IMPACT OF TAKEOVER PROCESSES ON EMPLOYEES – EVIDENCE FROM FOOD, RETAIL AND FINANCIAL SECTOR
DOI:
https://doi.org/10.5937/ekoPolj1704393AKeywords:
food industry, retail industry, fnancial institution, takeover, employeesAbstract
Takeover processes imply integration of different organizational cultures, especially in case of crossborder takeovers. Using a survey questionnaire, authors conducted a research to examine the changes and satisfaction with all interest groups in taken over companies operating in felds of food industry, retail sector and fnancial activity in the Serbian market. Method applied to process the data is discriminant analysis, and research results are presented tabular form as well as graphically in form of ellipses. The aim of the study is to examine the differences of impact of takeover processes on various interest groups of production company, retail chain and fnancial institution and assessment of their satisfaction. Studys contribution is an informative support for managers of both company acquirer and target company in future acquisition processes, because analysis of differences, change and satisfaction of employees provides a concrete answer regarding elements influencing success of takeover process in terms of management of human.
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References
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29. Rottig, D., Reus, T. H., Tarba, S. Y. (2014): The impact of culture on mergers and acquisitions: A third of a century of research. In Advances in mergers and acquisitions, pp. 135-172, Emerald Group Publishing Limited, United Kingdom.
30. Shook, L., Roth, G. (2011). Downsizings, mergers, and acquisitions: Perspectives of human resource development practitioners. Journal of European Industrial Training, Emerald Group Publishing Limited, vol. 35, no. 2, pp.135-153, United Kingdom.
31. Siegel, D. S., Simons, K. L. (2008): Evaluating the effects of mergers and acquisitions on employees: Evidence from matched employer-employee data. 2nd Draft, (0804).
32. Somlev, I. P., Hoshino, Y. (2005): Influence of location factors on establishment and ownership of foreign investments: The case of the Japanese manufacturing frms in Europe. International Business Review, Pergamon, vol. 14, no. 5, pp. 577-598, United Kingdom.
33. Wanberg, C. R., Banas, J. T. (2000): Predictors and outcomes of openness to changes in a reorganizing workplace. Journal of Applied Psychology, American Psychological Association, vol. 85, pp. 132–42, United States.
34. Yin, X., Shanley, M. (2008): Industry determinants of the "merger versus" alliance" decision. Academy of Management Review, Academy of Management vol. 33, no. 2, pp. 473-491, United States.
35. Zollo, M., Reuer, J. J., Singh, H. (2002): Interorganizational Routines and Performance in Strategic Alliances. Organization Science, Informs, vol. 13, no. 6, pp. 701-713, United States.
2. Ashkenas, R., Francis, S. (2000): Integration Managers: Special Leaders form Special Times, Harvard Business Review, United States.
3. Birkinshaw, J., Bresman, H., Hakanson, L. (2000): Managing the post-acquisition integration process how the human intergration and task intergration processes interact to foster value creation. Journal of Management Studies, Blackwell Publishing Ltd, vol. 37, no. 3, pp. 395-425, United Kingdom.
4. Brouthers, K., D. (2002): Institutional, Cultural and Transaction Cost Influences on Entry Mode Choice and Performance. Journal of international Business studies, Palgrave Macmillan UK, vol. 33, no. 2, pp. 203-221, United Kingdom.
5. Chakrabarti, R., Mukherjee, S. G., Jayaraman, N. (2009): Mars-Venus marriages:Culture and cross-border M&A. Journal of International Business Studies, Palgrave Macmillan UK, vol. 40, no. 2, pp. 216–236, United Kingdom.
6. Chen, S.-F. S., Hennart, J.-F. (2004): A hostage theory of joint ventures: why do Japanese investors choose partial over full acquisitions to enter the United States? Journal of Business Research, Elsevier Inc, vol. 57, no. 10, pp. 1126-1134, United States.
7. Collins, J. D., Holcomb, T. R., Certo, T. S., Hitt, M. A., Lester, H. R. (2009): Learning by doing: Cross-border mergers and acquisitions. Journal of Business Research, Elsevier Inc, vol. 62, no. 12, pp. 1329-1334, United States.
8. Contractor, F. J., Lahiri, S., Elango, B., Kundu, S. K. (2014): Institutional, cultural and industry related determinants of ownership choices in emerging market FDI acquisitions. International Business Review, Pergamon, vol. 23, no. 5, pp. 931-941, United Kingdom.
9. Chamber of commerce and industry of Serbia (2017): http://www.pks.rs/SADRZAJ/Files/CMIP/Brosura%20PKS%20sr.pdf, taken 10.04.2017.
10. Chamber of commerce and industry of Serbia (2017): http://www.pks.rs/PrivredaSrbije.aspx?id=17&p=2&, taken10.04.2017.
11. Demirbag, M., Glaister, K. W., Tatoglu, E. (2007): Institutional and transaction cost influences on MNEs ownership strategies of their affliates: Evidence from an emerging market. Journal of World Business, Pergamon, vol. 42, no. 4, pp. 418-434, United Kingdom.
12. Denison, D.R., Adkins, B., Guidroz, A. (2011): Managing cultural integration in cross-border mergers and acquisitions. Advances in Global Leadership, Emerald Publishing Limited, vol. 6, pp. 69-115, United Kingdom.
13. Đurić, D., Ristić, J., Đurić, D. (2016): Foreign durect investments in the role of strengthening the export competitiveness of the Serbian economy, Economics of Agriculture, Naučno društvo agrarnih ekonomista Balkana, vol. 2, pp. 531-54, Belgrade, Serbia.
14. Estrin, S., Baghdasaryan, D., Meyer, K. E. (2009): The Impact of Institutional and Human Resource Distance on International Entry Strategies. Journal of Management Studies, Blackwell Publishing Ltd, vol. 46, no. 7, pp. 1171-1196, United Kingdom.
15. Fubini D., Price, C., Zollo, M. (2007): Mergers: leadership, perfomance & corporate health, Palgrave MacMillan, United Kingdom.
16. Hofstede, G. (1991): Cultures and Organizations. London: McGraw-Hill, and www.geert-hofstede.com, United Kingdom
17. Holt, D.T., Armenakis, A.A., Harris, S.G., Field, H.S. (2007): Toward a comprehensive defnition of readiness form change: A review of research and instrumentation. Research in Organizational Change and Development, Emerald Publishing Limited, vol. 16, pp. 289-336, United Kingdom.
18. Jakšić, D., Mijić, K., Zekić, S., Poljašević, J. (2015): Comparative profitability analysis of milk production companies to milk processing companies. Custos e @ gronegócio, Recife, PE : Universidade Federal Rural de Pernambuco, vol. 11, no. 3, pp. 206-226, Brazil.
19. Jansen, K. J. (2000): The emerging dynamics of change: Resistance, readiness, and momentum. Human Resource Planning, Human Resource Planning Society vol. 23, no. 2, pp. 53–55, United States.
20. Jones, R.A., Jimmieson N.L., Griffths A.(2005): The Impact of Organizational Culture and Reshaping Capabilities on Change Implementation Success: The Mediating Role of Readiness for Change. Journal of Management Studies, Blackwell Publishing Ltd, vol. 42, no. 2, pp. 361-386, United Kingdom.
21. Kaufman, J. B., ONeill, H. M. (2007): Do culturally distant partners choose different types of joint ventures? Journal of World Business, Pergamon, vol. 42, no. 4, pp. 435-448, United Kingdom.
22. Lin, B. W., Hung, S. C., Li, P. C. (2006): Mergers and acquisitions as a human resource strategy: Evidence from US banking frms. International Journal of Manpower, Emerald Group Publishing Limited, vol. 27, no. 2, pp. 126-142, United Kingdom.
23. Lima, A.C., Silveira, J.A.G., Silva, S.H.F., Ching, H.Y. (2016): Target costing: exploring the concept and its relation to competitiveness in agribusiness, Custos e @gronegócio, Recife, PE : Universidade Federal Rural de Pernambuco, vol. 12, no. 3, pp. 11-25, Brazil.
24. Lodorfos, G., Boateng, A. (2006): The role of culture in the merger and acquisition process: Evidence from the European chemical industry. Management Decision, Emerald Group Publishing Limited, vol. 44, no. 10, pp. 1405-1421, United Kingdom.
25. Milojević, I., Zekić, M. (2015): Organizaciona struktura preduzeća kao predpostavka konsolidacije bilansa, Oditor, No. 12, pp. 22-28.
26. Mylonakis, J. (2006): The impact of banks mergers & acquisitions on their staff employment & effectiveness. International Research Journal of Finance and Economics, vol. 3, pp. 121-137, Seychelles.
27. Peng, M. W. (2003): Institutional transitions and strategic choices. Academy of Management Review, Academy of Management, vol. 28, pp. 275-296, United States.
28. Pothukuchi, V., Damanpour, F., Choi, J. (2002): National and Organizational Culture Dijferences and International Joint Venture Performance. Journal of international business studies, Palgrave Macmillan UK, vol. 33, no. 2, pp. 243-265, United Kingdom.
29. Rottig, D., Reus, T. H., Tarba, S. Y. (2014): The impact of culture on mergers and acquisitions: A third of a century of research. In Advances in mergers and acquisitions, pp. 135-172, Emerald Group Publishing Limited, United Kingdom.
30. Shook, L., Roth, G. (2011). Downsizings, mergers, and acquisitions: Perspectives of human resource development practitioners. Journal of European Industrial Training, Emerald Group Publishing Limited, vol. 35, no. 2, pp.135-153, United Kingdom.
31. Siegel, D. S., Simons, K. L. (2008): Evaluating the effects of mergers and acquisitions on employees: Evidence from matched employer-employee data. 2nd Draft, (0804).
32. Somlev, I. P., Hoshino, Y. (2005): Influence of location factors on establishment and ownership of foreign investments: The case of the Japanese manufacturing frms in Europe. International Business Review, Pergamon, vol. 14, no. 5, pp. 577-598, United Kingdom.
33. Wanberg, C. R., Banas, J. T. (2000): Predictors and outcomes of openness to changes in a reorganizing workplace. Journal of Applied Psychology, American Psychological Association, vol. 85, pp. 132–42, United States.
34. Yin, X., Shanley, M. (2008): Industry determinants of the "merger versus" alliance" decision. Academy of Management Review, Academy of Management vol. 33, no. 2, pp. 473-491, United States.
35. Zollo, M., Reuer, J. J., Singh, H. (2002): Interorganizational Routines and Performance in Strategic Alliances. Organization Science, Informs, vol. 13, no. 6, pp. 701-713, United States.
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Published
2017-12-20
How to Cite
Andrašić, J., Mirović, V., Milenković, N., Kalaš, B., & Pjanić, M. (2017). IMPACT OF TAKEOVER PROCESSES ON EMPLOYEES – EVIDENCE FROM FOOD, RETAIL AND FINANCIAL SECTOR. Economics of Agriculture, 64(4), 1393–1412. https://doi.org/10.5937/ekoPolj1704393A
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Original scientific papers
