Browsing by Author "Eller, Konstantin Victor Willy"
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- Nonmarket strategies in cross-border mergers and acquisitions process and performance : the case of a telecommunication multinationalPublication . Eller, Konstantin Victor Willy; Wójcik, PiotrLiterature rarely examines the effects of nonmarket strategies on cross-border mergers and acquisitions (CBMA) performance. This dissertation addresses the gap by analyzing how and why nonmarket strategies are used and affect CBMA performance. Based upon a single case study, six semi-structured interviews and additional sources were analyzed. The study identifies nonmarket strategies which the case company uses aiming to obtain organizational legitimacy from various stakeholders. This research reveals that the effects of nonmarket strategies on the case company’s CBMA performance vary across specific nonmarket activities. Corporate Social Responsibility (CSR), as the first subcategory of nonmarket strategies, positively affects CBMA performance, while the effects of Corporate Political Activity (CPA), the second subcategory, depend on the specific activity used. The CPAs lobbyism and financial campaign contributions positively affect CBMA performance, whereas hiring former politicians has no effects on CBMA performance. Another insight is that an integration of CSR and CPA positively impacts CBMA performance. This dissertation identifies obtained organizational legitimacy of various stakeholders as the mechanism bridging nonmarket strategies and CBMA performance. Social Reputation and a population’s CPA acceptance are revealed as factors affecting the effectiveness of CSR and CPA in CBMA, respectively. This study contributes to the literature by providing new insights regarding the effects of nonmarket strategies on CBMA performance, the underlying mechanism, and factors impacting the effectiveness of nonmarket strategies in CBMA. Additionally, it confirms research implying positive effects of the integration of CSR and CPA on organizational performance and extends this research to CBMA.