CALL FOR PAPERS
European Journal of International Management
Special Issue Proposal on Mergers and Acquisitions (M&A)
<st1:personname w:st="on" productid="Yaakov Weber">Yaakov Weber</st1:personname><st1:personname w:st="on">,</st1:personname>
<st1:place w:st="on"><st1:placetype w:st="on">School</st1:placetype> of <st1:placename w:st="on"><st1:personname w:st="on" productid="Business Administration">Business Administration</st1:personname></st1:placename></st1:place><st1:personname w:st="on">,</st1:personname>
<st1:place w:st="on"><st1:placetype w:st="on">College</st1:placetype> of <st1:placename w:st="on">Management</st1:placename></st1:place><st1:personname w:st="on">,</st1:personname>
Rishon Lezion<st1:personname w:st="on">,</st1:personname> Israel
Satu Teerikangas,
<st1:place w:st="on"><st1:placetype w:st="on">Institute</st1:placetype> of <st1:placename w:st="on">Strategy</st1:placename></st1:place> and International Business<st1:personname w:st="on">,</st1:personname>
Department of Industrial Engineering and Management<st1:personname w:st="on">,</st1:personname>
<st1:city w:st="on">Helsinki</st1:city> <st1:place w:st="on"><st1:city w:st="on">University of Technology</st1:city>, <st1:country-region w:st="on">Finland</st1:country-region></st1:place>
Audrey Rouzies,
University <st1:city w:st="on"><st1:place w:st="on">Toulouse</st1:place></st1:city> 1<st1:personname w:st="on">,</st1:personname>
Graduate <st1:place w:st="on"><st1:placetype w:st="on">School</st1:placetype> of <st1:placename w:st="on">Management</st1:placename></st1:place><st1:personname w:st="on">,</st1:personname>
Department of Strategy<st1:personname w:st="on">,</st1:personname>
<st1:place w:st="on"><st1:city w:st="on">Toulouse</st1:city>, <st1:country-region w:st="on">France</st1:country-region></st1:place>
Shlomo Yedidia Tarba<st1:personname w:st="on">,</st1:personname>
<st1:place w:st="on"><st1:placetype w:st="on">School</st1:placetype> of <st1:placename w:st="on"><st1:personname w:st="on" productid="Business Administration">Business Administration</st1:personname></st1:placename></st1:place><st1:personname w:st="on">,</st1:personname>
<st1:place w:st="on"><st1:placetype w:st="on">College</st1:placetype> of <st1:placename w:st="on">Management</st1:placename></st1:place><st1:personname w:st="on">,</st1:personname>
<st1:city w:st="on">Rishon Lezion</st1:city><st1:personname w:st="on">,</st1:personname>
and
Department of Economics and Management<st1:personname w:st="on">,</st1:personname>
The Open University<st1:personname w:st="on">,</st1:personname> Raanana<st1:personname w:st="on">,</st1:personname>
Israel
Perspectives on M&A: theories, methods and experiences
The last decades have witnessed an ever-increasing amount of mergers and acquisitions (M&A) that stands in sharp contrast to their high failure rate (King<st1:personname w:st="on">,</st1:personname> <st1:city w:st="on"><st1:place w:st="on">Dalton</st1:place></st1:city><st1:personname w:st="on">,</st1:personname> Daily<st1:personname w:st="on">,</st1:personname> and Covin<st1:personname w:st="on">,</st1:personname> 2004). For example<st1:personname w:st="on">,</st1:personname> recent M&A study by Deloitte (2007) reveals that despite the financial market crisis<st1:personname w:st="on">,</st1:personname> Western and <st1:place w:st="on">Eastern Europe</st1:place> attract attention of both strategic and financial investors. Over the past forty years<st1:personname w:st="on">,</st1:personname> a growing body of research has investigated the antecedents that predict mergers and acquisitions (M&A) performance without finding clear relationships. The key factors for M&A success and the reasons for M&A high failure rate remain poorly understood (Stahl<st1:personname w:st="on">,</st1:personname> Mendenhall and Weber<st1:personname w:st="on">,</st1:personname> 2005)
Recent reviews (e.g.<st1:personname w:st="on">,</st1:personname> Stahl and Voight, 2008; Weber and Drori, 2008) point out that most of the existing research on M&A has been a-theoretical<st1:personname w:st="on">,</st1:personname> fragmented across various disciplines<st1:personname w:st="on">,</st1:personname> has not been systematic and linked to any comprehensive theory<st1:personname w:st="on">,</st1:personname> and rarely have models been proposed that were applicable across different organizations.
The degree of organizational change<st1:personname w:st="on">,</st1:personname> following various integration approaches<st1:personname w:st="on">,</st1:personname> may vary substantially across M&A because the motives and types of M&A as well as different environmental and cross-cultural contexts.
Very<st1:personname w:st="on">,</st1:personname> Calori<st1:personname w:st="on">,</st1:personname> and Lubatkin (1993) and Very<st1:personname w:st="on">,</st1:personname> Lubatkin<st1:personname w:st="on">,</st1:personname> and Calori (1996)<st1:personname w:st="on">,</st1:personname> based on empirical studies of European mergers<st1:personname w:st="on">,</st1:personname> provide a good summary statement to the complexity of M&A<st1:personname w:st="on">,</st1:personname> indicating that "cross-national mergers are a complex phenomenon<st1:personname w:st="on">,</st1:personname> sometimes influenced by national cultural differences<st1:personname w:st="on">,</st1:personname> sometimes by organizational influences<st1:personname w:st="on">,</st1:personname> sometimes by both and sometimes by neither".
Furthermore, globalization is expected to continue to increase number of M&A, and the complex global operation of M&A requires a sophisticated adaptation of organizations, leaders, and individuals which gives rise to new questions, relevant to theory, research, and practice, about the nature and effects of various factors on M&A performance.
We believe that a major drawback of existing literature is that, while M&A are a multilevel<st1:personname w:st="on">,</st1:personname> multistage and multidisciplinary phenomena, much of the research tends to be single level (e.g. macro or micro), single stage (e.g., pre- or post-merger) and single disciplinary (e.g., strategic management, or organizational behavior). Unfortunately<st1:personname w:st="on">,</st1:personname> studies from different scientific streams have generally failed to step into each other's turf<st1:personname w:st="on">,</st1:personname> hence missing the opportunities for cross-fertilization. Interestingly<st1:personname w:st="on">,</st1:personname> a number of scholars have raised this issue years ago (e.g<st1:personname w:st="on">,</st1:personname> Weber et al.<st1:personname w:st="on">,</st1:personname> 1996)<st1:personname w:st="on">,</st1:personname> however<st1:personname w:st="on">,</st1:personname> there has not been a systematic attempt in the literature to address this important issue.
We invite scholars to submit papers that investigate M&A from different theoretical lenses<st1:personname w:st="on">,</st1:personname> explore its complexity and the methodologies suited to analyze this phenomenon in both the national and international arenas. We also expect papers that represent the intellectual diversity that is found in <st1:place w:st="on">Europe</st1:place> and elsewhere. For example<st1:personname w:st="on">,</st1:personname> papers may creatively present diversity by a mix of quantitative and qualitative research approaches. We encourage both conceptual and empirical contributions that may address<st1:personname w:st="on">,</st1:personname> but are not limited to<st1:personname w:st="on">,</st1:personname> the following topics:
1. Multistage Approach
- How pre-merger planning factors affect the European and cross-border M&A implementation processes
- Does screening<st1:personname w:st="on">,</st1:personname> due diligence processes<st1:personname w:st="on">,</st1:personname> and ultimately premium paid<st1:personname w:st="on">,</st1:personname> influence the post-acquisition integration approach choice<st1:personname w:st="on">,</st1:personname> speed of implementation process<st1:personname w:st="on">,</st1:personname> transition management structure in the European and cross-border M&A
2. Multidisciplinary Studies
· Does the influence of strategic factors vary in M&A at different countries, industries (high-tech vs. traditional)?
· What insights can perspectives from strategy<st1:personname w:st="on">,</st1:personname> organizational behavior<st1:personname w:st="on">,</st1:personname> international management<st1:personname w:st="on">,</st1:personname> psychology<st1:personname w:st="on">,</st1:personname> sociology<st1:personname w:st="on">,</st1:personname> anthropology and other disciplines provide to our understanding of the nature<st1:personname w:st="on">,</st1:personname> antecedents<st1:personname w:st="on">,</st1:personname> and processes in the European and cross-border M&A?
3. Multilevel approach
- How strategic factors influence<st1:personname w:st="on">,</st1:personname> such as related vs. unrelated M&A<st1:personname w:st="on">,</st1:personname> affect individual's stress<st1:personname w:st="on">,</st1:personname> attitudes<st1:personname w:st="on">,</st1:personname> and turnover in the European and cross-border M&A?
- What is the link between contextual factors<st1:personname w:st="on">,</st1:personname> synergy expectations and synergy exploitation in the European and cross-border M&A?
- Do various HRM practices influence the effectiveness of post-acquisition integration and finally the overall M&A performance measures in European vs. cross-border M&A?
References:
Deloitte Consulting. (2007) Staying on course. Special report on M&A in <st1:place w:st="on">Europe</st1:place>.
King<st1:personname w:st="on">,</st1:personname> D. R.<st1:personname w:st="on">,</st1:personname> <st1:place w:st="on"><st1:city w:st="on">Dalton</st1:city></st1:place><st1:personname w:st="on">,</st1:personname> D. R.<st1:personname w:st="on">,</st1:personname> Daily<st1:personname w:st="on">,</st1:personname> C. M. and Covin<st1:personname w:st="on">,</st1:personname> <st1:personname w:st="on" productid="J. G.">J. G.</st1:personname> (2004) 'Meta-analyses
of post-acquisition performance: Indications of unidentified moderators'<st1:personname w:st="on">,</st1:personname> Strategic
Management Journal<st1:personname w:st="on">,</st1:personname> Vol. 25<st1:personname w:st="on">,</st1:personname> pp. 187-200.
Stahl<st1:personname w:st="on">,</st1:personname> G.<st1:personname w:st="on">,</st1:personname> Mendenhall<st1:personname w:st="on">,</st1:personname> M. and Weber<st1:personname w:st="on">,</st1:personname> Y. (2005) 'Research in socio-cultural integration in mergers and acquisitions'<st1:personname w:st="on">,</st1:personname> in Stahl<st1:personname w:st="on">,</st1:personname> G. and Mendenhall<st1:personname w:st="on">,</st1:personname> M. (Eds.) Mergers and Acquisitions: Managing Culture and Human Resources. <st1:city w:st="on">San Francisco</st1:city>: <st1:place w:st="on"><st1:placename w:st="on">Stanford</st1:placename> <st1:placetype w:st="on">University</st1:placetype></st1:place> Press.
Stahl<st1:personname w:st="on">,</st1:personname> G.K. and Voight<st1:personname w:st="on">,</st1:personname> A. (2008) 'Do cultural differences matter in mergers and
acquisitions? A tentative model for examination'<st1:personname w:st="on">,</st1:personname> Organization Science<st1:personname w:st="on">,</st1:personname> Vol. 19<st1:personname w:st="on">,</st1:personname>
No. 1<st1:personname w:st="on">,</st1:personname> pp. 160-176.
Very<st1:personname w:st="on">,</st1:personname> P.<st1:personname w:st="on">,</st1:personname> Calori<st1:personname w:st="on">,</st1:personname> R.<st1:personname w:st="on">,</st1:personname> and Lubatkin<st1:personname w:st="on">,</st1:personname> M. (1993) 'An investigation of national and organizational cultural influences in recent European mergers'<st1:personname w:st="on">,</st1:personname> Advances in Strategic Management<st1:personname w:st="on">,</st1:personname> Vol. 9<st1:personname w:st="on">,</st1:personname> pp. 323-346.
Very<st1:personname w:st="on">,</st1:personname> P.<st1:personname w:st="on">,</st1:personname> Lubatkin<st1:personname w:st="on">,</st1:personname> M.<st1:personname w:st="on">,</st1:personname> and Calori<st1:personname w:st="on">,</st1:personname> R. (1996) 'A cross-national assessment of acculturative stress in recent European mergers'<st1:personname w:st="on">,</st1:personname> International Studies of Management and Organization<st1:personname w:st="on">,</st1:personname> Vol. 26<st1:personname w:st="on">,</st1:personname> pp. 59-86.
Weber<st1:personname w:st="on">,</st1:personname> Y. and <st1:personname w:st="on" productid="Drori, I.">Drori<st1:personname w:st="on">,</st1:personname> <st1:place w:st="on">I.</st1:place></st1:personname> (2008) 'The linkages between cultural differences<st1:personname w:st="on">,</st1:personname> psychological states<st1:personname w:st="on">,</st1:personname> and performance in international mergers and acquisitions'<st1:personname w:st="on">,</st1:personname> Advances in Mergers and Acquisitions<st1:personname w:st="on">,</st1:personname> Vol. 7<st1:personname w:st="on">,</st1:personname> pp. 119-142.
Weber<st1:personname w:st="on">,</st1:personname> Y.<st1:personname w:st="on">,</st1:personname> Shenkar<st1:personname w:st="on">,</st1:personname> O.<st1:personname w:st="on">,</st1:personname> and Raveh<st1:personname w:st="on">,</st1:personname> A. (1996) 'National vs. corporate cultural fit in mergers and acquisitions: An exploratory study'<st1:personname w:st="on">,</st1:personname> Management Science<st1:personname w:st="on">,</st1:personname> Vol. 42<st1:personname w:st="on">,</st1:personname> pp. 1215-1227.
Notes for Authors
Submitted papers should not have been previously published nor be currently under consideration for publication elsewhere.
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Important Dates
Draft submission deadline: June 1, 2010
Final paper submission deadline: October 1, 2010
Publication release: August 2011
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<st1:personname w:st="on" productid="Shlomo Tarba">Shlomo Tarba</st1:personname>
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<st1:place w:st="on"><st1:placetype w:st="on">College</st1:placetype> of <st1:placename w:st="on">Management</st1:placename></st1:place><st1:personname w:st="on">,</st1:personname>
<st1:place w:st="on"><st1:city w:st="on">Rishon Lezion</st1:city><st1:personname w:st="on">,</st1:personname> <st1:country-region w:st="on">Israel</st1:country-region></st1:place><st1:personname w:st="on">,</st1:personname>
tarba2003@gmail.com <st1:personname w:st="on">,</st1:personname>
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