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The purpose of this paper is to provide a quantitative integration of the existing empirical body of literature on culture and acquisition performance.

The study is based on a meta-analytical approach that synthesizes 189 effect sizes from 24 independent samples with a total sample size of n=5,496 acquisitions.

This meta-analytical study found a consistently negative and significant relationship between organizational cultural differences and acquisition performance, and a dual effect of national cultural differences (i.e. cultural distance) on acquisition performance. It further identified significant methodological and contextual moderators and discusses the implications for acquisitions in emerging markets.

Due to the nature of meta-analyses, this study is based on existing (i.e. available secondary) data. Future research may collect novel, primary data to further test the conceptual model and respective relationships developed therein.

This study sheds light onto the culture-based performance determinants of acquisitions and the effects of methodological and contextual moderator variables. Given the significant importance of acquisitions across organizational and national cultures, the findings may inform business practitioners when developing sustainable strategies to successfully integrate organizations that are culturally different and/or are located in culturally diverse environments.

A better understanding about the culture-based performance determinants of acquisitions may inform public policy makers about how to regulate and set incentives for acquisitions, which constitute a main vehicle through which firms undertake foreign direct investment, and which can be considered a global sustainable growth strategy for multinational corporations and entire economies.

This paper is original in that it provides a large-scale and in-depth quantitative integration and synthesis of the empirical literature on culture and acquisition performance based on a meta-analytical approach and so has important theoretical value and empirical implications for future emerging market research.

The purpose of this paper is twofold: first, to examine the impact of organizational culture differences on post-acquisition performance, and second, to provide deeper understanding of the mechanisms through which the impact occurs introducing into the analysis the mediating effect of employee attitudes.

The sample is based on domestic and international acquisitions in Serbia carried out during the period 2002-2011. Linear regression models were fitted according to Baron and Kenny procedures for mediation analysis. Statistical significance of the indirect or mediated effect is calculated by using the bootstrap test.

The results show that organizational culture differences positively impact post-acquisition performance. Moreover, employee attitudes are found to be a partial mediator of the relationship between culture differences and post-acquisition performance.

The presented results are especially useful for managers involved in the processes of acquisitions indicating that culture differences, if properly understood and managed, can be a source of value creation. Further, the results of the analysis indicate that managers must monitor and evaluate employee attitudes towards changes and help employees to face the challenges of change, thereby contributing the improvement of post-acquisition performance.

Previous research of organizational culture differences in transitional economies is limited, and this study is the first empirical investigation of the impact of organizational culture differences on post-acquisition performance in Serbia. This paper aids researchers and practitioners to identify the specific cultural challenges in the context of transitional economies.

This chapter aims to make sense of the growing research that examines the role of culture in mergers and acquisitions. We provide a detailed review of the many related but distinct constructs that have been introduced to the literature. While each construct has contributed to our understanding of the role of culture, the lack of connections made among constructs has limited the consolidation of contributions. The review shows what these constructs mean for mergers and acquisitions, what major findings have been discovered, and, most importantly, how constructs interrelate. Our discussion provides several opportunities to foster the needed consolidation of this research.

Different forms of inter-organisational encounters, including joint ventures, alliances, mergers and acquisitions, have over the last decades become fashionable and much-sought means of globalisation. A continuous concern shared by managers involved in these different forms of inter-organisational encounters is the challenge of making them work in practice – their successful implementation and management. The cultural dimensions of these different kinds of inter-organisational encounters, particularly in cross-border contexts, have been deplored as being particularly difficult. This paper builds on prior research and aims to understand how the cultural dimensions of inter-organisational encounters have been approached by researchers on mergers and acquisitions on the one hand and researchers on alliances and joint ventures on the other hand. Based on a comparative literature review, the findings suggest that the two fields, despite their valuable contributions and the similarities in the phenomena they study, have remained surprisingly isolated from one another and would offer opportunities for cross-fertilisation. Through its theoretical contribution, the paper intends to offer insights to researchers in both streams of research.

While there is an increasing understanding of the challenges that can emerge in integration processes of cross-border mergers and acquisitions, there is a scarcity of research on how the different integrative activities should be temporally sequenced. Based on an in-depth analysis of three acquisitions, we find that structural and cultural integration are intertwined. We find that cultural integration will begin only once structural integration is in progress. Cultural differences can, however, impede structural integration if structural integration is done in conflict with the existing culture of the acquired company. Thus, structural integration should come first, but it should be done in appreciation with the acquired company’s existing culture. Cultural change is then facilitated in an iterative manner over time by the new structure. Our chapter contributes to an improved understanding of the temporal dynamics of integration by demonstrating the mutually reinforcing effects of structural and cultural integration in cross-border acquisitions.

Postmerger integration processes have been studied from the perspectives of organizational identity and organizational culture, but these two perspectives have rarely been integrated. We argue that organizational identification and organizational culture differences give rise to two different sets of individual responses that are both important, but for different types of outcomes. An empirical analysis of a large-scale merger between two service sector companies shows that identification with the postmerger organization positively relates to both behavioral intentions and key attitudinal variables. In contrast, our results show that perceived organizational culture differences are negatively related to attitudinal variables. The effect of perceptions of cultural differences on behavioral intentions is mediated by organizational identification.

This theoretical research endeavors to find common ground in the ostensibly inconsistent results of studies on the impact of cultural similarities and differences on strategic partnerships. Some findings suggested that partners have to possess similar cultural characteristics in order to achieve success, while others showed that cultural distance had a positive effect on efficiency and the competitiveness of partnerships. I systematically analyze the equivocal evidence of influence of both commonalities and differences on partnerships' outcomes, highlighting conditions under which they can be either beneficial or dysfunctional. Several propositions are formulated in regard to the role of qualitative and quantitative differences in both organizational and national cultures. Further, the theoretical and practical implications are also discussed.

This paper signals departure from a theoretical perspective on organizational culture in mergers and acquisitions based on a binary opposition between coherence and pluralism. The paper aims to outline another, dialogic perspective on cultural transformations in mergers and acquisitions, based on an assumption that individuals occupy temporary positions in dynamic dialogue, negotiating equally transitory, but temporarily cohesive allegiances.

The dialogic perspective derives from a constructionist approach and involves ethnographic research methodology. It is developed to track the complex contests of interests in post‐merger pluralist cultures and to reconstruct their dynamics. While some events in the merger process contribute to cultural pluralism and contest of interest, others appear to render allegiance to cohesive cultural elements seductively appropriable.

Two situations are presented. The first poses a view of culture during mergers in which contest over meaning is central and whereby the representation of a cohesive organizational culture is appropriated for political purposes. The second situation illustrates cross‐cutting cultures in action, presenting the development of a “working culture” a notion based on flitting cross‐organizational allegiances in the interest of confronting a central team.

The paper contributes to critical work on organizational culture in merger integration. It points to the inseparability of binaries, the limits of cultural attribution and the tension instigated by the conflation of culture's “differences”. In closing, it points to a future direction with a relational emphasis to merger integration.

This research aimed to investigate the extent to which organisational culture is practised in local and foreign contractors in grade one and two categories and how it affects their performance.

The approach for this research was positivist in nature adopting a mono-method of data collection through a survey using self-administered questionnaires. A total of 138 questionnaires were distributed among public clients and large-scale contractors registered in the stated grades, and 112 questionnaires were returned for analysis representing an overall response rate of 81% for contractors and clients.

Findings revealed that in organisational culture, significant differences were found for management style and dominant characteristics of the organisation between local and foreign contractors. Differences were not found for leadership styles, measures of success and organisational glue. Results suggest that for local contractors to perform better, significant changes are needed to their management style and dominant characteristics of their organisations.

Foreign contractors in the Zambian construction industry are reportedly outperforming local contractors making them preferred contractors on larger public projects accounting for 85% of construction projects by value of works. This study presents the differences in organisational culture between foreign and local firms. It further demonstrates that organisational culture plays a key role in determining performance of a contracting firm. The study presents areas that local contractors can improve in organisational culture in order to remain competitive.