The Views of Japanese Employees on Cross-Border M&As (eBook)

Kai Oliver Thiele received his PhD from the Hamburg University of Technology in Germany. He holds an MBA degree from the University of Kansas as well as a Master’s degree in Business Mathematics from the University of Hamburg. He received a DAAD scholarship as well as a scholarship from the German Institute for Japanese Studies to conduct his research in Japan.

Acknowledgements 6
Table of Contents 7
List of Figures 10
List of Tables 12
List of Abbreviations 13
1 Introduction 15
1.1. Research problem 15
1.2. Goal of this work 23
1.3. Structure of dissertation 25
2 Foundations of mergers and acquisitions 28
2.1. Classification 28
2.1.1 Definitions 28
2.1.2 Stages 34
2.1.3 Typology 38
2.2. Emergence 42
2.2.1 Management motives 42
2.2.2 Entry mode choice 44
2.2.3 Merger waves 47
2.3. Value creation 50
2.3.1 Profitability measurement and antecedents of performance 50
2.3.2 Performance drivers of domestic versus cross-border M& As
2.3.3 Shareholder value creation and the integration process 57
2.4. Summary 60
3 Mergers and acquisitions in Japan 61
3.1. Japanese economy 61
3.1.1 Economic and market overview 61
3.1.2 Foreign direct investments 66
3.1.3 Recent economic conditions and outlook 70
3.2. M& A occurrence
3.2.1 Development of the Japanese M& A market
3.2.2 Legal environment for M& As in Japan
3.2.3 Japanese inbound M& As
3.3. Summary 81
4 National culture and organizational culture in Japan 84
4.1. Culture in cross-border M& As
4.2. Japan’s national culture 89
4.2.1 Toward a definition of culture 89
4.2.2 Theories and empirical research on national culture 94
4.2.3 Selected research on Japanese national culture 98
4.3. Japan's organizational culture 109
4.3.1 Toward a definition of organizational culture 109
4.3.2 How national culture influences organizational culture 111
4.3.3 Selected research on Japanese organizational culture 114
4.4. Summary 122
5 Employee reactions to M& As and theoretical model development for Japanese cross-border M&
5.1. Overview of M& A research disciplines and selection of theoretical lens
5.1.1 Theoretical perspectives 126
5.1.2 Selection of theoretical perspective 132
5.2. The importance of the employees’ view in M& As
5.3. Critical employee attitudes and behavioral intentions in M& As
5.3.1 Commitment to change 139
5.3.2 Intention to stay 141
5.3.3 Job satisfaction 141
5.3.4 Perception of success 143
5.4. Factors that affect employee resistance after organizational change 145
5.4.1 Overview of extant research 145
5.4.2 Organizational identification 152
5.4.3 Organizational justice 155
5.5. Theoretical model deduction and hypotheses development for the Japanese context 158
5.6. Summary 164
6 Empirical study 166
6.1. Research design 166
6.1.1 Choice of analysis method 166
6.1.2 Foundations of PLS-SEM 167
6.1.3 Path model construction 177
6.1.4 Sampling method 182
6.2. Sample and data structure 183
6.3. Results of the PLS-SEM analysis 186
6.3.1 Main results 186
6.3.2 Mediator analysis 193
6.3.3 Moderator analysis 195
6.3.4 IPMA analysis 196
7 Discussion, contributions, and limitations 201
7.1. Discussion and implications of the study results 201
7.2. Contribution of this work to the research field and practical implications 205
7.3. Limitations and outlook 208
References 211
Appendix 244