Index
Page numbers in italics denotes a table/figure
absorption: as an integration approach 224, 236
absorptive capacity 265; relative 265
acculturation theory 81, 83, 86, 146–147, 151, 215; and Chinese cross-border M&As 75, 76, 81
acquisition experience 240–251; benefits and problems 242–245, 249; experience fit perspective 242–245; experience knowledge transition perspective 248–249, 248; and integration 246; and learning curve perspective 241, 242, 243; managerial implications 250–251; and performance 241, 248, 249; process perspective 245–246, 245, 250; research implications 249–250; structural perspective on non-organic growth 246–248; survey data 242; and transfer theory perspective 249–250
adopt-and-go approach: HP-Compaq merger 211, 213, 215, 217
alliances, strategic see strategic alliances
Alpha-Beta acquisition 190–194; comparisons between past and present 191; comparisons of the pre-merger identities on a functional level 191; cultural cross-vergence 192–194; leadership 192–193; making sense of conflicting identities on a normative level 191; multiple shared identities 190–191; objectives 189–190; organization 193–194; strategy 192; work-related outcomes after acquisition 194
ambicultural management 189
Anand, B.N. 257
Anand, J. 22
Armenakis, A.A. 223
Ashforth, B.E. 169
Ashkanasy, N.M. 126
Australia 126–127; and higher education institution mergers 48, 49, 50, 51–52
autonomy 20, 55, 60, 140, 205; and Merck-Lexigen merger 104, 106, 108, 110–111
Aw, M. 16
banking sector 222–237 see also Hansabankas-LTB merger
Baron, R.M. 174
Bartels, J.D. 166, 167, 169–170, 173, 174
Bastien, D.T. 205
Bedeian, A.G. 223
bias, inter-group 165
biotechnology industry: rise in M&As and reasons 95–96, 115
Björkman, I. 127
Blekinge Hospital (Sweden) 57
Blöcher, A. 202
Boateng, A. 18
Boeker, W. 257
Bowditch, J.L. 225
Bowick, Susan 217
Bradfield, R. 98
Bradley, M. 22
Brandling, Paul 213
Brazil 128
Brealey, R.A. 36
Bresman, H. 28
Brewer, M.B. 187
bridgehead strategy 247
Buono, A. 225
Calipha, R. 227
Callan, V.J. 164
capabilities: dynamic 266; strategic alliances and organizational 264–267
Carleton, Robert 5, 199, 201–202
Cartwright, S. 200
case studies: use of in research 98
change: low toleration for 204; reasons for resistance to 202, 204; see also cultural change
change management 223–224, 236–237
Chatterjee, R. 16
Chen, M.-J. 189
China: going-out strategy 72; higher education institution mergers 49, 52; investments in Germany 73; outward foreign direct investment (OFDI) and destination of 69, 69, 70
Chinese cross-border M&As 19, 69–89; and acculturation theory 75, 76, 81; challenges 70; country context 79; decision and organizational integration 83–84; and development of OFDI 71–74; and eclectic theory 74, 75, 76, 78, 86; and employee expectations 87; and employee resistance 80–82, 87; features and motives of 72–73; and Germany 73; and human integration 81–82; human and organizational integration and performance 84–85; influence of government 76–78, 85, 86, 87; and integration 81–82, 83–84, 86–87; ‘light-touch integration’ 76, 81–82, 83, 86, 87; limitations and avenues for future research 88–89; managerial implications 87; motivations for 78–79, 85; percentage of OFDI 69; policy implications 86–88; post-merger phase 80–85, 86; practical implications 86–88; pre-merger phase 76–79; strategic fit 84, 85, 88; theoretical implications 85–86; trust-building actions 82–83, 85, 88; see also Sany-Putzmeister acquisition
Chinese multinational enterprises (CMNEs) 20
Chinese subsidiaries in Europe 189–194 see also Alpha-Beta acquisition
Citigroup 125
Clean Room model: HP-Compaq merger 209, 211, 215, 216, 217
Coase, R.H. 267
collective rumination 123
commitment, organizational 146
communication 152, 225; and Alpha-Beta case study 194; employee 164–165, 166–167, 171, 172–174, 175–177; and HP-Compaq merger 216; and human resource management (HRM) 130, 150, 152; merger see merger communication; setting expectations via 147–149; and sociocultural post-merger integration management 205, 216
communication climate 165, 174, 176
competitive advantage 74, 122, 123, 138, 142, 162; and Chinese MNEs 20; and human resource management (HRM) 151, 226; and organizational routines 266; and resource-based view 263; and Sany-Putzmeister acquisition 79, 84, 85
conflict: cultural 49, 81, 141, 201, 202, 218; organizational 144–145; post-merger 224
Cooke, F.L 132
Cool, K. 263
Cooper, C.L. 200
corporate culture 131, 149, 201, 205; Alpha-Beta case study 193; difficulties in integrating different 202; dimensions of 227; and HP-Compaq merger 212, 213, 213, 214, 215; need for understanding of 206
Correia, M.F. 129
counselling 131
Cranet survey (2005) 129
Cronbach’s alpha 169
cross-border M&As 122–123; and acculturation theory 75, 76; challenges 76; Chinese 69–89; cultural change and managing of 76, 130–131; cultural differences 126; and diversification 21, 26, 28, 30, 30; and eclectic theory 74, 75; motives see motives (for cross-border M&As); multiple shared identities 182–195; poor performance of 16–17; rise in 16
cross-cultural convergence 188–189, 192–194
cross-cultural management 125–127
Cui, L. 19
cultural assimilation 147
cultural change: and cross-border M&As 76; and human resource management 130–131
cultural conflict 49, 51, 141, 201, 202, 218
cultural cross-vergence 188–189; Alpha-Beta example 192–194
cultural differences 125–127, 131, 133, 141, 147, 162, 184, 186, 201, 227; and Hansabankas-LTB merger 236; and HP-Compaq merger 212, 213; impact of on change readiness 227; Merck-Lexigen merger 107–108; and merger communication 175, 175, 176; and post-merger identification 163–164, 165–166, 167–168, 171, 175, 175, 176; and post-merger integration 96–97, 141
cultural distance 127, 183, 185–186, 188
cultural due diligence (CDD) 199–218; customised 201–202; definition 201–202; link between sociocultural post-merger integration management 206; concept and methodology 206–208, 207, 218 see also HP-Compaq merger; literature review 200–202; off-the-shelf 201–202; process model 202, 203
cultural incompatibility 200
cultural integration 147, 152; HP-Compaq’s strategy 215
Cultural Integration Team: HP-Compaq merger 211–213, 212
cultural pluralism 147
cultural transformation 147
culture 226–227; definition 186, 226; and human resource management (HRM) 225–227; organizational see organizational culture
Curall, S.C. 225
Daimler-Chrysler merger 126
Dameron, S. 126
Danzon, P.M. 98
Deng, P. 19
Denmark: hospital mergers 54, 57
Dierickx, I. 263
discounted cash flow method (DCF): and strategic alliances 269–272
discourse analysis 141
distributive justice 123–124, 145, 152
diversification: and cross-border M&As 21, 26, 28, 30, 30
Dopson, S. 223
downsizing 131
Dutch dairy firm merger 168–177
Dyer, K. 266
dynamic capabilities 266
eclectic theory: and Chinese cross-border M&As 74, 75, 76, 78, 86
economic theory, and public sector mergers 46
education 205
El-Sayed, H. 98
EMD Pharmaceuticals 99, 104, 105–106, 107, 109, 110, 111, 112, 112
emerging countries multinational companies (EMNCs) 19–20
Emmens, Matthew 105
employee communication 164–165; and post-merger identification 166–167, 171, 172–174, 175–177
employee expectations: and Chinese cross-border M&As 87
employee resistance: and Chinese cross-border M&As 80–82, 82
employee selection: Hansabankas-LTB merger 233–234
employees: commitment of 124–125; and financial incentives 143–145, 151; and knowledge sharing 143; motivating behaviors of by HRM 142–144; and post-acquisition identity 144–146; selection and retention of 143; and sensemaking theory 151, 153; and setting expectations 148; and shared identity 162; and uncertainty 115, 123, 131, 133, 150, 164–165
employment relations: and trade union negotiation 132–133
entry barriers 260
Erez-Rein, N. 5
Estonian banks 222 see also Hansabankas-LTB merger
Europe: Chinese subsidiaries in 189–95
European cross-border M&As: strategic motives for 31–33, 31–32
event study method 274–275, 275
ex post assessments: of senior managers’ opinions 8
expectations: setting of via communication 147–149
experience, acquisition see acquisition experience
explicit acquisition knowledge 248, 250
exploratory factor analysis (EFA) 29
Fast-Start programme: HP-Compaq merger 213–214, 216
FCF (free cash flow) method 270–271
Feldmann, M.L. 204
Fernández, P. 270
financial call option 273, 273
financial incentives 143–145, 151
financial synergies 269
financial valuation literature: and strategic alliances 268–275
Finland 128–129; hospital mergers 54, 57–58, 60
five forces model (Porter) 261
force-field theory 206
foreign direct investment (FDI) 189
foreign market entry: cross-border M&As and facilitation of faster 17–18, 26, 27
France Telecom Mobile, merger with Orange UK 126
free cash flow see FCF
Ganster, D.C. 7
Gao, G.Y. 184
General Electric (GE) 240
Germany: and Chinese cross-border M&As 73; Chinese investments in 73; hospital mergers 125
Ghauri, P.N. 20
Gillies, Stephen 106, 111, 112, 114
Glaister, K.W. 8
globalization 223
Goedegebuure, L. 48
Gomes, E. 76, 95, 129, 130, 200, 206
Gonzalez-Duarte, R. 128
Granstrand, O. 27
Haleblian, J. 44
Hansabank/Hansabank Group 228–229
Hansabankas: founding 228
Hansabankas-LTB merger 228–236; background 228–231; challenges of the post-merger integration process 232–235; creation of new structure 233–234; and cultural differences 236; and development of Lithuanian managers 232; employee selection 233–234; and human resource management 233, 234–235, 236; and internal communication 232–233, 235
Harman, G. 50
Harman, K. 50
Harvard model of HRM 226
Haspeslagh, P.C. 96, 141, 200, 205, 206, 215
Hatch, N.W. 266
Hewlett-Packard see HP-Compaq merger
higher education institution mergers 45, 47–53, 59–61; and academic activities 51; and administration 51; attitudes of staff 53; challenges 48–49; and economics 51; effects and outcomes of 51–53, 61; process 48–51, 60–61; rationales and drivers 47–48, 60; and social identity approach 50; staff perceptions 49; typology 48; voluntary and forced 48, 50
Hill, P.C. 28
Hinkin, T.R. 169
Hoang, H. 257
Hofstede, G. 186, 226–227, 236
hospital mergers 45, 53–61; effects and outcomes 57–59, 61; process 55–57, 60–61; rationale behind 53–54
HP-Compaq merger 208–218; adopt-and-go approach 211, 213, 215, 217; Clean Room model 209, 211, 215, 216, 217; and communication 216; cultural integration strategy 215; Cultural Integration Team 211–213, 212; Fast-Start programme 213–214, 216; link between CDD and PMI 215–217; major cultural differences 212, 213; Noah’s Ark model 211, 215, 216; overview 208–209; retention of key people 217; speed of integration 216–217; timeline 210; and trust 216; values and objectives of the new HP 214
Huang, K. 132
Hubbard, N. 205
Huberman, A.M. 98
human capital: enabling of to contribute to M&A success 142, 153
human integration: and Chinese cross-border M&As 81–82
human resource management (HRM) 122–134, 222–223, 224–225; and acculturation 146–147; and ambiguity 150; avenues for future research 134; and communication 130, 150, 152; and competitive advantage 151, 226; critical contingency factors in implementation in M&As 149–150; cross-cultural management 125–127; and cultural integration 147, 152; and culture in M&As 225–227; dealing with post-merger conflict 224; definition 225–226; and development of human capital 142; and employee motivation 142–144; employment relations and trade union negotiation 132–133; facilitating post-acquisition identification 144–146; factors influencing the role of the HR function 128–129; future research 153–154; and Hansabankas-LTB merger 233, 234–235, 236; harmonization and transfer of practices 132; Harvard model 226; HR centrality 149; HR power 149–150; interim practices 133; key challenges from M&As 124–127; key contributions to effectiveness of 138–139; leadership/management development 130; managing cultural change 130–131; managing and integration of organizational culture 125–127, 146–147; Michigan model of 226; organizational identity and employee commitment 124–125; and organizational sensemaking 147–149, 152; resource-based view 142–144; role of in M&A integration 151; role of in M&As 127–133, 141–154; social identity theory 144–146, 151; staffing issues 131; strategic alignment 129–130; training and counselling 131
identification: facilitating post-acquisition 144–146; post-merger see post-merger identification, see also social identity theory/social identification
identities, multiple shared see multiple shared identities
impression management 7
in-group favouritism 167
India: and cross-border M&As 20
individualism-collectivism dimension 226, 227
Ingham, H. 27
Inpeken, A. 225
integration: and acquisition experience 246; approaches 224; and Chinese cross-border M&As 81–82, 83–84, 87; organisation of process of in Merck-Lexigen merger 108–110; of organizational culture 125–127; post-acquisition 139–141; socio-cultural 140; task-related 139–140, 153, see also cultural integration; organizational integration; post-merger integration
integration manager 143
integration teams 143
internal communication: and Hansabankas-LTB merger 232–233, 235
international expansion, facilitation of by cross-border M&As 27
Irrmann, O. 126
Israel 20
Jansson, K. 32
Japan 126; post-merger communication 225
Jemison, D.P. 96, 141, 200, 205, 206, 215
Joffre, O. 126
Johansson, S. 35
justice: distributive 123–124, 145, 152; organizational 146; procedural 123–124, 145, 152
Kaeser, Joe 246
Kang, N. 35
Karolinska University Hospital (Sweden) 53, 56
Karunaratne, C. 125
Kavanagh, M.H. 126
Kenny, D.A. 174
Khanna, T. 257
King, D.C. 241
knowledge: explicit 248, 250, 264–265; tacit 264–266
knowledge integration capability 224
knowledge transfer/sharing 143, 151, 226; and Merck-Legigen merger 112
knowledge transition: and acquisition experience 248–249, 248
knowledge-based view (KBV) 264–267; application to alliances 265–267; tacit and explicit knowledge 264–265
Kohli, R. 20
Korean company 125
Kotter, J.P. 202, 204, 205, 206, 216
Kroon, D.P. 164, 166, 169, 176
Kumar, N. 258
Langmann, Hans Joachim 103
Larsson, R. 98
Latvia 222
layoffs 143
leadership 130, 225; Alpha-Beta case study 192–193
leadership style: effect on talent retention 226
learning, strategic alliances and organizational 264–267
Lenovo: acquisition of IBM 76
Lewin, K. 206
Lexigen Pharmaceuticals Corp.: profile and history 100, 102, see also Merck-Lexigen merger
Li, M. 88
Liang, Wengen 82
Lithuania 227
Lithuanian Savings Bank (LTB): management practices 230–231; privatization of by Hansabank 228–232; see also Hansabankas-LTB merger
M&As (mergers & acquisitions): advantages 95; challenges 138; drivers for 95; factors determining success or failure 138; failure of and reasons 5, 162, 199; growth in numbers 5, 240; motivations for European 5–13; motives for cross- border 16–39; phases 245; political and socio-psychological dimensions of 123–124; see also cross-border M&As
McCann, J.E. 35
Mael, F. 169
Maguire, S. 125
Makino, S. 78
management: cross-border M&As and improved 21; cross-cultural 125–127
managerialism hypothesis: and cross-border M&As 22–23
managers: and acquisition experience 250–251
Mann, B.J. 20
manufacturing: strategic motives for cross-border M&As 24, 33–36, 34
market power: cross-border M&As and increase in 18–19, 26, 29, 30
market-based view (MBV) 260–262; application to strategic alliances 262; mobility barriers 260; and Porter’s five-forces model 261; strategic groups 260–261
Martin, X. 18
masculinity–femininity 226
Meek, L. 48
Merck-Lexigen merger 99–115; acquisition process and motives 103–104; analysis of 110–115; cultural differences 107–108; cultural gap 112–113; employee uncertainty 115; gains for each side 114; gap between the structure and thinking of big and small pharma 113; knowledge transfer 112; motives for 110–111; organization of the integration process 108–110; organizational integration 104–108, 110–111, 114–115; personnel integration 110, 114; relationships between 112; responsibilities 111, 115; strategy-making 111; value chain and center of excellence perspective 113, 114
Merck: organizational structure 101; origins and development 99; pharmaceutical sector 100; profile 99–100
merger communication 165, 177; and cultural differences 175, 175, 176; and post-merger identification 167–168, 173, 174, 175
merger syndrome 80
mergers & acquisitions see M&As
Mergers and Acquisitions Database (Thomson One Banker) 24–25
Michigan model of HRM 226
Miles, M.B. 98
Miller, D. 189
mobility barriers: and strategic groups 260
Monin, P. 98
motives (for cross-border M&As) 16–39, 78; access and acquisition of new resources and technology 19–21, 26, 27–28, 30, 30; diversification 21, 26, 28, 30, 30; facilitation of faster entry into foreign market 17–18, 26, 27; facilitation of international expansion 26, 27, 29, 30; factor analysis of strategic 28–30, 29–30; findings 26–28; hypothesis 23–24; improvement management 21; increase in market power 18–19, 26, 29, 30; and industry of operation 24; literature review 17–23; managerial 22–23; methodology 24–25; origin of the target frim 23, 31–33, 32, 38; overcoming regulatory restrictions 26, 28, 38; and pre-acquisition performance of foreign firms 24, 36–38, 37, 39; presence in new markets 26, 27; relative importance of strategic 26–28, 26; and resource-based view 26–27, 38; and sample characteristics 31–38; and sector of acquisition 24, 33–36, 34, 38–39; and strategic positioning 26–27, 38; synergy 22, 26, 29, 30; target improvement 29, 30; and tax savings 26, 28, 38
motives (for European M&As) 5–13; differences between secondary and primary data 11, 11, 12–13, 12; and ex post assessments of senior managers’ opinions 8, 13; findings 11–12, 11, 12; and hypothesis development 8–9; literature review 6–8; research method 9–11; sample characteristics 10, 10; and social desirability bias 6, 7–8
multiple shared identities 182–195; Chinese subsidiaries in Europe illustration 189–194; cross-cultural convergence 188–189; and cultural distance 185–186; definition 187; nature of 187–188; relationships between 188; and social identity complexity 187
Neumann, J.E. 223
Ng, I. 7
Nicholson, R.R. 19
Nigerian bank mergers 129, 130
Noah’s Ark model: HP-Compaq merger 211, 215, 216
Nordic countries: and hospital mergers 53–54, 55–56, 57–58; public sector mergers 59–60; see also individual countries
North American cross-border M&As: strategic motives for 31–33, 31–32
Norway: hospital mergers 54, 55–56, 57–58
Norwegian labour and welfare administration (NAV) 46–47
Nutt, P.C. 223
Nyaw, M.-K. 7
operating routines 266
Orange UK 126
organization theory: and public sector mergers 46
organizational capabilities: and strategic alliances 264–267
organizational change 223, 223–224
organizational commitment 146
organizational culture 141, 152, 163, 164, 188; integration of 125–127; managing post-acquisition 146–147
organizational identification/identity 124–125, 133, 144, 162–163, 177, 183
organizational integration: and Chinese M&As 83–85, 88; and Merck-Lexigen merger 104–108, 110–111, 114–115; and Sany-Putzmeister acquisition 83–85
organizational learning: and strategic alliances 264–267
organizational routines 266
organizational sensemaking 141, 147–149, 151, 152, 153
O’Toole 215
outplacement 143
Park, B. 20
Park, Y.R. 18
parochial self-interest 202
Paulhus, D.L. 7
Penrose, E.T. 263
performance: and acquisition experience 241, 248, 249; target firm and pre-acquisition 24, 36–38, 37, 39
Peterson, M.W. 52
pharmaceutical and biotechnology industries:, post-merger integration 95–118; see also Merck-Lexigen merger
Phillips, N. 125
Porter, M.E. 22, 260, 261, 262
post-acquisition identification: facilitating of 144–146
post-acquisition integration 139–141
post-merger identification 162–179; and communication climate 165, 174, 176; and cultural differences 163–164, 165–166, 167–168, 171, 175, 175, 176; definition 164; and employee communication 166–167, 171, 172–174, 175–177; limitations of study and suggestions for future research 177; and merger communication 167–168, 173, 174, 175; results of study 170–175, 172, 173; study methodology 168–170
post-merger integration: and cultural differences 96–97, 141; keys success factors and challenges 97; review of literature 96–98; sociocultural factors determining outcomes 97
post-merger integration (pharmaceutical/biotechnology industries) 95–118; key success factors and challenges 97–98; obstacles 115; and personnel integration 116; practical framework for 115–118, 117; research design 98–99; see also Merck-Lexigen merger
power distance 226
Pritchard, R.M. 53
procedural justice 123–124, 145, 152
process learning perspective: and acquisition experience 250
projected continuity 145
public choice theory 59
public sector mergers 44–62; avenues for future research 62; ‘black box’ of 48, 61; and economic theory 46; effects 61; lessons learned 59–61; occurrence in waves and phases 59; and organization theory 46; problems faced 46–47; rationale behind 46, 60; resource dependencies issue 60; rise of 61; see also higher education institution mergers; hospital mergers
Pucik, V. 125
Purcell, L. 205
Putzmeister-Sany case see Sany-Putzmeister acquisition
Ravasi, D. 164
real options methods 272–274, 273
regulatory restrictions: cross-border M&As and overcoming 26, 28, 38
relative absorptive capacity 265
rerecruitment 205
resource-based view (RBV) 139–140, 151, 262–264; application to alliances 264; definition 262–263; enabling of human capital to contribute to M&A success 142–144; and motives of cross-border M&As 26–27, 38; origins 263; strategic resources 263
resources: cross-border M&As and access/acquisition of new 19–21, 26, 27–28, 30, 30
retention of key people 205; HP-Compaq merger 217
Reuer, J.J. 274
reverse internalisation 22
Riad, S. 141
Roccas, S. 187
Rostand, A. 16
Rothaermel, F.T. 257
Rowley, G. 52
Rui, H. 19
Salaber, J. 19
Sany Heavy Industry Group 73, 73, 77
Sany-Putzmeister acquisition 71, 73–74, 73, 79, 86; decision and organizational integration 83–84; employee resistance 80–81; human and organizational integration and performance 84–85; motivations behind 78; strategic fit 84; trust-building actions 82
Schein, E.H. 200
Schlesinger, L.A. 202, 204, 205, 206, 216
Schneck, O. 202
Schroeder, H. 133
Schultz, M. 164
sector of acquisition: strategic motives and 33–36, 34
self-categorization theory 163–165, 183, 187
self-deceptive enhancement 7
self-determination theory 150
self-report questionnaires 6
sensemaking, organizational 141, 147–149, 151, 152, 153
service sector: strategic motives for cross-border M&As 24, 33–36, 34
Seth, A. 21
Shanghai Automotive Industry Corporation (SAIC): acquisition of South Korean Ssangyong Motor Company 132–133
shared identity(ies) 182; cross-border M&As and multiple 182–195; and employees 162
Shenkar, O. 81
Siemens: acquisitions by 241
Singh, H. 22
Sirower, M.L. 21
Sjolander, S.E. 27
Skodvin, O.J. 51
social desirability bias 6, 7–8
social desirability response (SDR) scales 7–8
social identity theory/social identification 140–141, 151–152, 151, 153, 163–164, 176, 187; and higher education institution mergers 50; implications for cross-border M&As 183–184; and self-categorization theory 163–164
socialization programs, formalized 143
sociocultural factors 44
sociocultural post-merger integration management 202–206; and communication 205, 216; link with cultural due diligence 206; reasons for resistance to change 202, 204; retention of key people 205, 217; speed of integration 204, 216–217; trust 204, 216; see also HP-Compaq merger
socio-cultural integration 140
South Africa 49; higher education institution mergers 49, 52
Spector, P.E. 177
speed of integration 204; HP-Compaq merger 216–217
Spratt, M.F. 204
Sri Lankan bank mergers 125
staffing issues 131
strategic alliances 254–278; capability 266–267; comparison with acquisitions 259; definition 255; and discounted cash flow method (DCF) 269–272; event study method 274–275; failure of and reasons 285–289; and financial valuation literature 268–275; knowledge-based view (KBV) 264–267; location of 255–256; market-based view 260–262; motives for forming 256–257; number of 256; and organizational capabilities 264–267; real options methods 272–274; resource-based view 262–264; review of studies of value creation 275, 276–277; significance of 256; and strategy literature 259–268; transaction cost approach 267–268; and value creation 257–258, 265, 275, 276–277
strategic fit 139–140; and Chinese cross-border M&As 84, 85, 88
strategic groups 260–261; competitive rivalry between 261; and mobility entry barriers 260
strategic positioning: and motives (for cross-border M&As) 26–27, 38
strategy literature: and strategic alliances 259–268
Struckman, C.H. 223
Sudarsanam, P.S. 21
Sweden: higher education mergers 60; hospital mergers 53–55, 56, 60
symbiosis: as an integration approach 215, 224, 236
synergy: and cross-border M&As 22, 26, 29, 30
tacit acquisition knowledge 248, 250
tacit knowledge 264–265; and strategic alliances 264–266
talent retention: effect of leadership style on 226
Tamjärv, Hannes 228
Tanure, B. 128
Tarba, S.Y. 96–97, 131, 134, 226
target firms: strategic motives and improvement of 29, 30; strategic motives and pre-acquisition performance of 24, 36–38, 37, 39; strategic motives and origin of 31–32, 32, 38
Tartu Commercial Bank 228
task-related integration 139–140, 153
tax savings: and motives (for cross-border M&As) 26, 28, 38
technology: cross-border M&As and access/acquisition of new 19–21, 26, 27–28, 30, 30
Teerikangas, S. 126, 127, 128, 131, 134
Thompson, A. 58
Tong, T.W. 274
trade union negotiation, and employment relations 132–133
transaction cost approach 267–268
transfer theory perspective: and acquisition experience 249–250
transformation: as integration approach 224
Trautwein, F. 22
trust 204, 225; definition 204; and HP-Compaq merger 216; lack of 202–203
trust-building actions: and Chinese cross-border M&As 82–83, 85, 88; and Sony-Putzmeister 82
Uddin, M. 18
Ullrich, J. 145
uncertainty avoidance 226, 227
uncertainty, employee 115, 123, 131, 133, 150, 164–165
United Kingdom: higher education institution mergers 49, 52; hospital mergers 54, 56, 57–58
United States: hospital mergers 53, 55, 58–59
universities see higher education institutions
University Hospital of North Norway 56
‘us versus them’ thinking 140, 152, 164
valuation: and discounted cash flow method (DCF) 269–272; event study method 274–275; real options methods 272–274; strategic alliances and financial 268–275
value 268
value chain 261
value creation: and strategic alliances 257–258, 265, 275, 276–277
Vester, J. 204
Voigt, A. 202
Walton, Elise 212
Wan, Y. 52
Weber, Y. 96–97, 131, 134, 141, 223, 224, 225, 226, 227
Weston, J. 28
Wickramasinghe, V. 125
Wilkins, A. 59
Williamson, A.P. 53
Yammarino, F.J. 223
Yin, R.K. 98
Yip, G.S. 19
Yiu, D.W. 78
Zhang, J. 226
Zheng, N. 20