European Management Journal Vol. 19, No. 3, （欧洲管理杂志》19卷,3号）.pdf

European Management Journal Vol. 19, No. 3, pp. 239–253, 2001 Pergamon  2001 Elsevier Science Ltd. All rights reserved Printed in Great Britain PII: S0263-2373(01)00021-4 0263-2373/01 $20.00 + 0.00 HR Issues and Activities in Mergers and Acquisitions RANDALL SCHULER, Rutgers University, New Jersey SUSAN JACKSON, Rutgers University, New Jersey Mergers and acquisitions are increasingly being ute more efficiently, while other firms focus on their used by firms to strengthen and maintain their pos- own internal growth, leadership and development. ition in the market place. They are seen by many Regardless of industry, however, it appears that it as a relatively fast and efficient way to expand into has become all but impossible in our global environ- new markets and incorporate new technologies. Yet ment for firms to compete with others without grow- their success is by no means assured. To the con- ing and expanding through deals that result in merg- trary, a majority fall short of their stated goals and ers or acquisitions (Lucenko, 2000; Galpin and objectives. While some failure can be explained by Hemdon, 1999; Deogun and Scannell, 1998, 2001). financial and market factors, a substantial number The deals between many of the largest and most suc- can be traced to neglected human resource issues cessful global firms such as Daimler–Chrysler, and activities. Numerous studies confirm the need Chase–J.P.