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Dissertations / Theses on the topic 'Pre and Post Merger'
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Salama, H. "The effect of pre- and post-merger factors on the performance of mergers in Libyan government banks." Thesis, Nottingham Trent University, 2015. http://irep.ntu.ac.uk/id/eprint/28282/.
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The aim of the study is to investigate the impact of pre-merger and post-merger factors on the performance of mergers in Libyan government banks. Specifically, the study examines motivations behind Libyan banking mergers, and the influence of strategic fit, organisational cultural fit, speed of integration, and effectiveness of integration on the performance of mergers among Libyan government banks. The main conceptual framework was based on three different schools of thoughts: strategic management school, the process school and the organisational behavioural school. The theoretical model was examined through a cross-sectional research design i.e. structured questionnaire. Questionnaire data were collected from 169 managers in Libyan government banks. The findings reveal that mergers by government banks are seen primarily as a means to increase market power, to be able to compete with foreign banks, to enable faster entry to market and acquire organisational know-how. The findings also indicate that the organisational cultural fit improves the chances of merger performance. In addition, strategic complementarity positively influences cultural fit and integration effectiveness as well as merger performance. Finally, the findings indicate that merger performance is positively influenced by strategic complementarity, effectiveness of integration, and the speed of integration. Prior researchers primarily examined the impact of pre-merger factors and post-mergers factors separately. This study contributes to the existing literature by developing and empirically testing an integrative and holistic conceptual framework explaining the influence of pre-merger and post-merger factors on the performance of banking mergers. Hence, outcome of the study would bring clarity in understanding the relationship between different factors influencing merger performance.
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Ahmadzai, Mohammad Sangar. "Role of IT Specialists in the Information System Integration Process : The Case of Mergers and Acquisitions." Thesis, Linnéuniversitetet, Institutionen för informatik (IK), 2020. http://urn.kb.se/resolve?urn=urn:nbn:se:lnu:diva-99451.
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Purpose: The purpose of this study is to explore the role of IT specialists in systems integration during M&A processes including the issues faced during the process and provide suggestions based on experience from top management staff and IT specialists about improving the merger-IT integration process. Methods: In-depth interviews with open-ended questions were conducted on ten individuals belonging to the senior management of the companies under the study. The collected data were transcribed and analyzed and coded using qualitative thematic analysis to derive categories and themes. Results: The analysis resulted in 5 themes and 14 categories from a total of 39 codes. The analysis revealed the implications of "Underestimating the importance of IT" and analyzed the "Preferred IT integration approach" methods followed by the participants. The coded data also revealed the "Perception of management toward including IT and IT experts" and the “Issues faced in the M&A process due to the delay/non-involvement of IT experts". The results of the analysis conclude with the "Perceptions of managers toward the timing of IT integration" and suggestions from the participants based on their experiences. Conclusion: The five themes obtained from the qualitative thematic analysis from the interviews of ten participants suggest that IT and IT specialists were a necessary and core function of the M&A process. The analysis also recommends senior management responsible for the merger or acquisition engage IT, specialists, during the early stages of the process to enable better IT integration and follow a centralized approach towards merging the IT systems.
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Langenstein, Karl. "Post Merger Integration Management." Lohmar Köln Eul, 2006. http://deposit.d-nb.de/cgi-bin/dokserv?id=3010956&prov=M&dok_var=1&dok_ext=htm.
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Langenstein, Karl. "Post Merger Integration Management /." Lohmar [u.a.] : Eul, 2007. http://deposit.d-nb.de/cgi-bin/dokserv?id=3010956&prov=M&dok_var=1&dok_ext=htm.
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Suzuki, Mami. "Post merger performances in Japan." Oberlin College Honors Theses / OhioLINK, 2005. http://rave.ohiolink.edu/etdc/view?acc_num=oberlin1354892540.
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Vogel, Daniel. "Merger Waves and Post-Transaction Performance." St. Gallen, 2006. http://www.biblio.unisg.ch/org/biblio/edoc.nsf/wwwDisplayIdentifier/00635532001/$FILE/00635532001.pdf.
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Grimpe, Christoph. "Post Merger Integration der Forschung und Entwicklung /." Wiesbaden : Dt. Univ.-Verl, 2005. http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&doc_number=014712488&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA.
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Bauch, Clea. "Planung und Steuerung der Post Merger-Integration /." Wiesbaden : Dt. Univ.-Verl, 2004. http://www.gbv.de/dms/zbw/393535037.pdf.
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Barker, Antony Ellis. "The role of culture in post-merger performance." Diss., University of Pretoria, 2012. http://hdl.handle.net/2263/29335.
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Mergers and acquisitions remain a popular means of corporate growth but the role played by organizational culture remains poorly understood. Badly executed cultural integration is a leading cause of post-merger performance not meeting stakeholder expectations (Cartwright&Schoenberg, 2006). This paper reviews the literature on cultural integration in the context of mergers and acquisitions and provides insight into cultural assessment and integration.The study takes the form of exploratory research with findings from twelve semi-structured interviews collated and tested against five propositions that together build a reference point for cultural integration. Five cultural assessment tools are incorporated into a single view to provide the reader with a clear framework against which to assess organizational culture.The study validates the proposition that cultural integration plays a key role in post-merger performance and provides key elements towards a successful integration. The study goes on to find that cultural integration is necessary for post-merger performance, an integration plan should be built early in the pre-merger process, top management has an integral role to play in the post-merger integration of culture, large cultural differences can be an opportunity and that the level of learning and knowledge application in mergers and acquisitions is poor.<br>Dissertation (MBA)--University of Pretoria, 2012.<br>Gordon Institute of Business Science (GIBS)<br>unrestricted
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Frank, Christian. "Strategien in Post-Merger-Integrationen eine experimentelle Turniersimulation." München Mering Hampp, 2009. http://d-nb.info/1000474062/04.
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Mathea, Michael. "Prüfung der Post-Merger-Integration auf Basis internationaler Prüfungsnormen." Düsseldorf IDW-Verl, 2007. http://d-nb.info/98886620X/04.
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Chivaura, Munashe, and Neto Renato Melillo. "Agility in Post-Merger Integration : A Catalyst to Innovation." Thesis, Umeå universitet, Företagsekonomi, 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-160780.
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Agility is referred to as the ability of a firm to proactively or reactively adapt successfully to rapid changes within the business environment both internally and externally. The Post-Merger Integration (PMI) phase is characterized by rapid organizational changes which require new strategy methods that suit the nature of today’s fast paced business environments. Though characterized by changes, the PMI presents an opportune moment for the transformation of a business by exploring and exhausting the innovation potential of the integrating firms through the use of agile aspects that seek to identify risks and explore opportunities in a nimble manner. These aspects are several, but in this study, we delve into three namely, flexibility, adaptability and customer focus. The aspects of agility originated from fields of Software Development and are fairly new to the discipline of Business Administration but are considered to be evolving and popular across other fields of study. The current era is noted by scholars as the Scaled Agile Framework Development Era which is characterized by an emergence in agile frameworks that aid in large scale programs of an organization, such as the PMI in this case. This era represents a steppingstone to business agility, the future of agility that seeks to transform an organization to be adaptive to changes. The purpose of this study is to develop an agile framework drawing from empirical findings of the use of agility aspects in the context of a merger and acquisition, more specifically, the post-merger integration phase, to act as an innovation catalyst. To obtain insights and a better understanding on what we set ourselves to research, we explore an embedded single case study of a firm operating in a traditional industry, the maritime industry, in order to investigate the following research question:How can agility in the context of a Post-Merger Integration (PMI) contribute toinnovation? Eight semi-structured interviews with senior executives and senior managers of the case company were conducted in order to draw insights on their previous experiences with mergers and acquisitions. Empirical evidence was collected and coded in line with the Gioia methodology and with the aid of references to extant literature we began to build theory thereof. Our findings revealed that agile aspects may be adopted to complement and not necessarily replace existing hierarchical structures, procedures and processes within the PMI. Additionally, all three aspects of agility we sought to investigate prove to be useful to promote innovation in PMIs when adopted. The theoretical contribution of our study is the development of an agile framework that may be utilized in the PMI to identify, exploit and exhaust the innovation potential of the M&A activity. Furthermore, the framework may be validated in a different company or setting other than the company under study.
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Dušička, Jiří. "Post-akviziční integrace." Master's thesis, Vysoká škola ekonomická v Praze, 2013. http://www.nusl.cz/ntk/nusl-192751.
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The objective of this thesis is to provide a comparison of theoretical knowledge, mapping processes in the post-merger integration, including the perspective of professionals and an assessment of the post-merger integration in selected company in terms of achieving the objectives of the integration project. Further objective of the thesis includes an analysis of the integration from the perspective of corporate culture, perception of employees and basic information on analyzed acquisition. The primary benefit is to create a theoretical basis for the integration process for further detailed research and theoretical preparation for the implementation of the post-merger integration. At the practical level following thesis should serve as a general guide on how to proceed in this process. The practical part contains a comprehensive analysis of the integration phase and its impact on the selected company, comparison with the best practices and general recommendations. Furthermore the thesis provides a high level perspective on the acquirer's future development and its long-term profile. Research methods were mainly driven by interviews with the management of the company, analysis of internal documents and questionnaire.
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Maphwanya, Ratshidaho. "Supplier development funds as merger remedies : an ex-post review of the Walmart-Massmart merger remedies." Diss., University of Pretoria, 2019. http://hdl.handle.net/2263/73984.
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The purpose of this research was to conduct an ex-post review of the Walmart-Massmart merger remedy, focusing on the impact of the supplier development fund on the SMMEs it supported. The research also considered the impact of the supplier development fund on Walmart-Massmart as the buying firm as well as the use of a panel of experts in designing the fund and how this affected the outcomes achieved. This qualitative research was conducted as a single-sample case study. Interviews were conducted with a representative of Walmart-Massmart, some of the suppliers who participated in the fund, and one of the experts who was on the panel of experts used by the Competition Appeals Court. The research found that the supplier development fund assisted the suppliers with funding for capital expenditure, working capital, access to markets, improved governance and operational efficiencies. As a result, the suppliers grew and were able to hire more employees. The research also found a positive benefit for Walmart-Massmart. Finally, the research found that the panel of experts played a critical role in the design and development of the fund which was important given that this was the first condition of its kind in South Africa.<br>Mini Dissertation (MBA)--University of Pretoria, 2019.<br>ls2020<br>Gordon Institute of Business Science (GIBS)<br>MBA
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Nasir, Ufra, and Adil Riaz. "Employees’ motivation in post-Merger phase : The Case of Premo and Bring Citymail, Sweden." Thesis, Högskolan i Gävle, Företagsekonomi, 2016. http://urn.kb.se/resolve?urn=urn:nbn:se:hig:diva-22345.
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Aim: The aim of our research is to explore and narrate the post-merger effects on employees' motivation and effective managerial role for the motivation management in the staff in Post-Merger Phase. Methodology: The research is qualitative and covers both, the managerial and employees’ approach through application of Herzberg (1966) motivational theory to assess certain changes in employees’ motivation level during the Post-Merger phase. Primary data is sourced from face to face interviews of respondents and narrated in empirical findings. Analysis and conclusion are derived on the basis of the State of Art theories. Conclusion: Merger affects the employees’ motivations by ignoring their motivational factors, communication and information sharing management. Managerial role is important to answer the employees’ job insecurities and maintain the level of their motivation effectively. Optimum employees-organization relationship can be secured through effective information and communication management for the success of corporate objectives and employees’ satisfaction. Contribution: The research greatly contributes towards knowledge in management studies and relevant information is useful for business management students, managers, and Merger implementing management about certain aspects of consequential organizational changes and motivational factors of the workforce. The repeated research to periodically observe the staff's motivation and effective managerial implements can enhance in-depth knowledge of potential effective remedies especially for new and possibly merging organizations. Through such kind of research works, Merger failure rate can be reduced and overcome gradually that result due to employee’s diminishing motivations at workplace and management's’ failure to take cognizance of Post-Merger changes in employee’s behaviour
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Morrison, Selwyn Hilary. "Factors influencing employee perceptions of a post-merger working environment." Thesis, Nelson Mandela Metropolitan University, 2011. http://hdl.handle.net/10948/1604.
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Higher Education in the late 1990’s experienced significant problems with capacity due to many black students applying to enter previously white institutions (Jansen, 2002:159). The main concern of the new ANC government was the status of historically black institutions. They were unstable due to the migration away from black to white universities and technikons. This reduced their financial status and viability. In addition, the anticipated huge increase in black enrolments in higher education had not materialised (Finweek Survey, February 2009). In order to overcome both of these problems, the then Minister of Education decided to press ahead with a merger programme aimed at reducing the number of higher education institutions from 36 to 21 (Jansen, 2002:6). The primary objective of this research is to investigate the factors that influence employee perceptions of a post-merger Working Environment and Organisational Commitment: a case study of the administration staff in the Finance Department at Walter Sisulu University. There seems to be a lack of efficiently and effectiveness in the he operations of the Finance Department of Walter Sisulu University which this research will investigate through finding solutions to factors of improving the relationship between employee perceptions of their post-merger Working Environment and their Organisational Commitment. This exploratory study collected primary data through the distribution of questionnaires to 59 employees from the Finance Department at the Walter Susulu University, with a 69.12% response rate. The survey included closed questions that were analysed using statistical techniques. The findings revealed overall low scores of 31% for employee perception of their post – merger Working Environment and 50.21% for Organisational Commitment, together with its sub-dimension Affective, Continuance and normative. These scores are disturbing and need to be urgently addressed by the management of the Institution. The implication of the Finance staff’s low perception of their post – merger Working Environment and organisation Commitment is that the institution’s goals will be difficult to be fulfilled due to the low morale of the staff and the non-conducive working conditions. The Institution’s Management should be more transparent, more trustworthy, and more supportive towards staff members and have a good overall communication strategy.
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Goh, L. "Mergers, executive compensation, and post-merger performance of acquiring firms." Thesis, University of Cambridge, 2006. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.599461.
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This thesis examines the relationships between takeovers, executive compensation, and post-merger performance of acquiring firms using a sample of UK firms making acquisitions in the 1999-2000 period. While literature exists covering these research areas individually, there has been little research on the takeover-compensation relationship. Existing research on compensation finds a strong positive relationship between firm size and executive compensation, while much of the empirical literature on takeovers finds a non-positive change in performance of acquiring firms following takeover. The existence of these two relationships supports the conjecture that executives will have an increase in compensation following takeover due to increased firm size, while shareholders are likely to lose. Empirically, this thesis examines the elasticity of pay to firm size and performance variables surrounding takeover. It finds that on average, firm size is a key determinant of compensation, and that in takeover years, there is no extra bonus or under-compensation that is not already accounted for by size or performance variables. This suggests that the executive is compensated at the same elasticity in merger years, i.e. for the increased firm size. When changes in the value of the executive’s shareholdings in the firm are included in his monetary interest, there is evidence of an alignment of interests with the shareholder, but of a low magnitude. The thesis also examines the actual post-merger performance of the same sample of firms, principally finding a non-positive return, but different performance depending on the characteristics of the acquiring firm and the takeover. It finds that market performance is better in firms where executive shareholding is high relative to compensation, firms that pay with cast, those making relatively small takeovers, and firms with a low market-to-book value. Performance is worse among firms with low ownership, those paying in some part with shares, and those with high market-to-book value. This adds to existing research and provides evidence in a more recent context, and shows that the decline is present for the same sample in which pay is elastic to firm size, which grows via takeover. Finally, these relationships between executive compensation, takeover, and post-merger firm performance are examined using firm-specific examples, primarily using cases drawn from the sample of firms. The results from this thesis show that executives may have an incentive to carry out takeovers, because their compensation is likely to increase, proposing compensation as a driver for takeover. In addition, confirming the decline in firm performance following takeover, it suggests that these decisions are made at the expense of shareholders, while executives gain.
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Florén, Jonas, and Kian Rousta. "Assessing an IT system implementation in a post merger scenario." Thesis, KTH, Skolan för industriell teknik och management (ITM), 2020. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-279654.
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Mergers and acquisitions (M&A) are today two common ways to expand and grow businesses. However, studies report that around 50-75% of all M&A transactions fail to yield expected results. This study focuses on the value creation realized in the post merger integration. During the post merger integration, organizational structures, IT systems and work routines need to change and integrate in order to achieve the desired synergies. Often when processes need to change or new ways of working are implemented, artifacts are utilized to facilitate the change. However, managers often fail to recognize the social perspective of organizational change. This study analyzes how a warehouse management system was used in a post merger integration to drive organizational change and establishing a common way of working between employees from different companies. The researchers have conducted a case study at a private equity firm that recently acquired and merged six companies in the fast moving consumer goods industry. As part of the case study, interviews and observations were made. This thesis presents two main results. First, that the choice to adopt a system-first-approach and neglecting human and task integration in the PMI resulted in several obstacles. The case company focused solely on system integration to realize the most obvious synergies of the different companies. This caused employee resistance and lack of trust and confidence towards managers and their intentions. It also yielded an ungiving and unhelping culture between employees that previously belonged to different companies. This indicates the importance of mixing employees from different companies after the merger. Moreover, the importance of creating cultural-unity under one brand is discussed. The results indicate that there should be a balance between human integration and task integration when merging several companies. Consequently, we present a two-by-two matrix that outlays the dependency of company characteristics on integration focus. Secondly, managers at the case company put too much faith and emphasis on artifacts and systems to change organizational behavior and neglected the perspective of sociomaterialism. This resulted in a failed implementation of the warehouse management system due to neglecting the employees’ perspective and ways of working. As a result, employees developed workarounds to the system and later abandoned the system. Consequently, managers should have adopted a technochange perspective when driving organizational change with IT systems. This means that the implementation of an IT system should be consider in conjunction with employees and their routines.<br>Fusioner och förvärv är två vanliga metoder som idag används av företag för att växa och ta nya marknadsandelar. Trots detta visar studier att 50-75% av alla förvärv misslyckas med att realisera förväntade synergier. Denna uppsats fokuserar på värdeskapandet som sker i integrationsfasen efter sammanslagningen. Under integrationsfasen integreras IT system, arbetsprocesser samt organisationsstrukturer för att realisera synergier. I samband med att företag ändrar på arbetsrutiner brukar artefakter användas för att stödja förändringsarbetet. Denna uppsats studerar hur företag kan använda sig av IT system under integrationsfasen för att driva förändring samt för att etablera ett gemensamt arbetssätt hos anställda med olika företagsbakgrunder. Denna uppsats är skriven tillsammans med ett riskkapitalbolag som tidigare köpt upp och slagit ihop sex företag inom industrin för snabbrörliga konsumentvaror. Som en del av fallstudien utfördes intervjuer och observationer på portföljbolaget. I denna uppsats presenteras två huvudresultat. Det första; bristen av fokus på integration av anställda från olika bolag ger upphov till motstånd och lågt förtroende till beslutsfattande. Det resulterade även i en fientlig och icke-hjälpande kultur mellan anställda med olika företagsbakgrunder. Resultaten påvisar vikten av att blanda anställda från olika företag i nya arbetssätt för att skapa tillhörighet och hjälpsamhet. Resultaten indikerar också att det är viktigt att ha ett gemensamt varumärke som alla anställda kan ställa sig bakom. Därför diskuteras balansen mellan integrering av anställda samt processer i en sammanslagning. I uppsatsen presenterar vi en två-gånger-två matris för att illustrera förhållandet mellan ett företags industriella karaktärsdrag samt integreringsfokus. Det andra huvudresultat visar att ledning samt styrelse hade för stort förtroende på artefakter för att förändra organisationellt beteende, det sociomaterilaistiska perspektivet följdes inte. Detta resulterade i en misslyckad implementering av ett IT system som ämnade att förändra beteendet hos anställda och realisera synergier. Anledningen hänvisas till försummelsen av de anställdas perspektiv samt arbetssätt. Detta resulterade i att de anställda utvecklade egna lösningar och i ett senare skede slutade använda systemet helt och hållet. Följaktligen borde företaget ha anammat ett “technochange” perspektiv för att driva förändring genom IT system inom företaget. Detta innebär att IT systemet måste ses som ett ekosystem tillsammans med anställda och arbetsprocesser, inte som ett självständigt system.
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Sommerrock, Fabian. "Erfolgreiche Post-Merger-Integration bei öffentlichen Institutionen : Fallstudienanalyse bei Sozialversicherungsträgern /." Wiesbaden : Gabler, 2009. http://d-nb.info/997083948/04.
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Alsharairi, Malek Ahmad Refai. "Pre-merger earnings management : Sarbanes Oxley, leverage and non-cash acquisition premia." Thesis, Durham University, 2012. http://etheses.dur.ac.uk/3407/.
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The objective of this thesis is to investigate earnings management within a structured sample design focusing upon a M&A context in the US by addressing three main empirical questions in three studies. The first study examines whether firms near M&A manage their earnings and whether this practice has changed after Sarbanes-Oxley Act (SOX). The second study investigates whether debt-financing has implications on event-specific earnings management. Finally, the third empirical study challenges the effectiveness of earnings management in a M&A context by proposing that acquirers’ pre-merger earnings management can be uncovered and adjusted by the transacting targets. The key findings of the first study in this research suggest a strong tendency on the acquirer’s side to manage their earnings upwards before completing non-cash deals, while weak evidence is reported on the target’s side. More importantly, pre-merger earnings management does not seem to be significantly different between pre- and post-SOX eras, despite the assertions that the enactment of SOX was aimed at improving the reporting quality and the containment of earnings management practices. Given that SOX led to stronger due diligence and a more intense use of advisors for M&A deals, it could be argued that the setting of M&A activity creates a greater opportunity to manage earnings, given that managers’ resourcefulness for planning and altering accounting numbers is exclusively much greater in the case of M&A after SOX. However, this finding could be a consequence of employing cross-sectional accruals’ models, by which earnings management is detected relatively to the average level of normal accruals in peer firms at the time of estimation, whilst peer firms’ in general have adopted conservative reporting policies since the enactment of SOX. The second study reports a strong inverse relation between the pre-merger income-increasing earnings management levels and the industry-adjusted leverage of the non-cash acquiring firms, which is consistent with Jensen’s (1986) control hypothesis. This evidence highlights the importance of the industry-adjustment for leverage proxies in earnings management studies and proposes the use of structured sampling designs that controls for the firms’ motivation to manage earnings. The second study’s contribution leads to a better understanding of how a firm makes an accounting choice when it does favour one choice for its economic incentives but at the same time it is under creditors’ monitoring pressures. The third empirical study provides robust evidence of a positive relation between acquirers’ pre-merger earnings management and the non-cash acquisition premia. This evidence contributes to the existing literature by suggesting that even if the managerial team has succeeded in manipulating what is reported on paper, it may actually fail to influence the users’ perceptions - especially the sophisticated ones. The evidence challenges the naive investors’ hypothesis of Sloan (1996), which has been repetitively assumed by several studies in contexts where equity shares are issued.
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Bachmann, Harald Bachmann Harald. "Post Merger Integration von Logistikunternehmen : eine branchenspezifische theoriegeleitete und empirische Analyse /." [S.l.] : [s.n.], 2008. http://dx.doi.org/10.1007/978-3-8349-8118-9.
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Bachmann, Harald. "Post Merger Integration von Logistikunternehmen eine branchenspezifische theoriegeleitete und empirische Analyse /." kostenfrei, 2008. http://www.biblio.unisg.ch/www/edis.nsf/wwwDisplayIdentifier/3493.
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Barnikel, Kerstin. "Post-Merger-Integration Erfolgsfaktoren aus der Sicht von Mitarbeitern und Experten." [Bremen] Salzwasser-Verl, 2006. http://d-nb.info/984668101/04.
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Grohmann, Otto. "Integration der Informationstechnologie im Rahmen des Post-merger-Managements mittelständischer Industrieunternehmen." Kassel : Kassel Univ. Press, 2007. http://d-nb.info/986596388/34.
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Drowley, Melinda J. "Post-merger narratives in a higher education context : (re)constructing identity." Thesis, University of South Wales, 2012. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.581433.
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When a small, specialist higher education institution merged with a large university, both parties declared an interest in protecting the identity of the smaller institution. This thesis is concerned with the discursive (re)construction of the post-merger identity of that institution. It is informed by an appraisal of the policy context and a critical review of the literatures of mergers and acquisitions; organisational culture; organisational identity; and organisational discourse and stories. There is a tendency within mergers and acquisitions literature to concentrate on acquiring companies; to adopt a managerialist perspective; and to measure success in financial terms, This research focused instead on the acquired institution. Eschewing a managerialist perspective, stories were elicited from all those most closely affected by the merger, including staff, students, senior managers and governors. This thesis seeks to offer insights into human experiences of merger; to identify grounded criteria for evaluating success; and to locate the merger within wider socio-economic and political contexts. Findings from the analysis of twenty-nine semi-structured-interviews are presented as scripts for documentaries. Anonymised quotations from participants are interwoven with commentary from the researcher, to form new, plurivocal narratives. The audience anticipated is one familiar with the context and ready to engage with a scholarly approach. Conclusions are presented in an open letter to the Minister for Education and Skills in the Welsh Govemment. Discourses identified within the interviews are mapped on to a model which presents types of organisational culture found in universities (McNay, 1995). This opens up the possibility of accounting for the production and reproduction of the cultures, with their associated subject positions and forms of organisational identity. Lessons to be learned from analysis of the merger are elucidated, with a view to enriching the quality of debate about the future of higher education in Wales and beyond.
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Bachmann, Harald. "Post Merger Integration von Logistikdienstleistern : konzeptionelle und empirische Analyse branchenspezifischer Integrationskompetenzen /." Wiesbaden : Gabler [u.a.], 2008. http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&doc_number=017183512&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA.
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Chiaranda, Enrico <1991>. ""The managerial impact of Post-Merger Integration: the Fiat-Chrysler case"." Master's Degree Thesis, Università Ca' Foscari Venezia, 2016. http://hdl.handle.net/10579/9086.
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The economic and financial crisis that broke out in the United States in 2008 and all over the World in the immediate subsequent periods, has deeply affected the sense of making business, reverting theories considered as pillars of the business administration up to that time. The Merger and Acquisition practices are increasing year by year since the financial crisis, both in the overall number of transactions and, above the rest, the value “moved” during each of these operations. It seems like that the companies have started to prefer the shared and joint effort rather than the individualistic one: businesses have developed a sort of veiled risk adversity toward the instability of the market and global economy, preferring then to share the results with partners willing to share the risk as well. The union of forces is strengthening the power of the economic actors in the market, while reducing their number: less and less actors are showing themselves able to resist to nowadays market rules, but the lower the number of competitors, the higher is the percentage of market share held in their hands.
The purpose of this paperwork is to analyze the reality of the Merger and Acquisition (M&A) practices under a twofold light: theoretically and practically. It is fundamental understand the rationale behind an M&A process, to have a general illustration of which are the basic notions and concepts of the reasons why companies put strengths together to compete in the market. It is necessary to understand how an M&A develops and which is the process that managers need to carefully program. Carry on and administer to create the basic conditions for the success of the future unification. The scope of this paper is to investigate posing the most of the attention on the core moment of an M&A process, the Post-Merger Integration (PMI) that is the fundamental point since which all the merger process can end with a success or with a failure. The PMI phase needs to be handled carefully by those in charge to finalize the M&A, because especially if we are talking about an international operation, the risk is to underestimate the differences between the organizations and cultures involved in the unification process, as well as to make mistakes in the administration of timings and the involvement of the right actors in the right place. A good “integrator” is required to observe and consider the degree to which integrate the two companies and evaluate whether totally absorb one into the other or let the two coexist at the same time, to preserve the diversity of businesses and then exploit it as a source of competitive advantage. The other side of the medal for this analysis has a more “practical” nature and will be centered on the study of a real case of M&A that has been carried out in the last year: the Merger between Fiat S.p.a. and Chrysler LLC, which gave birth to Fiat Chrysler Automobiles N.V. . The FCA Merger represents an emblematic point in the evolution of the automotive sector and particularly interesting it is to observe how this unification process has been different (in both the nature and conditions of development) from the previous partnerships that Fiat and Chrysler have tried to set up with General Motors and Daimler, respectively. One of the points of biggest interest in this paper is the study concerning the evolution of the managerial team of FCA, trying to understand the overall structure and isolate the provenience of each Officer to identify whether there is or not a balance in the number of managers coming from the former two organizations.
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Aass, Ulrik Nikolai, and Endre Oppen. "Communication and Experienced Change in Relation to Employees' Post-Merger Perceptions : A Case Study of the EDB ErgoGroup Merger." Thesis, Norges teknisk-naturvitenskapelige universitet, Institutt for industriell økonomi og teknologiledelse, 2012. http://urn.kb.se/resolve?urn=urn:nbn:no:ntnu:diva-21072.
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While mergers and acquisitions continue to be a popular path for companies in the 21st century, research suggests that they frequently fail to deliver the expected value, and that this often is due to complex human-related issues in the integration process. This thesis aims at understanding the challenges faced by merging companies, with a focus on the factors contributing to employees’ satisfaction with work-life post-merger. This has been investigated both theoretically and empirically through the topics of change content, employees’ approach to change, and communication. The methodology applied in this research was an embedded case study, with the Norwegian IT company EVRY as the main case. Within EVRY, three subcases representing three different business units were investigated. The collected evidence included documentation, results from employee satisfaction surveys, and interviews with high-ranking executives, middle managers and employees. The topics of the framework that was developed, and the interrelations between them, were found to significantly affect how employees perceived their work-life, with factors both increasing and decreasing satisfaction. The analysis of empirical findings materialized in a discussion where several important implications were brought forth. First, it was shown how merging companies must ensure that communication is adapted to the change content faced by each unit, and second, that the focus of top management can be detrimental to how they are assessed by employees. Third, it became evident that communication will play a vital role in creating perceptions of equality between the merging companies, and fourth, that the changes employees are subjected to will influence how they want to be involved in the merger integration process. During the empirical investigation, a fifth topic that was not part of the framework arose as particularly important to employees. This concerned how the change process was facilitated, and demonstrated how merging companies must be aware of the sequence in which changes are implemented, the speed of the change process, and that all changes must be followed by adaptations of the organization.
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Roodt, Kendra-Lynn. "Strategies for value-creation in a post-merged organisation." Thesis, Nelson Mandela Metropolitan University, 2011. http://hdl.handle.net/10948/8650.
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A merger occurs when two or more organisations integrate for a specific reason and become one entity in order to ensure success. Careful consideration and thorough planning must be done and several steps need to be followed to avoid a merger being unsuccessful. Good leadership and communication strategies are the key to a successful merger. This study deals with the strategies for value-creation in a post-merged organisation and the main problem that this research study addressed was: What strategies could an organisation use to ensure that desired values are created in a post-merged organisation? To answer the above question it was necessary to address the preferred organisational values and outcomes of a successful merger and leadership strategies that organisations can utilise to ensure that the preferred values and outcomes of a merger are achieved. Thereafter, various models were outlined and evaluated and a proposed integrated model for the implementation of desired values in a merged institution element was developed to ensure that the members of the organisation internalise the desired values and that these values are reflected in all organisational functions and behaviour. Lastly, based on the theoretical findings of the literature survey, a questionnaire was developed and distributed amongst employees of the Nelson Mandela Metropolitan University (NMMU). As a result of this study it was clear that it is imperative that the decision to implement the leadership and communication strategies proposed in the integrated model remains with the senior management. The organisation will only experience success while coordinating these strategies if senior management is totally committed to the process.
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Li, Lu. "The impact of pre-merger disclosure and acquisition experience on mergers and acquisitions." Thesis, Durham University, 2018. http://etheses.dur.ac.uk/12902/.
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This thesis focuses on the effect of factors in the pre-acquisition planning stage on M&A outcomes. With three empirical chapters, the main findings provide compelling evidence that pre-acquisition factors are related to M&A fundamentals such as the motivation and incentives to carry out M&A transaction, and play significant roles in deal’s negotiation and post-acquisition integration. The first empirical chapter of this thesis investigates whether the voluntary disclosure at pre-acquisition issuance activities, i.e. the intended ‘use of proceeds’, has influence on subsequent M&A outcomes. The results show that firms disclosing acquisition intention at debt/equity issuance significantly raise more funds but fail to allocate capital efficiently on value-increasing M&A transactions. This evidence is consistent with the capital need theory. The second empirical chapter examines the wealth effect of mega corporate takeover and explores whether rich acquisition experience facilitate acquirers to generate shareholder value in mega-deals. The findings show that acquirer’s acquisition experience is positively related to mega-deals completion likelihood, stock performance in short- and long-run, and operating performance in the long-run following mega-mergers. The evidence indicates that acquirers are able to learn though experience and develop skills to deal with the complexity of mega-mergers. The final empirical chapter provides evidence on the relationship between target CEOs’ acquisition experience and takeover gains for target shareholders. The results show that target shareholders are likely to receive lower bid premiums and earn lower abnormal stock returns around deal announcement when they have a CEO with more acquisition experience. Additionally, target CEOs’ acquisition experience is positively related to stock payment. Our evidence suggests that more experienced target CEOs tend to bargain for more personal benefits related to the voting influence in the combined firm instead of helping their shareholders to gain bargaining advantage in the negotiation.
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Bichel, Katsiaryna. "Understanding post-entry pre-integration lentiviral biology." Thesis, University of Cambridge, 2013. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.648287.
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Lohre, Stephan. "Die Gestaltung zentraler Post-Merger-Integrationsprozesse : eine anwendungsorientierte Konzeption eines prozessorientierten Vorgehensreferenzmodells /." Hamburg : Kovač, 2010. http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&doc_number=018945179&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA.
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Barnikel, Kerstin [Verfasser]. "Post-Merger Integration : Erfolgsfaktoren aus Sicht von Mitarbeitern und Experten / Kerstin Barnikel." Hamburg : Diplom.de, 2007. http://d-nb.info/1187963992/34.
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Lohre, Stephan. "Die Gestaltung zentraler Post-Merger-Integrationsprozesse eine anwendungsorientierte Konzeption eines prozessorientierten Vorgehensreferenzmodells." Hamburg Kovač, 2009. http://d-nb.info/999294113/04.
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Stastny, Connor. "Analysis of SEC Budget’s Effect on Pre-Merger and Acquisition Announcement Price Run Up." Scholarship @ Claremont, 2017. http://scholarship.claremont.edu/cmc_theses/1679.
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Prior to the announcement of a merger or acquisition, the stock price of the target company often experiences a price run-up prior to the announcement of the transaction. This price run-up can be attributed to information leakage and insider trading. This paper examines how changes in the SEC’s budget effects the pre-announcement price run-up of mergers and acquisitions. Furthermore, this paper explores the political processes surrounding SEC budgeting, as well as flaws in the current system. This paper finds that with a $10 million increase in the SEC’s budget, the average pre-announcement run-up ratio decreases by 0.3%. The findings of this paper suggest a concrete means of reducing insider trading, dependent on an increase in SEC budget.
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Iamratanakul, Dhanakorn. "Pre-actuation and post-actuation in control applications /." Thesis, Connect to this title online; UW restricted, 2007. http://hdl.handle.net/1773/9968.
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Trochez, Melly. "Latina Women Identity Formation Pre and Post Immigration." Digital Commons at Loyola Marymount University and Loyola Law School, 2011. https://digitalcommons.lmu.edu/etd/81.
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This paper is an exploration of what culturally constitutes Latina identity formation pre and post immigration specifically looking at women from Mexico and Central America, with a special interest in looking at how acculturation impacts identity formation. This also investigates the mental health needs of immigrant Latina women particularly struggling with acculturation and lost sense of self. The eight women participants were selected from Santa Rosa de Lima church in Simi Valley. The women created art on three Saturdays in response to the directives presented by the researcher, all art prompt involved exploration on identity. The art was studied in a qualitative method with a presentation of the art, the analysis and the findings. The art demonstrates the importance of family cohesiveness and the challenge for Latinas to identify their personal needs away from the needs of their families. The art also suggests that acculturation can evoke stress, depression, anxiety and lost sense of self.
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Iveson, Michael Ronald. "Consumer issues in property : pre and post 1980." Thesis, Queensland University of Technology, 1998. https://eprints.qut.edu.au/36084/1/36084_Iveson_1998.pdf.
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This research thesis examines the public perception of real estate agency professionalism, or the perceived lack of it. A study of the responses of 25 Queensland solicitors (selected at random) representing over 2340 buyers and sellers involved in 1170 transactions, provided the basis for concluding that, in Queensland,
real estate agents do not usually represent the buyer or seller in a manner, determined in common law, fiduciary duty, or in fulfilment of statutory obligations. This confirms American research findings that have resulted in changes to the way real estate agency transactions occur in the United States of America, as well as promoting changed legislative responses to real estate agency laws in the United States.
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Herbes, Carsten. "Post-Merger-Integration bei europäisch-japanischen Unternehmenszusammenschlüssen : konfliktorientierte Analyse am Beispiel des Lieferantenmanagements /." Wiesbaden : Dt. Univ.-Verl, 2006. http://deposit.d-nb.de/cgi-bin/dokserv?id=2844651&prov=M&dok_var=1&dok_ext=htm.
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Ethelontis, Chloe. "The process of post-merger and acquisition integration : an application of archetype theory." Thesis, University of London, 2011. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.540116.
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Kirsch, Anja. "Union Mergers as a Revitalization Strategy and the Role of Post-merger Integration." Thesis, The University of Sydney, 2008. http://hdl.handle.net/2123/10131.
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Two observations form the starting point of this thesis. The first observation is that in many developed market economies, unions’ response to membership decline and to decreasing economic and political influence is to merge. Union merger strategies are often embraced with the expectation that they will result in “revitalization”: more members, and greater economic and political influence. In practice, however, union mergers rarely result in revitalization. This thesis explores why many unions adopt a merger strategy when there is no clear evidence to suggest that mergers can deliver revitalizing results by examining whether and how union mergers can contribute to revitalization. To this end, a framework for analysing merger outcomes is developed. The framework consists of five dimensions. In the membership dimension, it examines post-merger developments in membership. In the economic dimension, it assesses a merged union’s bargaining power. In the political dimension, it focuses on post-merger political influence. In the institutional vitality dimension, it examines recruitment and retention, as well as gender equity in a merged union. In a fifth dimension, it assesses three prerequisites for revitalization: the reduction of inter-union competition, the achievement of synergies, and improvements in the provision of services to members. This framework is applied in a case study of the German service sector union Vereinte Dienstleistungs¬gewerkschaft (ver.di). Ver.di was established through a merger of five unions in 2001. It is one of the largest unions in the world and represents workers in more than 1,000 occupations in the public and private services sector. By analysing ver.di’s merger outcomes, the study reveals that in ver.di’s case, revitalization was not achieved along any of the five dimensions. In some instances, the opposite of the desired effect occurred, and in others, the results were mixed. Ov erall, the ver.di merger cannot be considered a successful r! evitaliz ation strategy. A second observation made at the outset of this research is that similarly to union mergers, mergers among business organizations are often undertaken as a strategy for “corporate renewal”. Moreover, corporate mergers also frequently fail to create value for the firms involved. However, in the literature on corporate mergers, it is recognized that merger failure is often caused by shortcomings in the management of the post-merger integration process. This thesis explores the post-merger integration process in unions by examining what role post-merger integration plays in determining whether a union merger leads to revitalization. A framework for analysing both the structural and cultural integration of merging unions is developed. The structural aspects it examines are which structures are put into place at the time of a merger, how those structures are found to hamper the achievement of merger goals, and how a union leadership goes about r emoving structural impediments to integration. The cultural aspects it examines are the development of a new organizational identity and mission in a merged union, the development of a common collective bargaining strategy and the coordination of bargaining across industries, and the emergence of a culture that promotes innovation. The framework is applied to the case study union ver.di. It is found that ver.di’s structural and cultural integration processes were not completed seven years after the merger. In addition, the union leadership was highly constrained in its management of post-merger integration. Together, these findings build our understanding of union mergers as a revitalization strategy and the role of post-merger integration. When unions formulate a merger strategy for revitalization, they need to implement it in a way that ensures its success. External factors, such as employer and state strategies, and economic and political developments, can hav e an impact on the implementation of a merger strategy. Yet ! internal factors, in particular structural and cultural integration in the merged union, are pivotal for is success.
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Abdi, Mohamed Aukar, and Song Pantaléon. "The Process of Post-Merger Organizational Identification : An analysis of mergers and acquisitions." Thesis, Umeå universitet, Företagsekonomi, 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-160655.
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Today, mergers and acquisitions often grab headlines due to the large sums of money involved, and the number of stakeholders affected by it. Still, the increase in merger and acquisition activities, the capital involved, and the pervasiveness of these activities stand in sharp contrast to their high rates of failures. Scholars have attributed the failure of mergers and acquisitions to management failure when it comes to dealing with human aspects during the integration phase. The purpose of this paper was to examine how individual’s identities change overtime in a merger. More specifically, it examines the process of post-merger organizational identification in merger contexts through the lens of social identity theory. From this purpose, we formulated the following research question and two sub-questions: • How can post-merger identification be managed and integrated in an organization? o How can organizational identities transit from a pre-merger state to a post-merger state successfully? o What is the outcome of the post-merger identification process? The method used in this study was qualitative with an interpretive approach, which allowed us to gain a deeper understanding regarding the purpose and to answer our research question. Primary data came from purposive sampling, where 14 semi-structured interviews with individuals with various managerial positions in post-merger integrations were conducted to gain an understanding of how they tackled the integration process. The secondary data used resulted from previous research, literature, articles and other internet sources. The interviews were qualitatively analyzed through a thematic coding procedure. The backbone of our theory consists of perspectives on mergers and acquisitions from the lens of social identity theory. Particularly, it was used to understand the post-merger organizational identification process. The theoretical components were used to understand group formations and intra- and intergroup relationships, the effects mergers have on individuals, and what the effects of the outcomes of post-merger identification have on group and organizational identity. Our findings disclose that organizational identities are exclusive by nature and that they remain in this state unless managerial actions are taken which triggers commitment from groups to change. These actions must combine communication efforts with managerial interventions which promote intergroup cooperation, prototypical norms and values. Depending on the actions and the goal of the merger, the nature of the post-merger identity is a combination of two identities which forms an overarching one, or an assimilation of one identity into another. The contributions from this study come in two forms: theoretical and managerial. The theoretical contributions come through our findings showing how organizational identity emerge, change and how they are formed. The managerial contributions provide recommendations on how practitioners should facilitate the process, the vital role the manager has in the process and approaches they could take based on our findings.
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Langer, Bruno. "Früherfassung der Unternehmenskultur als Risikofaktor bei Mergers & Acquisitions : eine methodisch-kritische Pre-Merger-Analyse /." Hamburg : Kovač, 1999. http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&doc_number=008693913&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA.
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Black, Emma Louise. "Behavioural finance & corporate investment : M&A success, pre-merger issuance and the media." Thesis, Durham University, 2013. http://etheses.dur.ac.uk/9404/.
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Classical economics proposed that individuals are rational beings that undertake essential due diligence when making a financial decision so as to reduce avoidable risk when investing. Despite the intuition behind such a conclusion, it has become widely recognised that investors are driven by animal spirits. These emotions can influence an investment decision and lead to a less than optimal outcome. This thesis includes three empirical chapters, which provide compelling evidence on the importance of behavioural finance in Mergers and Acquisitions. The results herein have practical relevance for academics, practitioners and regulators alike. The prevailing literature has focussed on corporate finance decisions under the assumption of universal rationality. Moreover most empirical research to-date has focussed on the US market, and yet the UK offers attractive characteristics worthy of future research. Firstly, most M&As (circa 80.2%) within the UK are financed using cash. Secondly, a large majority (circa 91%) of UK targets are unlisted companies. Finally, the UK remains the second-most active M&A market outside of the US. This chapter offers research in pursuit of understanding the UK market deeper, while simultaneously assessing the value of established findings in different settings. In this pursuit, the first empirical chapter of this thesis relaxes universal rationality, modelling inefficiency at a firm and market level. Temporary deviations away from fundamental values can lead managers to attempt to time capital markets both in the decision to merge and in the choice over the payment method to be used. Using an intuitive methodological approach, the empirical results in Chapter Three indicate that market-timing using overvalued equity is not supported in the UK with evidence contrasting established US findings. The results suggest that undervaluation however is a stronger motive for merger activity as shareholders benefit twofold from the revaluation of the firm as well as the addition of the target’s assets. An additional weakness of previous literature lies in the failure to interact various corporate decisions together. Chapter Four combines capital structure changes with the effects on an acquirer’s abnormal return. The choice between debt and equity can give the market an indication over the beliefs of the managerial team regarding the firm’s future cash flows. The decision to issue equity can signal overvaluation while issuing debt can exert an external monitoring mechanism on managerial teams leading to better corporate investments. Chapter Four supports the view of debt as a disciplinary mechanism with significantly lower losses experienced by acquirers that issue debt in the three years before announcing a M&A. The final empirical chapter of this thesis takes note of the power of mass media to influence an investor’s decision-making process. In an attempt to undertake in-depth due diligence, individuals can utilise prestigious mass media to help decide which firms to invest within, while the mass media can also reflect public opinion of the firm. Chapter Five indicates that acquirers that are covered in the media, and thus are placed in investor’s minds, earn significantly better returns long-term than those that are not in the media. The results indicate that it is the coverage rather than the attitude of the media that influences an acquirer’s stock price. This finding supports the view that any publicity is good publicity. Overall, this thesis provides valuable evidence that challenges the assumption of universal rationality. It is recommended that if we wish to understand financial markets better, then we must seek to understand the people that make decisions within them.
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Carneros, Louise, and Lovisa Wetterholm. "Livet efter sammanslagningen : En fallstudie om arbetssituationen efter bildandet av affärsområdet Stena Components." Thesis, Linköpings universitet, Företagsekonomi, 2018. http://urn.kb.se/resolve?urn=urn:nbn:se:liu:diva-149428.
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Problematisering: Ungefär 70 procent av sammanslagningar och uppköp som genomförs runt om i världen lyckas inte nå sina uppsatta mål. Tidigare forskning har uppvisat en rad olika anledningar till detta, där förändringsarbetet har påvisats vara avgörande för tiden efter att sammanslagningen har ägt rum. Denna period benämns med begreppet PMI (post-merger integration) och syftar till att integrera tillgångar, arbetsuppgifter och personal från de verksamheter som omfattas av sammanslagningen. Problematiken som uppstår under dessa perioder har till stor del visat sig bero på mänskliga faktorer snarare än finansiella aspekter som företagsledningar kan visa ett större intresse för. Det är därför väsentligt att uppmärksamma hur både ledning och medarbetare upplever arbetssituationen, för att skapa förståelse av vad som kan vara avgörande inom förändringsarbete för en sammanslagnings efterföljande period. Syfte: Syftet med studien är att skapa förståelse av hur ledning och medarbetare upplever arbetssituationen, med avseende på förändringsarbete, efter en sammanslagning av två tidigare skilda verksamhetsgrenar inom samma koncern. Forskningsfrågor: Hur skiljer sig ledningens upplevelser från medarbetarnas? Vilka parametrar inom förändringsarbete kan vara avgörande för hur arbetssituationen upplevs av ledning och medarbetare efter en intern sammanslagning? Kunskapsbidrag: Efter studerandet av hur arbetssituationen upplevs i perioden efter en sammanslagning, kan studien ge en indikation på vilka aspekter som organisationer bör fokusera på under integrationsfasen för att lyckas sammanföra de involverade parterna. Slutsats: Studien har påvisat att upplevelser av arbetssituationen efter en sammanslagning skiljer sig mellan ledning och medarbetare. Detta har främst visat sig i synen på vad som anses vara möjligheter kontra utmaningar för organisationen samt synen på ansvarsfördelning. Gemensamma upplevelser har påvisats gällande samarbete, behov av kontinuerligt förbättringsarbete och förståelse för att förändringar tar tid. De parametrar som har fastställts vara avgörande inom förändringsarbete för hur arbetssituationen upplevs efter denna typ av organisatorisk förändring kan sammanfattas i uppföljningsarbete, engagemang, kommunikationsförmåga, mottaglighet, förändringsbenägenhet samt samarbetsvillighet och delaktighet.<br>Problematisation: About 70 percent of all mergers and acquisitions do not reach their desired goals. Research has identified several reasons for this, and has shown that it is necessary to focus on the integration process after the merger. The time after the agreement has been closed between the two parties is referred to as post-merger integration (PMI), which includes the integration between assets, business activities and personnel. One reason why mergers fail in this context depends on human factors rather than financial aspects as the top management might focus on. Therefore, it can be crucial to observe how top managers and employees perceive their situation at work to create understanding of what factors within change management that can determine how the situation is perceived during the PMI-process. Purpose: The purpose of this study is to create understanding of how managers and employees perceive their situation at work during the post-merger integration process when two former differentiated business lines have been merged within the same group. Research questions: How do the perceptions differ between managers and employees? What factors within change management can determine how the situation at work is perceived by managers and employees after a merger? Contribution: To create understanding about change processes after a merger, this study can indicate what factors organisations should focus on in the post-merger integration process. Conclusion: This study shows that the perceptions of how the situation at work is perceived differs between managers and employees. The differentiated perceptions have principally been shown in the context of what can be considered as opportunities versus challenges and how responsibility is assigned within the organisation. Common perceptions have also been identified and these can be summarized in cooperation, ongoing improvement work and understanding of the fact that organisational changes take time. Regarding what factors within change management that can determine how the work situation is perceived, several have been revealed. These can be concluded in terms of follow-up, dedication, communication, susceptibility, willingness to change, cooperativeness and complicity.
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Partin, Jonatan, Matilda Andersson-Thunberg, and Tobias Fjellman. "How management creates and realizes synergy : Cross-border merger & acquisitions." Thesis, Jönköping University, Jönköping International Business School, 2008. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-9.
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<p>Abstract</p><p>Mergers and Acquisitions (M&A) have been around for a long time and has experienced waves of popularity during these times and they are very much an important part of today’s business world. M&As have also become increasingly international which can be due to the rising global competition. The popularity of cross-border M&As makes it important to look at M&As from an international perspective. One of the main reasons a company choose to M&A is growth (Lees, 2003) and there are several possible motives why a company chooses to grow through an M&A but the most common motive is to create synergy (DePhamphilis, 2005). Although synergy is one motive, according to the literature more M&As destroy value instead of creating it (Habeck, et al. 2000). This makes this subject interesting to study: especially the post-M&A phase since the integration process in this phase has been pointed out to be the riskiest, when creating synergy, but also the most crucial in order for a successful M&A (Habeck, et al. 2000; Shaver, 2006).</p><p>Purpose:</p><p>The purpose of this thesis is to analyze how the management of a company create and realize synergies in the post-M&A process of a cross-border M&A.</p><p>Method:</p><p>In order to fulfil the purpose the case study approach was chosen. The empirical data was gathered through semi-structured face-to–face (except two telephone) interviews. This approach was used because the information needed to fulfil the purpose was of the character to be found in a qualitative way by going in-depth into the field of interest with a management team with extensive knowledge in this subject.</p><p>Conclusion:</p><p>Creating and realizing synergies is a long process on average 5-10 years. There is no manual for the M&A process only a general approach and each M&A process is customized. It was found that one cannot separate the pre-deal phase from the post-phase. An M&A process includes three different important parts; the strategic intent phase, the due diligence phase, and finally the integration phase. Key success factors for conducting an M&A are that you set up a special management group which will focus on the creation and realisation of synergies and that one focus on motivating and assisting managers through offer new exiting challenges.</p>
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Ihlenfeld, Lucas Pioli Rehbein Kürten. "Power transformer passivity enforcement : pre- and post-processing approaches." reponame:Repositório Institucional da UFPR, 2015. http://hdl.handle.net/1884/41195.
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Orientador : Prof. Dr. Gustavo Henrique da Costa Oliveira<br>Dissertação (mestrado) - Universidade Federal do Paraná, Setor de Tecnologia, Programa de Pós-Graduação em Engenharia Elétrica. Defesa: Curitiba, 14/09/2015<br>Inclui referências : f. 86-94<br>Resumo: Esta dissertação trata, em bases matemáticas, do estudo das técnicas de aferição e imposição da passividade, uma propriedade qualitativa, geral e fundamental de transformadores. Para esse propósito, são propostas duas novas abordagens: uma de perturbação de dados no domínio da frequência, chamada pré-processamento, bem como um novo procedimento de perturbação de parâmetros no domínio do tempo, denominado pós-processamento. Inicialmente, métodos de aferição da passividade são empregados para distinguir sistemas passivos dos não-passivos bem como caracterizar as violações. Verificadas violações de passividade nos dados, usualmente devidas ao processo de medição, estes mesmos dados são perturbados, configurando o pré-processamento, de modo que todas as violações sejam suprimidas. Tal procedimento envolve encontrar matrizes de perturbação que, em cada frequência, atinjam esse objetivo causando, ao mesmo tempo, e em certo sentido, a menor perturbação possível. Os dados já passivos podem ser identificados e um modelo então obtido. Como dados passivos não garantem a obtenção de um modelo passivo, faz-se mister a imposição da passividade ao modelo obtido. Apesar de conduzir a resultados mais precisos, o pré-processamento de dados não é condição sine qua non para obtenção de modelos passivos. O procedimento de pós-processamento _e que, per se, assegura a passividade, permitindo que este seja empregado de forma independente daquele. Por meio de resultados obtidos com dados experimentais, demonstra-se, de forma individual e conjunta, a validade das técnicas ora propostas. Palavras-chave: Transformadores de Potência, Perturbação de dados, Perturbação de Parâmetros , Passivity-Enforcement, Modelagem, Análise de Transitórios.<br>Abstract: This dissertation addresses the problem concerning the mathematical assessment and enforcement of passivity, a qualitative, general and fundamental property of power transformers. For serving that purpose, two novel approaches are introduced: a pre-processing approach consisting of frequency-domain data perturbation as well as a post-processing one comprising a time-domain parameter perturbation. Initially, passivity assessment methods can be used to distinguish passive systems from non-passive ones and characterize passivity violations. As data can reveal passivity violations owing to the data acquisition process, it is pre-processed so that violations be suppressed. This procedure entails finding a data perturbation matrix that achieves such objective and causes a least possible perturbation, in some sense. Passive data can be identified and a model then extracted. Since passive data does not ensure the extraction of a passive model whatsoever, the employment of passivity enforcement is an indispensable resource for fully guaranteed model passivity. Despite leading to more accurate results, pre-processing is not a sine qua non for obtaining passive models. It is passivity enforcement that per se ensures model passivity, thus allowing post-processing to be used regardless of pre-processing. Underpinned by results achieved upon experimental data, the effectiveness of the methods herein proposed are individually and jointly confirmed. Key-words: Power Transformers, Data Perturbation, Model Parameter Perturbation, Passivity-Enforcement, Modelling, Transient Analysis.
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Sing, David Kent. "Post Common Envelope Pre-Cataclysmic and Cataclysmic Variable Binaries." Diss., Tucson, Arizona : University of Arizona, 2005. http://etd.library.arizona.edu/etd/GetFileServlet?file=file:///data1/pdf/etd/azu%5Fetd%5F1400%5F1%5Fm.pdf&type=application/pdf.
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Rolph, C. D. "Imaging polarimetry of pre- and post- main sequence objects." Thesis, Durham University, 1990. http://etheses.dur.ac.uk/6257/.
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In the first part of this thesis an automated polarimeter is described, and details are given of a dedicated CCD camera system based on a personal computer. The quality of the data produced by these instruments is demonstrated by the results presented in the succeeding chapters. Polarimetric observations of nebulae associated with two pre-MS objects, HH83/Rel7 and GL2591, and two post-MS objects, IRAS 07131-0147 and OH 231.8+4.2, are presented and discussed with reference to previous observations. In each case the location of the exciting source is determined and a simple model is described which explains the observed characteristics of the system. Both HH83/Rel7 and GL2591 are shown to be illuminated by nearby IRAS sources which have no optical counterparts. The nebula associated with HH83/Rel7 is caused by the reflection of radiation off the insides of the walls of a cavity excavated in the dark cloud by outflows from the IRS, and is crossed by a narrow unpolarised jet seen in emission-line radiation. The nebula associated with GL2591 is illuminated at optical wavelengths by both the IRS and a second, visible, source, and is composed of material ejected by the IRS in a discrete period of mass loss. IRAS 07131-0147 and OH 231.8+4.2 are shown to be stars which have evolved off the AGB and which will soon become the central stars of planetary nebulae. The protoplanetary nebulae which have formed as a result of the action of the fast stellar wind on the extended RGE around each star are bipolar and axially symmetric. The fast wind is shown to have ceased in the case of IRAS 07131-0147, but that related to OH 231.8+4.2 is still carrying material away from the star in a highly collimated fashion, producing narrow dusty filaments along the axes of the cavities. High levels of polarisation are measured in both nebulae, which indicates that the scattering particles are much smaller than those in the ISM.A brief comparison of the pre- and post-MS nebulae shows that the two phases of stellar evolution are linked by a number of observationally similar characteristics, and it is thought that similar processes may occur at opposite ends of the evolutionary track. Most notably, circumstellar discs appear to be common at various stages in the stellar life-cycle.
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Liu, Fang-Yen, and 劉芳燕. "Factors Affecting Pre-merger Decision and Post-merger Performance：A Case Study of K Company." Thesis, 2019. http://ndltd.ncl.edu.tw/handle/346wp9.
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碩士<br>國立中山大學<br>企業管理學系研究所<br>107<br>This case uses the case study method to explore the factors related to M&A decision-making and effectiveness of “K Company”, and observes the significance of various event phenomena after merger and acquisition by observation method, and then seeks the decision-making factors affecting M&A through in-depth interviews with scholars and experts. Factors related to expected performance of M&A.
Investigate the decision factors that should be considered before the merger and acquisition of the company as follows: (1)The integrity of the M&A strategy, considering that the case is a diversified operation, and requires 1-3 years of operation planning before the merger, especially the reorganization and distribution of resources; (2)The pre-information of mergers and acquisitions is symmetrical and true, this case is 90 years of traditional family business, need to understand; (3)Whether the business background and vision of business leaders are suitable for leading new enterprises; (4)integration after mergers and acquisitions, talent and organizational execution, compatibility of new and old corporate culture, etc. . The above four points and the analysis of the effectiveness analysis after mergers and acquisitions, the main high-level decision-makers internal integration management it repeats the dilemma of the diversified management of financial management or the dilemma of repeated resource allocation.