Mergers and Acquisitions for Expanding Service Offering

摘要

Mergers and acquisitions(M&As)may be a mechanism to expand the service of fering because the acquisition of service capabilities might be easier and more cost efficient than building service capabilities and provide much faster expansion than through internal development(Hitt et al.1996).To realize such synergy,many firms have attempted acquisitions.Unfortunately,more than half of all M&A transactions actually reduce shareholders value as many evidenced.Many researchers(e.g.,Angwin 2004;Bauer and Matzler 2014;Cording,Christiann,and King 2008;Datta 1991;Epstein 2004;Homburg and Bucerius 2006;Larsson and Finkelstein 1999;Shaver 2006;Zollo and Meier 2008)attempted to understand M&A in the context of the organization behavior,which aims to look for soundness and adaptability of integrated organization,and identified inefficient integration process as a cause of merger failure.However,they provided inconsistent views on the relationship between organizational culture,different aspects of integration(i.e.,level of integration and speed of integration),and merger success.Therefore,a further investigation of the relationship must be conducted to better understand M&A in the context of the organization behavior.In response to these research gaps,I examine the performance consequences of strategic change implementation when a distinct and sustainable organizational culture plays a role in determining the performance gain as well as performance loss in M&A.In doing so,I identify a relationship between cultural conflict,postmerger integration,and merger success.