Weitere Kapitel dieses Buchs durch Wischen aufrufen
Scholars have advanced the importance of a learning perspective on cultural integration in mergers and acquisitions. Yet the conflicting results in research in this field require a systematic approach to understand the learning mechanisms at work. This chapter examines tendencies to managerial bias in mergers and acquisitions. It explores whether perceptions of success increase the tendency to attribute success to management actions and whether experience of failure leads to increasing attributions to cultural differences. Finally, it provides ideas for future research and lays out practical implications for managers.
Bitte loggen Sie sich ein, um Zugang zu diesem Inhalt zu erhalten
Sie möchten Zugang zu diesem Inhalt erhalten? Dann informieren Sie sich jetzt über unsere Produkte:
Bettman, J. R., & Weitz, B. A. (1983). Attributions in the board room: Causal reasoning in corporate annual reports. Administrative Science Quarterly, 28, 155–183. CrossRef
Bjorkman, I., Stahl, G. K., & Vaara, E. (2007). Cultural differences and capability transfer in cross-border acquisitions: The mediating roles of capability complementarity, absorptive capacity, and social integration. Journal of International Business Studies, 38(4), 658–672. CrossRef
Brock, D. M. (2005). Multinational acquisition integration: The role of national culture in creating synergies. International Business Review, 14(3), 269–288. CrossRef
Bruton, G. D., Oviatt, B. M., & White, M. A. (1994). Performance of acquisitions of distressed firm. Academy of Management Journal, 37, 972–989.
Capron, L., Will, M., & Swaminathan, A. (2001). Asset divestiture following horizontal acquisitions: A dynamic view. Strategic Management Journal, 22, 817–844. CrossRef
Chatterjee, S., Lubatkin, M. H., Schweiger, D. M., & Weber, Y. (1992). Cultural differences and shareholder value in related mergers: Linking equity and human capital. Strategic Management Journal, 13, 319–334. CrossRef
Daft, R., & Weick, K. E. (1984). Toward a model of organizations as interpretation systems. The Academy of Management Review, 9(2), 284–295. CrossRef
Datta, D. K. (1991). Organizational fit and acquisition performance: Effects of post-acquisition integration. Strategic Management Journal, 12, 281–297. CrossRef
Datta, D. K., & Puia, G. (1995). Cross-border acquisitions: An examination of the influence of relatedness and cultural fit on shareholder value creation in U.S. acquiring firms. Management International Review, 35, 337–359.
Duhaime, I., & Schwenk, C. (1985). Conjectures on cognitive simplification in acquisition and divestment decision-making. Academy of Management Review, 10, 287–295. CrossRef
Finkelstein, S., & Haleblian, J. (2002). Understanding acquisition performance: The role of transfer effects. Organization Science, 13, 36–47. CrossRef
Gronhaug, K., & Falkenberg, J. S. (1998). Success attributions within and across organizations. In C. Eden & J.-C. Spender (Eds.), Managerial and organizational cognition: Theory methods and research (pp. 93–107). London: The Cromwell Press.
Haleblian, J., & Finkelstein, S. (1999). The influence of organizational acquisition experience on acquisition performance: A behavioral learning perspective. Administrative Science Quarterly, 44, 29–56. CrossRef
Haspeslagh, P., & Jemison, D. B. (1991). Managing acquisitions: Creating value through corporate renewal. New York: The Free Press.
Hayward, L. A. (2002). When do firms learn from their acquisition experience? Evidence from 1990–1995. Strategic Management Journal, 23, 21–39. CrossRef
Heider, F. (1958). The psychology of interpersonal relations. New York: Wiley. CrossRef
Hewstone, M., Wagner, U., & Machleit, U. (1989). Self-, ingroup, and outgroup achievement attributions of German and Turkish pupils. Journal of Social Psychology, 129, 459–470. CrossRef
Javidan, M., and House, R. J. (2002, September). The impact of national culture on large cross-border mergers: Lessons from GLOBE. Paper presented at the Strategic Management Society Conference, Paris.
Jemison, D. B., & Sitkin, S. B. (1986). Corporate acquisitions: A process perspective. Academy of Management Review, 11, 145–163. CrossRef
Jones, E. E., & Nisbett, R. E. (1972). The actor and the observer: Divergent perceptions of the causes of behaviour. In E. E. Jones, D. E. Kanouse, H. H. Kelley, R. E. Nisbett, S. Valins, & B. Weiner (Eds.), Attribution: Perceiving the causes of behaviour (pp. 79–94). Morristown: General Learning Press.
Kelley, H. H. (1967). Attribution theory in social psychology. In D. Levin (Ed.), Nebraska symposium on motivation (pp. 192–238). Lincoln: University of Nebraska Press.
King, D., Dalton, D., Daily, C., & Covin, J. (2004). Meta-analyses of post-acquisition performance: Indications of unidentified moderators. Strategic Management Journal, 25, 187–200. CrossRef
Kusewitt, J. B. (1985). An exploratory study of strategic acquisition factors relating to performance. Strategic Management Journal, 6(2), 151–169. CrossRef
Levitt, B., & March, J. (1988). Organizational learning. Annual Review of Sociology, 14, 319–340. CrossRef
Lubatkin, M. (1983). Mergers and the performance of the acquiring firm. Academy of Management Review, 8, 218–225.
March, J. G., & Sutton, R. I. (1998). Organizational performance as a dependent variable. Organization Science, 8, 698–710. CrossRef
Marks, M. L., & Mirvis, P. H. (2001). Making mergers and acquisitions work: Strategic and psychological preparation. Academy of Management Executive, 15(2), 8094.
Martinko, M. J. (1995). The nature and function of attribution theory within the organizational sciences. In M. M. Martinko (Ed.), Attribution theory: An organizational perspective (pp. 7–13). Delray Beach: St. Lucie Press.
Morosini, P., & Singh, H. (1994). Post-cross-border acquisitions: Implementing national culture compatible strategies to improve performance. European Management Journal, 12, 390–400. CrossRef
Morosini, P., Shane, S., & Singh, H. (1998). National cultural distance and cross-border acquisition performance. Journal of International Business Studies, 29, 137–158. CrossRef
Nahavandi, A., & Malekzadeh, A. R. (1988). Acculturation in mergers and acquisitions. Academy of Management Review, 13, 79–90. CrossRef
Ronen, S., & Shenkar, O. (1985). Clustering countries on attitudinal dimensions: A review and synthesis. Academy of Management Review, 10(3), 435–454. CrossRef
Salancik, G., & Meindl, J. (1984). Corporate attributions as strategic illusions of management control. Administrative Science Quarterly, 29, 238–254. CrossRef
Schaffer, B. S. (2002). Board assessments of managerial performance: An analysis of attribution processes. Journal of Managerial Psychology, 17, 95–115. CrossRef
Schoenber, R. (2004). Dimensions of management style compatibility and cross-border acquisition outcome. Advances in Mergers and Acquisitions, 3, 149–175. CrossRef
Schweiger, D. M., & Goulet, P. K. (2000). Integrating mergers and acquisitions: An international research review. Advances in Mergers and Acquisitions, 1, 61–91. CrossRef
Schweiger, D. M., & Lippert, R. L. (2005). Integration: The critical link in M&A value creation. In G. K. Stahl & M. E. Mendenhall (Eds.), Mergers and acquisitions: Managing culture and human resources, Stanford business books (pp. 17–46). Stanford: Stanford University Press.
Schwenk, C. R. (1990). Illusions of management control? Effects of self-serving attributions on resource commitments and confidence in management. Human Relations, 43(4), 333–347. CrossRef
Shimizu, K., Hitt, M. A., Vaidyanath, D., & Pisano, V. (2004). Theoretical foundations of cross-border mergers and acquisitions: A review of current research and recommendations for future research. Journal of International Management, 10, 307–353. CrossRef
Slangen, A. H. (2006). National cultural distance and initial foreign acquisition performance: The moderating effect of integration. Journal of World Business, 41, 161–170. CrossRef
Stahl, G. K., & Voigt, A. (2008). Do cultural differences matter in mergers and acquisitions? A tentative model and meta-analytic examination. Organization Science, 19, 160–176. CrossRef
Stahl, G., Mendenhall, M. E., & Weber, Y. (2005). Research on sociocultural integration in mergers and acquisitions: Points of agreement, paradoxes, and avenues for future research. In G. Stahl & M. E. Mendenhall (Eds.), Mergers and acquisitions: Managing culture and human resources (pp. 401–411). Stanford: Stanford University Press.
Vaara, E. (2002). On the discursive construction of success/failure in narratives of post-merger integration. Organization Studies, 23, 213–250. CrossRef
Van der Zee, K. I., Van Oudenhoven, J. P., & Bakker, W. (2002). Individual differences in adaptation and wellbeing. In D. Gorter & K. I. Van der Zee (Eds.), Frisians abroad. Leeuwarden: Fryske Akademy Press.
Vermeulen, F., & Barkema, H. G. (2001). Learning through acquisitions. Academy of Management Journal, 44, 457–476.
Very, P., & Shweiger, D. (2001). The acquisitions process as a learning process: Evidence from a study of critical problems and solutions in domestic and cross-border deals. Journal of World Business, 36(1), 11–31. CrossRef
Very, P., Lubatkin, M., & Calori, R. (1996). A cross-national assessment of acculturative stress in recent European mergers. International Studies of Management and Organization, 26, 59–86. CrossRef
Very, P., Lubatkin, M., Calori, R., & Veiga, J. (1997). Relative standing and the performance of recently acquired European firms. Strategic Management Journal, 18, 593–614. CrossRef
Weber, Y. (1996). Corporate cultural fit and performance in mergers and acquisitions. Human Relations, 49, 1181–1202. CrossRef
Weber, Y., Shenkar, O., & Raveh, A. (1996). National and corporate cultural fit in mergers and acquisitions: An exploratory study. Management Science, 42, 1215–1227. CrossRef
Weiner, B. (1979). A theory of motivation for some classroom experiences. Journal of Educational Psychology, 71, 3–25. CrossRef
Weiner, B. (1995). Attribution theory in organizational behavior: A relationship of mutual benefit. In M. M. Martinko (Ed.), Attribution theory: An organizational perspective (pp. 3–6). Delray Beach: St. Lucie Press.
- Managerial Biases in Mergers and Acquisitions
Neuer Inhalt/© Stellmach, Neuer Inhalt/© BBL, Neuer Inhalt/© Maturus, Pluta Logo/© Pluta, Neuer Inhalt/© hww, Voraussetzungen für wirtschaftliche additive Fertigung/© Marco2811 | Fotolia