| dc.description.abstract | Recently, mergers and acquisitions (M&A) are increasing as companies try to expand their operations and increase their competitive advantage on corporate restructuring and external growth. However, M&A frequently fail in expectations and synergy, in part because managers neglect the impact of human resource and organizational culture issues, and lack the incentive ways to the acquired employee and key persons.
This qualitative research with case study is based on an interpretive approach, explores the relationship of the important factors among organizational culture, human resource, and expectations on the process of M&A, which are crucial to the success of M&A. Comparing and analyzing the deeply interview data with the management team in middle and higher level from the public-held companies involved in the merger (over three years) and also assisted by secondary data, deduce to a generalized model of enterprise’s M&A with the conflicts of organizational culture, human resource, and expectations on the synergy.
The significance of the study lies in its measuring on the conflicts of the organizational culture and human resource in the present conflicts on the M&A shows the Ability Enterpruse and Yuanta are in high conflict, and the Fu Sheng and Cathay Financial Holdings are in low conflict. Measuring the synergy on the M&A indicates the Ability Enterpruse and Cathay Financial Holdings are in high expectative state, the Yuanta and Fu Sheng are in low expectative state. Assaying the success of the acquiring companies based on market reaction (what it achieved several years later) and combining the results of the conflicts and expectations on M&A, four M&A types are conducted as the advice and guideline to help assure that the M&A process will success, and are proposed as: 1.Throwing a stone to clear the road type (Ability Enterpruse) with high conflict and expectancy exhibits exceeding performance. 2. Poor matching type (Fu Sheng) with low conflict and expectancy is unable to demonstrate performance in a short time. 3. Symbiosis type (Cathay Financial Holdings) with low conflict and high expectancy is easy to produce the synergy of 1+1> 2. 4. Dissension bedfellows type (Yuanta) with high conflict and low expectancy behaves well but still below the synergy expectancy of 1+1> 2. | en_US |