Chapter

Silent Forces Shaping the Performance of Cross-Border Acquisitions

Satu Teerikangas

in The Handbook of Mergers and Acquisitions

Published in print June 2012 | ISBN: 9780199601462
Published online September 2012 | e-ISBN: 9780191743320 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780199601462.003.0021
Silent Forces Shaping the Performance of Cross-Border Acquisitions

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This chapter extends prior research in the field of mergers and acquisitions (M&A) by focusing on the management of cross-border acquisitions. Using a qualitative grounded theory approach and basing the findings on the study of nine acquisitions totalling 166 interviews, this chapter proposes an integrative perspective on the management of cross-border acquisitions. This perspective sheds light on the hidden dynamics of M&A progress and performance by taking into account the “silent forces” therein. Silent forces relate to the behavioral, human, and cultural dimensions of M&A activity. The findings highlight that these factors often fail to came to the attention of the managers concerned. Whilst strategic, structural, and financial factors are regularly attended to in acquisitions, it is argued that the difficulty experienced in making acquisitions work, progress, and perform stems from the frequent neglect of the less visible dimensions.

Keywords: M&A; cross-border acquisition; integration; performance; culture

Chapter.  10879 words.  Illustrated.

Subjects: Financial Institutions and Services

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