Empirical Study of Post-Merger Integration Process

2018 Fiscal Year Final Research Report

• 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
• Keywords: M&A / PMI / 企業多角化 / テキスト分析 / ダイナミクス

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.

Free Research Field

経営戦略論

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．