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 ()
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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

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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 financed by a British Private Equity firm. An analysis of the intercultural environment of the company and of the structure of the forces at play exposes the influence of the multicultural factor on the implementation of the merger. The literature review, focused on intercultural management and approaches in terms of varieties of capitalism, highlights the cultural behavioral variables of the relationship between the decision-makers of the merged company. These perspectives 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 and a 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 actors and show the influence of the intercultural forces on the implementation mechanism of the merger project. We conclude by underlining the limits of the study and related other research opportunities.

Date: 2020-12-10
Note: View the original document on HAL open archive server: https://hal.science/hal-03043138
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Published in 46th EIBA Annual Conference, International Business in the Pandemic and Post-Pandemic Era, Dec 2020, Online, France

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03043138

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