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Mergers and acquisitions process:the use of corporateculture analysis------Yaakov Weber 袁林AbstractPurpose – The purpose of this paper is to advance cross-cultural management during mergers and acquisitions (MA)Design/methodology/approach – Based on literature review and case studies of both successful and unsuccessful companies, this paper clarifies the concept, the assessment and the use of corporate culture and its dimensions and shows its role in the international business environment.Findings –the enduring paradox of the high rate of MA failure vs the growing activity of MA may be due to lack of synchronized activities of all merger stages.Originality/value – The paper offers insights into corporate culture and its impact during pre-merger stage, negotiation, and the post-merger integration process.IntroductionMergers and acquisitions (MAs) activity around the world has been booming for the last three decades, but business leaders believe that only 9% were “completely successful” in achieving their stated objectives,for merger integration consultants are often not brought in until problems arise late in the post-combination aftermath stage. cultural differences have a negative impact on MA performance. cross-cultural differences can have both negative and positive effects on MA performance .ReasonsCultural differences in the MA decision-making process seem to be neglected.There are two main reasons for the apparent divergence between conventional academic wisdom and executive practice. First, the scholarly literature focuses on the role of national and corporate culture only in the last stage of MA, namely, post-merger integration, rather than on all MA stages, including planning and negotiations. Second, the concept of culture is not entirely clear to executives and therefore difficult to implement in practice, The cross-cultural differences factor in MA success has been the subject of contradictory and perplexing findings. 1. Lack of culture assessment in the
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