BazEkon - The Main Library of the Cracow University of Economics

BazEkon home page

Main menu

Author
Stankiewicz-Mróz Anna (Lodz University of Technology)
Title
The Impact of Integration Activities in the Area of HRM on the Assessment of the Effectiveness of Company Acquisitions
Source
Zeszyty Naukowe. Organizacja i Zarządzanie / Politechnika Śląska, 2022, z. 163, s. 549-562, bibliogr. 31 poz.
Keyword
Zarządzanie zasobami ludzkimi, Fuzje i przejęcia, Funkcja personalna
Human Resources Management (HRM), Mergers and acquisitions, Personal function
Note
summ.
Abstract
Purpose: The main purpose of the research presented in this article was to identify the course of integration in the area of personnel function following business acquisition transactions and the determinant of the integration process. It was also important to examine the impact of the integration of the personnel function on the assessment of the effectiveness of the acquisition transaction. Design/methodology/approach: The purpose of this paper was achieved by conducting a review of the literature available on the subject, which served as a basis for the design of methodological assumptions and further research. The research covered 52 enterprise acquisition transactions carried out on the Warsaw Stock Exchange and the private market. The adopted research concept assumes that the research will be conducted approximately three years after the transaction. Such a time perspective is necessary in order to assess the effects of integration activities. The research used the interview method, and the research technique consisted of a personal F2F questionnaire interview and a traditional telephone interview. The respondents in the survey were directors of HR departments/managers of HR departments of the acquiring companies. Findings: The conducted research leads to the conclusion that the integration of the personnel function is usually not treated in terms of integration priorities. More often than in every fourth case studied, integration activities in the area in question were not carried out at all, and the companies involved in the transaction pursued different personnel policies. In companies that have integrated in this area, a very important factor influencing the course of integration was the level of maturity of the acquiring company's personnel function at the time of the transaction. The scope of integration activities in the area of the personnel function is broad if the acquiring company implements the HR process at a strategic level. The research also showed that integration in the area of the personnel function is not a key factor influencing the high assessment of acquisition effectiveness and that the relationship between the course of integration in the area of the personnel function and the assessment of acquisition effectiveness is moderate. Research limitations/implications: Future research directions should focus on further extended research exploration in this area, taking into account various industries. It would also be worthwhile to undertake research on the importance of integration in the area of HRM in the context of the implementation of a business model determined by the sharing economy and developing innovation. Practical implications: The research findings discussed in the paper have a number of practical implications, mainly for the development of integration strategies by companies considering exogenous development through mergers and acquisitions. They can be used to prepare HR integration strategies already in the initial stages of acquisition processes. Social implications: Building awareness of the importance of integration management for the success of the acquisition transaction and the importance of properly defined integration priorities in the HR area for achieving the adopted acquisition goals. Originality/value: The article has cognitive value for the development of science and business practice in the field of integration after business acquisitions in the areas of personnel strategies and practices.(original abstract)
Full text
Show
Bibliography
Show
  1. Acharya, V., Amihud, Y., Litov, L. (2011). Creditor rights and corporate risk-taking. Journal of Financial Economics, vol. 102, iss. 1, pp.150-166.
  2. Andriuškevičius, K., Štreimikienė, D. (2021). Developments and trends of mergers and acquisitions in the energy industry. Energies, 14(8), p. 2158.
  3. Aniszewska, G. (2004). Strategie integracji firm w fuzjach i przejęciach. Opracowania i Monografie SGH. Warszawa, p. 111.
  4. Brocal, F., Paltrinieri, N., González-Gaya, C., Sebastián, M.A., Reniers, G. (2021). Approach to the selection of strategies for emerging risk management considering uncertainty as the main decision variable in occupational contexts. Safety Science, no. 134, pp. 105-141.
  5. Caldwell, R., Storey, J. (2007). The HR function:Integration or fragmentation? In: J. Storey (ed.), Human resource management: A critical text (pp. 21-38). London: Thomson Learning.
  6. Duan, Y., Ye, Y., Liu, Z. (2019). Risk assessment for enterprise merger and acquisition via multiple classifier 575 fusion. Discrete & Continuous Dynamical Systems, vol. 12(4-5), pp. 747-759.
  7. Eckbo, B.E. (2009). Bidding strategies and takeover premiums: a review. Journal of Corporate Finance, no. 15(1), pp. 149-178.
  8. Gomes, D., Angwin, Y., Weber, S., Tarba, Y. (2013). Critical Success Factors Through the Mergers and Acquisitions Process: Revealing Pre- and Post-M&A Connections for Improved Performance. Thunderbird International Business Review, no. 76(5).
  9. Gonchar, V., Kalinin, O., Khadzhynova, O., McCarthy, K.J. (2022). False friends? On the effect of bureaucracy, informality, corruption and conflict in Ukraine on foreign and domestic acquisitions. Journal of Risk and Financial Management, no. 15(4), p.179.
  10. Graebner, M.E., Heimeriks, K.H., Quy Nguyen, H.U., Vaara, E. (2016). The process of postmerger integration: A review and agenda for future research. Academy of Management Annals, vol. 11(1).
  11. Jog, V., Muszyński, C. (2000). Zarządzanie finansami przedsiębiorstwa. Warszawa: Centrum Informacji Menedżera.
  12. Kooli, C., Lock Son, M. (2021). Impact of COVID-19 on mergers, acquisitions and corporate restructurings. Businesses, no. 1(2), pp. 102-114.
  13. Krishnan, C.N.V., Yakimenko, V. (2022). Market misreaction? Leverage and mergers and acquisitions. Journal of Risk and Financial Management, 15(3), p. 144.
  14. Lee, H-S., Degtereva, E.A., Zobov, A.M. (2021). The Impact of the COVID-19 pandemic on cross-border mergers and acquisitions' determinants: New empirical evidence from Quasi-Poisson and negative binomial regression models. Economies, 9(4), p. 184.
  15. Leleonkiewicz, A. ( 2001). Fuzje i przejęcia na przykładzie rynku wezwań publicznych w Polsce. Studia i Prace Kolegium Zarządzania i Finansów SGH, nr 107.
  16. Lipka, A. (2008). Efektywność strategicznego zarządzania zasobami ludzkimi. Zarządzanie Zasobami Ludzkimi, nr 3-4.
  17. Lovallo, D., Viguerie, P., Uhlaner, R., Horn, J. (2008). Fuzje i przejęcia: jak uniknąć złudzeń? Harward Business Review, no. 64, pp. 32-36.
  18. M&A Index Poland. Fuzje i przejęcia w 2021 roku. Navigator Capitol Group, https://navigatorcapital.pl/fuzje-i-przejecia-w-2021-roku-4q2021, 21.08.2022.
  19. Martynova, M., Renneboog, L. (2008). A century of corporate takeovers: what have we learned and where do we stand? Journal of Banking & Finance, 32(10), pp. 2148-2177.
  20. Pérez-Pérez, C., Benito-Osorio, D., García Moreno, S.M. (2021). Mergers and acquisitions within the sharing economy: Placing all the players on the board. Sustainability, 13(2), p. 743.
  21. Pocztowski A. (ed) (2004). Zarządzanie zasobami ludzkimi w procesach fuzji i przejęć. Kraków: Oficyna Ekonomiczna.
  22. Report Mergers and Acquisitions (2008). haygroup.com/ww/issues/inex.asp?id=602, 1.09.2022.
  23. Romanowska, M. (ed.) (2011). Grupy kapitałowe w Polsce. Warszawa: PWE, p. 147.
  24. Sirower, M. (1997). The Synergy Trap: How Companies Lose the Acquisition Game. New York: The Free Press.
  25. Slagmulder, R., Devoldere, B. (2018). Transforming under deep uncertainty: A strategic perspective on risk management. Business Horizons, no. 61(5), pp. 733-743.
  26. Stankiewicz-Mróz, A. (2021). Proces integracji po transakcjach przejęć przedsiębiorstw. Aspekty organizacyjne i kadrowe. Monografia. Łódź: Politechnika Łódzka, p. 70.
  27. Steczkowski, J. (2015). Metoda reprezentacyjna w badaniach zjawisk ekonomiczno-społecznych. Warszawa-Kraków: PWN.
  28. Träm, M. (2000). Post-Merger - Integration. Sieben Regeln für erfolgreiche Fusionen - ein Ansatz von T. Kearney. In: D. Fink, Management Consulting-Fieldbook-Verlag Vahlen, München.
  29. Ulrich, D., Brockbank, W. (2008). Tworzenie wartości przez dział HR. Kraków: Oficyna a Wolters Kluwer business.
  30. Wang, J. (2008). Motives and Effects of Mergers and Acquisitions. The University of Nottingam.
  31. Zhang, J., Faisal, A.M., Tarba, S., Cooper, C.L., Glaister, K.W., Wang, J. (2015). The effect of leadership style on talent retention during Mergers and Acquisitions integration: evidence from China. The International Journal of Human Resources Management, vol. 26.
Cited by
Show
ISSN
1641-3466
Language
eng
URI / DOI
http://dx.doi.org/10.29119/1641-3466.2022.163.34
Share on Facebook Share on Twitter Share on Google+ Share on Pinterest Share on LinkedIn Wyślij znajomemu