Empirical Study of Post-Merger Integration Process

Research Project

Project/Area Number	17H06687
Research Category	Grant-in-Aid for Research Activity Start-up
Allocation Type	Single-year Grants
Research Field	Management
Research Institution	Ibaraki University
Principal Investigator	Kato Takanori 茨城大学, 人文社会科学部, 講師 (70801992)
Project Period (FY)	2017-08-25 – 2019-03-31
Project Status	Completed (Fiscal Year 2018)
Budget Amount *help	¥1,950,000 (Direct Cost: ¥1,500,000、Indirect Cost: ¥450,000) Fiscal Year 2018: ¥520,000 (Direct Cost: ¥400,000、Indirect Cost: ¥120,000) Fiscal Year 2017: ¥1,430,000 (Direct Cost: ¥1,100,000、Indirect Cost: ¥330,000)
Keywords	M&A / PMI / 企業多角化 / テキスト分析 / ダイナミクス / 経営学 / M&A後の統合プロセス / 組織学習 / シナジー効果
Outline of Final Research Achievements	This study aims to understand the Post-Merger Integration (PMI). In particular, we focus on the process of Post-Merger Integration (PMI) by investigating the Air Water inc. which has been established by two mergers． This study suggests that (1)unintended strategies are emerged and formulated in the process of PMI, and (2)such strategic formulation are affected by other M&A and/or strategic alliances.
Academic Significance and Societal Importance of the Research Achievements	これまでのM&A(買収・合併)研究では，買収・合併する2つの企業が「適合(fit)」しているかどうかに焦点が置かれてきた．本研究では，必ずしも事前に「適合(fit)」している必要はなく，事後的に「適合(fit)」させていくプロセスを示唆している点に学術的な意義がある．こうした事後的な「適合(fit)」のメカニズムを解明していくことは，わが国においてM＆A件数は増加傾向にあることに鑑みて社会的重要性もあると考えられる．