یکپارچه سازی تملک چندملیتی: نقش فرهنگ ملی در ایجاد هم افزایی

How do cultural differences between home and host nations undermine or enhance multinational acquisitions? Although most believe that differences in national culture affect performance in acquired firms, some studies find cultural differences are problematic, others find they add value to the parent firm, and others find variable or no effects. The study of 103 related acquisitions reported here suggests that the path between national culture and successful integration of an acquisition follows an indirect process. We find that the cultural match or mismatch between the parties to a related acquisition shape their ability to successfully integrate and share resources, which in turn affects the ability to realize synergies.

National culture is clearly a significant variable to be considered in the context of multinational mergers and acquisitions. We have shown how and why cultural distance becomes reflected in structural preferences; and subsequently complicates managerial commitment, integration, and resource sharing among subsidiaries; and thus compromises realization of the synergies intended in related mergers and acquisitions. It is important to note that the fact that a parent company comes from a collectivist or a high PD culture should not preclude it from making acquisitions in individualist or low PD cultures. Indeed, multinational acquisitions from collectivist cultures like Japan have been successful in many cases. Rather, the implications of individualism and PD should be factored into calculations of expected synergy and their effects considered prior to integration. It is important that managers be aware of possible conflicts that may arise between different cultures, and plan accordingly. This requires an awareness of the potential integration related and sharing problems discussed in this study.