The influence of culture on the performance of mergers and acquisitions

Abstract

This thesis paper explores the relationship between culture and the performance of mergers and acquisitions (M&As) and provides valuable new insights into this complex interplay. The analysis conducted during this research concludes that culture significantly affects the outcomes of M&As, with impacts ranging from positive to negative or, in some selective studies, to neutral. Interestingly, the study method employed during the research could not determine a direct relationship between research methodologies and cultural impacts, suggesting that the diverse findings can be attributed to more than just different research approaches. However, the analysis also reveals that the existing academic research on M&As encompasses a wide range of culture constructs, contributing to a lack of consensus and adding to the uncertainty surrounding the impact of culture. This diversity provescounterproductive, making it challenging to draw definitive conclusions.