The emotions of top managers and key persons in cross-border M&As: Evidence from a longitudinal case study

: Melanie E. Hassett, Noelia-Sarah Reynolds, Birgitta Sandberg

Publisher: Elsevier

: 2018

: International Business Review

: 27

: 4

: 737

: 754

: 18

: 0969-5931

DOI: https://doi.org/10.1016/j.ibusrev.2017.12.003

: https://doi.org/10.1016/j.ibusrev.2017.12.003

Building on prior research on emotions in M&A, this paper analyses the post-M&A emotions of top managers andkey persons from the acquired company by examining what triggers emotions during the post-acquisition in-tegration stage, and what the consequences of those emotions are. This study applies cognitive appraisal andaﬀective event theories with empirical evidence based on a longitudinal, single case study of an Indian–Finnishacquisition. The main ﬁndings imply that M&As are very emotional for top managers and key persons. Ourﬁndings reveal that they experience a wide range of positive and negative emotions triggered by individual andcompany-level triggers. Interestingly various triggers can have diﬀerent and opposite appraisal outcomes in theshort and long-term. In addition, top managers and key persons are often restricted in the range of behaviouraloutcomes caused by emotions.