The study aims to explore the critical issues facing practitioners in post-merger integration (PMI) involving Western and Chinese pharmaceutical companies and to address the strategic management aspects that should be addressed to ensure merger success and synergy realization. By drawing on specific issues, actions/solutions, and outcomes in the post-merger integration of operational/ functional areas, new understanding on strategic management decisions and actions in pre-deal diligence and post-merger integrating process can be generated to explain merger success or failure. The objective of this research is, therefore, to provide more in-depth and substantive propositions to practitioners in Chinese pharmaceutical mergers and acquisitions to achieve successful post-merger integration. / The study has demonstrated the application of the integrative model, based on the mergers and acquisitions (M&A) integration framework of Larsson and Finkelstein (1999) and other theorists on the Chinese context, to various degrees of success. It has been shown that there are problems involved with applying Western integration models to Chinese companies, due to some Chinese management practices and the influence of the state during the state-owned-enterprise-reform process. As shown by the case studies of this research, the post-merger integration process and merger success in terms of synergy realization and shareholder value creation are closely related. Chinese company leadership with more M&A expertise from prior learning experience, as well as its good relationship (guanxi) with the state, is of great importance in securing good M&A deals and positive outcomes from integration with the former state-owned enterprises (SOEs). / It is hoped that the study has provided a framework for understanding why certain mergers and acquisitions fail in China and how that can be improved. In essence, this research has made a contribution to knowledge about the theory and practice of M&A in the China context as its findings were based on the input of ten top pharmaceutical executives and their senior staff. Due to the sharp increase in mergers and acquisitions in China, the study will help to shed light for future studies that will benefit academics and practitioners alike. Moreover, the study has also demonstrated good opportunities for conducting case study research through interviews in Chinese companies today. / Thesis (DBA(DoctorateofBusinessAdministration))--University of South Australia, 2005
| Identifer | oai:union.ndltd.org:ADTP/284317 |
| Date | January 2005 |
| Creators | Chung, Edward M |
| Source Sets | Australiasian Digital Theses Program |
| Language | English |
| Detected Language | English |
| Rights | copyright under review |
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