Key Success Factors in Knowledge Transfer during M&A in Traditional Industries: An Empirical Study

摘要

This paper describes a study on identifying key successful factors in knowledge transfer resulting from business mergers and acquisitions (M&A) in those (so-called) traditional industries (e.g., textile and steel & iron) with the data collected in the steel and iron industry in Southwestern China. Specifically, this research investigates the relationship between prior-gained knowledge of merging companies, preparation and implementation processes, and actual performance after knowledge transfer. The result reveals that such prior-gained knowledge of merging companies will have a significant positive impact on the motivation for proposed M&A, while it, in contrast, may only have a limited impact on other factors such as the levels of transferred knowledge, its investments, implementation process, and the final performance. In fact, the prior-gained knowledge about the transferred knowledge among involved firms in the M&A is often mutually complementary. This research suggests that intensive motivation for M&A will have a positive impact on the desire levels of knowledge transfer, which will in turn have a positive impact on the success of knowledge transfer implementation process, and a successful implementation process then certainly will make a positive contribution to the effectiveness of knowledge transfer. Managerial implications and suggestions for future research are also discussed.