International mergers and acquisitions performance revisited - The role of cultural distance and post-acquisition integration approach

Advances in Mergers and Acquisitions

Volumn 8, Issue , 2009, Pages 1-17

  Weber, Yaakov ^a   Tarba, Shlomo Yedidia ^a   Reichel, Arie ^a  

^a NONE

Author keywords

[No Author keywords available]

Indexed keywords

EID: 84882729143     PISSN: 1479361X     EISSN: None     Source Type: Book Series    
DOI: 10.1108/S1479-361X(2009)0000008003     Document Type: Article

References (56)

1. Barkema, H. G., Bell, J. H. J., & Pennings, J. M. (1996). Foreign entry, cultural barriers and Learning. Strategic Management Journal (17), 151-166.
2. Bjorkman, I., Stahl, G., & Vaara, E. (2007). Cultural differences and capability transfer in cross-border acquisitions: The mediating roles of capability complementarity, absorptive capacity, and social integration. Journal of International Business Studies, 38, 658-672.
3. Calori, R., Lubatkin, M., & Very, P. (1994). Control mechanisms in cross-border acquisitions: An international comparison. Organization Studies, 15, 361-379.
4. Cartwright, S., & Cooper, C. L. (1992). Mergers and acquisitions: The human factor. Oxford: Butterworth-Heinemann.
5. Cartwright, S., & Cooper, C. L. (1993). The role of culture compatibility in successful organizational marriage. Academy of Management Executive, 7, 57-70.
6. Cartwright, S., & Price, F. (2003). Managerial preferences in international merger and acquisition partners revisited: How are they influenced? In: C. Cooper & A. Gregory (Eds), Advances in mergers and acquisitions (Vol. 2). New York: JAI.
7. Chatterjee, S., Lubatkin, M. H., Schweiger, D. M., & Weber, Y. (1992). Cultural differences and shareholders value: Explaining the variability in the performance of related mergers. Strategic Management Journal, 13, 319-334.
8. Child, J., Faulkner, D., & Pitkethly, R. (2000). Foreign direct investment in the UK 1985-1994: The impact on domestic management practice. Journal of Management Studies, 37(1), 141-166.
9. Datta, D. (1991). Organizational fit and acquisition performance: Effects of post-acquisition integration. Strategic Management Journal, 12, 281-297.
10. Datta, D. K., & Puia, G. (1995). Cross-border acquisitions: An examination of the influence of relatedness and cultural fit on shareholder value creation in U.S. acquiring firms. Management International Review, 35(4), 337-359.
11. Doty, D. H., Glick, W. H., & Huber, G. P. (1993). Fit, equifinality, and organizational effectiveness: A test of two configurational theories. Academy of Management Journal, 36, 1196-1250.
12. Ellis, K. M. (2004). Managing the acquisition process: Do differences actually exist across integration approaches? In: A. L. Pablo & M. Javidan (Eds), Mergers and acquisitions: Creating integrative knowledge. Malden, MA: Blackwell Publishing.
13. Ellis, K. M., Weber, Y., & Raveh, A. (2003). Exploring linkages between choice of integration approach and M&A process management. Paper presented at the annual meeting of the Academy of Management, Seattle, Washington, DC.
14. Graebner, M. (2004). Momentum and serendipity: How acquired leaders create value in the integration of technology firms. Strategic Management Journal, 25, 751-777.
15. Hambrick, D. C., & Cannella, A. A., Jr. (1993). Relative standing: A framework for understanding departures of acquired executives. The Academy of Management Journal, 36(4), 733-762.
16. Hartog, V. (2004). The impact of perceived uncertainty on culture differences in the post-acquisition process to strategy realization. In: A. L. Pablo & M. Javidan (Eds), Mergers and acquisitions: Creating integrative knowledge. Malden, MA: Blackwell Publishing.
17. Haspeslagh, P. C., & Jemison, D. B. (1991). Managing acquisitions: Creating value through corporate renewal. New York: Free Press.
18. Hofstede, G. (1980). Culture's consequences. London: Sage.
19. Hofstede, G., Neuijen, B., Ohavy, D. D., & Sanders, G. (1990). Measuring organizational culture: A qualitative and quantitative study across twenty cases. Administrative Science Quarterly, 35, 286-317.
20. Jemison, D., & Sitkin, S. B. (1986). Corporate acquisitions: A process perspective. Academy of Management Review, 11(1), 145-163.
21. Larsson, R., & Finkelstein, S. (1999). Integrating strategic, organizational, and human resource perspectives on mergers and acquisitions: A case survey of synergy realization. Organization Science, 10(1), 1-26.
22. Laurent, A. (1983). The cultural diversity of western conceptions of management. International Studies of Management & Organization, 13, 75-97.
23. Laurent, A. (1986). The cross-cultural puzzle of international human resource management. Human Resource Management, 25, 91-102.
24. Lubatkin, M., Calori, R., Very, P., & Veiga, J. (1998). Managing mergers across borders: A two nation exploration of a nationally bound administrative heritage. Organization Science, 9(6), 670-684.
25. Lubatkin, M., Schweiger, D., & Weber, Y. (1999). Top management turnover in related M&A's: An additional test of the theory of relative standing. Journal of Management, 25(1), 55-73.
26. Marks, M. L., & Mirvis, P. H. (1998). Joining forces: Making one plus one equal three in mergers, acquisitions and alliances. San Francisco: Jossey-Bass Publishers.
27. Morosini, P. (2001). Managing cultural differences: Effective strategy and execution across cultures in global corporate alliances. Oxford, England: Elsevier Science.
28. Morosini, P., Shane, S., & Singh, H. (1998). National cultural distance and cross- border acquisition performance. Journal of International Business Studies, 29(1), 137-158.
29. Morosini, P., & Singh, H. (1994). Post cross-border acquisitions: Implementing 'national culture-compatible' strategies to improve performance. European Management Journal, 12(4), 390-400.
30. Nahavandi, A., & Malekzadeh, A. R. (1988). Acculturation in mergers and acquisitions. The Academy of Management Review, 13(1), 79-91.
31. Pitkethly, R., Faulkner, D., & Child, J. (2003). Integrating acquisitions. In: C. Cooper & A. Gregory (Eds), Advances in mergers and acquisitions (Vol. 2). New York: JAI.
32. Puranam, P., Singh, H., & Zollo, M. (2003). A bird in the hand or two in the bush? Integration trade-offs in technology-grafting acquisitions. European Management Journal, 21(2), 179-184.
33. Puranam, P., Singh, H., & Zollo, M. (2006). Organizing for innovation: Managing the coordination-autonomy dilemma in technology acquisitions. Academy of Management Journal, 49(2), 263-280.
34. Puranam, P., & Srikanth, K. (2007). What they know vs. what they do: How acquirers leverage technology acquisitions. Strategic Management Journal, 28, 805-825.
35. Ranft, A. (2006). Knowledge preservation and transfer during post-acquisition integration. In: C. Cooper & S. Finkelstein (Eds), Advances in mergers and acquisitions (Vol. 5). New York: JAI.
36. Ranft, A., & Lord, M. D. (2002). Acquiring new technologies and capabilities: A grounded model of acquisition implementation. Organization Science, 13(4), 420-441.
37. Schneider, S. C. (1988). National vs. corporate culture: Implications for human resource management. Human Resource Management, 27, 231-247.
38. Schoenberg, R. (2000). The influence of cultural compatibility within cross-border acquisitions: A review. In: C. Cooper & A. Gregory (Eds), Advances in mergers and acquisitions (Vol. 2). New York: JAI.
39. Schoenberg, R. (2006). Measuring the performance of corporate acquisitions: An empirical comparison of alternative metrics. British Journal of Management, 17, 361-370.
40. Schweiger, M. D., & Goulet, P. K. (2000). Integrating mergers and acquisitions: An international research review. In: C. Cooper & A. Gregory (Eds), Advances in mergers and acquisitions (Vol. 2). New York: JAI.
41. Shenkar, O. (2001). Cultural distance revisited: Towards a more rigorous conceptualization and measurement of cultural differences. Journal ofInternational Business Studies, 32(3), 519-535.
42. Shimuzu, K., Hitt, M., Vaidyanath, D., & Pisano, V. (2004). Theoretical foundations of cross-border mergers and acquisitions: A review of current research and recommendations for the future. Journal of International Management, 10, 307-353.
43. Slangen, A. H. L. (2006). National cultural distance and initial foreign acquisition performance: The moderating effect of integration. Journal of World Business, 41, 161-170.
44. Stahl, G. K., Mendenhall, M. E., & Weber, Y. (2005). Research on sociocultural integration in mergers and acquisitions: Points of agreement, paradoxes, and avenues for future research. In: G. K. Stahl & M. E. Mendenhall (Eds), Mergers andacquisitions: Managing culture and human resources. Stanford, CA: Stanford Business Books.
45. Stahl, G. K., & Voight, A. (2005). Impact of cultural differences on merger and acquisition performance: A critical research review and an integrative model. In: C. Cooper & S. Finkelstein (Eds), Advances in mergers and acquisitions (Vol. 4). New York: JAI.
46. Stahl, G. K., & Voight, A. (2008). Do cultural differences matter in mergers and acquisitions? A tentative model for examination. Organization Science, 19(1), 160-176.
47. Teerikangas, S., & Very, P. (2006). The culture-performance relationship in M&A: From yes/no to how. British Journal of Management, 17, 31-48.
48. Uhlenbruck, K., & Castro, J. (1998). Privatization from the acquirer's perspective: A mergers and acquisitions based framework. Journal of Management Studies, 35(5), 619-640.
49. Uhlenbruck, K., & Castro, J. (2000). Foreign acquisitions in central and easterm Europe: Outcomes of Privatizations in transitional economies. Academy of Management Journal, 43(3), 381-402.
50. van Oudenhoven, J. P., & Boer, T. (1995). Complementarity and similarity of partners in international mergers. Basic and Applied Social Psychology, 17(3), 343-356.
51. Very, P., Lubatkin, M., & Calori, R. (1996). A cross-national assessment of acculturative stress in recent European mergers. International Studies of Management and Organization, 26, 59-86.
52. Very, P., Lubatkin, M., Calori, R., & Veiga, J. (1997). Relative standing and the performance of recently acquired European firms. Strategic Management Journal, 18, 593-614.
53. Weber, Y. (1996). Corporate culture fit and performance in mergers and acquisitions. Human Relations, 49(9), 1181-1202.
54. Weber, Y., & Pliskin, N. (1996). The effects of information systems integration and organizational culture on a firm's effectiveness. Information & Management, 30, 81-90.
55. Weber, Y., & Schweiger, D. (1992). Top management culture in mergers and acquisitions: A lesson in anthropology. The International Journal of Conflict Management, 3(4), 285-302.
56. Weber, Y., Shenkar, O., & Rave, A. (1996). National and corporate culture fit in mergers/acquisitions: An exploratory study. Management Science, 42(8), 1215-1227.