Chinese and Northwest-European Mergers and Acquisitions With The Use of The Cultural Intelligence Model

Chinese and Northwest-European mergers and acquisitions
with the use of the Cultural Intelligence Model
- A systematic literature review -
BSC Thesis
Chair group: Business
management and organisation
(Yss 81812)
Marlou van Santen
(980729727120)
Dr. E.F.M. Wubben
Dr. W.J.J. Bijman
27-01-2019
Chinese and Northwest-European mergers and acquisitions with the use of the Cultural Intelligence Model
Marlou van Santen 1
Table of Contents
Preface 3
Chapter 1: Introduction 4
1.1 Problem analysis 4
1.2 Research objective 6
1.3 Central research question and sub questions 7
1.4 Methodology 7
Chapter 2: Theoretical Framework 9
2.1 Explanation of the cultural intelligence model 9
2.2 Other cultural models 13
2.3 The comparison of the cultural intelligence model with the previous models 16
2.4 Benefits of the cultural intelligence model 17
2.5 Downsides from the cultural intelligence model 18
Chapter 3: Cultural influence on mergers and acquisitions and post-merger integration 19
3.1 The cultural causes for failure with mergers and acquisitions 19
3.2 The cultural causes for success with mergers and acquisitions 21
3.3 Lessons learned from the cultural intelligence model 23
3.4 Post-merger integration improvement 25
Chapter 4: What are the cultural characteristics of China and Northwest-Europe? 27
4.1 Defining the cultural criteria 27
4.2 The cultural characteristics of China 28
4.3 The cultural characteristics of Northwest-Europe 30
4.4 The comparison of the two cultures 32
Chapter 5: Conclusion and Discussion 35
5.1 General research question 35
5.2 Validity, limitations and suggestions for further research 36
Reference List 38
Search Queries 45
Appendix 45
Marlou van Santen 2
Preface
This bachelor thesis completes my study Business and Consumer studies at Wageningen University.
During the period 2016-2019, I followed several courses dealing with management, marketing and
decision making. Because of the social aspect of the study, which is due to its focus on sociology and
culture, I became interested in a topic that involves both the Consumer major and the Business. This
resulted in a BSc-thesis focussing on the improvement of post-merger acquisition integration (PMI)
looking at a person’s individual culture.
I would like to express my appreciation to my BSc thesis supervisor Emiel Wubben, who supported
me during the process of writing the thesis, and providing constructive feedback when needed. Thank
you for pushing me to the limits and spending valuable time on my thesis documents.
I hope all of you will enjoy reading this thesis and will understand more about the importance of post-
merger integration.
Marlou van Santen
Marlou van Santen 3
Chapter 1: Introduction
The first section 1.1 states the research background and problem analysis. Next to the research
context, section 1.2 presents the overall research objective and outline of the thesis. Section 1.3
presents the general research question and sub questions. At last, in section 1.4 the methodology of
this report is presented.
1.1 Problem analysis

In markets and companies, mergers and acquisitions (M&A) occur. Multiple reasons influence M&A
and there are multiple reasons for merging and acquiring. One of the reasons for a M&A is a strategic
motive (Zhu & Zhu, 2016). Other reasons are cost efficiencies, product efficiencies, economies of
scale or scope, synergies, managerial incentives and gaining market power (Diepold, 2005). The
M&A can cause a positive financial result, when the perceived value of the combined firms is greater
than the sum of the values of the separate firms (Erel et al., 2012). Other firms have as result, an
advantage in ownership advantages, location, and internalization (Diepold, 2005).
M&A occur not only within countries, but also across borders, bringing about specific cultural causes
for failure and influencing the post M&A integration. This results in additional factors influencing the
success of the M&A. The companies involved in M&A must take more aspects into account than
when a M&A occurs within one country. Different countries cause differences in corporate
governance, geographical distances and cultural identities. When these differences are not explicitly
dealt with in merging companies a failure is almost unavoidable. One may thus conclude that, when
companies merge or acquire, the new companies may experience many challenges in succeeding the
M&A. The company culture influences this so-called post M&A integration (PMI) (Tedla, 2016).
Many papers with Western oriented cultural models and relatively recent models can be found in
scientific databases relating the field of company culture to M&A. With more than two million hits in
the database Scopus on Hofstede’s cultural dimensions (1980), the business culture study of
Trompenaars and Hampden-Turner (1997) and the GLOBE study (2004) of House make these
cultural studies within the field of M&A almost truisms (Search Query 1). But a relatively recent
model on cultural diversity is that of Cultural Intelligence (CQ). CQ, has set up four pillars in which
success could be measured: These four pillars are; motivation (CQ-Motivation), cognition (CQ-
Knowledge), meta-cognition (CQ-Strategy) and behaviour (CQ-Behaviour) (Earley & Ang, 2003).
While this model has been reviewed it has rarely been applied in a specific area or sector (Murphy et
al., 2019). Since CQ- model has not been researched much, it is attractive to research because it might
provide new information within the PMI.
Marlou van Santen 4
Literature distinguishes different levels of culture, but this study is going to focus on merely one of
them. First, there is an individual level, in which is focussed on individual persons. Second, the group
level, is focussed on how individuals interact and react within groups. Third, the national level, in
which is focussed on how individuals react within the culture of their land. It is a conscious choice by
this author not to examine any further theoretical models based on group dynamics and team culture.
Since models and theories focussed on group culture have been researched quite some time (Chen et
al., 2018). The focus is based on group level, while the individual level is not mentioned. If the
research would only focus on group level and team culture, the research would not contribute much in
the field, since almost every aspect has been researched. On the contrary, the influence between the
individual level and the national level is not that often researched, what makes it an interesting
combination to study (Murphy et al., 2019). Therefore, to apply the CQ-model in different continents
by making use of academic literature and previous quantitative studies provides potential to arrive at
new insights on the topic of PMI.
When looking at the national level of culture and M&A, three aspects need to be considered.
Currently, some Asian countries are rapidly developing and becoming more Western orientated.
Asian companies are more involved and showing their interest towards Western companies, which
result in more international companies with M&A (He et al., 2019). Since both countries have their
differences in culture it is first, important for Asian companies as well as Western companies that they
adjust and interact with each other. So, they are both able to optimize their company processes, profits
and outputs. Second, especially with M&A, it is necessary to realize a success in PMI.
Communication, integration strategies, implementation and the aligned measures are the main causes
a M&A fail (Epstein, 2004). Third, an integration of culture is important for understanding and
motivation. As mentioned above, communication, integration and culture are one of the main
bottlenecks in M&A. And accordingly, to Ang, Early and van Dyne (2003, 2008) this model can
improve the integration, performance and attitude.
In sum, having success with M&A depends on different factors. The different ways of implementing
integration, communication, culture, governance and regulations remain an issue for many companies.
Not only within countries, but also cross-border M&A face these challenges. Culture as one of the
main causes for failure. However, research in the field of CQ has only been done on large scale and
not across specific continents. This in comparison with other classical theories, as mentioned above.
Hence, this is something to execute further research.
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1.2 Research objective
The aim of this study is to find out what influence the application of the CQ-model has on the PMI in
Northwest-European companies when these companies merge and or acquire with Chinese
companies. This is done by making use of one of the models of cultural PMI, the model of CQ
developed by Earley and Ang (2003). The abbreviation PMI in this research is defined as the post-
merger acquisition integration.
Since more than 70 percent of the international mergers fail, mostly due to mismanagement of
cultural issues, improvements of PMI are desirable (Goodman, 2018). Especially for Asian companies
who are trying to succeed in the west, this high percentage of failure did not yet change to the better
(Goodman, 2018). Cultural management problems in Asian and Northwest-European companies are a
continuous challenge. Managers have not found the solution towards a better cultural adjustment to
improve the PMI and improve the success of international M&A. However the CQ-model is a model
which might improve the cultural transitions. Since the model is designed to determine the cultural
understanding and capability in cultural adjustments of individuals.
Therefore, this research will focus on two areas in the world, namely on companies and culture in
Northwest-Europe and in China. The research will focus on these areas since it is difficult to make a
comparison between too diverse regions in land surface, population, wealth, habits and culture.
Therefore, a comparison between for example China and The Netherlands is not suitable for this
research.
Since most of the developed Chinese companies are located on the east coast of China, most articles
refer to China without including the inland. Because this research is limited to existing literature, this
research will mainly focus on the east coast of China. Further, the research will focus on Northwest-
Europe because the national culture within these countries is the same. Besides, most available
literature focusses on countries in Northwest-Europe. Germany, The United Kingdom and
Scandinavian countries are commonly used, therefore this research focusses on Northwest-Europe.
Marlou van Santen 6
1.3 Central research question and sub questions
The general research question and sub questions are formulated so the research questions are logically
connected and aim to guide the research towards the achievement of the research objective. In this
research one general research question and three sub questions are formulated.
The following general research question is set up:

How can the application of the cultural intelligence model in Northwest-European companies
improve the post-merger integration with a Chinese company?
The general research question will be answered after examining the following three sub questions:
(1) What differentiates the cultural intelligence model from other models on the topic and what
are its benefits and downsides?
(2) What are the cultural causes for failure or success when companies merge or acquire, and
what are the possibilities for post-merger integration improvement when looking at the
cultural intelligence model?
(3) What are the cultural characteristics of China versus Northwest-Europe?
These three questions will answer the general research question since each question covers a part of
the general research question. The first sub question will discuss the cultural intelligence model. The
second sub question will discuss the PMI. The third question will discuss the characteristics of
Northwest-Europe and China.
1.4 Methodology
The method that will be used to analyse the data is that of a systematic literature review. In this
method, search queries are determined and filled in scientific databases. The databases that will be
used are; Scopus and ABI/Inform. All-important search queries will be noted, together with the
amount of hits. By making use of wildcards and synonyms different outcomes can be generated. With
forwards and backwards searches new relevant articles, leading articles and classical articles will be
found. After the queries are determined, the screening begins and the PRISMA flow diagram is used
to further exclude articles and select the important papers (Moher et al., 2009). In this way the
relevant literature is selected for answering the general and sub questions.
In the introduction of each following chapter a table is presented with identified keywords. These
keywords are the basis of each subsection within the chapter. The keywords were determined after
reading more into the subject of each chapter. The search queries were determined by trial and error
and adding wildcards and words into the databases. For the used queries it was important to make sure
the amount of hits was a usable amount. It was also important the used search queries all had usable
papers for this research.
Marlou van Santen 7
In the PRISMA flow diagram designed by Moher a description of the amount of papers that were
identified is given (et al., 2009). The abbreviation stands for ‘preferred reporting items for systematic
reviews and meta-analyse’ and the PRISMA flow diagram is a method for systematic literature
reporting (Moher et al., 2009). The flow diagram has multiple steps in which the amount of hits,
excluded papers and final amount of used papers is given (Moher et al., 2009)(See Appendix 1). This
is important for the research because the PRISMA flow diagram helps improving the systematic
literature reporting. The PRISMA flow diagram let you see the used dataset and makes sure that the
research can be reproduced in exact the same way. In the table of Appendix 2 the queries with the
determination of screening criterion and other reasons why papers were excluded is given. The
amount of fully read papers is given and the amount of papers that were finally requested and used
from the library is given.
Then all relevant results will be put in a table, to create a structured view of all the papers. In
Appendix 2 the table with each query following the steps of the PRISMA diagram is presented.
In this literature research, different articles will be used, differencing from academic to professional
and consultancy articles. Consultancy reports will be analysed critically since these reports are written
for a company with a commercial interest and might therefore be not based on scientific research.
Finally, to show the feasibility of this research the amount of hits per useful search query is given in
Appendix 2. The number of hits is without deleting the number of duplicates or the number of
irrelevant papers. So, it is seen that the topic is not a truism, but has enough scientific papers to
provide validity.
In this thesis, first, the model of CQ is explained. Further, the possibilities for improvements of PMI
in the M&A is given. The current culture in both areas will be discussed by defining the
characteristics of each culture by using scientific literature. And finally, the general research question
will be answered by combining the answers from each sub question.
Marlou van Santen 8
Chapter 2: Theoretical Framework
In this chapter the following sub question will be answered:
What differentiates the cultural intelligence model from other models on the topic and what are its
benefits and downsides?
The chapter is divided in five different sections through which the sub question will be answered. In
section 2.1 the CQ-model (Earley & Ang, 2003) will be discussed. In section 2.2, the five factor
model (Norman, 1963), the Hofstede framework (1980) and model of Trompenaars- Hampden Turner
(1977) are discussed. Section 2.3 gives the comparison between the CQ-model Earley & Ang, 2003)
and the other three models from section 2.2. Section 2.4 discusses the benefits of the cultural
intelligence model (Earley & Ang, 2003). Section 2.5 discusses the downsides of the cultural
intelligence model (Earley & Ang, 2003).
The following search keywords and search queries were inserted in the databases Scopus and
Abi/Inform. These identified keywords and queries can be seen in table 1, the complete table is stated
in Appendix 2
Table 1: Keyword and search queries used in Chapter 2

Search Keywords Search Queries Hits
Cultural intelligence “Cultural intelligence model” 156
model
Cultural intelligence “Cultural intelligence” model AND Definition AND ANG 306
model
Cultural intelligence national AND organizational AND culture* AND "Cultural 6
model Intelligence"
Trompenaars Hampden- Trompenaars AND Culture, Trompenaars AND culture AND 451
Turner business AND empower* AND Hofstede AND model AND
dimension* AND performanc*
Five factor model "Big five personality" AND Culture 2970
Hofstede’s Framework Hofstede AND “cultural intelligence” 5
Cultural intelligence, "Cultural intelligence" model AND definition* AND benefit* 42
downsides, benefits AND downside
2.1 Explanation of the cultural intelligence model

The interest in real world intelligence developed itself since the twentieth century. Resulting in the
focus on specific domains of intelligence. Thorndike and Stein developed the concept of social
intelligence (SQ) (according to Ang & van Dyne, 2008). Mayer and Salovey developed the concept of
emotional intelligence (EQ) (according to Ang & van Dyne, 2008). Sternberg developed the concept
practical intelligence (PQ) (et al. according to Ang & van Dyne, 2008). Schmidt and Hunter
developed the concept of general intelligence (IQ) (according to Ang & van Dyne, 2008). But
alongside these well-known concepts Earley and Ang developed a new type of intelligence; cultural
Marlou van Santen 9
intelligence (CQ). They drew on the multidimensional perspective of intelligence from Sternberg and
Detterman (according to Ang & van Dyne, 2008) when developing the conceptual model of CQ. And
it is consistent with the definition of IQ, “the capability to grasp and reason accurately with concepts
and succeed in problem solving.” (p. 878, Moon, 2010). The CQ is defined as “an individual’s
capability in adjusting to a new cultural context, but also his or her ability to manage people who have
dissimilar cultural backgrounds and understanding” (Earley & Ang according to p. 876, Moon, 2010).
It can be a difficult task for individuals as well as for their organization to work with people from
different cultures. Cultural barriers can cause misunderstandings that harm efficient and effective
interactions (Adler according to Ang et al., 2006). Therefore, the model aims to prove insight into an
age-old problem. The problem of why some people succeed in culturally diverse settings, but others
do not (Ang & van Dyne, 2008).
The model of CQ is a prescribing model based on domains of individual difference which consists of
capability, interest and personality. All of these are considered to be part of the capability of one
individual (Earley & Ang, 2003). However, CQ is conceptually different and thus distinguished from
the other types of intelligence. The CQ-model focusses itself on intercultural settings. Because of the
norms for social interaction vary from culture to culture. Other types of intelligence, like IQ, EQ and
SQ are less likely to transfer automatically into effective intercultural adaptations and interactions
(Earley & Ang, 2003). Resulting that an individual can rate high on the domains on IQ, EQ, SQ or PQ
of their original culture. But this does not automatically lead towards success in adapting to different
cultural settings.
As previously mentioned, the design of CQ is grounded in the multiple loci of intelligence framework
of Sternberg (1986). The model of CQ has a multidimensional construct with four fundamental
components, the meta-cognitive facet (CQ-Strategy), the cognitive facet (CQ-Knowledge), the
motivational facet (CQ-Motivation) and the behavioural facet (CQ-Behaviour) (Earley & Ang, 2003;
Moon, 2010 ).
Cultural intelligence
CQ- Motivation CQ- Knowledge CQ Strategy CQ- Behaviour

(Motivational CQ) (Cognitive CQ) (Metacognitive CQ) (Behavioral CQ)
Intrinsic Cultural systems Awareness Verbal
Extrinsic Cultural norms and Planning Nonverbal
Self-efficacy values Checking Speech acts
Marlou van Santen 10
Figure 1: The CQ-model (Earley & Ang, 2003)
The CQ-Strategy is defined as “one’s specific ability to gain understanding and comprehend a new
culture based on a variety of factors” (p. 879, Moon, 2010). Factors that influence this ability are the
planning strategy before cross-cultural interactions take place. The adjustment of cultural knowledge
when one is interacting with people with different cultural backgrounds. And the ability of monitoring
the accuracy of cultural knowledge during cross-cultural encounters (Earley according to Moon,
2010). When the CQ-Strategy is high, individuals are able to develop new heuristics and rules for
social interaction in new cultural environments (Ang & van Dyne, 2008). An example in which this
factor becomes clear:
“a Western business executive with high CQ-strategy would be aware, vigilant, and mindful about the
appropriate time to speak up during meetings with Asians. Those with high CQ-Strategy would
typically observe interactions and the communication style of their Asian counterparts and would
think about what constitutes appropriate behaviour before speaking up.” (p. 5, Ang & van Dyne,
2008)
The CQ-Strategy is important for the CQ since it triggers active challenges to the reliance on
culturally bounded thinking. Promotes active thinking in different cultural settings. Drives individuals
to revise and adapt their own strategies in a way that they are more culturally appropriate and more
likely to achieve desired outcomes in cross-cultural situations (Ang & van Dyne, 2008).
The CQ-Knowledge refers to “An individual’s level of cultural knowledge or knowledge of the
cultural environment” (p. 5, Ang & van Dyne, 2008). This includes knowledge about economic and
legal systems, language of other cultures and religious beliefs. So, the CQ-Knowledge focuses more
on norms, practices and conventions in different cultures. This is important for the CQ since
knowledge of culture influences people’s behaviours and thoughts. So, people with high CQ-
Knowledge are superior in interacting with people from a culturally different society. They
understand the society’s culture and their components allows them to better shape and appreciate the
system. Which allows them to define patterns of social interaction within a culture (Ang & van Dyne,
2008).
The CQ-Motivation is the third component of CQ and reflects “one’s propensity to commit to
adaptive behaviours when trust into a culturally unfamiliar setting” (p. 879, Moon, 2010). This
involves the confidence on culturally diverse interactions. Management of stress from adjusting to
unfamiliar settings and the preference for interacting with people from different cultures. (Earley
according to Moon, 2010). The drive for motivation is influenced by the expectation of being able to
successfully accomplish a task and the value associated with the accomplishment of the task.
Individuals with high CQ-Motivation are better prepared and feel more confident in cross-cultural
situations due to their intrinsic interests. An example in which this becomes clear:
“A Chinese executive who has a good command of Japanese and likes interacting with those from
other cultures would not hesitate to initiate a conversation with a fellow colleague from Japan. In
contrast, another Chinese executive who is just learning Japanese or dislikes cross-cultural
encounters would be less likely to engage in such a cross-cultural interaction.” (p. 6, Ang & van
Dyne, 2008). So, the CQ-Motivation is critical for the CQ because it triggers effort and energy
directed toward functioning in new cultural settings.
The last component of CQ is that of CQ-Behaviour, this refers to “one’s ability to act on one’s desire
or intent” (Earley according to Moon, 2010). This factor includes a sense of flexibility for behavioural
responses, fitting to a variety of culturally diverse situations. Furthermore, when a cross-cultural
interaction requires it, it gives the ability to adapt in verbal and nonverbal behaviour. CQ-Behaviour is
important because verbal and nonverbal behaviours are the most salient features of social interactions
(Ang & van Dyne, 2008). Since an individual has no access to one other’s thoughts, motivation or
feelings. Therefore, they only rely on what they can see and hear. Focussing on the vocal, facial and
other outward expressions (Ang & van Dyne, 2008). Especially in cross-cultural situations, the
nonverbal and outward expressions are from great importance. They form the silent language in which
men can understand the other (Hall according to Ang & van Dyne, 2008). This makes CQ-Behaviour
one of the most critical factors when assessing the CQ.
Concluding, the CQ-model contains four different factors in which someone's capability in adjusting
to a new cultural context is determined. The cultural judgement and decision making are determined
by the CQ-Strategy and CQ-Knowledge. The cultural adaptation is determined by the combination of
CQ-Motivation and CQ-Behaviour. And finally, the task performance is determined by the CQ-
Strategy and the CQ-Behaviour (Ang et al., 2006). So, by examining these four factors, it can be
understood why some individuals can deal more effectively with cultural diversity than others can.
2.2 Other cultural models
In the past, more models have been developed to determine someone's cultural behaviour. In the
section below, three models will be discussed.
The first model to be discussed is one that is closely connected to the CQ, namely the five-factor
model (FFM). This model gives more dimension towards the personality of a person. In which
individual differences are found in thought, feelings and actions (McCrae & Costa, 1990). It is
interesting to look at these factors since they can be generalized across cultures. They can be used for
predicting human behaviour and can be measured reliably and validly (Moody, 2007). These five
traits used in the model are; agreeableness, conscientiousness, extraversion, neuroticism, and
openness to experience (Norman according Migliore, 2011).
The first factor agreeableness focuses on the concern for cooperation and social harmony of an
individual. (Johnson according to Migloire, 2011). When a person scores high on this factor the
person can easily adapt and give value to others, whereas a low score indicates being reluctant to get
involved and being sceptic.
The second factor is conscientiousness, this refers to the way individuals regulate, control and direct
their impulses when they are related towards the decision-making and action-oriented behaviour
(Johnson according to Migloire, 2011). A high factor indicates being careful, reliable, having a focus
and being well-organised. But low scores indicate, disorganisation, being flexible, casual and being
easily distracted.
The third factor is extraversion, this indicates being action oriented, assertive and an individual who
enjoys opportunities (Johnson according to Migloire, 2011). Scoring low in this factor means being
introvert.
The fourth factor neuroticism is been described as the inability to cope with day-to-day life activities
and the amount of emotional suffering. (Johnson according to Migloire, 2011). Someone who scores
high shows anxiety, depression or anger, whereas a low score indicates control of stress.
The fifth and final factor is openness to experience and determines the intellectually curiousness and
the cognitive ability of a person’s creativity (Johnson according to Migloire, 2011). Higher scores
indicate a broad mind-set and an individualistic way of thinking while a low score indicates a
conservative intellectual focus and a preference for familiarity and narrow thinking.
The importance of this model is that by examining these factors, the performance rate of individuals
can be rated. In this way, managers can choose their employees on their individual characteristics. So,
they are able to support their employees. This can be done with for example training, in which the
employees will be able to improve themselves. In Caligiuri’s study (2000) 237 persons were
examined on the factors performance and desire to prematurely terminate an assignment. Results
found out that people who are more extrovert and agreeable are less likely to terminate their
assignments. And people who have a high conscientiousness are sooner rated as superior performers
by their supervisors (Moody, 2007).
The second model to be discussed is Hofstede’s framework (1980). Geert Hofstede defines culture as
“the collective programming of the mind that distinguishes the members of one group or category of
people from another” (Hofstede & Hofstede, 2005, p. 400). He created a framework in which the
countries differences about employee values were analysed In this framework five dimensions are
determined; individualism- collectivism (IDV), power distance (PDI), masculinity-femininity (MAS),
uncertainty avoidance (UAI) and time orientation (long-term and short-term) (LTO). However, the
framework’s foundation is closely related towards the FFM since the FFM mean personality scores
are significantly and substantially correlated with Hofstede’s cultural dimensions (Hofstede &
McCrae according to Migloire, 2011).
The first dimension is the individualism-collectivism parameter. These opposites of each other
represent the degree to which individuals are supposed to look after themselves or remain integrated
into groups (Hofstede & Hofstede according to Migloire, 2011). Societies with individualistic
characteristics tend to be self-focussed in contradiction with collectivists societies which tend to have
a more people-group view.
Second, the dimension of power distance is referred as “the extent to which the less powerful
members of institutions and organizations within a country expect and accept that power is distributed
unequally” (Hofstede & Hofstede, 2005, p. 402). It differs from societies if less powerful members
have the ability and the courage to speak up.
Third, the difference in masculinity and femininity is related towards the emotional gender roles
within a society. In masculinity societies, men are more assertive and focussed on success whereas
women are concerned with the quality of life and more modest. In feminists’ societies these genders
overlap, and both are expected to be modest, tender and concerned with life (Hofstede & Hofstede
according to Migloire, 2011).
The fourth dimension is uncertainty avoidance, this is the dimension which indicates if members of a
culture feel threatened because of unknown situations or ambiguous behaviour (Hofstede & Hofstede
according to Migloire, 2011).
The fifth and final dimension is related to time orientation and represents the extent to which a society
accept delays, in emotional needs, social and material (Hofstede & Hofstede according to Migloire,
2011). Although his definition of culture supports the classical model of personality structures and
culture, he is resolute in differentiating the different levels of culture. The national level, culture at the
group or organizational level and the personality at the individual level are determined (Hofstede &
Hofstede according to Migloire, 2011). Finally, when using this model it must be taken into account
that behaviours of one particular culture may not have the same psychological significance in another
country (Migloire, 2011).
The third and final model that will be discussed is the cross-cultural communication model by
Trompenaars and Hampden-Turner (1997), that is focused on general business and management
(Ildikó, 2008). This third model is discussed because it has been used in many cultural researches
(Search Query 2). Building on Hofstede’s framework they have set up seven different cultural
dimensions. The additional value of this framework is that it is focus-oriented. While Hofstede's
model focusses itself on the values which are present in people, which in the end affect their
behaviour. Trompenaars and Hampden-Turner model focusses itself on the surface of a person’s
culture. So, it is able to show the choice and manner in which a person plans and handles their actions.
The Trompenaars Hampden-Turner model has different dimensions. First, the universalism versus
particularism. In particular cultures, these codes, rules and values codify how people relate to each
other.
Second, the individualism versus communitarianism refers to the individualism-collectivism factor of
Hofstede (1980). In individualistic cultures, people place themselves above the community, whereas
communitarianism cultures place the community before the individual.
Third, the factor specific and diffuse relates towards the fact that individuals have a larger public
sphere than a private one. In a diffuse culture the opposite is reality and thus individuals have a larger
private sphere than a public one.
Fourth, the factor affective and neutral focusses on the use of emotions. In an affective culture the
displaying of emotions is natural, while in a neutral culture this is undesirable.
Fifth, the factor achievement versus ascription, where the status derives from what individuals have
accomplished. But when the culture is ascription oriented the status refers to the birth, education or
gender.
Sixth and seventh, the dimensions time and internal versus external orientated. So, while the model of
Trompenaars Hampden-Turner has some overlap with the Hofstede’s framework (1980). It
differences in the dimensions and is more focus-orientated than the other three models mentioned.
So, the three models discussed in this part each focus on the cultural aspect of an individual and the
improvement of communication. While the FFM focusses on the personal traits, Hofstede’s
framework and the study of Trompenaars Hampden-Turner focusses on the individual within a group
or country. These three models can be compared with the CQ-model since they focus on the cross-
cultural characteristics of people. In this way the functionality and the feasibility of a possible CQ-
model application can be determined.
2.3 The comparison of the cultural intelligence model with the previous models
The CQ-model differences itself from the other models since it focuses specifically on an individual's
capability in adjusting to a new cultural context. The FFM only gives dimension of the personality of
a person but the CQ-model gives dimensions of its adaptability. The models are connected since
scoring high or low on some personality traits of the FFM influences one’s attitude and commitment
which influence the CQ-components. So, for example when a person scores high on being open to
experience and conscientiousness, it interrelates to the CQ components CQ-Motivation and CQ-
Strategy.
Similarities between the CQ-model and the FFM are that both models are used in cross-cultural
situations and focus on individuals specifically. The Hofstede model is different from the CQ-model
since it focusses on the behaviour of groups and nations and thus not on individuals itself. The
Hofstede model itself is interesting since it provides useful data about the way individuals function
within one country. National characteristics have influence on the individual characteristics and
choices (Zhang & Gelb; Gregory & Munch according to Chipulu et al., 2016). The similarity between
the models is the fact that both models are designed to determine the cross-cultural characteristics.
Finally, the model of Trompenaars and Hampden-Turner also has similarities in the defining of cross-
cultural. It relates towards the CQ-model since it focusses itself specifically on the communication.,
How people behave, and the expectance how individuals react. While the seven dimensions are
determined from Hofstede they focus on the individual perspective.
2.4 Benefits of the cultural intelligence model
The CQ-model has because of its approach six benefits when used for determining the adaptability of
cross-cultural teams, individuals and organisations.
First of al CQ is based on the understanding that not only cognitive intelligence is necessary to be
effective and comfortable in multicultural settings (Ott & Michailova according to Gabel-Shemueli et
al., 2019)
Second, CQ appears to represent a timely and relevant construct for the creation of gaining insight
about the impact of the team members capabilities when working in global teams (Henderson et al.,
2018). Therefore, the model is positively associated with the competence of cross-cultural and
international strategic alliances (Yitmen according to Henderson et al., 2018).
Third, if managers use this particular model in the PMI, research has shown that it increases
communication effectiveness in diverse environments, cooperation, negotiation, motivation and team
norming processes (Groves et al.; Imai & Gelfand according to Gabel-Shemueli, 2019; Adair et al.,;
Bücker et al. according to Henderson et al., 2018).
Fourth, to continue on the research of Bücker, a well-executed CQ-model, also increases the job
satisfaction and the overall performance in multinational enterprises. This results in a greater
engagement in culturally diverse settings and more confidence in managing intercultural interactions
(Templer et al., according to Henderson et al., 2018).
Fifth, improving the PMI in a company by looking at the prescribing CQ-model improves the
formation of a negotiated culture due to the enlivening of motivation al behavioural CQ (Gregory et
al., according to Henderson et al., 2018).
Sixth and final, this model has as the benefit that it zooms in on a more micro- level. Since already
much work has been done on the macro-societal level (Hofstede, 1980; House et al., 2004) Often
important information is missing associated with culture (Clark et al., 2017)
2.5 Downsides from the cultural intelligence model
The CQ-model has two downsides which influence the usefulness of the model. First, an outcome of
high involvement in culture may not be enough to completely guarantee an greater CQ,. Resulting in
lower employee engagement (Gabel-Shemueli et al., 2019). Therefore, only promoting teamwork as
the prescribing CQ-model suggests is not sufficient to successfully manage culturally diverse settings
(McMillan‐Capehart; Mutuku et al., according to Gabel-Shemueli et al., 2019).
Second, it can be difficult for institutes and companies to measure their overall employee CQ. It is a
challenge to gather information on the employee CQ of your future partner. Because the model is
measured at individual level, it covers the personal characteristics for the adaptability in cross-cultural
situations. This makes the model difficult to use since the CQ differences from person to person.
In this chapter answer is given towards the following sub question;

What differentiates the cultural intelligence model from other models on the topic and what are its
benefits and downsides?
The CQ-model differs from the other three models because it focusses specifically on an individual’s
capability in adjusting to a new cultural context. Due to the four dimensions of CQ, the model is
conceptually different since it focusses on the intercultural settings. If the model is applied in
companies it will trigger active thinking, motivation, respect and a more likely achievement of desired
outcomes in cross-cultural situations. While, the FFM indicates the performance rate of individuals
and the Hofstede and Trompenaars Hampden-Turner model focusses on the broader cross-cultural
differences. The application of the CQ-model is therefore more favourable in companies, since it
combines the benefits of the other models. Further, the benefits of the CQ-model are an increase in
communication effectiveness, team achievements in global teams and it acts beyond cognitive
intelligence. Improves the job-satisfaction and negotiated company culture. With two downsides of
difficulties in measuring their employee CQ and dependency on involvement and encouragement of
their employees. It remains questionable if the CQ-model can be applied successfully. In chapter three
we will look further into the cultural influence and applicability of the CQ-model in the PMI.
Chapter 3: Cultural influence on mergers and acquisitions and post-
merger integration
In this chapter the following subquestion will be answered:
What are the cultural causes for failure or success when companies merge or acquire, and what are
the possibilities for post-merger integration improvement when looking at the cultural intelligence
model?
The chapter is divided in four different sections through which the subquestion will be answered. In
section 3.1 and 3.2 the cultural causes for failure and success in M&A will be given. The CQ-model
will be discussed in section 3.3 to see if the CQ-model can be used for improvement of the PMI. At
last in section 3.4 are factors given for a successful PMI. The following search keywords and search
queries were inserted in the databases Scopus and Abi/Inform. These identified keywords and queries
can be seen in table 2, the complete table is stated in Appendix 2.
Table 2: Keywords and search queries used in chapter 3
Mergers and Cultur* AND Merger* AND acquisition* AND failure 81
Acquisitions,
failures, success
Mergers and cultur* AND merger* AND acquisition* AND failure AND 3784
Acquisitions, AND reason* AND succes* AND lesson* AND maximiz*
failures, success AND international AND Project AND China
Post-merger Post AND merger AND integration AND factor* 125
integration
National culture Hofstede AND “cultural intelligence” 5
National culture "cross-cultural 6

organizational” AND culture AND manag* AND approach*
National culture national culture and characteristics and Europe 32
National culture "cultural characteristics” AND china AND negotiation 8
3.1 The cultural causes for failure with mergers and acquisitions
Data suggest that at least 50 percent of the cross-border M&A’s fail regardless of the acceptance
(Weber et al. according to Hyder & Osanenkhoe, 2017). Although there are multiple causes for the
failures of M&A culture is one of them which is often forgotten. If culture is forgotten it often leads to
an overestimation of the value of the merging firm, at the time the M&A occurs (Weber & Camerer,
2003). However, culture is one of the major aspects involving in M&A. Culture affects the everyday
business of the firms, it sets the uniformly recognized priorities and the shared understanding of the
firms (Weber & Camerer, 2003).
Nevertheless, it is determined that cultural differences between the firms are significant predictors of
the outcomes in the success or failure rates of M&A (Morosini & Singh, 1994)
Failure occurs because it is often unclear how to handle cross-cultural differences in the stage of
analysing and implementing (Nahavandi & Malekzadeh, according to Morosini & Singh, 1994). This
since the national and corporate culture influences the company’s employees’ practices, beliefs,
systems and procedures. They are all combined labelled as the cultural manifestations, the way
employees handle things. The problem with cross-border M&A lays in the forced interaction of both
companies. So, when the cultural mismatch is ignored without doing the latter, a fluent transition is
hindered (Morosini & Singh, 1994).
The cultural distance is defining for the determination of the cultural mismatch. This cultural distance
is the difference between the cultures. Cultural distance further predicts whether the cultures involved
in M&A will be compatible or not (Chapman et al.; Pesch & Bounken, according to Moore, 2019).
The distance is determined by looking at the national culture and the possible gap needed to bridge the
cultures. A gap can occur due to different ways of working within organizations, different
backgrounds and professions. For example, in the case of Daimler- Chrysler merger, they were not
successfully integrated as equals since they had different ways of working and structure styles.
Daimler-Benz’s culture was way more formal and stressed while the culture of Chrysler had a relaxed
and freewheeling style (Weber & Camerer, 2003).
The degree to which the culture assimilate makes M&A easier or harder. Culture is the foundation for
cohesion in the entire organization (Hyder & Osarenkhoe, 2017). When the cultural distance is too
big, a cultural clash occurs. A cultural clash is the stage when the interacting parties expect the other
party to behave in the way that corresponds to their own norm of doing and acting. This has a
negative influence for the negotiations and deals for the PMI process (Stahl et al., 2013). But even if
there is no direct clash, it is likely that the cultures of the firms who merge will differ from each other.
If these differentiations are not managed properly it is most likely that these differences grow out in
an averse diversity. (Bijlsma-Frankema, 2011). Since it starts a “feeling of ‘them-and-us”, employees
keep the pride in the cultural solutions of their own old firm (Bijlsma-Frankema, 2011). These can
cause productivity failures like a lack of trust (Bijlsma-Frankema, 2011).
Another cause why culture can be a cause for failure among M&A is because managers think they can
change someone’s culture in short-term. However, the opposite is the truth and it takes years before
the organizational culture is effectively changed. Yet another aspect of failure is that of cultural
miscommunication. Within culture there are different forms of manners and behaviour. Behaviour is
negotiated and is consistent within cultures, but each culture also has its own distinctive negotiation
style ( Simintiras & Thomas according to Woo & Prud’homme, 1999) Individuals who have the same
cultural background tend to display the same pattern of thinking, reacting and feeling, in line with
their cultural heritage (Woo & Prud’homme, 1999). Since the process of negotiating and
communication is complex the interpersonal communication is key. Language problems appear to be
a real challenge. Often both parties cannot speak their native language but have to adjust to the lingua
franca, English or Spanish. Which makes it hard for negotiators to get the right message through the
headquarters (Grotenhuis, 2009). Further, by not analysing one other’s verbal, nonverbal, social,
situational and contextual structural levels a successful communication will be difficult (Woo &
Prud’homme, 1999). For example, the Chinese appreciate any effort by Europeans to learn the
Chinese customs and culture (Woo & Prud’homme, 1999). So, understanding the cultural traits can
help the negotiations move in the right directions.
So, there are multiple causes for cultural failures in M&A. They fail because of cross-cultural
negotiations, overenthusiastic managers, cultural differences and differences in interpersonal
communication behaviours. However the interpersonal communication is important, besides the basic
negotiation skills to being able to modify the negotiation style into that of your international partner
(Woo & Prud’homme, 1999). Finally, organizations often forget to gather employees who have an
expertise in ‘soft ’skills; skills like flexibility, adaptability, sociability and the ability to communicate
(Kealey et al., 2006). It is difficult to realize company goals if the cultural and interpersonal issues are
ignored.
3.2 The cultural causes for success with mergers and acquisitions
With multiple causes for failures there previously have been some successes with M&A. When
attention is payed towards the culture within a nation and country, there are a four actions which will
increase the success rates of M&A.
First, a clear and compelling strategy is important to understand how to handle cultural differences
with M&A (Firstbrook, 2007). An organization is able to improve their transition by using cultural
anthropology (Moore, 2019). In this way the group is culturally determined. This determination of the
group is done by members and an external group (Cohen according to Moore, 2019). By determining
the culture of your group, it is possible to focus on the best practice and the functioning of the
organization rather than focussing on potential and problems (Moore, 2019). Through positive
psychology, the positive traits, outcomes and experiences are emphasised.
Second, it is important to gather knowledge about the culture of your (new) partner and understand
the markets and their environments (Firstbrook, 2017). Previously, in the case of the Nordic bank
merger it is seen that harmonization is successful. So, the top management knew how to handle the
different Nordic countries. By gathering knowledge about the different cultures, they made sure they
were able to harmonize. This resulted in close contact with the other managers for other Nordic
countries (Hyder & Osarenkhoe, 2017). So, by gathering knowledge and making sure your employees
have knowledge about the new culture they have to integrate with, a successful integration is
encouraged.
Figure 2: The success strategy

of the Nordic banks. (Hyder &
Osarenko, 2017)
Third, it is important to investigate the culture and company structure of the other organization. Since
most of the time, these operate in different ways in comparison with your own culture. It can cost a lot
of money when differences in attitude towards power, individualism and collectivism, tolerance for
uncertainty and preferences for decisions are not considered properly. Due to other kind of regulations
and restrictions (Grotenhuis, 2009).
Fourth, success in M&A is dependent of the functioning of the PMI. There is an assumption that the
communication and coordination between organizations and groups tend to become more problematic
as the distance between the culture of the groups increases (Kogut & Singh according to Stahl et al.,
2013). Every organization consists of different individuals and professions. Thus, it is important to
make sure the good people do not leave the new organization (Grotenhuis, 2009). Organizations who
investigated the cultural differences of the other company were better able to prepare their people to
different ways of working and expectations (Grotenhuis, 2009). By providing employees cross-
cultural training in living, respecting and working with and in other cultures, organizations can keep
their employees motivated. In this way they are also updated about the changing situations (Kealey et
al., 2006). For example, in a Dutch and Japanese M&A a manager said “sometimes we have a clash;
we cannot change entirely to their culture, respect one’s culture, that is the key to success” (p. 52,
Grotenhuis, 2009). This mutual respect is a key asset in cross-border M&A (Firstbrook, 2007).
Relationships, trust and respect are all essential levers for extracting value from the M&A. In the
beginning it is difficult to gain trust. Since trust is a result of a daily process, you have obtained it
when the behaviour of others can do no more harm to you (Bijlsma-Frankema, 2001). By making use
of the cultural distance, organizations are able to learn from each other and are able to expand their
knowledge base. In this way they create additional value (Morosini & Singh, 1994). But therefore, the
PMI has to be perfected in execution, so there won’t be friction (Firstbrook, 2007).
To accomplish cultural success in M&A it is important to have an innovation potential, where the
companies are open to new ideas, cultures and knowledge. There has to be a certain trust and respect,
so the organizations can rely on each other and there has to be a certain tendency, so the companies
need each other to reach their common goals. Finally, there needs to be an integrative potential with
good PMI. So, he two companies can prevent cultural friction and keep their employees motivated
and informed (Bijlsema-Frankema. 2001). Although these actions have had success in different
M&A’s in the previous years, each combination of organizations is different and therefore each
process will have its own demands and outcomes.
3.3 Lessons learned from the cultural intelligence model

The CQ-model has some positives that can be used for the improvement of the PMI and the
improvement of the culture in M&A. The other models discussed in the previous chapters have some
major weaknesses. The central weaknesses are that “they cannot take any account of the importance
or real meaning respondents ascribe in real situations to culture in its different dimensions.” (p. 66,
Soin & Scheytt, 2006). So, they cannot use real life experiences in their dimensions. This is a problem
since these personal traits influence the cultural gap between nations, organizations and groups.
Therefore, it is better to focus beyond the cultural characteristics. And look further into the gathering
of knowledge trust, negotiations and focus on the actual experiences in a culture. Having a proper
look at phenomenon’s in culture improve the total view on the own culture and the other’s firm
culture.
The CQ-model jumps into these flaws since it is much more individually focussed. The model gives
insight in the four factors, CQ-Strategy, CQ-Knowledge, CQ-Motivation and CQ-Behaviour. It
represents other aspects than the Hofstede or Trompenaars Hampden-Turner model. And while the
FFM is individually focussed but not necessary on culture it is not suitable for the improvement of the
PMI.
The CQ-model will be brought into practice in the first phases of M&A and PMI by managers in form
of giving individual assessments. These assessments are designed to determine someone’s CQ and
give managers insight in the cultural values and intelligence of his employees. After assessing the
individual results, a training program can be selected to further understand and develop the CQ. These
training programs can be provided from the company itself or from external companies who offer
assessments and CQ training. The CQ-model will be first applied to employees who are directly
involved in the M&A and to employees who will work in teams with employees from both merging
companies. Employees who are less involved in the M&A will be tested in a later phase of the M&A
transition. Employees are tested with as main goal to improve the understanding of their own CQ and
that of other cultures.
So, if the CQ-model is used in the PMI, companies will have more chance of success in the M&A
transition due to broader employee knowledge on culture. In this way the merging organizations are
able to prevent cultural miscommunication and advance their negotiations. Because they have more
insight in the verbal and non-verbal skills of their employees. By using the CQ-model to measure the
cultural adaptability a new dimension is added. Organizations can adapt to employees personally.
Some employees will be gifted with natural skills and orientation, others will have to be trained to
minimize the possible cultural gap. So, in the end the lesson learned from the CQ-model is that it can
give employers and companies insight into their own cultural attitude of their employees. While the
Hofstede and Trompenaars and Hampden-Turner model are the beginning for the measuring of the
cultural distance and possible cultural gap, this model can be the next step in the analysation of the
culture.
3.4 Post-merger integration improvement
“PMI is a temporary process, comprising primarily of strategic and tactical management decisions and
related activities with the aim of fostering the integration of two firm, following the formal closure of
the deal until it is business as usual again” (p. 114, Batterink, 2009). This process can take up to
multiple years after the merger agreement has been signed. During the years, different opinions and
approaches have evolved among the PMI process. A successful PMI is difficult to achieve (Hyder &
Osarenkhoe, 2017). Especially between firms with their home bases in different countries. Because of
the differences between the two merging companies, adapting to another takes effort, time and
perseverance.
Within the process negotiation is key, three factors influence this process (Woo & Prud’homme,
1999). First, there must be a focus on the conduct of negotiation, including norms, underlying
motivations, expectations, assumptions and attitudes (Woo & Prud’homme, 1999). Second, the
surrounding environment is important. The environment influences company norms, including power
distance, the level of bureaucracy and the economic development. Third, the cross-cultural distance,
including language, cultural expectations and interpretation of behaviour influence the negotiation
(Woo & Prud’homme, 1999). In particular, three key dimensions of national culture influence the
M&A outcome and volume: hierarchy, trust and individualism (Sachsenmaier & Guo, 2019). So,
understanding these factors help the managers understand the other company.
The basis for negotiations is the factor trust. Managers will only deal with the other organisation if
there is a mutual form of trust (Sachsenmaier & Guo, 2019). Besides trust, personal connection and
friendship are required in some cultures. Chinese, for example, only negotiate with people they are
familiar with (Sachsenmaier & Guo, 2019). So investing time in your new partner can be
advantageous and improve the PMI.
When looking at solving problems during the PMI, female leaders are often more competent than
male leaders, they handle conflict resolution and interpersonal relations better. This helps to
streamline the merger process (Eagly & Carli according to Ma & Christensen, 2018).
Training and preparing managers and employees before and during the PMI also improves the
process. Employees are better involved, motivated and have more respect for the other company. In
this way conflicts and cultural clashes are prevented.
Concluding, PMI remains a difficult process when having two foreign companies. A successful
execution is only achievable with good negotiation. This can be achieved by focussing on trust,
environment, culture, personal interest and training your employees. Important for understanding
someone’s culture is determining their national culture and their personal CQ. So, the cultural
distance can be determined and the process of M&A remains streamlined.

What are the cultural causes for failure or success when companies merge or acquire, and what are
the possibilities for post-merger integration improvement when looking at the cultural intelligence
model?
The main causes of most M&A failures are cross-cultural differences. Managers do not know how to
handle cultural mismatches and interpersonal communication behaviours. These failures can be
diminished when a clear strategy is determined, the structure and culture of both companies is known,
and the PMI is streamlined. With the integration of the CQ-model, the PMI will be improved. Better
knowledge and insight in the employee’s individual characteristics and skills will decrease the cultural
gap at organisational level. Training for example can be better adjusted towards specific employees,
who score low in CQ. So, this personal involvement will improve the negotiations, trust and respect
which will eventually improve the PMI.
Chapter 4: What are the cultural characteristics of China and
Northwest-Europe?
In this chapter the following subquestion will be answered:
What are the cultural characteristics of China versus Northwest-Europe?
The chapter is divided in four different sections through which the subquestion will be answered. In
section 4.1, the cultural characteristics of China and Northwest-Europe will be determined by looking
at the model of cultural dimensions defined by Hofstede (1980). The differences between the
characteristics of China and Northwest-Europe are discussed. The characteristics of the two areas are
important for the research. Determining the differences exposes the bottlenecks in the PMI. First, a
short recap is given of Hofstede’s cultural model (1980). Second, the cultural characteristics of China
are discussed using the guidelines of Hofstede’s model. Third, the cultural characteristics of
Northwest-Europe are discussed using the same guidelines of Hofstede’s model. Fourth and final a
comparison is made between the two countries. The search keywords and search queries mentioned in
table 3 were inserted in the databases Scopus and Abi/Inform. The identified keywords and queries
can be seen in table 3, the complete table is stated in Appendix 2.
Table 3: Keywords and search queries used in Chapter 3

Hofstede Hofstede AND “cultural intelligence” 5
Characteristics, “National culture” AND Characteristics AND 8
China China, "cultural characteristics” AND china
AND negotiation
Characteristics, “National Culture AND characteristics AND 32
Europe Europe
4.1 Defining the cultural criteria

To determine the national culture of China and Northwest-Europe the framework of Hofstede is used.
This model is used and not the CQ-model because the culture on national level is needed to gain an
understanding of culture within these countries. To gain detailed information on the individuals within
these countries using the CQ-model a quantitative study is needed to provide this information. Since
this has not been done previously, the Hofstede model (1980) is used to determine the cultural
characteristics.
In Hofstede’s original framework, five dimensions were determined. As explained in the theoretical
framework the framework consist of; individualism- collectivism (IDV), power distance (PDI),
masculinity-femininity (MAS), uncertainty avoidance (UAI) and time orientation (long-term and
short-term) (LTO). In 2010 he added a sixth dimension to his framework. The dimension of
indulgence versus restraint (RES). Indulgence is a society that allows a relatively free gratification of
natural and basic human drives, related to having fun and enjoying life (Hofstede Insights (b), 2019).
The restraint refers to a society in which the gratification of needs is suppresses. In which a society
regulates it by means of strict social norms.
So, in the end, six dimensions are put together to determine the cultural characteristics of a country.
This model is used because it is worldwide recognised and because it is the leading model in the
determination of defining cultural characteristics towards a nation. The data of thousands of
individuals living in each country has been gathered by the Hofstede Centre and indicates the cultural
situation in country (Hofstede Insights (b), 2019).
4.2 The cultural characteristics of China

As mentioned in the previous section, the data used is from the Hofstede Centre (Hofstede Insights
(a), 2019). The Hofstede Centre transferred their gathered data into index numbers. In this way, a
scale of one to hundred is created to make sure that a comparison can be made between different
countries and continents. We will now specify six indices.
The six cultural dimensions of China are differencing from high to low. The score is relatively high
on the Power Distance Index (PDI). Scoring 80 on the PDI this means that China is a society in which
inequalities amongst people are acceptable (Hofstede Insights (a), 2019). This is in line with the
traditional Chinese-culture in which the Confucianism and hierarchical values (Dengji) are important
(Polsa et al., 2013; Wong & Slater, 2002; Nicholson & Stepina, 1998). In this way polarization is
stimulated due to the subordinate-superior relationship. Further, in this society, defence against power
abuse by superiors is impossible, resulting that people should not have any aspirations beyond their
rank (Hofstede Insights (a), 2019). In this society the elderly, male and sovereign rule over the young
individuals and females, who need to obey and pay respect (Bond according to Polsa et al., 2013).
These social norms are divided from the Confucianism and the Guanxi relationships. So, the Chinese
are anchored culturally towards status and relationships within society (Wong & Slater, 2002.) At
last, individuals in China are influenced by their formal authorities and sanctions. While they remain
in general optimistic about people’s capacities for leadership and initiative.
While scoring high on the PDI, China scores low at the individualism- collectivism index (Hofstede
Insights (a), 2019). With a score of 20, the culture is high collectivistic with people acting in the
interest of the group and not in particular of themselves. The Confucianism has fostered the
collectivism in China. It was the base for the primary relationships between communities, families
and the nation. The Confucianism is based on a society in which: “the personal life is cultivated, the
family will be regulated; when the family is regulated, the state will be in order; and when the state is
in order, there will be peace throughout the world” (p. 275, Tsang, 2007). The strong collectivism
results in inner-anchor relationships affecting the hiring and promotions with closer in-anchor
relationships. For example, close family is getting preferential treatment over friends or employees
who form the outer-anchor-relationships (Wong & Slater, 2002). Resulting in a low employee
commitment towards the organization. Since personal relationships are more important than task and
company. Nevertheless, relationships with colleagues can be cooperative for inner-anchor
relationships. Some companies organise social events such as, vacation and dinners for their
employees to create strong interpersonal relationships. Because most of these interpersonal
relationships are stronger that other relationships. They are often cold or even hostile towards the out-
groups.
With a masculinity score of 66 China has a society which is success oriented and driven (Hofstede
Insights (a), 2019). This is amplified by the fact that many Chinese will sacrifice family and leisure
priorities to their work. People make long work hours and provide serves until very late at night. And
leaving families behind in faraway places in order to obtain better work and more salary in the city’s.
The boundaries of the employee’s private lives and their work lives are often blurred (Tsang, 2007).
Not only performance in work is important but Chinese students are also prestige driven. They care
much about their exam scores and rankings, scoring high is the main criteria for achieving success or
not. This drive also founded itself in the Guanxi. If your children work hard and achieve greatness,
you as a parent will receive status, respect and opportunities. Today, this guanxi mechanism still
opens doors for parents, relatives and sibling. Enable them to solicit in securing desirable jobs and
gaining career advancement (Tsang. 2007).
In the dimension of Uncertainty avoidance China scores low with an index of 30 (Hofstede Insights
(a), 2019). Rules are flexible to make sure they suit the actual situation and pragmatisms is part of life.
This flexibility is characteristic for the Mianzi, Communication strategies that avoid embarrassing
confrontations and save another’s face (Nicholson & Stepina, 1998). It protects the individual identity
and the self-respect. To preserve the interpersonal harmony, the Chinese prefer high- context
communication (Nicholson & Stepina, 1998) This is in line with the Chinese being comfortable with
ambiguity and a concern for the truth. For example, the Chinese language is full of ambiguous
meaning, between-the line messages and facial expressions. Which are often difficult for Western
people to interpret and follow (Hofstede Insights (a), 2019).
In the dimension time orientation China scores 87 in the index of long-term orientation (Hofstede
Insights (a), 2019). This means they have a flexible orientation and believe that the truth depends on
the situation, time and context. Resulting in a culture which adapt traditions easily to changed
conditions, thriftiness, perseverance in achieving results and a strong propensity to save and invest.
In the dimension indulgence versus restraint China scores low with an index of 24 which indicates it
is a restrained society (Hofstede Insights (a), 2019). This means that the society within China controls
the gratification of their desires. Chinese feel their actions restrained by the social norms and they feel
that indulging themselves is somewhat wrong. Overall, there is a tendency to be cynic and
pessimistic.
Concluding, China is a country in which inequality among individuals are accepted. Individuals are
success-orientated but each act in the interest of the group, and not merely for themselves. This
indicates that the Chinese are striving at delivering successful outcomes and that they stick towards
their hierarchy. Communication is important and due to their flexibility in rules and time orientation,
the Chinese create a favourable position in comparison with less flexible societies.
4.3 The cultural characteristics of Northwest-Europe
The Hofstede Centre also gathered data in Northwest-Europe. Since these results are given per
country, it is important to discuss multiple countries within Northwest-Europe to be able to give the
characteristics. Therefore, to cover Northwest-Europe, three countries (Netherlands, Sweden, United
Kingdom) will be discussed in this section.
The six cultural dimensions of Northwest-Europe are differencing from high to low. With a PDI of 38
for the Netherlands, 35 for the United Kingdom and a PDI of only 31 for Sweden it can be said that
Northwest-Europe has a low PDI (Hofstede Insights (a), 2019). A society in which people are
independent and have hierarchy for convenience only. The management facilitates and empowers
which have equal rights and a coaching leader (Hofstede Insights (a), 2019). In Northwest- Europe the
power is decentralized, and communication is participative and direct. Resulting in a view in which
institutions are equal and not as domineering, even though the institutions possess power (Borisova et
al., 2017).
With a score of 89 for the United Kingdom, 80 for the Netherlands and 71 for Sweden it is said that
the society of Northwest-Europe is very individualistic (Hofstede Insights (a), 2019). This means that
in Northwest-Europe people have a preference for a loosely knit societal framework. Meaning, the
employer/employee relationships are based on a mutual advantage. Further citizen are expected to
only take care of themselves, and giving offence causes guilt and a loss of self-esteem (Hofstede
Insights (a), 2019). From a young age, the children are stimulated to find out what their unique
purpose of life is and how they can give their contribution to society. Their happiness is determined
by their personal fulfilment. In Northwest-Europe the traditional cultural values are the key for a good
wellbeing of the employees (Fargher et al., 2008). And although, each country has its own cultural
system, most Europeans have a set of cultural repertoires which makes them able to function and act
appropriately throughout other countries in Europe (Waarts & van Everdingen, 2005).
The score regards masculinity is more diverse in Northwest-Europe, since the United Kingdom
deviates from the Netherlands and Sweden. The United Kingdom scores 66, indicating that their
individuals are highly success orientated and success driven. So, they score the same as China
(Hofstede Insights (a), 2019). People in the United Kingdom live in order to work and have
performance ambition. But whereas the United Kingdom has a score of 66. The Netherlands only
have a score of 14 and Sweden only has a score of 5 (Hofstede Insights (a), 2019). Therefore, these
two low scoring countries are feminine orientated. They have a well-balanced society in life and
work. The decision making is achieved through involvement of everyone and people are supported in
their actions by peers. This results in resolving conflicts by compromising, negotiating and sometimes
long discussions. All based on the fact that everybody has enough, and nobody goes without. A
feminine society has positive influence on the women’s decision making and career opportunities and
achievements (Kountouris & Remoundou, 2016). In companies, managers strive for equality, quality
and solidarity in their working lives. Overall, countries in Northwest-Europe are more feminine
orientated, since most countries score low (Hofstede Insights (a), 2019). Therefore, the United
Kingdom is an exception in this situation.
In the case of uncertainty avoidance index (UAI) The Netherlands is the exception on the rule. They
have a score of 53, and thus have slight preference for avoiding uncertainty (Hofstede Insights (a),
2019). The society avoids rigid codes of belief and behaviour. People are against unorthodox
behaviour and ideas. Emotional rules are part of their society and time is valuable. This results in hard
working people with precision, punctuality, and an inner urge to be busy. The countries Sweden and
the United Kingdom score 29 and 35, which means that they have a more relaxed attitude in which
practices count more than the principles (Hofstede Insights (a), 2019). In Northwest- Europe people
belief there should be no more rules than necessary. The end goal is clear but the way towards is
flexible.
Time orientation of the three countries are all more or less the same, with scores for The Netherlands,
67, Sweden, 53 and The United Kingdom, 51. It can be said that the Northwest-European countries
have a slight preference for a society with a pragmatic nature (Hofstede Insights (a), 2019). But since
they are among the index of 50, a real clear preference cannot be seen.
For the last index (RES) the countries also score the same. With scores of, 78 for Sweden, 69 for
United Kingdom and 68 for The Netherlands. Northwest-European countries have a high culture of
indulgence (Hofstede Insights (a), 2019).
Northwest-Europeans are willing to realise their impulses and desires to enjoy life and having fun.
Positive and optimistic attitudes are common, and leisure time is important in life.
Concluding, Northwest-Europe is a region which is individualistically and feminine orientated. Partly,

due to the low PDI, their society is well-balanced and personal fulfilment is important. This results in
equality, quality and solidarity within companies. In general, there is a tendency for a low UAI, rules
are clear but practices count more than principles. At last, people have a positive and optimistic
attitude. So, Northwest-Europe is a society in which equality, independency and success are
important.
4.4 The comparison of the two cultures
It can be argued that the two cultures China and Northwest-Europe differ in most of Hofstede’s
dimensions (1980). The traditional culture, the Confucianism, plays a continuous role in the current
behaviour and cultural characteristics of China. But when looking at Northwest-Europe it is seen that
the traditional culture is much more faded. New movements replace the traditional culture which is
partly a result of the European Union. Due to the strong cooperation between the countries in
Northwest-Europe (Fargher et al., 2008). Further, the Western world in general is more adapted in
history. Due to globalization, modernization and movements like the feminism, the perception of
culture has changed. Concepts like equality and quality of life are taken into account in the current
Western culture. Whereas the Chinese still hold on to their old traditions. The Chinese culture has not
change because of the reign of Mao Zedong, over the period 1943-1976. While the Chinese were cut
of the rest of the world, the collectivism further developed due to the communism (Nicholson &
Stepina, 1998). Due to this self-chosen isolation, Chinese persons did not orientate to the Western
world. In figure 3, the differences in indexes between the countries can be seen, these differences are
further explained in the next paragraph.
Figure 3: Cultural indexes (Hofstede insights (a), 2019)
The main differences between the Chinese culture and the Northwest-European culture is seen in the
dimensions IDV and the dimension PDI. In China the PDI is very high while the Northwest-European
PDI is low. The difference lays in the Confucianism. The status and hierarchy in China is currently
still important to achieve goals in life. While the Northwest-European have hierarchy for convenience,
there is often the possibility to speak-up against people with higher statuses. The IDV differences
much because the Guanxi and communism created a strong collectivistic relationship. The Northwest-
European is standard is based on individualism. Everyone is an individual itself and need to develop
in his or her own way.
In China hierarchy and status is important, they also score high in the masculinity dimension.
Achieving greatness is important. They score low in the dimension of indulgence because due to the
high PDI and collectivism, people are restrained due to social norms and expectations. This dimension
is connected to the dimensions time orientation and uncertainty avoidance. The Chinese are flexible
and not afraid to adapt to new situations. In comparison with Northwest-European countries in which
it is harder to adapt innovations (Hofstede Insights (a), 2019). Further the Northwest-European
countries are more feminist orientated, life and work are balanced out. This is in line with the high
score of indulgence, in which de quality and enjoyment of life is important. The difference in UAI and
LTO, is not as clear as that with the other dimensions. China and Northwest-Europe are more in line
in these dimensions, although there remains a difference. While the Chinese prefer a pragmatic
culture, the European have a slight preference for pragmatic cultures. Their UAI is also more or less
the same since both are flexible towards rules and principles. Although Europeans prefer being
against unorthodox rules and behaviour.
So, as seen in table 4 China and Northwest-Europe differ in multiples ways from each other when
looking at Hofstede’s dimensions (1980). First the Chinese are collectivistic and the Northwest-
Europeans individualistic. Second the Chinese have a high PDI and the Europeans a low PDI. Third,
the Chinese a high masculinity and the Europeans a high femininity. Fourth the Chinese a low
indulgence index and the Europeans a high indulgence index.
Table 4: Differences in
China Northwest-Europe
Individualism- collectivism Low High indexes
Power distance High Average
Masculinity- femininity High Low
Uncertainty avoidance Low Low
Long-term and short-term High Average
Indulgence - restraint Low High
Finally, in the dimensions of UAI and LTO, the countries differ only ten to twenty percent point, so
they are much closer. China has more preference for LTO than the Europeans. When looking at the
UAI, the countries are the same, but the Netherlands are an exceptions of the rule. They score much
higher in this dimension.
Concluding, these two cultures are the opposite of each other. This explains why it is difficult for
companies from these two regions to integrate. The cultural distance is too broad to have a successful
merger in the short term and thus a long, extensive transition with interest, training and respect is
necessary.

What are the cultural characteristics of China versus Northwest-Europe?
The two cultures differ much from each other when looking at Hofstede’s model (1980). China has a
society in which hierarchy is of great importance. Decisions are made in groups with complex
thinking and non-verbal communication. Northwest-Europe has a more individualistic society.
Thinking is simplistic and individually done. Due to the differences between these cultures, much
time is needed to make a successful transition. Therefore, integrating is a bigger challenge, than when
integrating in a culture with similar characteristics.
Chapter 5: Conclusion and Discussion
In section 5.1 the general research question is answered, which contributes towards the achievement
of the stated research question. In section 5.2 the validity, research limitations and suggestions for
possible future research are discussed.
5.1 General research question

This study aimed to find out if the CQ-model could improve PMI in Northwest-European and Chinese
companies Therefore, the following central research question was set op:
How can the application of the cultural intelligence model in Northwest-European companies
improve the post-merger integration with a Chinese company?
This research revealed several key determinants for integrating the CQ-model in the PMI Northwest-
European companies.
First, the CQ-model is interesting to apply in a company since the CQ-model is conceptually different
when comparing to the other three models due to the focus on intercultural settings. The focus lays on
an individual’s capability in adjusting to a new cultural context. So, if the model is applied in
companies it will trigger active thinking, motivation, respect and a more likely achievement of desired
outcomes in cross-cultural situations. The CQ-model will increase communication effectiveness and
team achievements in global teams. It will act beyond cognitive intelligence, improves the job-
satisfaction and negotiated company culture. But it remains important to look further into the
difficulties the CQ-model has in measuring their employee CQ and dependency on involvement.
Second, the main causes of most M&A failures are cross-cultural differences. The application of the
CQ-model can improve the PMI due to a better understanding of interpersonal communication
behaviours, cultural understanding and clear strategies. Integrating the CQ-model in the PMI will
increase cultural knowledge and gives insight in the employee’s individual characteristics and skills.
The PMI of Northwest-European companies will be improved if the CQ-model is applied focussing
on the CQ-Strategy of employees. So, the ability of conformance and adjustment can be determined.
In this way a better decision making is generated, and a better strategy is able to evolve. The CQ-
Motivation also focusses on the management of stress within the unfamiliar settings, so this makes the
managers able to better adjust towards the other strategy. In this way the cultural gap at organisational
level will decrease. So, applying the CQ-model in companies improves the PMI due to more personal
involvement, negotiations, trust and respect.
Third, after analysing the national cultural dimension of Hofstede (1980), it is seen that both nations
are in most dimensions each other’s opposites. This indicates that it is crucial to have a well-executed
PMI. Within the Chinese culture tradition, hierarchical value and social norms from the Confucianism
and Guanxi relationships are of great importance. By applying the CQ-model within the PMI by
actively training employees through assessments, more attention is payed towards the CQ-Knowledge
and CQ-Behaviour. Focussing on improving the CQ-Behaviour of employees will also have influence
on the success rate of the PMI. Although the differences between the two cultures will not disappear,
conflicts are less likely to arise when there is respect and understanding.
When we summarize the research, applying de CQ-model in the PMI gives Northwest-European
companies the possibility to improve the cultural competences of their employees. With the use of
specific training programs set up to assess and improve the individual competences of CQ-Strategy,
CQ-Knowledge, CQ-Motivation and CQ-Behaviour. While the FFM model, Hofstede’s model and
Trompenaars Hampden-Turner model are recognized models, these only focus on the individual
performance rate and the broader cross-cultural differences. The CQ-model focusses on the individual
performance and acceptance within cross-cultural M&A. Focussing on this model within the PMI
process of Northwest-European and Chinese companies may improve the integration because it cause
a better cultural judgement, decision making, cultural adaptation and task performance.
5.2 Validity, limitations and suggestions for further research
This research is based on the theoretical framework of the CQ-model designed by Earley and Ang in
2003. The model is accepted in literature and has been regularly used in recent researches. The other
model used to determine the characteristics of both Northwest-European countries and China has
worldwide recognition. Geert Hofstede and his institute are leading since the framework was
published in 1980. De data used for chapter four is all used from the Hofstede Institute and is updated
regularly. Therefore, it is reliable data to use.
All data and papers gathered apart from the Hofstede Institutes comes from databases Scopus and
Abi/inform. De data is further selected by making use of a systematic literature approach, and by
selecting a searchable query. However, with regard that this thesis written in two periods during the
year, it is necessary to mention that there might be new insight into the application of the CQ-model
in the meantime.
Further, it is also possible that the research process is influenced by the researcher due to differences
in reading and screening the studies. Which might lead to a different data output and affect the
internal literature.
The biggest limitation of this research is the fact that this research is limited in secondary data.
Therefore, it is not known if the CQ-model is successful in genuinely improving the PMI of
Northwest-European and Chinese companies. So, although this research states that the CQ-model may
improve the PMI, this research did not show how powerful these improvements will be since
secondary data is missing.
Previous data only provided limitations and successes of M&A and PMI. Not the combination with
secondary data and the theoretic framework of the CQ-model. For future research it would be
interesting to apply the CQ-model in the PMI of merging companies. In this way, the significance in
success rate of the improved PMI can be measured. So, it will become clear whether the CQ-model
genuinely does work or not.
Another limitation of this research is the fact that two models are necessary to successfully apply the
CQ-model in the PMI. The CQ-model is individually focussed, but to answer the general research
question the national cultural characteristics of Northwest-European and Chinese countries are
needed. Therefore, it was necessary to use culture on different levels, this is a limitation since the
general research question could not be answered without using one cultural level. Therefore, there is
an inconsistency in cohesion, since the research differs each chapter from cultural level. If the CQ-
model is applied in this research, the national characteristics are the first one which must be
determined. Therefore, two models and researches are necessary to successfully apply the CQ-model
in PMI. This might be confusing and takes effort from managers of the merging and acquiring
companies. For future research it is interesting to focus on the independency of the CQ-model in the
PMI and find out if the model works without focussing on the national cultural characteristics of the
merging country.
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Search Queries:
Query 1: Business culture AND merger and acquisition AND Hofstede OR trompenaar OR GLOBE
2.578.088 hits when searching for classical models related to mergers and acquisition
Query 2: Trompenaars AND culture

2549 results when searching in Abi/Inform
Appendix 1:
PRISMA DIAGRAM
Database Search Query Records Additional Records Records Full tekst Reasons exclude
identified Records Screenend excluded articles
Scopus “Cultural intelligence”model 156 18 30 10 20 Not relevant
information
Abi/Inform Trompenaars AND culture AND 451 2 20 10 10 Not relevant
business AND empower* AND
Hofstede AND model AND
dimension* AND performanc*
Scopus international AND "Group 63 0 5 2 3 Not relevant
decision" AND negotiation
Scopus chinese AND 20 0 20 15 5 Not enough
merger*AND acquisition*AND information,
motive different languag
Scopus Hofstede AND “cultural 5 3 8 4 4 Duplicate, not
intelligence” relevant
Abi/Inform “Cultural intelligence” Model 306 8 20 5 15 Not relevant
AND Definition AND Ang
Scopus national AND organizational 6 5 11 4 7 Not relevant,
AND culture* AND "Cultural different field
Intelligence"
Abi/Inform "Big five personality" AND 2970 5 20 12 8 Not relevant

culture
Abi/Inform "Cultural intelligence" model 42 0 10 7 3 Not relevant
AND definition* AND benefit*
AND downside
Scopus cultur* AND merger* AND 81 5 40 20 20 Duplicate, not
acquisition* AND failure relevant
information
Abi/Inform "Mergers and acquisitions" 480 0 5 0 5 Not relevant
AND Asian AND "Cross-
cultural" AND western AND
employee* AND implement
Scopus "cross-border mergers and 24 0 10 7 3 Not relevant, not
acquisition” AND determinant focussed on
AND firm* Chinese firms
Abi/Inform cultur* AND merger* And 3784 0 5 2 3 Not relevant

acquisition* AND failure AND information
AND reason* AND succes*
AND lesson* AND maximiz*
AND international AND Project
AND China
Abi/Inform "cross border mergers and 585 0 5 3 2 Not relevant
acquisitions" AND effect AND
"european union"
Scopus post AND merger AND 125 1 4 2 3 Not relevant
integration AND factor*
Scopus "Post-merger 8 0 8 4 4 Different
integration” AND driver* AN language, not
D succes* relevant
Abi/Inform "integration process" AND 1664 0 10 4 6 Not relevant,

"Mergers and acquisitions" different sector
AND model AND organization
AND learn* AND adop* AND
factor*
Scopus "cross-cultural 6 0 6 0 6 Not relevant
organizational” AND culture A because of
ND manag* AND approach* different
approaches
Scopus Chinese and
"national Northwest-European mergers 74
Culture” AND and acquisitions5with the use of the
16Cultural Intelligence
5 Model 11 Not relevant,
characteristics AND china Marlou van Santen 47looked for older
sources with
focus on tradition

Chinese and Northwest-European Mergers and Acquisitions With The Use of The Cultural Intelligence Model

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Chinese and Northwest-European mergers and acquisitions

with the use of the Cultural Intelligence Model

- A systematic literature review -

1.1 Problem analysis 4

1.2 Research objective 6

1.3 Central research question and sub questions 7

Chapter 2: Theoretical Framework 9

2.1 Explanation of the cultural intelligence model 9

2.2 Other cultural models 13

2.4 Benefits of the cultural intelligence model 17

2.5 Downsides from the cultural intelligence model 18

Chapter 3: Cultural influence on mergers and acquisitions and post-merger integration 19

3.3 Lessons learned from the cultural intelligence model 23

3.4 Post-merger integration improvement 25

Chapter 4: What are the cultural characteristics of China and Northwest-Europe? 27

4.1 Defining the cultural criteria 27

4.2 The cultural characteristics of China 28

4.3 The cultural characteristics of Northwest-Europe 30

4.4 The comparison of the two cultures 32

Chapter 5: Conclusion and Discussion 35

5.1 General research question 35

5.2 Validity, limitations and suggestions for further research 36

Marlou van Santen

1.1 Problem analysis

The following general research question is set up:

Table 1: Keyword and search queries used in Chapter 2

2.1 Explanation of the cultural intelligence model

CQ- Motivation CQ- Knowledge CQ Strategy CQ- Behaviour

In this chapter answer is given towards the following sub question;

National culture "cross-cultural 6

National culture "cultural characteristics” AND china AND negotiation 8

Figure 2: The success strategy

3.3 Lessons learned from the cultural intelligence model

In this chapter answer is given towards the following sub question;

Table 3: Keywords and search queries used in Chapter 3

4.1 Defining the cultural criteria

4.2 The cultural characteristics of China

4.3 The cultural characteristics of Northwest-Europe

Concluding, Northwest-Europe is a region which is individualistically and feminine orientated. Partly,

4.4 The comparison of the two cultures

In this chapter answer is given towards the following sub question;

5.1 General research question

5.2 Validity, limitations and suggestions for further research

Adler, N. J. (2002). International dimensions of organizational behavior. South-Western College.

Bijlsma‐Frankema, K. (2001) On managing cultural integration and cultural change processes in

Eagly, A. H., Carli, L. L. (2003). The Female Leadership Advantage: An Evaluation of the

Epstein, M. J. (2004). The Drivers of Success in Post-Merger Integration. Organizational Dynamics.

Hofstede, G. (1980). Culture’s consequences: International differences in work-related values.

Hofstede Institute (a). (2019). Country Comparison. Retrieved from: https://www.hofstede-

Hofstede Institute (b). (2019). National Culture. Retrieved from: https://www.hofstede-

Johnson, J.A. (n.d.). IPIP-NEO narrative report. Retrieved from:

Kountouris, Y., Remoundou, K. (2016). Cultural Influence on Preferences Attitudes for

McMillan‐Capehart, A. (2005). A configurational framework for diversity: socialization and culture.

Moody, M. C. (2007). Adaptive behavior in intercultural environments: The relationship between

Morosini, P., Singh, H. (1994). Post-Cross-border Acquisitions: Implementing ‘National Culture-

Nahavandi, A., Malekzadeh, A. (1988).Acculturation in Mergers and Acquisition. Academy of

Query 2: Trompenaars AND culture

Abi/Inform "Big five personality" AND 2970 5 20 12 8 Not relevant

Abi/Inform cultur* AND merger* And 3784 0 5 2 3 Not relevant

Abi/Inform "integration process" AND 1664 0 10 4 6 Not relevant,

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