• The Journal of Society for e-Business Studies
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• v.19 no.1
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• pp.95-118
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• 2014

The information technologies industry is now experiencing a rebirth of strong stable growth. However, very few studies have examined performance implications of strategic alliance or merger and acquisition from a knowledge-based view. Furthermore, none of these studies have investigated resource complementarities and alliance or merger and acquisition motive as potential sources of firm performance. This paper extends upon current knowledge-based literature to discover and explore linkages between resource complementarities and firm performance of strategic alliances or merger acquisitions. This study finds that strategic alliance and merger and acquisition announcements have provided abnormal positive returns of production alliances and merger and acquisition. This study can be used as a stepping stone for selection of strategic alliance or merger and acquisition.

• Journal of Distribution Science
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• v.17 no.1
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• pp.47-56
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• 2019

Purpose - This case study illustrates the story of eBay Korea, which owns two most leading Korean open market companies, AUCTION and Gmarket. The main concerns are to take over the Korean top domestic companies one by one, then, emerge these two giants through its well-developed post-merger Integration by eBay, an American multinational corporation. Research design, data, and methodology - This case explores various secondary resources such as periodicals, annual reviews, magazine, news articles, commentaries, even some interview materials related to 'eBay Korea' and industry source on condition of anonymity based on the critical reviewing of existing studies on these topics as well. Results - The findings of this study show the merger and acquisition of two market leaders in Korea is the only successful case in Asian Markets. The eBay's choice of entry mode is appropriate considering the timing, synergy and efficiency by sharing their resources. Conclusions - This study examines the successful entry and settlement process of foreign, multinational company through mergers and acquisitions in the Korean market. This would be a valuable in the studies of International Business and Global entry or distribution strategy in the e-commerce and open market dealing with M&A and its post-merger integration.

• Knowledge Management Research
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• v.14 no.1
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• pp.95-119
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• 2013

Although merger and acquisition (M&A) has been considered as an important means to improve firm performance, most prior empirical research have failed to prove the relationship between M&A and firm performance. In order to fill this gap, this study attempts to identify the effect of M&A on firm performance based on knowledge resources relatedness and complementarity theory. For this purpose, this study examines complementarity patterns of knowledge resources and their impacts on acquirer's performance using M&A announcements of electronic commerce industry from 2001 to 2007. The results of this study indicate complementarity among knowledge resources are positively related with acquirer's market value. This study contributes to expand knowledge management research by identifying the relationship among knowledge resources and their impacts on firm performance.

• Journal of Distribution Science
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• v.18 no.6
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• pp.57-62
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• 2020

Purpose: The present study offers merger and acquisition (M&A) strategy based on prior studies to assist the organizational practitioners in two companies' cultures. In the analysis, a M&A plan to guide the evolving principles was created by present authors using change management model. Research design, data, and methodology: The successful M&A integration is setting goals, reconfiguring the cultural systems to align them with business goals. The employees must be involved, particularly with organizational change. Both companies also ought to undertake employee training following the resolving of worries and needs of employees. Finally, restructuring can include the moving of employees from areas where they may be struggling. Result: Discussing and trying to come to an agreement over which mode of acculturation would be most suitable in that particular state is the main focus. Practitioners of both Company A and Company B might find it much simpler to continue their focus and dynamism in the process of cultural integration. Conclusions: We believe that our approach adds an insight in the M&A literature. Managers at all levels of both organizations must take part in the process of M&A for both organizational cultures to come in sync and for change to take place.

• Management & Information Systems Review
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• v.6
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• pp.117-135
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• 2001

This study investigates whether the post-merger bad performance of merging firms was caused by the increase of cost and which cost is responsible for that, if it were. To do this, it is investigated whether there is any difference in terms of cost between pre-merger versus post-merger firms. Also the comparison of cost is used between merging firms and non-merging control groups. The finding is that the merging firms have a bigger cost than the non-merging control group and the post-merger firms have a bigger cost than the pre-merger firms. Especially labor cost to revenue and depreciation cost to revenue are statistically very different among them. Thus it is suggested that there are inefficiency of manpower and assets.

• The tire
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• s.131
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• pp.10-15
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• 1987

미국의 타이어 메이커들은 계속 기업매수(M&A:Merger and Acquisition)의 공격을 받아 사업을 재편성하여야 될 입장에 몰리고 있다. 어떠한 단계에서는 기업내에서의 사업재편성만으로는 문제해결에 이르지 못하고, 업계의 재편성으로 지향되지 않을까 예상되기도 한다. 또한 이러한 동향은 일본 타이어 메이커들의 미국 현지생산 계획에도 영향이 클 것으로 보인다. 따라서 본고에서는 미국 타이어 메이커의 현상을 집중적으로 살펴보고자 한다.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.5
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• pp.99-109
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• 2022

The main reason for the increase in cross-border mergers and acquisitions in developed and emerging countries is globalization and growing economic interdependence across countries. The state of the economy has a significant impact on whether cross-border mergers and acquisitions are encouraged or discouraged by international strategic capital market changes. This study empirically evaluates the influence of determinants of economic development on the scale effect of Cross Border M&As separately on emerging and developed nations as a research gap. We first separated the small and large scale firms based on companies' worth and used panel regression to analyze the impact of GDP, employment rate, and market capitalization on cross-border merger & acquisition deals over the period of 2008-2018. Results indicate that GDP and market capitalization have a positive effect on CBM&A, whereas employment rate has a negative effect on CBM&A deals in large-scale firms of both emerging and developed countries. This study results offer the implication for the potential investors and policymakers to strategically analyze the implementation of cross-border mergers & acquisitions.

• Management & Information Systems Review
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• v.33 no.2
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• pp.263-279
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• 2014

SPAC(Special Purpose Acquisition Company) is the paper company that aims the merger of private company only, and introduced in Korea at 2009. Until 2013, 22 SPACs were listed, and 10 of them made successful mergers but rest were delisted. When IPO, range of the volume of public offerings were 20~30 billion won. After IPO, some SPACs showed extreme price movements, but on average their prices were below IPO prices 1 year later and near IPO prices 2 years later. Successful SPACs showed positive and significant 2.94% 25 days Cumulative Average Abnormal Return(CAAR) before the public announcements of merger and also showed positive and significant 10.60% 45 days CAAR around the general meetings of shareholders. I concluded that SPAC market were constrained by several regulations, so deregulation is needed for SPAC market activation.

• Journal of Industrial Convergence
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• v.13 no.4
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• pp.11-28
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• 2015

A company have to grow constantly. If a company does not grow and stagnant, it will be finally out of the market. The contemporary companies fully make use of M&A to search for new growth engines. The reason of companies using M&A as a important tool of a business strategy is the fastest way to achieve technology power, market power, competitiveness. The form of M&A was that leading companies take over smaller companies or merger and acquisition between small companies in the middle of 2000. But now, Mega mergers between industry leading companies often occur and especially domestic of course M&A of foreign companies occurs actively. These days the boom of stock market and the big companies are pouring on sale by restructuring, privatization and the basis of low interest will make the M&A market continuously. In this study, I suggest a solution of actual human resources management by analyzing proven M&A cases and search for various problems of a gap in the leadership and communication in connection with integration of organization culture after M&A. First of all, I arrange the theoretical concept of the subject and analyze the key factors of the success M&A cases, lastly I suggested a HR strategy after M&A. After M&A, HR strategy is ; First, a company have to build a organization culture which is that merger company accommodate a excellent organizational characteristic of predecessor company with consideration of culture difference. Second, M&A must proceed to remove of anxiety about the future and employment stability by excellent leaderships. Third, organization integration after M&A is influenced by the level of integration for that reason it was verified that M&A have to make progress by communication of each 2 organizations.

• Information Systems Review
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• v.3 no.2
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• pp.387-398
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• 2001

Effectively integrating information systems in mergers and acquisitions of large organizations can be critical to merger success. But the general literature on M&A focuses on the financial aspects of the acquisition process, rather than on the subsequent process of integration. This paper analyses the case of information systems integration in a merger of two Korean manufacturing organizations, and explores the factors influencing IS integration in M&A in Korea. To analysis this case and find factors affecting IS integration success, we use MIT'90s schema (framework) by Scott Morton that consists of 5 dimensions (strategy, processes, structure, individuals/roles, and technology). From the results of this case study, we found 13 factors and 14 propositions influencing IS integrations performance in M&A in Korean companies. This research helps the company to avoid mistakes and to manage IS integration in M&A. Also this study provides guide line for further researches.