Cultural divergence in merging family businesses

Mergers and acquisitions (M&A) is one of the strategic options available for business growth, and there is an increased research interest in the topic and its relevance to family firms. In this article, post-merger integration is discussed by looking at ownership, family and management as three separate value systems at work in the process. The interplay between these aspects influences what people perceive as organizational culture in terms of norms and values in a specific setting. The paper builds on a field study of two family businesses in a Nordic setting, including over 200 interviews and 40 h of video. The paper contributes to the emerging knowledge about M&A in family business. Furthermore, it contributes to the field of M&A by highlighting that ownership could be included as an aspect in cultural studies to better understand post-merger integration.

► Illustration of multiple value systems at work in merging/growing family businesses. ► Highlighting of the symbolic position of the family in the family firm. ► Contribution to the scarce body of literature describing M&A between family firms. ► Emphasizing ownership in understanding culture and values in the field of M&A.