The Role of National Culture in Mergers and Acquisitions

Do All Emerging-Market Firms Partner with Their Acquisitions in Advanced Economies? A Comparative Study of 25 Emerging Multinationals’ Acquisitions in France

“…They can be grouped into four main categories (Figure ): Macroeconomic environment, both global and sectoral (Ramamurti & Singh, ).Acquirer's characteristics: Organization type, governance (Kale & Singh, ), cross‐border experience and knowledge‐absorption capacity (Deng, ; Liu & Woywode, ), and country of origin (Ramamurti & Singh, ). The latter includes cultural dimensions (Weber, Tarba, Stahl, & Bachar‐Rozen, ) and government's role (Meyer, Ding, Li, & Zhang, ), all of which form a company administrative heritage, which in a given environment influences judgments about “how things should be done,” from the form of capitalism in the country to management practices, including post‐acquisition approaches (Calori, Lubatkin, Very, & Veiga, ).Target's characteristics: Strategic resources (Haspeslagh & Jemison, ), managerial and economic performances, specific features, and management style (Tanure, Cancado, Duarte, & Muylder, ). …”

A Experiência De Sucessivas Aquisições Leva À Aprendizagem Organizacional? Um Caso No Setor Educacional

“…Tendo como lógica determinante a criação de valor (SHELTON, 1988;JEMISON, 1991), as aquisições horizontais ou relacionadas, assim designadas por ocorrer entre empresas atuantes no mesmo segmento (CAPRON, 1999), objetivam, em especial, a melhoria de resultados por meio dos ganhos de sinergia, com a obtenção de economias de escala e escopo, que não seriam possíveis se as organizações envolvidas operassem isoladamente (CAPRON, 1999;CARTWRIGHT;COOPER, 1993). Pesquisadores argumentam que as economias de escala demandam maior integração entre as organizações envolvidas na transação, o que remete à análise de aquisições sob a perspectiva de processo, na qual se verifica a importância da articulação entre a estratégia que motivou a transação e o modelo de integração a ser implementado (CHATTERJEE et al, 1992;NAHAVANDI;MALEKZADEH, 1988;SITKIN, 1986aSITKIN, , 1986bLUBATKIN, 1983;TANURE et al, 2009).…”

Assessing the Impact of the Competency Level on the Success of Companies’ Integration

“…Tanure, Cancado, Durate, & de Muylder indicate that firms need to evaluate these competencies during the M&A negotiations, but pressure to close the deal quickly may overlook organizational fit and rely solely on strategic fit [12]. Datta found that management style impacted the success of M&A more than operational integration [13].…”