earticle

영어

Mergers and Acquisitions (M&As) of companies worldwide have shown a marked growth in terms of number and size, and this trend is continuing. Despite this trend, according to recent M&A studies, the success rate of M&As is still low. In summarizing the diverse studies, the overall success rate of M&As was found to be below 50%. Many studies have been conducted on the causes of the failure of M&As to meet expectations. The cause may be a failure in the integration and execution process after acquisition. It is significant that among these causes, problems in strategies and execution during the integration stage after acquisition have presented themselves as a very important cause of failure in M&As. Also, One major cause of failure in an M&A is that CEOs neglect human and organizational cultural integration and instead of focus only on the legal and financial aspects. Therefore, even if the strategic value of the M&A has been satisfactorily proven and made with appropriate terms and conditions, if integration between the two organizations is not successful, the related organizations may never achieve their goal. This Study, for the success of M&A, stand on the basis of the perception which members are accepted M&A and absorbed in this workplace, examined the relationship among human integration strategy, acceptance to organization change and organization commitment. For this study, data was collected by survey which are conducted by member from 2009 to 2012 to complete M&A. The sample was 360. It was from 4 industrial categories and 24 companies. In order to verify the problem of research, First, for the check a general characteristic of the member was conducted to the frequency analysis. Second, for each question to ensure the validity and reliability was conducted to the factor analysis and reliability analysis. Third, the relationships between variables in order to check the correlation analysis was conducted. Fourth, regression analysis to test the hypothesis were conducted. Empirical verification of the hypothesis can be summarized as follows. Hypothesis 1(Integration strategy has a positive effect on acceptance to organization) consisted on 5 variables, job stability, M&A transparency, M&A fairness, communication, empowerment. The result show that except for communication, job stability and, M&A transparency, M&A fairness, empowerment, the hypothesis was adopted. Hypothesis 2 (Acceptance to organization change has a positive effect on organization committment was also adopted. Hypothesis 3 (Acceptance to organization change has a role mediation between human integration and organization commitment) were partially adopted. Based on these findings, the implications and the limitations of the study were presented.

한국어

본 연구에서는 M&A의 궁극적인 성공을 위해서는 M&A라는 조직변화에 따른 구성원들의 변화수용을 통해 새로운 조직에 대한 몰입이 중요하다는 인식을 기초로 기존에 연구된 연구를 기반으로 인적통합전략과 변화수용성, 그리고 조직몰입간의 관계를 살펴보았다. 이를 위해 본 연구는 2009년부터 2012년까지 M&A를 단행한 국내 기업의 기업구성원들 중 피인수기업출신 대상으로 실시하였으며 4개 업종의 24개 기업의 임직원들 대상으로 진행하였으며 설문대상은 360명이었다. 본 연구에서 설정된 연구문제를 검증하기 위하여 먼저, 조사대상자의 일반적인 특성을 알아보기 위하여 빈도분석을 실시하였고, 각 문항에 대한 타당도와 신뢰성을 확보하기 위해 요인분석과 신뢰성분석을 실시하였으며 변수들의 관계를 살펴보기 위하여 상관분석을 하였으며, 가설검증을 위하여 회귀분석을 통해 인적통합전략과 변화수용성, 그리고 조직몰입에 대한 인과관계를 살펴보았다. 실증연구의 가설검증을 요약하면 다음과 같다. 가설 1인 인적통합전략이 잘 이루어질수록 구성원의 변화수용성이 높아진다는 가설은 본 연구에서는 고용안정성, M&A 투명성, M&A 공정성, 커뮤니케이션, 임파워먼트로 살펴 보았다. 분석결과 고용안정성과, M&A 공정성, M&A 투명성, 임파워먼트는 잘 이루어질수록 변화수용성이 높아졌으나 커뮤니케이션은 그렇지 않은 결과가 나타났다. 가설 2인 변화수용성이 잘 이루어지면 조직몰입은 높아질 것이라는 가설도 채택되었다. 이는 구성원의 변화저항이 낮아지고 변화수용성이 잘 이루어지면 새로운 조직에 정서적 몰입과 지속적 몰입 그리고 규범적 몰입을 강화되는 것으로 피인수기업출신 구성원들이 인수된 기업에 대한 몰입이 높아지면 성공적인 조직통합은 물론 M&A 목표를 달성하기 위한 기본요건을 담보하는 것을 보여주는 결과일 것이다. 가설 3인 변화수용성은 인적통합전략과 조직몰입과의 관계를 매개할 것이라는 가설은 부분적으로 채택되었다.