The New Face of Global M&A : Intercultural Issues in Banking Industry

• Autorzy: Iulian Warter , Liviu Warter
• Języki publikacji: EN

Abstrakty

EN

In today's multi-polar world, the complexity of mergers and acquisitions (M&As) in the banking sector has increased dramatically. The likelihood of cultural clashes, which may cause a planned merger to fail, is higher for M&As in the banking industry operating in different countries. Bank of America's acquisition of Merrill Lynch stands out as a testament to a critical issue in many failed mergers: the company cultures of the two financial institutions simply aren't compatible. Our paper aims to focus on the intercultural issues, which have been investigated by only limited number of studies in the banking industry. The understanding of intercultural issues in the pre-merger stage will make future M&As in the banking industry less problematic. It is of vital importance for the banks to learn from their mistakes, which include not avoiding intercultural conflicts, underestimating management, employees and cultural issues and hence the integration process in the post-merger stage will be more efficient and smooth. (original abstract)

Słowa kluczowe

EN

Mergers and acquisitions; Banking sector; Cultural differences

PL

Fuzje i przejęcia; Sektor bankowy; Różnice kulturowe

• Czasopismo: Forum Scientiae Oeconomia
• Rocznik: 2015
• Tom: 3
• Numer: nr 1 Culture Management and Inter-cultural Aspects in Management
• Strony: 127--138

Twórcy

autor

Iulian Warter

• Alexandru Ioan Cuza University of Iași, România

autor

Liviu Warter

• Alexandru Ioan Cuza University of Iași, România

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