Discussion and Conclusions
Although the literature review highlights that M&As constitute a preferred strategy for growth, it is empirically documented that there are many reasons that contribute to the lack of M&A success. It is often quite challenging to integrate employees who often experience uncertainty, fear, high levels of stress and frustration. These strong negative emotions are experienced in all the phases of the transition process, prior, during and after. This is expected since M&As always cause an avalanche of internal organisational changes that need to be effectively managed. Ineffective employee integration is more than likely to have an impact on the long-term success of the newly formed organisation. Thus, retaining and integrating employees in M&As can be essential to success. Employee retention is a prerequisite for achieving the projected benefits from the newly combined organisations, in which employee competencies from both the acquiring and acquired firms are important.
How can the merged organisation successfully retain its employees and integrate them into a “new” strong team? The literature reviewed revealed that senior level managers should play a leading role in reducing the high levels of uncertainty and any other negative behaviours and attitudes felt by employees during the integration process. Executives need to have a strong leadership attitude and a clear vision in order to convey information to the employees in such a way that garners trust, appears sincere, and is capable of empowering, influencing and motivating the responses of employees that will be most beneficial for the organisation. Senior level and middle level managers should adopt a leadership style that allows them to empathise and associate with their employees, understand their concerns and show empathy, subsequently reducing the resistance to the merger or acquisition. There is also a need to ensure that there is a clear organisational identity, since during a merger or acquisition the corporate identity of the two separate corporations is lost, and a new one needs to be created for the newly formed organisation. Often the acquired employees feel that the acquiring firm threatens their organisational identity, which is of course true and, therefore, there is a need to achieve a strong clear vision for the newly combined organisation. The vision and organisational goals need to be communicated to the workforce who then has to embrace them. Providing a clear vision can create shared meanings, common identity, and provide direction for the organisation. Achieving a vision requires the efforts and commitment of the entire organisation and towards this end, human resource managers need to play a leading role. To improve the possibilities for a successful merger or acquisition, human resource managers need to get involved as early as possible in the process. The human resource department can positively contribute to the success of the merger or acquisition by managing the implementation of tools that can significantly contribute towards the improvement of employee morale, the quality of the work environment and employee retention. These tools based on the literature reviewed, include employee empowerment, autonomy, involvement, personal development, training, career progression, internal communication and management support. The effective implementation of these tools has the potential to enhance trust and organisational commitment among employees and motivate them to embrace the goals and vision of the newly combined organisation. An evaluation of the skills and competences of all organisational members is necessary in order to retain those that possess the desired characteristics needed to maximise the M&A success.
Abbasi, S., 6c Hollman, K. (2000). Turnover: The real bottomline. Public Personnel Management, 29(3), 333-342.
Ahmad, M. F., de Bodt, E., 6c Bollaert, H. (2015). Mergers and Acquisitions across cultures. France: SKEMA Business School and Universite de Lille.
Al-Emadi, A. A. Q., Scwabenland, C., 6c Wei, Q. (2015). The vital role of employee retention in human resource management: A literature review. Journal of Organizational Behavior, 14(3), 7-32.
Alam, N., 6c Ng, L. S. (2014). Banking mergers - An application of matching strategy. Review of Accounting and Finance, 13(1), 2-23.
Allen, D. G., 6c Shanock, L. R. (2013). Perceived organizational support and embeddedness as key mechanisms connecting socialisation tactics to commitment and turnover among new employees. Journal of Organisational Behaviour, 34(3), 350-369.
Allen, D. G., Shore, L. M. 6c Griffeth, R. W. (2003). The role of perceived organizational support and supportive human resource practices in the turnover process. Journal of Management, 29, 99-118.
Anderson, S. E., Coffey, B. S., 8c Byerly, R. T. (2002). Formal organizational initiatives and formal workplace practices: Links to work-family conflict and job-related outcomes. Journal of Management, 28, 787-810.
Anderson, V. (2009). Desperately seeking alignment: Reflections of senior line managers and HRD executives. Human Resource Development International, 12(3), 263-277.
Angwin, D. N. (2001). Mergers and acquisitions across European borders: National perspectives on pre-acquisition due diligence and the use of professional advisors. Journal of World Business, 36(1), 32-57.
Antila, E. M., 6c Kakkonen, A. (2008). Factors affecting the role of HR managers in international mergers and acquisitions: A multiple case study. Personnel Review, 37(3), 280-299.
Appelbaum, S. H., Gandell, J., Shapiro, В. T., Belisle, P., 6c Hoeven, E. (2000). Anatomy of a merger: Behavior of organizational factors and process throughout the pre- during- post-stages (part 2). Management Decision, 38(10), 674-684.
Appelbaum, S. H., Lefrancois, F., Tonna, R., 6c Shapiro, В. T. (2007). Mergers 101 (part two): Training managers for culture, stress, and change challenges. Industrial and Commercial Training, 39(4), 191-200.
Arnold, E. (2005). Managing human resources to improve employee retention. The Health Care Manager, 24(2), 132-140.
Baghai, M., Smit, S., 6c Viguerie, S. P. (2008). M6cA strategies in a down market. McKinsey Quarterly, 4, 97-99.
Bansal, A. (2015). Understanding the integration mechanisms practiced during organizational change: Evidence from five M8cA transactions. Journal of Organizational Change Management, 28(6), 929.
Beecham, S., Baddoo, N., Hall, T., Robinson, H., 6c Sharp, H. (2008). Motivation in software engineering: A systematic literature review, Information and Software Technology, 50(9/10), 860-878.
Bertoncelj, A., 6c Kovac, D. (2007). An integrated approach for a higher success rate in mergers and acquisitions. Zbornik Radova Ekonomskog Fakulteta и Rijeci, 25(1), 167-188.
Bhatnagar, J. (2007). Talent management strategy of employee engagement in Indian ITES employees: Key to retention. Employee Relations, 29(6), 640-663.
Birt, M., Wallis, T., 6c Winternitz, G. (2004). Talent retention in a changing workplace: An investigation of variables considered important to South African talent. South African Journal of Business Management, 35(2), 25-31.
Bradt, G. (2015). The root cause of every merger’s success or failure: Culture. Forbes Contributors.
Bruner, R. (2005). Deals from hell: M&A lessons that rise above the ashes. Hoboken, NJ: John Wiley.
Budhar, P. S. (2000). Evaluating levels of strategic integration and development of human resource management in the UK. Personnel Review, 29(2), 141-161.
Burghardt, D., 6c Helm, M. (2015). Firm growth in the course of mergers and acquisitions. Small Business Economics, 44, 889-904.
Carraher, S. M., Gibson, J., 5c Buckley, M. (2006). Compensation satisfaction in the Baltics and the USA. Baltic Journal of Management, 7(1), 7-23.
Cartwright, S., 5c Cooper, C. L. (1992). Mergers and Acquisitions: The human factor. Oxford: Butterworth-Heinemann.
Cartwright, S., 5c Cooper, C. L. (2000). HR know-how in mergers and acquisitions. London: Institute of Personnel and Development.
Charoensukmongkol (2016). The role of mindfulness on employee psychological reactions to mergers and acquisitions. Journal of Organizational Change Management, 29(5), 816-831.
Chew, J., 5c Chan, С. C. A. (2008). Human resource practices, organizational commitment and intention to stay. International Journal of Manpower, 29(6), 503-522.
Chiriac, I., &: Georgescu, E. I. (2015). The study of the evolution of M&A’s in the current economic context. Ovidius University Annals, Series Economic Sciences, 15(1), 237-241.
Chun, R. (2005). Ethical character and virtue of organizations: An empirical assessment and strategic implications. Journal of Business Ethics, 57(3), 269-284.
Collett, N. (2010). Partial Utilitarianism as a suggested ethical framework for evaluating corporate mergers and acquisitions. Business Ethics: A European Review, 19(4), 363-378.
Croteau, J. D. (2013). Take seven steps to boost loyalty. Executive Excellence Publishing.
Dasborough, M., Frick, G., Lamb, P., 5c Suseno, Y. (2003). Emotions in mergers: A phenomenological approach (Paper presentation). Annual Meeting of the Academy of Management, Seattle, WA.
Devi, R. V. (2009). Employee engagement is a nvo-way street. Human Resource Management International Digest, 17(2), 3-4.
Durryl, J. (2016). The importance of planning an M&A integration. MHD Supply Chain Solutions, Mergers and Acquisitions, 46(1), 40-41.
Dutta, A. (2004). Strategies for retaining employees. HRM Review, 8, 31-35.
Edwards, M. R., 5c Edwards, T. (2013). Employee responses to changing aspects of the employer brand following a multinational acquisition: A longitudinal study. Human Resource Management, 52(1), 27-54.
Elangovan, A. R. (2001). Causal ordering of stress, satisfaction and commitment, and intention to quit: A structural equation analysis. Leadership & Organization Development Journal, 22(4), 159-165.
Epstein, M. (2004). The drivers of success in the post-merger integration. Organizational Dynamics, 33(2), 174-189.
Erickson, R. A. (2015). Communication and employee retention. In The international encyclopedia of interpersonal communication (pp. 1-10). John Wiley 5c Sons.
Fairfield-Sonn, J. W., 5c Ogilvie, J. R. (2002). Mergers, acquisitions and longterm employ attitudes. Journal Business Economy Studies, 8(2), 1-16.
Ferguson, R., 5c Brohaugh, B. (2009). The talent wars. Journal of Consumer Marketing, 26(5), 358-362.
Firth, L., Mellor, D. J., Moore, K. A., 5c Loquet, C. (2004). How can managers reduce employee intention to quit?. Journal of Managerial Psychology, 19(2), 170-187.
Gadiesh, O., Ormiston, C., Rovit, S., 5c Critchlou, J. (2001). The ‘why’ and ‘how’ of merger success. European Business Journal, 13(4), 187-193.
Gall, E. (1991). Strategies for merger success. Journal of Business Strategy, 12(2), 26-29.
Galpin, T. J., 5c Herndon, M. (2000). The complete guide to mergers and acquisitions: Process tools to support M&A integration at every level. San Francisco, CA: Jossey-Bass.
Garver, R. (2006). Merge right: Numbers don’t drive deals. People do. Retrieved from http://www.CFO.com.
Gberevbie, D. E. (2010). Organizational retention strategies and employee performance of Zenith Bank in Nigeria. African Journal of Economic and Management Studies, 1(1), 61-74.
Gentry, W. A., Kuhnert, K. W., Mondore, S. P., 5c Page, E. E. (2007). The influence of supervisory-support climate and unemployment rate on part-time employee retention. Journal of Management Development, 26(10), 1005-1022.
Ghosh, P., Satyawadi, R., Joshi, J. P., 5c Shadman, M. (2012). Who stays with you? Factors predicting employees’ intention to stay. International Journal of Organizational Analysis, 21(3), 288-312.
Gialouisi, O., 5c Coetzer, A. (2013). An exploratory investigation into voluntary employee turnover and retention in small businesses. Small Enterprise Research, 20, 55-68.
Giessner, S. R., Viki, G. T., Otten, S., Terry, D. J., 5c Taeuber, S. (2006). The challenge of merging: Merger patterns, premerger status, and merger support. Personality and Social Psychology Bulletin, 32(3), 339-352.
Govaerts, N., Kyndt, E., Dochy, F., 5c Baert, H. (2011). Influence of learning and working climate on the retention of talented employees. Journal of Workplace Learning, 23(1), 35-55.
Guerrero, S. (2008). Changes in employees’ attitudes at work following an acquisition: A comparative study by acquisition type. Human Resource Management Journal, 18(3), 216-236.
Gulati, R., 5c Teo, D., (2008). A study of employee attitudes after mergers and acquisitions: An Asia-Pacific perspective. Horizons—New perspectives on M&A success. WatsonWyatt.com.
Guthrie, J. (2000). Alternative pay practices and employee turnover. Group & Organization Management, 25(4), 419-439.
Hajbada, A., 5c Donnelly, R. (2013). Acquirers’ performance in hot and cold merger markets: Evidence of mispricing. Review of Accounting and Finance, 12(3), 204-225.
Harding, D., 5c Rouse, T. (2007). Human due diligence. Harvard Business Review, 4, 124-131.
Heather, A. E. (2003). Building a workplace of choice: Using the work environment to attract and retain top talent. Journal of Facilities Management, 2(3), 244-257.
Hogg, M. A. (2007). Uncertainty-identity theory. Advances in Experimental Social Psychology, 39, 69-126.
Horwitz, F. M., Heng, С. T., 5c Quazi, H. A. (2003). Finders, keepers? Attracting, motivating and retaining knowledge workers. Human Resource Management Journal, 13, 23-44.
Huang, I. C, Lin, H. C., 6c Chuang, С. H. (2006). Constructing factors related to worker retention. International Journal of Manpower, 27(5), 491-508.
Hubbard, N. (1999). Acquisition strategy and implementation. London: Macmillan.
Hughes, M. (2015). A new era for change management during Mergers 5c Acquisitions. In Application Management, https://www.westmonroepartners. com/. Accessed 25.05.16.
Hutzschenreuter, T., Kleindienst, I., 5c Schmitt, M. (2014). How mindfulness and acquisition experience affect acquisition performance. Management Decision, 52(6), 1116-1147.
Jayesh, C. N. (2013). Innovative HR strategies for post merger performance - Issues and concerns. Advances in Management, 6(10), 16-19.
Jepsen, D. M., 6c Rodwell, J. (2010). A social exchange model of the employment relationship based on keeping tally of the psychological contract, European Relations Record, 10(2), 20^15.
Joslin, F., Waters, L., 5c Dudgeon, P. (2010). Perceived acceptance and work standards as predictors of work attitudes and behaviour and employee psychological distress following an internal business merger. Journal of Managerial Psychology, 25(1), 22-43.
Kennedy, К. H., Payne, G. T., 5c Whitehead, C. J. (2002). Matching industries between target and acquirer in high-tech mergers and acquisitions. Technology Analysis & Strategic Management, 14(2), 149-162.
Kim, S. (2012). The impact of human resource management on state government IT employee turnover intentions. Public Personnel Management, 41(2), 257-279.
Klendauer, R., 6c Deller, J. (2009). Organizational justice and managerial commitment in corporate mergers. Journal of Management Psychology, 24(1), 29-45.
Kongpichayanond, P. (2009). Knowledge management for sustained competitive advantage in mergers and acquisitions. Advances in Developing Human Resources, 11(3), 375-387.
Konstantopoulos, N., Sakas, D., 5c Triantafyllopoulos, Y. (2009). Lessons from a case study for Greek banking M8cA negotiations. Management Decision, 47(8), 1300-1312.
Krug, J., 6c Aguilera, R. (2004). Top management team turnover in mergers and acquisitions. Advances in Mergers and Acquisitions, 4, 121-149.
Krug, J. A. (2009). Brain drain: Why top management bolts after M5cAs. Journal of Business Strategy, 30(6), 4-14.
Krug, J. A., Wright, P., 5c Kroll, M. J. (2014). Top management turnover following mergers and acquisitions: Solid research to date but still much to be learned. The Academy of Management Perspectives, 28(2), 147-163.
Kujawa, P. (2015). Rewards and recognition “Bow” flex: The gifts that reward you back. MediaTec Publishing.
Kummer С. H. (2008). Motivation and retention of key people in mergers and acquisitions. Strategic HR Review, 7(6), 5-10.
Kusstatscher, V., 6c Cooper, C. L. (2005). Managing emotions in Mergers and Acquisitions. Cheltenham: Edward Elgar.
Kyriazopoulos, G., 6c Drymbetas, E. (2015). Do domestic banks Mergers and Acquisitions still create value? Recent evidence from Europe. Journal of Finance and Bank Management, 3(1), 100-116.
Lavvlor, J. (2013). Employee perspectives on the post-integration stage of a micro-merger. Personnel Review, 42(6), 704-723.
Lee, С. C, Wu, С. C., 8c Lee H. M. (2009). Factors that influence employees’ organizational identity after M8cA: The acquirer and acquired perspective. African Journal of Business Management, 3(11), 695-704.
Lupina-Wagener, A. A. (2013). Human resource integration in subsidiary mergers and acquisitions. Evidence from Poland. Journal of Organizational Change Management, 26(2), 286-304.
Maimunah, I., Baki, N. U., Omar, Z., 8c Bebenroth, R. (2016). Organizational identification as perceived by Merger and Acquisition employees. Global Business and Management Research: An International Journal, 8(3), 29.
Mano-Negrin, R., 8c Tzafrir, S. S. (2004). Job search modes and turnover. Career Development International, 5, 442-446.
Marks, M., 8c Mirvis, P. (2001). Making mergers and acquisitions work: Strategic and psychological preparation. Academy of Management Executive, 15(2), 80-95.
Marks, M. L. (2006). Workplace recovery after mergers, acquisitions and downsizings: Facilitating individual adaptation to major organizational transitions. Organizational Dynamics, 35(4), 384-399.
Mavrides, M., 8c Hadjichristodoulou, C. (2008). Mergers and Acquisitions in Cyprus: How good was the deal? European University Cyprus.
Milner, N. (2010). Success in Mergers and Acquisitions, Lessons from M&A analysis since 1967, Milner LLP.
Mirvis, P. H., 8c Marks, M. L. (1992). Managing the Merger: Making it work (p. 69). Prentice-Hall, New York
Morgan, H. J. (2008). I hired you, you’re perfect... now stay! (The top ten list for retaining top talent). Business Strategy Series, 9(3), 119-125.
Morrell, К. M., Loan-Clarke, J., 8c Wilkinson, A. J. (2004). Organisational change and employee turnover. Personnel Review, 33(2), 161-173.
Mottola, G., Gaertner, S., Bachman, B., 8c Dovidi, J. (1997). How groups merge: The effects of merger integration patterns on anticipated commitment to the merged organization. Journal of Applied Social Psychology, 27(15), 1335-1358.
Naz, Z., 8c Nasim, S. (2015). Emotional balancing and change outcomes during post-merger integration: A case study. In Management Flexibility. Springer India Flexible Systems Management, 297-310.
Nemanich, L. A., 8c Keller, R. T. (2007). Transformational leadership in an acquisition: A field study of employees. The Leadership Quarterly, 18, 49-68.
Newton, (2015). HR needs to adapt to the right role for M8cA deals to succeed: Study. Quested Media Group LLC.
Nikandrou, I., 8c Papalexandris N. (2007). The impact of M8cA experience on strategic HRM practices and organizational effectiveness: Evidence from Greek firms. Human Resource Management Journal, 17(2), 155-177.
Ramlall, S. (2003). Managing employee retention as a strategy for increasing organizational competitiveness. Applied HRM Research, 8(2), 63-72.
Raukko, M. (2009). Organizational commitment during organizational changes, A longitudinal case study on acquired key employees. Baltic Journal of Management, 4(3), 331-352.
Retensa (2012). Mergers and Acquisitions: Managing the people issues, http:// vvww.retensa.com/services/mergers-aequisitions.php, Accessed 18.09.12.
Reus, T. H., 5c Lamont, В. T. (2009). The double-edged sword of cultural distance in international acquisitions. Journal of International Business Studies, 40, 1298-1316.
Risberg, A. (1999). Ambiguities thereafter: An interpretive approach to acquisitions. [Doctoral thesis], Sweden: Lund Studies in Economics and Management, Lund University.
Riviezzo, A. (2013). Acquisitions in knowledge-intensive industries: Exploring the distinctive characteristics of the effective acquirer. Management Research Review, 36(2), 183-212.
Rossi, M., Tarba, S. Y., &: Raviv, A. (2013). Mergers and acquisitions in the hightech industry: A literature review. International Journal of Organizational Analysis, 21(1), 66-82.
Saksonova, S., 5c Kantane, I. (2016). Mergers and Acquisitions: Examples of best practice in Europe and Latvia. In Contemporary issues in finance: Current challenges from across Europe, Emerald Publishing Ltd, 95-110.
Sanda, M. A., &: Benin, P. A. (2011). How is the firm dealing with the merger? A study of employee satisfaction with the change process. Journal of Management and Strategy, 2(2), 28-37.
Sarala, R. M. (2010). The impact of cultural differences and acculturation factors on post-acquisition conflict. Scandinavian Journal of Management, 26, 38-56.
Saunders, M., Altinay, L., 5c Riordan, K. (2009), The management of postmerger cultural integration: Implications from the hotel industry. Service Industries Journal, 29( 10), 1359-1375.
Schraeder, M. (2001). Identifying employee resistance during the threat of a merger: An analysis of employee perceptions and commitment to an organization in a pre-merger context. The Mid-Atlantic Journal of Business, 37(4), 191-203.
Schuller, R., 5c Jackson, S. (2001). HR issues activities and responsibilities in Mergers and Acquisitions. European Management Journal, 19(3), 239-253.
Schweiger, D., 5c Denisi, A. (1991). Communication with the employees following a merger: A longitudinal field experiment. Academy of Management Journal, 34(1), 110-135.
Schweiger, D. M. (2002). M&A integration a framework of executives and managers. New York, NY: McGraw-Hill.
Schweizer, L. (2005). Organizational integration of acquired biotechnology companies into pharmaceutical companies: The need for a hybrid approach. Academy of Management Journal, 48(6), 1051-1074.
Shook, L. V., 5c Roth, G. (2011). Downsizings, mergers and acquisitions: Perspectives of human resource development practitioners. Journal of European Industrial Training, 35(2), 135-153.
Shrivastava, P. (1986). Postmerger integration. Journal of Business Strategy, 7(1), 65-76.
Siu, O., Cooper, C. L., 5c Donald, I. (1997). Occupational stress, job satisfaction and mental health among employees of an acquired TV company in Hong Kong. Stress Medicine, 13(2), 99-107.
Srivastava, R., & Prakash, A. (2014). Value creation through cross-border mergers and acquisitions by the Indian pharmaceutical firms. Journal of Strategy and Management, 7(1), 49-63.
Stahl, G. K., & Voigt, A. (2008). Do cultural differences matter in Mergers and Acquisitions? A tentative model and examination. Organizational Science, 19(1), 160-176.
Stahl, G. K. et al. (2013). Sociocultural integration in Mergers and Acquisitions: Unresolved paradoxes and directions for future research. Wiley Online Library (D01:10.1002/tie.21549 and Thunderbird International Business Review, 55(4).
Steynberg, R. P., & Veldsman T. H. (2011). A comprehensive, holistic people integration process for mergers and acquisitions. SA Journal of Human Resource Management, 9(1), 1-16.
Sturman, M., Trevor, C., Boudreau, J. 5c Gerhart, B. (2003). Is it worth it to win the talent war? Evaluating the utility of performance-based pay. Personnel Psychology, 56, 997-1035.
Szabla, D. (2007). A multidimensional view of resistance to organizational change: Exploring cognitive, emotional, and intentional responses to planned change across perceived leadership strategies. Human Resource Development Quarterly, 18(4), 525-558.
Tang, Y. W. R., 5c Metwalli, A. M. (2013). Mergers and Acquisitions in India, Pakistan and Bangladesh. International Journal of Commerce and Management, 23(4), 327-338.
Trichterborn, A., Zu Knyphausen-Aufsess, D., 5c Schweizer, L. (2016). How to improve acquisition performance: The role of a dedicated M&A function, M&A learning process, and M&A capability. Strategic Management Journal, 37(4), 763-773 (2016).
Uhlenbruck, K., Hughes-Morgan, M., Hitt, M. A., Ferrier, W. J., & Brymer, R. (2016). Rivals reactions to mergers and acquisitions. Strategic Organizations, 15(1), 40-66.
Ullrich, J., Wieseke, J., & van Dick, R. (2005). Continuity and change in mergers and acquisitions: A social identity case study of a German industrial merger. Journal of Management Studies, 42(8), 1549-1569.
Vaara, E. (2003). Post-acquisition integration as sensemaking: Glimpses of ambiguity, confusion, hypocrisy, and politicization. Journal of Management Studies, 40, 859-894.
Vaara, E., Sarala, R., Stahl, G., & Bjorkman, I. (2011). The impact of national and organizational cultural differences on post-acquisition integration outcomes. Journal of Management Studies, 49, 1-27.
Van Dam, K., Oreg, S., & Schyns, B. (2008). Daily work contexts and resistance to organizational change: The role of leader - Member exchange, development climate, and change process characteristics. Applied Psychology: An International Review, 57(2), 313-334.
Van Dick, R., Wagner, U., & Lemmer, G. (2004). The winds of change, multiple identifications in the case of organizational mergers. European Journal of Work and Organizational Psychology, 13(2), 121- 138.
Wagner, B., & de Hilal, A. V. G. (2014). The human factor: A successful acquisition in Brasil. Management Research Review, 37(3), 261-287.
Weber, Y., & Tarba, S. Y. (2011). Exploring culture clash in related merger: Post-merger integration in the hightech industry. International Journal of Organizational Analysis, 19(3), 202-221.
Weber, Y., 5c Tarba, S. Y. (2012). Mergers and acquisitions process: The use of corporate culture analysis. Cross Cultural Management: An International Journal, 19(3), 288-303.
Weber, Y., Tarba, S. Y., & Reichel, A. (2009). International acquisitions and acquisitions performance revisited - The role of cultural distance and postacquisition integration approach. In Cooper, C., &: Finkelstein, S. (Eds), Advances in Mergers and Acquisitions, Vol. 8, New York, NY: JAI Press, 1-17.
Weber, Y., Tarba, S. Y., &: Rozen-Bachar, Z. (2011). Mergers and acquisitions performance paradox: The mediating role of integration approach. European Journal of International Management, 5(4), 373-393.
Wu, J. S., 5c Zang, A. Y. (2007). Earnings forecast performance and financial analyst turnover during mergers. Simon School of Business. Simon School Working Paper No. FR07-01.
Xing, Y., 5c Liu, Y. (2016). Linking leaders’ identity work and human resource management involvement: The case of sociocultural integration in Chinese mergers and acquisitions. In “The International Journal of Human Resource Management". 27, 2550-2577.
Zuber, A. (2001). A career in food service cons: High turnover. Nation's Restaurant News, 35(21), 147-148.