Control Mechanisms in Cross-border Acquisitions: An International Comparison
研究了国家文化对跨国并购整合中控制机制的影响，基于75个欧洲案例发现，法国、英国和美国企业在正式与非正式控制上存在差异，这些差异与收购后绩效相关。
This paper analyzes the influence of national culture on the integration mechan isms exercised in international acquisitions. The study of 75 international acquisi tions in Europe (France and the United Kingdom) shows that firms are influenced by their national administrative heritage when they acquire companies abroad. For instance, the French exercise higher formal control of the strategy and the operations, and lower informal control through teamwork than the Americans when they buy firms in the United Kingdom. The Americans exercise higher formal control through procedures than the British when they buy firms in France. As some of these aspects of control were found to be linked with the attitudinal and/or economic performance of the acquired company, we argue that being conscious of the influence of a national administrative heritage should help anticipate cultural problems in the integration process following international acquisitions.