Skip to main content

The Triggers and Types of Emotions Emerging in M&As

  • Chapter
  • First Online:
Socio-Cultural Integration in Mergers and Acquisitions

Abstract

This chapter digs deeper into the theory and practice of why and how emotions emerge during mergers and acquisitions. The chapter discusses emotions from a cognitive appraisal theory viewpoint, and examines them in practice through a case study of a Finnish–German acquisition where employees were invited to reflect on their emotions regarding integration. The findings suggest that acquisitions raise several emotions, both positive and negative, both in the acquiring and acquired companies. These emotions are triggered by events employees perceive as personally relevant in the workplace. The conclusions offer managers ideas on how to foster positive emotions at different organisational levels to enable smoother and swifter integration following an acquisition.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 44.99
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Hardcover Book
USD 59.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

References

  • Arnold, M. B. (1960). Emotion and Personality Volume II: Neurological and Physiological Aspects. New York: Columbia University Press.

    Google Scholar 

  • Ashkanasy, N. M. (2003). Emotions in Organizations: A Multi-level Perspective. In F. J. Yammarino & F. Dansereau (Eds.), Multi-level Issues in Organizational Behavior and Strategy (pp. 9–54). Emerald Group Publishing Limited.

    Google Scholar 

  • Cannon, W. B. (1927). The James-Lange Theory of Emotions: A Critical Examination and an Alternative Theory. The American Journal of Psychology, 39(1/4), 106–124.

    Article  Google Scholar 

  • Cartwright, S., & Cooper, C. L. (1993). The Role of Culture Compatibility in Successful Organizational Marriage. The Academy of Management Executive, 7(2), 57–70.

    Google Scholar 

  • Fredrickson, B. L. (2001). The Role of Positive Emotions in Positive Psychology. American Psychologist, 56(3), 218–226.

    Article  Google Scholar 

  • Fredrickson, B. L. (2002). How Does Religion Benefit Health and Well-being? Are Positive Emotions Active Ingredients? Psychological Inquiry, 13(3), 209–213.

    Google Scholar 

  • Fredrickson, B. L. (2013). Positive Emotions Broaden and Build. In P. Devine & A. Plant (Eds.), Advances in Experimental Social Psychology (Vol. 47, pp. 1–53). Academic Press.

    Google Scholar 

  • George, J. M. (1992). The Role of Personality in Organizational Life: Issues and Evidence. Journal of Management, 18(2), 185–213.

    Article  Google Scholar 

  • Goldenberg, A., Saguy, T., & Halperin, E. (2014). How Group-Based Emotions are Shaped by Collective Emotions: Evidence for Emotional Transfer and Emotional Burden. Journal of Personality and Social Psychology, 107(4), 581.

    Article  Google Scholar 

  • Graebner, M., Heimeriks, K., Huy, Q., & Vaara, E. (2017). The Process of Postmerger Integration: A Review and Agenda for Future Research. Academy of Management Annals, 11(1), 1–32.

    Article  Google Scholar 

  • Harikkala-Laihinen, R., Hassett, M., Raitis, J., & Nummela, N. (2018). Dialogue as a Source of Positive Emotions During Cross-Border Post-acquisition Socio-cultural Integration. Cross Cultural and Strategic Management, 25(1), 183–208.

    Article  Google Scholar 

  • Haspeslagh, P. C., & Jemison, D. B. (1991). Managing Acquisitions: Creating Value Through Corporate Renewal. New York: Free Press.

    Google Scholar 

  • Huy, Q. N. (2002). Emotional Balancing of Organizational Continuity and Radical Change: The Contribution of Middle Managers. Administrative Science Quarterly, 47(1), 31–69.

    Article  Google Scholar 

  • Kemper, T. D. (2002). Predicting Emotions in Groups: Some Lessons from September 11. The Sociological Review, 50(S2), 53–68.

    Article  Google Scholar 

  • Kusstatscher, V., & Cooper, C. L. (2005). Managing Emotions in Mergers and Acquisitions. Cheltenham: Edward Elgar.

    Book  Google Scholar 

  • Lang, P. J. (1994). The Varieties of Emotional Experience: A Meditation on James-Lange Theory. Psychological Review, 101(2), 211.

    Article  Google Scholar 

  • Laros, F. J. M., & Steenkamp, J.-B. E. M. (2005). Emotions in Consumer Behavior: A Hierarchical Approach. Journal of Business Research, 58(10), 1437–1445.

    Article  Google Scholar 

  • Lazarus, R. S. (1991). Emotion and Adaptation. New York: Oxford University Press.

    Google Scholar 

  • Lazarus, R. S. (1993). From Psychological Stress to the Emotions: A History of Changing Outlooks. Annual Review of Psychology, 44, 1–21.

    Article  Google Scholar 

  • Menges, J. I., & Kilduff, M. (2015). Group Emotions: Cutting the Gordian Knots Concerning Terms, Levels of Analysis, and Processes. Academy of Management Annals, 9(1), 845–928.

    Article  Google Scholar 

  • Rafaeli, A., & Worline, M. (2001). Individual Emotion in Work Organizations. Social Science Information, 40(1), 95–123.

    Article  Google Scholar 

  • Raitis, J., Harikkala-Laihinen, R., Hassett, M., & Nummela, N. (2017). Finding Positivity During a Major Organizational Change: In Search of Triggers of Employees’ Positive Perceptions and Feelings. In W. J. Zerbe, C. E. J. Härtel, N. M. Ashkanasy, & L. Petitta (Eds.), Emotions and Identity (Research on Emotions in Organizations, Vol. 13) (pp. 3–16). Emerald Publishing Limited.

    Google Scholar 

  • Schachter, S., & Singer, J. (1962). Cognitive, Social, and Physiological Determinants of Emotional State. Psychological Review, 69(5), 379.

    Article  Google Scholar 

  • Scherer, K. R. (2009). The Dynamic Architecture of Emotion: Evidence for the Component Process Model. Cognition and Emotion, 23(7), 1307–1351.

    Article  Google Scholar 

  • Sinkovics, R. R., Zagelmeyer, S., & Kusstatscher, V. (2011). Between Merger and Syndrome: The Intermediary Role of Emotions in Four Cross-border M&As. International Business Review, 20(1), 27–47.

    Article  Google Scholar 

  • Smith, C. A., & Ellsworth, P. C. (1985). Patterns of Cognitive Appraisal in Emotion. Journal of Personality and Social Psychology, 48(4), 813.

    Article  Google Scholar 

  • Solomon, R. C. (2003). What is an Emotion? Classic and Contemporary Readings. Oxford: Oxford University Press.

    Google Scholar 

  • Stahl, G. K., Tung, R. L., Kostova, T., & Zellmer-Bruhn, M. (2016). Widening the Lens: Rethinking Distance, Diversity, and Foreignness in International Business Research Through Positive Organizational Scholarship. Journal of International Business Studies, 47(6), 621–630.

    Article  Google Scholar 

  • Warr, P. (1990). The Measurement of Well-being and Other Aspects of Mental Health. Journal of Occupational and Organizational Psychology, 63(3), 193–210.

    Article  Google Scholar 

  • Warr, P., & Inceoglu, I. (2012). Job Engagement, Job Satisfaction, and Contrasting Associations with Person–Job Fit. Journal of Occupational Health Psychology, 17(2), 129.

    Article  Google Scholar 

  • Watson, D., & Clark, L. A. (1999). The PANAS-X: Manual for the Positive and Negative Affect Schedule-Expanded Form. Cedar Rapids: University of Iowa.

    Google Scholar 

  • Watson, D., & Tellegen, A. (1985). Toward a Consensual Structure of Mood. Psychological Bulletin, 98(2), 219–235.

    Article  Google Scholar 

  • Zajonc, R. B. (1980). Feeling and Thinking: Preferences Need no Inferences. American Psychologist, 35(2), 151.

    Article  Google Scholar 

Download references

Author information

Authors and Affiliations

Authors

Editor information

Editors and Affiliations

Rights and permissions

Reprints and permissions

Copyright information

© 2018 The Author(s)

About this chapter

Check for updates. Verify currency and authenticity via CrossMark

Cite this chapter

Harikkala-Laihinen, R. (2018). The Triggers and Types of Emotions Emerging in M&As. In: Raitis, J., Harikkala-Laihinen, R., Hassett, M., Nummela, N. (eds) Socio-Cultural Integration in Mergers and Acquisitions. Palgrave Pivot, Cham. https://doi.org/10.1007/978-3-319-74341-7_2

Download citation

Publish with us

Policies and ethics