Advertisement

The Cultural Perspective of Mergers & Acquisitions: An Exploratory Study

  • Michael B. HinnerEmail author
Chapter

Zusammenfassung

Up to 70% of all mergers & acquisitions (M & A) fail. Research has shown that humans are a primary reason for these failures. This should not come as a surprise because corporations are made up of people who created a unique corporate culture over a period of time.

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

Literatur

  1. Abelson, R. P. (1981). Psychological status of the script concept. American Psychologist 36(7), 715-729.CrossRefGoogle Scholar
  2. Adler, R. B., Rodman, G., & du Pré, A. (2013). Understanding human communication (12th ed.). New York: Oxford University Press.Google Scholar
  3. Albarracin, D. (2004). The role of defensive confidence in preference for proattitudinal information: How believing that one is strong can sometimes be a defensive weakness. Personality and Social Psychology Bulletin 30(12), 1565-1584.  https://doi.org/10.1177/01467204271180.
  4. Albert, S., & Whetten, D. A. (1985). Organizational identity. In L. L. Cummings & B. M. Staw (eds.), Research in organizational behavior. An annual series of analytical essays and critical reviews (pp. 263-295). Greenwich: JAI Press.Google Scholar
  5. Alvesson, M. (2013). Understanding organizational culture. (2nd ed.). London: Sage.Google Scholar
  6. Ashford, B. E., & Mael. F. (1989). Social identity theory and the organization. Academy of Management Review 14(1), 20-39.  https://doi.org/10.5465/amr.1989.4278999CrossRefGoogle Scholar
  7. Berger, C. R. (1979). Beyond initial interaction: Uncertainty, understanding and development of interpersonal relationships. In H. Giles & R. N. St. Clair (eds.), Language and social psychology (pp. 122-144). Oxford: Basil Blackwell.Google Scholar
  8. Berger, C. R., & Calabrese, R. J. (1975). Some explorations in initial interaction and beyond: Toward a developmental theory of communication. Human Communication Research 1(2), 99-112.CrossRefGoogle Scholar
  9. Brehm, J. W. (1966). A theory of psychological reactance. New York: Academic PressGoogle Scholar
  10. Brown, A. L. (1978). Knowing when, where, and how to remember: A problem of metacognition. In R. Glaser (Ed).), Advances in instructional psychology, Vol. 1 (pp. 77-165). Hillsdale: Erlbaum.Google Scholar
  11. Brown, A. L. (1987). Metacognition, executive control, self-regulation, and other more mysterious mechanisms. In F. E. Weinert & R. H. Kluwe (eds.), Metacognition, motivation, and understanding (pp. 65-116). Hillsdale: Erlbaum.Google Scholar
  12. Canary, D. J., & Lakey, S. G. (2006). Managing conflict in a competent manner: A mindful look at events that matter. In J. G. Oetzel & S. Ting-Toomey (eds.), The Sage handbook of conflict communication: Integrating theory, research, and practice (pp. 185-210). Thousand Oaks: Sage.Google Scholar
  13. Canary, D. J., & Lakey, S. G. (2013). Strategic conflict. New York: Routledge.Google Scholar
  14. Canary, D. J., & Spitzberg, B. H. (1987). Appropriateness and effectiveness perceptions of conflict strategies. Human Communication Research 14(1), 93-118.CrossRefGoogle Scholar
  15. Caughlin, J. P., & Vangelisti, A. L. (2006). Conflict in dating and romantic relationships. In J. G. Oetzel &S. Ting-Toomey (eds.), The Sage handbook of conflict communication: Integrating theory, research, and practice (pp. 129-157). Thousand Oaks: Sage.Google Scholar
  16. Chen, G. M., & Starosta, W. J. (1998). Foundations of intercultural communication. Needham Heights: Allyn & Bacon.Google Scholar
  17. Collier, M. J., & Thomas, M. (1988). Cultural identities: An interpretive perspective. In Y. Y. Kim & W. B. Gudykunst (eds.). Theories of intercultural communication (pp. 94-120). Newbury Park: Sage.Google Scholar
  18. Combs, A. W., & Snygg, D. (1959). Individual behavior (rev. ed.). New York: Harper & Row.Google Scholar
  19. Dainton, M., & Zelley, E. D. (2015). Applying communication theory for professional life: A practical introduction (3rd ed.). Thousand Oaks: Sage.Google Scholar
  20. Deal T. E., & Kennedy, A. A. (1982). Corporate cultures: The rites and rituals of corporate life. Harmondsworth: Penguin Books.Google Scholar
  21. DeVito, J. A. (2015). The interpersonal communication book (14th ed.). Boston: Pearson.Google Scholar
  22. Doise, W. (1986). Levels of explanation in social psychology. Cambridge: Cambridge University Press.Google Scholar
  23. Drake, L. E., & Donohue, W. A. (1996). Communicative framing theory in conflict resolution. Communication Research 23(3), 297-322.  https://doi.org/10.1177/009365096023003003CrossRefGoogle Scholar
  24. Dunning, D. A., & Kruger, J. (1999). Unskilled and unaware of it: How difficulties in recognizing one’s own incompetence lead to inflated self-assessments. Journal of Personality and Social Psychology 77(6), 1121-1134.  https://doi.org/10.1037/0022-3514.77.6.1121CrossRefGoogle Scholar
  25. Empson, L. (2004). Organizational identity change: Managerial regulation and member identification in an accounting firm acquisition. Accounting, Organizations and Society 29(8), 759-781.  https://doi.org/10.1016/j.aos.2004.04.002CrossRefGoogle Scholar
  26. Entman, R. M. (1993). Framing: Toward clarification of a fractured paradigm. Journal of Communication 43(4), 51-58.  https://doi.org/10.1111/j.1460-2466.1993.tb01304.xCrossRefGoogle Scholar
  27. Festinger, L. (1957). A theory of cognitive dissonance. Stanford: Stanford University PressGoogle Scholar
  28. Fischer, H., & Steffens-Duch, S. (2002). Die Bedeutung der Unternehmenskultur bei Akquisitionen und Fusionen – das Beispiel Deutsche Bank und Bankers Trust. In U. Krysteck & E. Zur (eds.), Handbuch Internationalisierung. Globalisierung – eine Herausforderung für Unternehmensführung (pp. 809-818). Berlin: Springer Verlag.Google Scholar
  29. Flamholtz, E. G., & Randle, Y. (2011). Corporate culture: The ultimate strategic asset. Stanford: Stanford University Press.Google Scholar
  30. Flavel, J. H. (1979). Metacognition and cognitive monitoring: A new era of cognitive-developmental inquiry. American Psychologist 34(10), 906-911.CrossRefGoogle Scholar
  31. Flavel, J. H. (1987). Speculations about the nature and development of metacognition. In F. E. Weinert & R. H. Kluwe (eds.), Metacognition, motivation, and understanding (pp. 21-29). Hillsdale: Erlbaum.Google Scholar
  32. Friman, M., Gärling, T., Mattsson, J., & Johnston, R. (2002). An analysis of international business-to-business relationships based on the Commitment-Trust theory. Industrial Marketing Management 31(5), 403-409.CrossRefGoogle Scholar
  33. Frith, C. (2012). The role of metacognition in human social interactions. Philosophical Transactions of the Royal Society B 367, 2213-2223.  https://doi.org/10.1098/rstb.2012.0123CrossRefGoogle Scholar
  34. Furnham, A., & Bochner, S. (1986). Culture shock: Psychological reactions to unfamiliar environments. New York: Methuen.Google Scholar
  35. Gagnon, A., & Bourhis, R. Y. (1996). Discrimination in the minimal group paradigm: Categorization, reciprocation, or fear? Journal of Personality and Social Psychology 79(1), 77-94.Google Scholar
  36. Gamble, T. K., & Gamble, M. (2012). Communication works (11th ed.). New York: McGraw-Hill.Google Scholar
  37. Gass, R. H., & Seiter, J. S. (2014). Persuasion, social influence and compliance gaining (5th ed.). Harlow: Pearson Education.Google Scholar
  38. Giles, H., Coupland J., & Coupland, N. (1991). Accommodation theory: Communication, context, and consequences. In H. Giles, J. Coupland, & N. Coupland (eds.), Context of accomodation: Developments in applied sociolinguistics (pp. 1-68). Cambridge: Cambridge University Press.Google Scholar
  39. Goffman, E. (1974). Frame analysis: An essay on the organization of experience. Cambridge: Harvard University Press.Google Scholar
  40. Gudykunst, W. B. (ed.). (1988). Language and ethnic identity. Clevedon: Multilingual Matters.Google Scholar
  41. Hamacheck, D. (1992). Encounters with the self (3rd ed.). Fort Worth: Holt, Rhinehart and Winston.Google Scholar
  42. Hart, W., Albarracin, D., Eagly, A. H., Brechan, I., Lindberg, M. J., Merrill, L. (2009). Feeling validated versus being correct: A meta-analysis of selective exposure to information. Psychological Bulletin 135(4), 555-588.  https://doi.org/10.1037/a0015701.CrossRefGoogle Scholar
  43. Hatch, M. J., & Schultz, M. (2000). Scaling the tower of Babel: Relational differences between identity, image, and culture in organizations. In M. Schultz, M. J. Hatch, & M. H. Larsen (eds.), The expressive organization: Linking identity, reputation, and the corporate brand (pp. 9-35). Oxford: Oxford University Press.Google Scholar
  44. Jonas, E., Schulz-Hardt, S., Frey, D., & Thelen, N. (2001). Confirmation bias in sequential information search after preliminary decisions: An expansion of dissonance theoretical research on selective exposure to information. Journal of Personality and Social Psychology 80(4), 557-571.  https://doi.org/10.1037/0022-3514.80.4.557.CrossRefGoogle Scholar
  45. Jost, J. T., Kruglanski, A. W., & Nelson, T. O. (1998). Social metacognition: An expansionist review. Personality and Social Psychology Review 2(2), 137-154.  https://doi.org/10.1207/s/15327957pspr0202_6
  46. Kastenmüller, A., Greitemeyer, T., Jonas, E., Fischer, P., Frey, D. (2010). Selective exposure: The impact of collectivism and individualism. British Journal of Social Psychology 49(4), 745-763.  https://doi.org/10.1348/014466609x478988.CrossRefGoogle Scholar
  47. Kelman, H. C. (1961). Processes of opinion change. Public Opinion Quarterly 25(1), 57-78.CrossRefGoogle Scholar
  48. Klapper, J. T. (1960). The effects of mass communication. New York: The Free Press.Google Scholar
  49. Klopf. D. W. (1998). Intercultural encounters: The fundamentals of intercultural communication (4th ed.). Englewood: Morton Publishing Company.Google Scholar
  50. Kotter, J. P., & Heskett, J. L. (1992). Corporate culture and performance. New York: The Free Press.Google Scholar
  51. Kuypers, J. A. (2009). Framing analysis. In J. A. Kuypers (ed.), Rhetorical criticism: Perspectives in action (pp. 181-204). Lanham: Lexington Books.Google Scholar
  52. Lee, P. S. N. (2014). A study on Chinese-American cultural differences in interpersonal conflict management. In M. B. Hinner (ed.), Chinese culture in a cross-cultural comparison (pp. 441-461). Frankfurt am Main: Peter Lang.Google Scholar
  53. Likert, R. (1967). The human organization: Its management and value. New York: McGraw-Hill.Google Scholar
  54. Luft, J., & Ingham, H. (1955). The Johari Window, a graphic model of interpersonal awareness. Proceedings of the western training laboratory in group development. Los Angeles: UCLA.Google Scholar
  55. Lustig, M. W., & Koester, J. (2013). Intercultural competence: Interpersonal communication across cultures. Boston: Pearson.Google Scholar
  56. Mael, F., & Ashforth, B. E. (1992). Alumni and their alma mater: A partial test of the reformulated model of organizational identification. Journal of Organizational Behavior 13(2), 103-123.CrossRefGoogle Scholar
  57. Martin, R. L. (2016, June). M & A: The one thing you need to get right. Harvard Business Review, 43-48.Google Scholar
  58. Mullins, L. (2010). Management & organisational behaviour (9th ed.). Harlow: Pearson Education.Google Scholar
  59. Oberg. K. (1960). Culture shock: Adjustment to new cultural environments. Practical Anthropology 7(4), 177-182.CrossRefGoogle Scholar
  60. Oetzel, J. G. (2009). Intercultural communication: A layered approach. New York: Vango Books.Google Scholar
  61. O’Keefe, D. J. (2002). Persuasion: Theory and research (2nd ed.). Thousand Oaks: Sage.Google Scholar
  62. Oliver, R. L. (1977). Effect of expectation and disconfirmation on postexposure product evaluations: An alternative interpretation. Journal of Applied Psychology 62(4), 480-486.CrossRefGoogle Scholar
  63. Oliver, R. L. (1980). A cognitive model of the antecedents and consequences of satisfaction decisions. Journal of Marketing Research 17(4), 460-469.CrossRefGoogle Scholar
  64. Ott, M., & Wollersheim, J. (2015). The role of fear in post-merger integration. In I. Welpe & J. Wollersheim (eds.), Forum mergers & acquisitions 2014: Beiträge aus rechts- und wirtschaftswissenschaftlicher Sicht (pp. 311-327). Wiesbaden: Springer Gabler.Google Scholar
  65. Perrault, H. S., & Bourhis, R. Y. (1998). Social identification, interdependence and discrimination. Group Processes and Intergroup Relations 1, 49-66.Google Scholar
  66. Pettigrew, T. F., & Tropp, L. R. (2008). How does intergroup contact reduce prejudice? Metaanalytic tests of three mediators. European Journal of Social Psychology 38(6), 922-934.  https://doi.org/10.1002/ejsp.504CrossRefGoogle Scholar
  67. Piaget, J. (1954). The construction of reality in the child. New York: Basic Books.Google Scholar
  68. Plous, S. (1993). The psychology of judgement and decision making. New York: McGraw-Hill.Google Scholar
  69. Pratt, M. G., & Foreman, P. O. (2000). Classifying managerial responses to multiple organizational identities. Academy of Management Review 25(1), 18-42.CrossRefGoogle Scholar
  70. Puusa, A. & Toivanen, U. (2006). Organizational identity and trust. Electronic Journal of Business Ethics and Organization Studies 11(2), 29-33.Google Scholar
  71. Rahim, M. A. (2002). Toward a theory of managing organizational conflict. The International Journal of Conflict Management 13(3), 206-235.CrossRefGoogle Scholar
  72. Ravasi, D., & Schultz, M. (2006). Responding to organizational identity threats: Exploring the role of organizational culture. Academy of Management journal 49(3), 433-458.CrossRefGoogle Scholar
  73. Rawlins, W. K. (1983). Openness as problematic in ongoing friendships: Two conversational dilemmas. Communication Monographs 50(1), 1-13.CrossRefGoogle Scholar
  74. Rempel, J. K., & Holmes, J. G. (1986, February). How do I trust thee? Psychology Today, 28-34.Google Scholar
  75. Rochat, P. (2003). Five levels of self-awareness as they unfold early in life. Consciousness and Cognition 12(4): 717-731.  https://doi.org/10.1016/s1053-8100(03)00081-3CrossRefGoogle Scholar
  76. Roloff, M. E., & Ifert, D. E. (2000). Conflict management through avoidance: Withholding complaints, suppressing arguments, and declaring topics taboo. In S. Petronio (ed.), Balancing the secrets of private disclosures (pp. 151-163). Mahwah: Erlbaum.Google Scholar
  77. Roloff, M. E., & Wright, C. N. (2013). Social cognition and conflict. In J. G. Oetzel & S. Ting-Toomey (eds.), The Sage handbook of conflict communication: Integrating theory, research, and practice (2nd ed.) (pp. 133-160). Thousand Oaks: Sage.Google Scholar
  78. Salancik, G. R., & Pfeffer, J. (1978). A social information processing approach to job attitudes and task design. Administration Science Quarterly 23(2): 224-253.  https://doi.org/10.2307/2392563CrossRefGoogle Scholar
  79. Samovar, L. A., Porter, R. E., McDaniel, E. R., & Roy, C. S. (2013). Communication between cultures (8th ed.). Boston: Wadsworth Cengage Learning.Google Scholar
  80. Schein, E. H. (2010). Organizational culture and leadership. San Francisco: Jossey-Bass.Google Scholar
  81. Schuler, R., & Jackson, S. (2001). HR issues and activities in mergers and acquisitions. European Management Journal 19(3), 239-253.CrossRefGoogle Scholar
  82. Schweiger, D. M., & Denisi, A. S. (1991). Communication with employees following a merger: A longitudinal field experiment. Academy of Management Journal 34(1), 110-135.Google Scholar
  83. Servaes, J. (1989). Cultural identity and modes of communication. In J. A. Anderson (ed.), Communication yearbook 12 (pp.383-416). Newbury Park: Sage.CrossRefGoogle Scholar
  84. Sherif, M., & Hovland, C. I. (1961; rpt. 1980). Social judgement: Assimilation and contrast effects in communication and attitude change. Westport: Greenwood.Google Scholar
  85. Shobhit, S. (2017). The top reasons why M & A deals fail. Investopedia. Retrieved from the world wide web on April 10, 2018: www.Investopedia.com/articles/investing/111014/top stories
  86. Sillars, A. L. (2010). Interpersonal conflict. In C. R. Berger, M. E. Roloff, & D. R. Roskos-Ewoldsen (eds.), The handbook of communication science (2nd ed.) (pp. 273-290). Thousand Oaks: Sage.Google Scholar
  87. Sillars, A. L., Roberts, L. J., Leonard, K. E., & Dun, T. (2000). Cognition during marital conflict: The relationship of thought and talk. Journal of Social and Personal Relationships 17(4-5), 479-502.  https://doi.org/10.1177/0265407500174002.CrossRefGoogle Scholar
  88. Sullivan, L. (ed.). (2009). Selective exposure. The Sage glossary of social and behavioral sciences. Thousand Oaks: Sage.Google Scholar
  89. Tajfel, H., & Turner, J. C. (1986). The social identity theory of intergroup behavior. In S.Worchel, W. G. Austin, (eds.), Psychology of intergroup relations (pp. 7-24). Chicago: Nelson-Hall.Google Scholar
  90. Thibaut, J. W., & Kelley, H. H. (1959). The social psychology of groups. New York: Wiley.Google Scholar
  91. Turner, J. C. (1975). Social comparison and social identity: Some prospects for intergroup behaviour. European Journal of Social Psychology 5(1), 5-34.CrossRefGoogle Scholar
  92. Veeman, M. V. J., Van Hout-Wolters, B. H. A. M., & Afflerbach, P. (2006). Metacognition and learning: Conceptual and methodological considerations. Metacognition and Learning 1(1), 3-14.  https://doi.org/10.1007/s11409-006-6893-0CrossRefGoogle Scholar
  93. Walter, A., Ritter, T., & Gemünden, H. G. (2001). Value creation in buyer-seller relationships: Theoretical considerations and empirical results from a supplier’s perspective. Industrial Marketing Management 30(4), 365-377.CrossRefGoogle Scholar
  94. Ward, C., Bochner, S., & Furnam, A. (2001). The psychology of culture shock (2nd ed.). Philadelphia: Routledge.Google Scholar
  95. Wik, T. (2017). Why 70% of mergers and acquisitions fail. Strategy. Retrieved from the world wide web on April 10, 2018: www.business2community.com/strategy
  96. Yep, G. A. (1998). My three cultures: Navigating the multicultural identity landscape. In J. N. Martin, T. K. Nakayama, & L. A. Flores (eds.), Readings in cultural contexts (pp. 79-85). Mountain View: Mayfield.Google Scholar

Copyright information

© Springer Fachmedien Wiesbaden GmbH, ein Teil von Springer Nature 2019

Authors and Affiliations

  1. 1.Technische Universität Bergakademie FreibergFreibergDeutschland

Personalised recommendations