Recent merger waves have shown that the awareness of and appropriate
reaction to cultural differences between transaction partners can be the crucial element that decides on their success or failure. Previous research has never made an effort to quantify cultural risks, and in a second step, costs of Mergers and Acquisitions (M&A).
This paper aims at developing a model that gives an indication of the conflict potential inherent to the cultural differences between transaction parties. The model shall also disentangle which culture type – national, corporate, professional, individual or deal culture – is most likely to clash, and which cultural elements are the determinants of that hazard. The model can be viewed as an early-stage tool that lays the groundwork for the development of cultural cost estimation instruments for M&A.
Table of Contents
Introduction
Chapter One - Theoretical Framework
Part One - National Culture
Part Two - Corporate Culture
Part Three - Professional Culture
Part Four - Individual Culture
Part Five - Culture of the Deal
Chapter Two - A Scoring Model
Part One - Basis of the Scoring Model: Elements and Scales
Part Two - Core of the Scoring Model: Weighing of the Elements
Part Three - Potentials and Limitations of the Model
Chapter Three - Consequences of Cultural Differences
Chapter Four - Case Study Daimler Chrysler
Conclusion
Bibliography
Appendix
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