Learning from the Past: How Prior Merger Experiences Shape Cultural Integration in Subsequent M&As
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2026-02-02
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en
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Abstract
This study investigates how prior merger and acquisition (M&A) experiences shape cultural
integration in subsequent transactions. While cultural misalignment is a primary cause of
M&A failure, existing literature often overlooks how firms learn from these challenges across
sequential events. Utilising a qualitative single-case study of a Dutch personal injury law
firm, this thesis explores two sequential events: an initial turbulent merger in 2016 (M&A 1)
and a management buy-out combined with an acquisition in 2025 (M&A 2).
The study employs the Dynamic Capabilities Framework (Sensing, Seizing, Transforming) to
analyse the organisational learning process. Findings reveal that the firm developed a Cultural
Integration Dynamic Capability by engaging in double-loop learning, critically reflecting on
past failures. Key results show that the organisation shifted from a rigid, coercive assimilation
approach to a proactive strategy focused on operational autonomy (carving out HR and IT),
employee-centric communication, and strategic non-harmonisation of employment terms. The
research concludes that hard-won tacit knowledge from past failures can be transformed into
institutionalised routines.
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Faculteit der Managementwetenschappen