Loading...
|
Please use this identifier to cite or link to this item:
https://nccur.lib.nccu.edu.tw/handle/140.119/112425
|
Title: | 國家文化與企業跨國併購 National Culture in Cross-border M&A |
Authors: | 陳怡如 Chen, Yi Ju |
Contributors: | 姜家雄 Chiang, Chia-Hsiung 陳怡如 Chen, Yi Ju |
Keywords: | 企業併購 企業跨國併購 國家文化 文化維度 Mergers & Acquisitions (M&As) National culture Cross-borderM&As Hofstede cultural dimensions |
Date: | 2017 |
Issue Date: | 2017-08-31 12:26:43 (UTC+8) |
Abstract: | 文化常被認為是跨國併購失敗的重要原因,許多文化因素在研究與調查中仍屬薄弱。在本論文中,國家文化是衡量跨境併購文化差異的重點,我們使用了Hofstede 六維度來分析兩種家公司併購情況,即使聯想案例文化維度距離高於TCL案例,但聯想理解在最短時間內和解文化差異,聯想最終解決了問題並變成了利潤。研究表明,溝通是必要的,大大提高了併購的成功性,管理層在合併前,文化評估是必要決策收購的成敗的重要因素。 The failure rate of cross-border M&As is still high and culture is often blamed for hampering performance. If substantial research has been devoted to investigating M&As performance, cultural factors remain largely unexplained. In this research, national culture is the focus to measure cultural differences in cross border M&As. we used Hofstede 5 dimensions to analyzes two cases, even though Lenovo case cultural dimension distance is higher than TCL case, but Lenovo understand reconciling cultural differences in the shortest time, Lenovo eventually solved the problems and turn into profit. The studies reveal that communication is a necessity, drastically improving the success of a merger, and a cultural assessment of both fit and potential are important factors for providing direction and guidance for necessary decision making and planning initiatives required by management throughout all stages of a merger or acquisition. The purpose of this conceptual paper is to highlight the tensions generated by national culture in cross-border M&As and Chinese enterprises want to increase the success rate of Cross-border M&As, they have to pay close attention on the cultural problems, make a good cultural assessment and manager the cultural integrating work in the cultural integrating process. |
Reference: | Reference List
Ahamed, Z., Inohara, T., & Kamoshida, A. (2013). The servitization of manufacturing: an empirical case study of IBM corporation. International Journal of Business Administration, 4(2), 18. Alexandridis, G., Mavrovitis, C. F., & Travlos, N. G. (2012). How have M&As changed? Evidence from the sixth merger wave. The European Journal of Finance, 18(8), 663-688. Appelbaum, S. H., Gandell, J., Shapiro, B. T., Belisle, P., & Hoveven, E. (2000). Anatomy of a merger: Behavior of organizational factors and processes throughout the pre-during post stages. Management Decision, 674–687. Appelbaum, S.H., Roberts, J., and Shapiro, B.T. (2009). Cultural strategies in M&As: Investigating ten case studies, Journal of executive education, 2(8), 33–58. Barney, J. B. (1986). Meta‐analyses of post‐acquisition performance: Indications of Unidentified moderators. Strategic Management Journal, 25(2), 187-200. Baskerville, R. (2003). Hofstede never studied culture. Accounting, Organization and Society, 28(1), 1–14. Boland, R. J. (1970). Merger planning: How much weight do personnel factors carry? Personnel, 47, 8–13. Brockhaus, W.L. (1975) A model for success in mergers and acquisitions, S.A.M. Advanced Management Journal, 40-49. Brock, D. M. (2005). Multinational acquisition integration: The role of national culture in creating synergies. International Business Review, 14(3), 269–288. Brock, D. M., Barry, D., & Thomas, D. C. (2000). Your forward is our reverse, your right, our wrong: Rethinking multinational planning processes in light of national culture.International Business Review, 9(6), 687–701. Brogiato, L. (2012). Cross-cultural management integration in M&As (Bachelor`s thesis, Università Ca`Foscari Venezia). Bruche, G. (2010). Tata Motor`s transformational resource acquisition path: A case study of latecomer catch-up in a business group context (No. 55). Bruton, G. D., Oviatt, B. M., & White, M. A. (1994). Performance of acquisitions of distressed firms. Academy of Management Journal, 37, 972–990. Buono, A. F., & Bowditch, J. (1989). The human side of mergers and acquisitions. Human Resource Management, 28(2), 301-304. Calipha, R., Tarba, S., & Brock, D. (2010). Mergers and acquisitions: a review of phases, motives, and success factors. In Advances in mergers and acquisitions (1-24). Emerald Group Publishing Limited. Cartwright, S., & Price, F. (2003). Managerial preferences in international mergers And acquisition partners revisited: How are they influenced? Advances in Mergers and Acquisitions, 2, 81–95. Cartwright, S., & Schoenberg, R. (2006). Thirty years of mergers and acquisitions research: Recent advances and future opportunities. British Journal of Management, 17,S1–S5. Carty, S. S. (2008). Tata Motors to buy Jaguar, Land Rover for $2.3 B. ABC News, Retrieved on April 5, 2017. http://abcnews. go. com/Business/story? id= 4528213&page= 1#. UY6ROLVql60. 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, 9(6), 319-334. Chen, C., & Findlay, C. (2003). A Review of Cross‐border Mergers and Acquisitions in APEC. Asian‐Pacific Economic Literature, 17(2),14-38. Collen, M. F. (2015). Decision support systems (DSS). In The History of Medical Informatics in the United States, 17(2), 685-722 Datta, D. K. (1991). Organizational fit and acquisition performance: Effects of post‐ Acquisition in integration. Strategic Management Journal, 7(12), 281-291 Datta, D. K., Pinches, G. E., & Narayanan, V. K. (2012). Factors influencing wealth creation from mergers and acquisitions: A meta‐analysis. Strategic management journal, 13(1), 67-84. Deal Making (2016) Surprises left in store Citation Retrieved April 18, 2017, from http://financial.thomsonreuters.com/content/dam/openweb/documents/pdf/financial/deal-making-2016.pdf Deng, P. (2010). What determines performance of cross‐border M&As by Chinese companies? An absorptive capacity perspective. Thunderbird International Business Review, 52(6), 509-524. Drucker, P. F. (1981). The fives rules of successful acquisition. Wall Street Journal (October 15), 28. Einhorn, B., Wassener, B., & Reinhardt, A. (2005). No one said building a brand was easy. Business Week, 18-19 Fiordelisi, F. (2014). Mergers and acquisitions in European banking. Springer. Fleming, M. J., & Sarkar, A. (2014). The failure resolution of Lehman Brothers. FlorCruz, Jaime A., and Isabella Ng, "China`s Legend in the Making," Time International, May 15, 2000, 10f. Froese, F.J. & Goeritz, L.E. (2007). Integration management of Western acquisitions in Japan. Asian Business & Management, 6(1), 95-114 Gaughan, P. A. (2013). Mergers, acquisitions, and corporate restructurings. John Wiley & Sons. 17(2), 14-38. He, W., & Lyles, M. A. (2008). China`s outward foreign direct investment. Business Horizons, 51(6), 485-491. Hitt, M. A., Harrison, J. S., & Ireland, R. D. (2001) Hofstede, G., Culture’s Consequences, International Differences in work-related values, News bury Park/CA: Sage Publ.1980. Hodgetts, R. M., Luthans, F., & Doh, J. P. (2006). International management: Culture, strategy, and behavior. McGraw-Hill Companies. Hofstede, G. (1983). National cultures in four dimensions: A research-based theory of cultural differences among nations. International Studies of Management & Organization, 13(1-2), 46-74. Hofstede, G. & Bond, M. H. (1988). The Confucius connection: From cultural roots to economic growth.Organizational Dynamics, (4)16, 4–21. Hofstede, G.,Franke, R. H., & Bond, M. H. (1991). Cultural roots of economic performance: A research notea. Strategic management journal, 12(31), 165-173. Hofstede, G., & Minkov, M. (2010). Long-versus short-term orientation: new perspectives. Asia Pacific Business Review, 16(4), 493-504. Hofstede, G., Neuijen, B., Ohayv, D. D., & Sanders, G. (1990). Measuring organizational cultures: A qualitative and quantitative study across twenty cases. Administrative science quarterly, 51(6), 286-316. House, R. J., Hanges, P. J., Javidan, M., Dorfman, P. W., & Gupta, V. (2004). Leadership, Culture, and Organizations: The GLOBE Study of 62 Societies. Thousand Oaks, CA: Sage Publications. Hunt, J.W, 1990.Changing Patterns of Acquisition Behavior in Takeovers and the Consequences for the Acquisition Process. Strategic Management Journal, 11(1), 69-77 Jemison, D. B., & Sitkin, S. B. (1986). Corporate acquisitions: A process perspective. Academy of Management Review, 11(1), 145–163. Khanna, T., Palepu, K. G., & Bullock, R. (2008). House of Tata: Acquiring a global footprint. King, D. R., Dalton, D. R., Daily, C. M., & Covin, J. G. (2004). Meta‐analyses of post‐acquisition performance: Indications of unidentified moderators. Strategic management journal, 25(2), 187-200. Kirkman, L. B., Lowe, B. K., & Gibson, B. C. (2006). A quarter century of culture’s consequences: A review of empirical research incorporating Hofstede’s cultural values framework. Journal of International Business Studies, 37(3), 285–320. Kitching, J. (1967) Why Do Mergers Miscarry? Harvard Business Review, 6(45), 84-101. Kusewitt, J. B., Jr. (1985). “An Exploratory Study of Strategic Acquisition Factors Relating to Performance.” Strategic Management Journal,6(98) ,151–69. Legler, S., Osborn, E., & Whitehorn, G. 2007 ConocoPhillips–Final Report. Levinson, H. (1970). A Psychologist Diagnoses Merger Failure. Harvard Business Review 48 (2), 139-147. Li, J., & Guisinger, S. (1991). Comparative business failures of foreign-controlled firms in the United States. Journal of International Business Studies,7 (22), 209–224. Li, J., & Pu, X. (2009). Technology evolution in China`s color TV industry. Industry and Innovation, 16 (4-5), 479-497. Liu, C. Z. (2007). Lenovo: An example of globalization of Chinese enterprises. Journal of International Business Studies, 38(4), 573-577. Lubatkin, M. (1983). Mergers and the performance of the acquiring firm. Academy of Management Review,2(8), 218–225. Lubatkin, M.H and Lane, P.J. (1996). The merger mavens still have it wrong! Academy of Management Executive, 10(1), 21-37. Marks, M. L., & Mirvis, P. H. (2011). Merge Ahead: A Research Agenda to Increase Merger and Acquisition Success. Journal of Business and Psychology, 26(2), 161-168. Marks, M. L., & Mirvis, P. H. (2001). Making mergers and acquisitions work: Strategic and psychological preparation. The Academy of Management Executive, 15(2), 80- 92. Marks, M. L., & Mirvis, P. H. (2011). Merge Ahead: A Research Agenda to Increase Merger and Acquisition Success. Journal of Business and Psychology, 26(2), 161-168. Matta, E., & Beamish, P. W. (2008). The accentuated CEO career horizon problem: Evidence from international acquisitions. Strategic Management Journal, 29(7), 683-700. Mayrhofer, U. (2004). The influence of national origin and uncertainty on the choice between cooperation and merger-acquisition: An analysis of French and German firms. International Business Review, 3(13), 83–99. Morosini, P., Shane, S., & Singh, H. (1998). National cultural distance and cross-border acquisition performance. Journal of International Business Studies, 29(1), 137-158. Nahavandi, A., & Malekzadeh, A. R. (1988). Acculturation in mergers and acquisitions. Academy of management review, 13(1), 79-90. Peng, S. (2008). Achieving successful cross-cultural and management integration: the experience of Lenovo and IBM (Doctoral dissertation, Auckland University of Technology). Porter, M. E. (1985). Competitive Advantage: Creating and Sustaining Superior Performance. Free Press, New York. Ramstad, E., & Pringle, D. (2004). Alcatel Shifts Production to China. Wall Street Journal, 5(9). 81–94 Ran, Z. (2008). ‘Dual Different Cultures’ Integration: An Integration Performance Measuring Model of Corporate Cross-border M&A. International Journal of Business and Management, 3(5), 30-34 Rappaport. A. (1979)"Strategic analysis for more profitable acquisitions". Harvard Business Review,3(7), 99-110. Rickey Rogers (2015) MERGERS & ACQUISITIONS REVIEW, Citation Retrieved May 02, 2017, from http://share.thomsonreuters.com/general/PR/MA-4Q15-(E).pdf Rose, Peter S. (1999). Diversification in interstate banking: the search for related performance profiles between acquiring and acquired banking firms expanding across state lines. Managerial Finance, 25(7), 66-85. Rui, H., & Yip, G. S. (2008). Foreign acquisitions by Chinese firms: A strategic intent perspective. Journal of World Business, 43(2), 213-226. Sasaki, T. (1993). What the Japanese have learned from strategic alliances. Long Range Planning, 26(6), 41-53. Schein, E. H. (1996). Culture: The missing concept in organization studies. Administrative science quarterly, 51(6), 229-240. Schein, E. H. (1985). Organizational Culture and Leadership: A Dynamic View. San Francisco: Jossey-Bass. Schweiger, D. M. (2001). The acquisition process as a learning process: Evidence from a study of critical problems and solutions in domestic and cross-border deals. Journal of World Business, 6(10), 11-31. Schweiger, D. M., & Very, P. (2001). International mergers and acquisitions special issue. Journal of World Business, 36(1), 1-1. Schweiger, D. M., & Weber, Y. (1992). Cultural Differences and shareholder value in related mergers: Linking equity and human capital. Strategic Management Journal, 12 (6), 319-334. Schweiger, D. M., Weber, Y., & Power, F. (1989). Strategies for managing human resources during mergers and acquisitions: An empirical investigation. Human Resource Planning, 12(2), 69–87. Seth, A., Song, K.P. and Pettit, R. (2000) Synergy, Managerialism or Hubris? An Empirical Examination of Motives for Foreign Acquisitions of US Firms, Journal of International Business Studies, 31(4), 387-405. Severson, M. A. (1989). The merger and acquisition game into the 1990s. Financial Managers Statement, 11(5), 6–10 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 the future. Journal of International Management, 10(3), 307-353. Shimizu, K. (2003). Theoretical foundations of cross-border mergers and acquisitions: A review of current research and recommendations for the future. Journal of International Management, 10(3), 307-353. Sivakumar, K., & Nakata, C. (2001). The stampede toward Hofstede’s framework: Avoiding the sample design pit in cross-cultural research. Journal of International Business Studies, 32(3), 555–574. Smith, W. K. (1997). Mercer on management: Post-deal management is vital to M&As success. Management Review, 86, S4. Stahl, G. K., & Lengyel, A. (2013). Lenovo-IBM: Bridging Cultures, Languages, and Time Zones Becoming a Global Leader (C). Stahl, G. K., Mendenhall, M. E., & Weber, Y. (2005). 18 Research on Sociocultural Integration in Mergers and Acquisitions. Mergers and acquisitions: Managing culture and human resources, 12(35), 401. Stahl, G. K., & Voight, A. (2008). Do cultural differences matter in mergers and acquisitions? A tentative model for examination. Organization Science, 19(1), 160–176. Soon Young Choi. (2011). Nomura in the two years since its acquisition of Lehman Brothers. Retrieved June 11 2017, from: https://www.kcmi.re.kr/common/downloadw.asp?fid=4527&fgu Teerikangas, S., & Very, P. (2006). The culture–performance relationship in M&As: From yes/ no to how. British Journal of Management,17(35), 31–48. Thomson Reuters (2015) Mergers & Acquisitions Review, Full Year 2015, Financial Advisors,Retrieved June 12 2017, from: http://share.thomsonreuters.com/general/PR/MA-4Q15-(E).pdf. Tsuneyoshi, R. (2004). The ‘new’foreigners and the social reconstruction of difference: the cultural diversification of Japanese education 1. Comparative Education, 40(1), 55-81. Very, P., Lubatkin, M., & Calori, R. (1996). A cross-national assessment of acculturative stress in recent European mergers. International Studies of Management & Organization, 26(1), 59-86. Weber, Y., & Schweiger, D. (1992). Top management culture conflict in mergers and acquisitions: A lesson from anthropology. International Journal of Conflict Management, 3(4), 285–302. Wiggins, R. Z., Tente, N., & Metrick, A. (2015). European Banking Union C: Cross-Border Resolution–Fortis Group. World Investment Report (2016) Citation Retrieved April 28, 2017, from http://unctad.org/en/Pages/DIAE/World%20Investment%20Report/World_Investment_Report.aspx Wu, Z., & Zhu, Y. (2010). Determinants of Success of Cross Border M&As from Emerging Markets-A Case Study of TCL and Videocon. |
Description: | 碩士 國立政治大學 亞太研究英語碩士學位學程(IMAS) 103926015 |
Source URI: | http://thesis.lib.nccu.edu.tw/record/#G0103926015 |
Data Type: | thesis |
Appears in Collections: | [亞太研究英語博/碩士學位學程(IDAS/IMAS)] 學位論文
|
Files in This Item:
File |
Size | Format | |
601501.pdf | 1746Kb | Adobe PDF2 | 65 | View/Open |
|
All items in 政大典藏 are protected by copyright, with all rights reserved.
|