When two become one : A study of the impact of sociocultural factors on the PMI process in cross-border M&As

Detta är en Master-uppsats från Uppsala universitet/Företagsekonomiska institutionen; Uppsala universitet/Företagsekonomiska institutionen

Sammanfattning: There is a paradoxical realism as the number of cross-border mergers and acquisitions (M&As) increases on a global scale, despite the fact that organizations’ failure rate to generate the expected value from these cross-border M&As remains high. Researchers have argued that these failures have been connected to the post-merger integration (PMI) process in which multiple challenges are imposed. However, the findings within the area are both limited and scattered, and researchers have emphasized the need to enhance the understanding of how different sociocultural factors impact the integration process of merging organizations in an international context.   Therefore, this study was conducted to investigate how sociocultural factors impact the PMI process in cross-border M&As. The empirical data was collected through a qualitative multiple case study from a Swedish company that has conducted numerous cross-border M&As. Four acquisitions in different international settings were examined, and 16 interviews were carried out with employees from both the case company and the acquired firms.   The findings demonstrate that sociocultural factors on four different levels need to be considered; national, company, team and individual. Interestingly, the findings highlight that there is no apparent connection concerning the level of psychic distance between national cultures and the challenges imposed in the PMI process, as previously suggested by research. However, national culture still matters, but this study suggests that the most substantial impact on the PMI process derives from sociocultural factors on a company cultural level. This is surprising as most research on culture has been focusing on the national level, and this suggests that future research should shift focus to incorporate and investigate additional levels of culture as well.  

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