English private equity financing and merger in Luxembourg: study of the cultural forces on the corporate governance of an SME in the Luxembourg financial sector

Financement par capital-investisseur anglais et fusion au Luxembourg: étude des forces culturelles sur la gouvernance d'entreprise d'une PME du secteur financier luxembourgeois

Jonathan Labbé () and Mélanie Robert ()
Additional contact information
Jonathan Labbé: CEREFIGE - Centre Européen de Recherche en Economie Financière et Gestion des Entreprises - UL - Université de Lorraine
Mélanie Robert: CEREFIGE - Centre Européen de Recherche en Economie Financière et Gestion des Entreprises - UL - Université de Lorraine

Post-Print from HAL

Abstract: This research in progress aims to understand the governance of managerial intercultural relations in the context of a merger of two SMEs in Luxembourg financedby a British Private Equity firm. An analysis of the intercultural environment of the company and of the structure of the forces at play exposesthe influence of the multicultural factor on the decision-making process of the merger operation. The literature review, based on theories of governance in SMEs, intercultural management and approaches in terms of varieties of capitalism, highlights the cultural behavioral variables of the relationship between the decision-makersof the merged company. These perspectives crossed with the agency theory approach allow us to build a framework explaining the relationship between intercultural strength and governance mechanisms in a company merger process. The qualitative methodology used is based on four interviews anda study of contextual elements in order to provide material for a content analysis. The results highlight the tensions exacerbated by the SME merger context in the exercise of governance by its actorsand showsthe influence ofthe intercultural forcesonthe decision-making mechanism of the merger project. Weconclude by underlining the limits of the studyand related other research opportunities.

Keywords: SME; Governance; Intercultural; Private Equity (search for similar items in EconPapers)
Date: 2020-12-10
New Economics Papers: this item is included in nep-cfn
Note: View the original document on HAL open archive server: https://hal.science/hal-03000142
References: View references in EconPapers View complete reference list from CitEc
Citations:

Published in 46th EIBA Annual Conference, International Business in the Pandemic and Post-Pandemic Era, Dec 2020, Online, France

Downloads: (external link)
https://hal.science/hal-03000142/document (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03000142

Access Statistics for this paper

More papers in Post-Print from HAL
Bibliographic data for series maintained by CCSD ().