Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments March 9, 2011 erstellt
Beschreibung:
We study the effect of corporate culture on the outcomes of large merger and acquisition (M&A) deals. Using a measure of cultural orientation developed in Organization Behavior, we quantify corporate culture by assessing corporate documents using a text analysis approach. We use this quantification to examine the impact of culture on merger performance, controlling for a large number of acquirer-specific and target-specific attributes. We find that culture significantly affects merger outcomes