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題名 國家文化與企業跨國併購
National Culture in Cross-border M&A
作者 陳怡如
Chen, Yi Ju
貢獻者 姜家雄
Chiang, Chia-Hsiung
陳怡如
Chen, Yi Ju
關鍵詞 企業併購
企業跨國併購
國家文化
文化維度
Mergers & Acquisitions (M&As)
National culture
Cross-borderM&As
Hofstede cultural dimensions
日期 2017
上傳時間 31-Aug-2017 12:26:43 (UTC+8)
摘要 文化常被認為是跨國併購失敗的重要原因，許多文化因素在研究與調查中仍屬薄弱。在本論文中，國家文化是衡量跨境併購文化差異的重點，我們使用了Hofstede 六維度來分析兩種家公司併購情況，即使聯想案例文化維度距離高於TCL案例，但聯想理解在最短時間內和解文化差異，聯想最終解決了問題並變成了利潤。研究表明，溝通是必要的，大大提高了併購的成功性，管理層在合併前，文化評估是必要決策收購的成敗的重要因素。
The failure rate of cross-border M&As is still high and culture is often blamed for hampering performance. If substantial research has been devoted to investigating M&As performance, cultural factors remain largely unexplained.
In this research, national culture is the focus to measure cultural differences in cross border M&As. we used Hofstede 5 dimensions to analyzes two cases, even though Lenovo case cultural dimension distance is higher than TCL case, but Lenovo understand reconciling cultural differences in the shortest time, Lenovo eventually solved the problems and turn into profit. The studies reveal that communication is a necessity, drastically improving the success of a merger, and a cultural assessment of both fit and potential are important factors for providing direction and guidance for necessary decision making and planning initiatives required by management throughout all stages of a merger or acquisition.
The purpose of this conceptual paper is to highlight the tensions generated by national culture in cross-border M&As and Chinese enterprises want to increase the success rate of Cross-border M&As, they have to pay close attention on the cultural problems, make a good cultural assessment and manager the cultural integrating work in the cultural integrating process.
參考文獻 Reference List

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Alexandridis, G., Mavrovitis, C. F., & Travlos, N. G. (2012). How have M&As changed? Evidence from the sixth merger wave. The European Journal of Finance, 18(8), 663-688.
Appelbaum, S. H., Gandell, J., Shapiro, B. T., Belisle, P., & Hoveven, E. (2000). Anatomy of a merger: Behavior of organizational factors and processes throughout the pre-during post stages. Management Decision, 674–687.
Appelbaum, S.H., Roberts, J., and Shapiro, B.T. (2009). Cultural strategies in M&As:
Investigating ten case studies, Journal of executive education, 2(8), 33–58.
Barney, J. B. (1986). Meta‐analyses of post‐acquisition performance: Indications of
Unidentified moderators. Strategic Management Journal, 25(2), 187-200.
Baskerville, R. (2003). Hofstede never studied culture. Accounting, Organization and Society, 28(1), 1–14.
Boland, R. J. (1970). Merger planning: How much weight do personnel factors carry? Personnel, 47, 8–13.
Brockhaus, W.L. (1975) A model for success in mergers and acquisitions, S.A.M. Advanced Management Journal, 40-49.
Brock, D. M. (2005). Multinational acquisition integration: The role of national culture in creating synergies. International Business Review, 14(3), 269–288.
Brock, D. M., Barry, D., & Thomas, D. C. (2000). Your forward is our reverse, your right, our wrong: Rethinking multinational planning processes in light of national culture.International Business Review, 9(6), 687–701.
Brogiato, L. (2012). Cross-cultural management integration in M&As (Bachelor`s thesis, Università Ca`Foscari Venezia).
Bruche, G. (2010). Tata Motor`s transformational resource acquisition path: A case study of latecomer catch-up in a business group context (No. 55).
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Calipha, R., Tarba, S., & Brock, D. (2010). Mergers and acquisitions: a review of phases, motives, and success factors. In Advances in mergers and acquisitions (1-24). Emerald Group Publishing Limited.
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描述 碩士
國立政治大學
亞太研究英語碩士學位學程(IMAS)
103926015
資料來源 http://thesis.lib.nccu.edu.tw/record/#G0103926015
資料類型 thesis
dc.contributor.advisor 姜家雄zh_TW
dc.contributor.advisor Chiang, Chia-Hsiungen_US
dc.contributor.author (Authors) 陳怡如zh_TW
dc.contributor.author (Authors) Chen, Yi Juen_US
dc.creator (作者) 陳怡如zh_TW
dc.creator (作者) Chen, Yi Juen_US
dc.date (日期) 2017en_US
dc.date.accessioned 31-Aug-2017 12:26:43 (UTC+8)-
dc.date.available 31-Aug-2017 12:26:43 (UTC+8)-
dc.date.issued (上傳時間) 31-Aug-2017 12:26:43 (UTC+8)-
dc.identifier (Other Identifiers) G0103926015en_US
dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/112425-
dc.description (描述) 碩士zh_TW
dc.description (描述) 國立政治大學zh_TW
dc.description (描述) 亞太研究英語碩士學位學程(IMAS)zh_TW
dc.description (描述) 103926015zh_TW
dc.description.abstract (摘要) 文化常被認為是跨國併購失敗的重要原因，許多文化因素在研究與調查中仍屬薄弱。在本論文中，國家文化是衡量跨境併購文化差異的重點，我們使用了Hofstede 六維度來分析兩種家公司併購情況，即使聯想案例文化維度距離高於TCL案例，但聯想理解在最短時間內和解文化差異，聯想最終解決了問題並變成了利潤。研究表明，溝通是必要的，大大提高了併購的成功性，管理層在合併前，文化評估是必要決策收購的成敗的重要因素。zh_TW
dc.description.abstract (摘要) The failure rate of cross-border M&As is still high and culture is often blamed for hampering performance. If substantial research has been devoted to investigating M&As performance, cultural factors remain largely unexplained.
In this research, national culture is the focus to measure cultural differences in cross border M&As. we used Hofstede 5 dimensions to analyzes two cases, even though Lenovo case cultural dimension distance is higher than TCL case, but Lenovo understand reconciling cultural differences in the shortest time, Lenovo eventually solved the problems and turn into profit. The studies reveal that communication is a necessity, drastically improving the success of a merger, and a cultural assessment of both fit and potential are important factors for providing direction and guidance for necessary decision making and planning initiatives required by management throughout all stages of a merger or acquisition.
The purpose of this conceptual paper is to highlight the tensions generated by national culture in cross-border M&As and Chinese enterprises want to increase the success rate of Cross-border M&As, they have to pay close attention on the cultural problems, make a good cultural assessment and manager the cultural integrating work in the cultural integrating process.		en_US
dc.description.tableofcontents 1. Introduction
1.1 Motivation and Research Purpose 1
1.2 Research Questions 3
1.3 Research Method 4
1.4 Thesis Structure 5
2. Literature Review of Cross-Border M&As
2.1 Definition of Mergers and Acquisitions 7
2.2 Types of Mergers and Acquisitions 7
2.3 Motivations of Mergers and Acquisitions 9
2.4 Global M&As Evolution and Current Status 12
2.5 Factors Influencing of Cross-Border Mergers and Acquisitions 16
2.6 National Culture and Organizational Culture 29
2.7 Hofstede`s Dimensions of National Culture 30
2.8 Summary 36
3. Influence of Culture in Cross Border M&As -- Cases Review
3.1 TATA Acquire Jaguar Land Rover 39
3.2 BNP Paribas Acquisition of Fortis 43
3.3 Lukoil and ConocoPhillips Merger 46
3.4 The Daimler-Benz Merger With Chrysler 48
3.5 Daimler Alliance with Mitsubishi 50
3.6 Nomura and Lehman Brothers Acquisition 53
3.7 Summary 57
4. National Culture on M&As: Investigating --Two Cases
4.1 Case 1 : Lenovo and IBM Companies Profile 60
4.2 The Motivation of Lenovo Mergered IBM 63
4.3 Actual Problems Encountering After M&As 65
4.4 Hofstede Multural Dimensional in China and US Case 67
4.5 Cross-Cultural Integration & Result in Lenovo and IBM Deal 74
4.6 Case 2 : TCL-Thomson Companies Profile 80
4.7 The Motivation of TCL Merger with Thomson 83
4.8 Actual Problems Encountering After M&As 85
4.9 Hofstede Cultural Dimensional in China and France 86
4.10 Cross-Cultural Integration and Reault in TCL-Thomson Deal 93
5. Conclusion
5.1 Research Findings and Discussion 98
5.2 Future Research 99		zh_TW
dc.format.extent 1788699 bytes-
dc.format.mimetype application/pdf-
dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#G0103926015en_US
dc.subject (關鍵詞) 企業併購zh_TW
dc.subject (關鍵詞) 企業跨國併購zh_TW
dc.subject (關鍵詞) 國家文化zh_TW
dc.subject (關鍵詞) 文化維度zh_TW
dc.subject (關鍵詞) Mergers & Acquisitions (M&As)en_US
dc.subject (關鍵詞) National cultureen_US
dc.subject (關鍵詞) Cross-borderM&Asen_US
dc.subject (關鍵詞) Hofstede cultural dimensionsen_US
dc.title (題名) 國家文化與企業跨國併購zh_TW
dc.title (題名) National Culture in Cross-border M&Aen_US
dc.type (資料類型) thesisen_US
dc.relation.reference (參考文獻) Reference List

Ahamed, Z., Inohara, T., & Kamoshida, A. (2013). The servitization of manufacturing: an empirical case study of IBM corporation. International Journal of Business Administration, 4(2), 18.
Alexandridis, G., Mavrovitis, C. F., & Travlos, N. G. (2012). How have M&As changed? Evidence from the sixth merger wave. The European Journal of Finance, 18(8), 663-688.
Appelbaum, S. H., Gandell, J., Shapiro, B. T., Belisle, P., & Hoveven, E. (2000). Anatomy of a merger: Behavior of organizational factors and processes throughout the pre-during post stages. Management Decision, 674–687.
Appelbaum, S.H., Roberts, J., and Shapiro, B.T. (2009). Cultural strategies in M&As:
Investigating ten case studies, Journal of executive education, 2(8), 33–58.
Barney, J. B. (1986). Meta‐analyses of post‐acquisition performance: Indications of
Unidentified moderators. Strategic Management Journal, 25(2), 187-200.
Baskerville, R. (2003). Hofstede never studied culture. Accounting, Organization and Society, 28(1), 1–14.
Boland, R. J. (1970). Merger planning: How much weight do personnel factors carry? Personnel, 47, 8–13.
Brockhaus, W.L. (1975) A model for success in mergers and acquisitions, S.A.M. Advanced Management Journal, 40-49.
Brock, D. M. (2005). Multinational acquisition integration: The role of national culture in creating synergies. International Business Review, 14(3), 269–288.
Brock, D. M., Barry, D., & Thomas, D. C. (2000). Your forward is our reverse, your right, our wrong: Rethinking multinational planning processes in light of national culture.International Business Review, 9(6), 687–701.
Brogiato, L. (2012). Cross-cultural management integration in M&As (Bachelor`s thesis, Università Ca`Foscari Venezia).
Bruche, G. (2010). Tata Motor`s transformational resource acquisition path: A case study of latecomer catch-up in a business group context (No. 55).
Bruton, G. D., Oviatt, B. M., & White, M. A. (1994). Performance of acquisitions of distressed firms. Academy of Management Journal, 37, 972–990.
Buono, A. F., & Bowditch, J. (1989). The human side of mergers and acquisitions.
Human Resource Management, 28(2), 301-304.
Calipha, R., Tarba, S., & Brock, D. (2010). Mergers and acquisitions: a review of phases, motives, and success factors. In Advances in mergers and acquisitions (1-24). Emerald Group Publishing Limited.
Cartwright, S., & Price, F. (2003). Managerial preferences in international mergers
And acquisition partners revisited: How are they influenced? Advances in Mergers and Acquisitions, 2, 81–95.
Cartwright, S., & Schoenberg, R. (2006). Thirty years of mergers and acquisitions research: Recent advances and future opportunities. British Journal of Management, 17,S1–S5.
Carty, S. S. (2008). Tata Motors to buy Jaguar, Land Rover for $2.3 B. ABC News, Retrieved on April 5, 2017. http://abcnews. go. com/Business/story? id= 4528213&page= 1#. UY6ROLVql60.
Chatterjee, S., Lubatkin, M. H., Schweiger, D. M., & Weber, Y. (1992). Cultural
Differences and shareholder value in related mergers: Linking equity
And human capital. Strategic Management Journal, 9(6), 319-334.
Chen, C., & Findlay, C. (2003). A Review of Cross‐border Mergers and Acquisitions in APEC. Asian‐Pacific Economic Literature, 17(2),14-38.
Collen, M. F. (2015). Decision support systems (DSS). In The History of Medical Informatics in the United States, 17(2), 685-722
Datta, D. K. (1991). Organizational fit and acquisition performance: Effects of post‐
Acquisition in integration. Strategic Management Journal, 7(12), 281-291
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