Executive perceptions in foreign and domestic acquisitions: an analysis of foreign ownership and its effect on executive fate

Krug, Jeffrey A.; Nigh, Douglas

doi:10.1016/s1090-9516(00)00055-9

Cited by 86 publications

(60 citation statements)

References 9 publications

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“…National and organizational cultural differences have often been cited as a key reason for the high failure rate of domestic and cross-border M&As in the management literature (Krug and Nigh 2001;King et al 2004). However, empirical research has not been conclusive in demonstrating the direction of the impact of these differences on M&A dynamics (Teerikangas and Very 2006;Stahl and Voigt 2008;Vaara et al 2010).…”

Section: Concluding Discussionmentioning

confidence: 99%

“…Cooperative alliances share many characteristics with M&As and therefore it is not surprising that trust also plays an important role in the M&A process (Stahl and Sitkin 2005). Interviews with managers and employees of acquired organizations (Krug and Nigh 2001) have confirmed that trust is of critical importance to successful integration of merging firms.…”

Section: Socio-cultural Integration Processes In the Context Of Mandasmentioning

confidence: 97%

“…The cognitive dimension refers to those resources providing shared interpretations, and systems of meaning among parties (Cicourel 1973). Aspects of M&A socio-cultural integration that have been identified as relevant to synergy realization are the creation of positive relationships Voigt 2005, 2008), the emergence of a sense of trust (Krug and Nigh 2001;Stahl and Sitkin 2005) and shared identity (Larsson and Lubatkin 2001;Van Knippenberg, Van Knippenberg, Monden, and Lima 2002) among organizational members. They map quite well on structural (interpersonal relationships), relational (trust) and cognitive (shared identity) social capital and justify the use of social capital as a guiding theoretical frame.…”

Section: Socio-cultural Integration Processes In the Context Of Mandasmentioning

confidence: 99%

“…Buono and Bowditch 1989;Cartwright 1997;Krug and Nigh 2001), and that they are responsible for the high failure rates of mergers and acquisitions (M&As) (King, Dalton, Daily, and Covin 2004). The ability to integrate culturally has been ranked as more important to the success of acquisitions than financial and strategic factors (Cartwright and Cooper 1996).…”

Section: Introductionmentioning

confidence: 99%

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Cultural influences and the mediating role of socio-cultural integration processes on the performance of cross-border mergers and acquisitions

Hajro

2014

The International Journal of Human Resource Management

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This paper reports findings from a longitudinal case study (2005 -2011) of a merger between an Austrian and a German energy provider. I develop a model of socio-cultural integration processes based on an analysis of critical incidents expressed in 71 problem-centred interviews and observations with acquired and acquiring employees at four different points of time: immediately before the takeover and during the first negotiation talks, and one, three and six years after the takeover. The findings suggest that the relationship between national and organizational cultural differences and M&A outcomes is mediated by socio-cultural integration processes defined in terms of the formation of interpersonal relationships, trust and shared identity. Based on these findings I formulate specific propositions and build an evidence-based model of M&A socio-cultural integration processes that guides future research and practice.

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Section: Concluding Discussionmentioning

confidence: 99%

Section: Socio-cultural Integration Processes In the Context Of Mandasmentioning

confidence: 97%

Section: Socio-cultural Integration Processes In the Context Of Mandasmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

See 2 more Smart Citations

Cultural influences and the mediating role of socio-cultural integration processes on the performance of cross-border mergers and acquisitions

Hajro

2014

The International Journal of Human Resource Management

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“…Cultural differences between merging organizations have been found to be negatively associated with the commitment of the acquired firm's top management to the merger's success and with the acquiring firm management's cooperation (Chatterjee et al, 1992;DeNisi & Shin, 2004;Krug & Nigh, 2001;Teerikangas & Very, 2006;Weber, 1996;. In a merger of equals, we assume that conflict may be strongest when management of one firm is responsible for determining the goals, strategic choices, and key operations of postmerger integration.…”

Section: Contexts Of Equality: Cultural Differences In Mergers Of Equalsmentioning

confidence: 99%

Cultural clashes in a “merger of equals”: The case of high‐tech start‐ups

Drori

Wrzesniewski

Ellis

2011

Human Resource Management

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The randomized clinical trial of doxycycline in knee osteoarthritis: Comment on the editorial by Dieppe

Brandt¹,

Mazzuca²

2006

Arthritis & Rheumatism

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We thank Dr. Dieppe for his complimentary remarks (1) about our randomized controlled trial (RCT) of doxycycline in knee osteoarthritis (OA) (2) and concur that a drug that slows progression of radiographic changes of OA will hold little therapeutic interest if this effect is not accompanied by clinically important benefits, such as a reduction in joint pain or an improvement in function. After all, the real problem is not OA; almost all of us will develop OA. The real problem is painful OA, with its medical, social, and economic consequences.Although previous data suggest only a weak association between progression of radiographic changes and progression of knee pain and disability in patients with OA, studies that have examined this relationship have used radiographic protocols that are less sensitive to joint space narrowing (JSN) than that used in the doxycycline trial. Indeed, in the RCT, the rate of JSN at 30 months in the index knee of subjects with a baseline Western Ontario and McMaster Universities Osteoarthritis Index (3) pain score Ն16 was more than twice as rapid as that in subjects with a lower baseline pain score (mean Ϯ SD 0.73 Ϯ 0.75 mm versus 0.33 Ϯ 0.64 mm; P Ͻ 0.001). Because of the low mean level of knee pain in the subjects enrolled in the RCT, the results of this clinical trial do not answer the question of whether doxycycline treatment has a salutary clinical effect in patients with more severe OA pain. That can be tested, however, and it should be tested.We share with Dr. Dieppe the view that OA is a mechanically induced disease that is biochemically mediated (e.g., matrix metalloproteinases play a prominent role in the degradation of articular cartilage). It is indeed reasonable to anticipate that the response to a structure-modifying drug may be suboptimal if the underlying mechanical abnormalities are not corrected. Osteotomy and joint distraction procedures, however, are not optimal therapies for most patients with knee OA. Furthermore, in most of the animal models in which the efficacy of doxycycline, diacerhein, and other putative structure-modifying drugs for OA has been demonstrated, OA has been surgically induced. Prevention or slowing of cartilage damage has occurred despite persistence of the mechanical derangement. If this point is dismissed, incentives to attempt to develop structure-modifying OA drugs may be stifled. Perhaps such drugs will, as Dieppe suggests, be of little value in treatment of OA in humans, but it is too soon to reach that conclusion on the basis of the evidence to date.Of course, pharmacologic therapy for OA must be safe. This is as true for analgesics, nonselective nonsteroidal antiinflammatory drugs, and coxibs as it is for diseasemodifying drugs. In the RCT, no serious adverse events attributable to doxycycline occurred among the 218 subjects randomized to the active treatment group. That number is far too small to provide reassurance that such events would not occur if the drug were used widely, without adequate medical supervision, by older subjects...

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Executive perceptions in foreign and domestic acquisitions: an analysis of foreign ownership and its effect on executive fate

Cited by 86 publications

References 9 publications

Cultural influences and the mediating role of socio-cultural integration processes on the performance of cross-border mergers and acquisitions

Cultural influences and the mediating role of socio-cultural integration processes on the performance of cross-border mergers and acquisitions

Cultural clashes in a “merger of equals”: The case of high‐tech start‐ups

The randomized clinical trial of doxycycline in knee osteoarthritis: Comment on the editorial by Dieppe

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