성공적 M&A를 위한 Cultural Due Diligence

Abstract

Under the pressure of intensified competition, many firms seek M&A as a

method to maintain or obtain competitive advantage. However, despite the

initial optimism, more than half of the mergers and acquisitions fail to

achieve their financial and strategic objectives. Foregoing research has

shown that the failure of M&A comes not from the misconduct in legal.

financial or tax due diligence but from such issues of' human relation and

culture clash. Thus. this paper focuses on so called cultural due diligence of

M&A process.

After summarizing 'expanded due diligence' in comparison with 'traditional

due diligence,' we reviewed foregoing research of culture issues during M&A.

Then we suggest a typology of culture clash and culture (change) management.

with the introduction of four studies dealing with the typology of

organizational culture integration.