A moderated-mediation model of cultural distance in values and norms, M&A type, and M&A performance.
| dc.contributor.advisor | Nadolska, A. | |
| dc.contributor.author | Dekker, Koen | |
| dc.date.issued | 2024-06-27 | |
| dc.description.abstract | The impact of culture has been a topic of interest in mergers & acquisition (M&A) research. Cultural distance has been found to have effects on various business decisions in the process of moving a firm abroad. This dissertation broadens the topic by analysing the remarkably under-researched decision of M&A type, i.e. the extent to which the M&A’s operations relate to the parent company’s, and how this influences the relationship of culture on the M&A performance. Transaction cost theory is used to argue for a negative effect of cultural differences on M&A survival that are mitigated by the choice of a more related M&A type. Moreover, the field is further broadened by analysing the moderation effects of the relatively recently popularised normative framework of culture. By including tightness-looseness in social norms, the relevance of including both differences in values and norms in cultural difference research is investigated. These effects are analysed in a moderated mediation model by using a panel data set consisting of Dutch M&A ventures spanning fifty years. Moderation and mediation effects are analysed using standardised linear regressions and logistic regressions. The findings reveal that while cultural distance does lead to firms choosing a more related variably type, there is mixed support on M&A type meaningfully mediating the relationship between cultural distance and M&A performance. Furthermore, though adding both cultural variables in the model lead to a negative interaction effect, both were significant with larger effect sizes than the interaction effect, showing that they play distinct roles in M&A research. | |
| dc.identifier.uri | https://theses.ubn.ru.nl/handle/123456789/17735 | |
| dc.language.iso | en | |
| dc.thesis.faculty | Faculteit der Managementwetenschappen | |
| dc.thesis.specialisation | specialisations::Faculteit der Managementwetenschappen::Master Business Administration::International Business | |
| dc.thesis.studyprogramme | studyprogrammes::Faculteit der Managementwetenschappen::Master Business Administration | |
| dc.thesis.type | Master | |
| dc.title | A moderated-mediation model of cultural distance in values and norms, M&A type, and M&A performance. |
Files
Original bundle
1 - 1 of 1
Loading...
- Name:
- Dissertation Koen Dekker 15-06-2024.pdf
- Size:
- 507.2 KB
- Format:
- Adobe Portable Document Format