Meta-analyses of culture’s consequences for acquisition performance

Daniel Rottig

International Journal of Emerging Markets, 2017, vol. 12, issue 1, 8-37

Abstract: Purpose - The purpose of this paper is to provide a quantitative integration of the existing empirical body of literature on culture and acquisition performance. Design/methodology/approach - The study is based on a meta-analytical approach that synthesizes 189 effect sizes from 24 independent samples with a total sample size ofn=5,496 acquisitions. Findings - This meta-analytical study found a consistently negative and significant relationship between organizational cultural differences and acquisition performance, and a dual effect of national cultural differences (i.e. cultural distance) on acquisition performance. It further identified significant methodological and contextual moderators and discusses the implications for acquisitions in emerging markets. Research limitations/implications - Due to the nature of meta-analyses, this study is based on existing (i.e. available secondary) data. Future research may collect novel, primary data to further test the conceptual model and respective relationships developed therein. Practical implications - This study sheds light onto the culture-based performance determinants of acquisitions and the effects of methodological and contextual moderator variables. Given the significant importance of acquisitions across organizational and national cultures, the findings may inform business practitioners when developing sustainable strategies to successfully integrate organizations that are culturally different and/or are located in culturally diverse environments. Social implications - A better understanding about the culture-based performance determinants of acquisitions may inform public policy makers about how to regulate and set incentives for acquisitions, which constitute a main vehicle through which firms undertake foreign direct investment, and which can be considered a global sustainable growth strategy for multinational corporations and entire economies. Originality/value - This paper is original in that it provides a large-scale and in-depth quantitative integration and synthesis of the empirical literature on culture and acquisition performance based on a meta-analytical approach and so has important theoretical value and empirical implications for future emerging market research.

Keywords: Meta-analysis; Organizational culture; Cultural differences; Cross-border acquisitions; Acquisitions and mergers; National cultures; Cultural distance (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:eme:ijoemp:ijoem-01-2015-0003

DOI: 10.1108/IJoEM-01-2015-0003

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