Post Merger Integration: Cultural Alignment is a Prerequisite for Value ... https://leadershipwatch-aadboot.com/.../post-merger-integration-cultural-alignment-is-... Jun 26, 2011 - Post Merger Integration research over the past decades has shown that a ... What cultural differences will play a role in the integration of the two ... Ad Cultural Competency Adwww.millaproject.org/ Provide culture competent services. Customized workshops available now. Courses: Law Enforcement Training, Healthcare Training, Anti-Trafficking Workshops… Searches related to role of integration and cultural differences ethnocentrism cultural relativism acculturation assimilation culture google scholar
