IDEAS home Printed from https://ideas.repec.org/a/tkp/ijsrsy/v1y2012i2p103-122.html
   My bibliography  Save this article

Synergy Effects in the Mergers of Collieries

Author

Listed:
  • Izabela Jonek Kowalska

    (Silesian University of Technology, Poland)

Abstract

Purpose – The article focuses on measurement and assessment of the direction and scale of synergy effects in the mergers of collieries in the Polish hard coal mining. Design/methodology/approach – The research included 4 mergers of collieries conducted in years 2006-2011. The measurement of synergy effects was made by subtraction calculation between the total and base effect, according to the definition of synergy effects. Findings – Positive synergy effects were achieved in case of two mergers. These were the mergers of collieries in a good or average financial condition and with a favorable conditions for extraction. The effects of merger in one of them were additionally highlighted by the improvement on the market of hard coal. Practical implications – The research conducted allows to assess the mergers realized in the Polish hard coal mining in the frames of industry restructuring. They also constitute a basis for indicating directions of further industrial restructuring using the mergers of collieries. Social implications – In the article there are also issues analyzed concerning employment in the collieries merged. The mergers of mining enterprises aim to mitigate the scale and results of employment restructuring in the Polish mining. Originality/value – The identification of synergy effects in the Polish hard coal mining has not been analyzed so far. The role of such research is currently increasing due to the economic growth on the market of traditional resources and due to the necessity of competitiveness improvement of Polish coal on the global markets.

Suggested Citation

  • Izabela Jonek Kowalska, 2012. "Synergy Effects in the Mergers of Collieries," International Journal of Synergy and Research, ToKnowPress, vol. 1(2), pages 103-122.
    • Handle: RePEc:tkp:ijsrsy:v:1:y:2012:i:2:p:103-122
    as

    Download full text from publisher

    File URL: http://www.toknowpress.net/ISSN/2083-0025/vol_1_no_2_pap_7_Synergy_Effects.pdf
    File Function: full text in English
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Hitt, Michael A. & King, David & Krishnan, Hema & Makri, Marianna & Schijven, Mario & Shimizu, Katsuhiko & Zhu, Hong, 2009. "Mergers and acquisitions: Overcoming pitfalls, building synergy, and creating value," Business Horizons, Elsevier, vol. 52(6), pages 523-529, November.
    2. Rikard Larsson & Sydney Finkelstein, 1999. "Integrating Strategic, Organizational, and Human Resource Perspectives on Mergers and Acquisitions: A Case Survey of Synergy Realization," Organization Science, INFORMS, vol. 10(1), pages 1-26, February.
    3. Marian Turek & Aneta Michalak, 2011. "New Performance Funding Models As A Way Of Funding Management Improvement In Mining Enterprises," Equilibrium. Quarterly Journal of Economics and Economic Policy, Institute of Economic Research, vol. 6(2), pages 77-90, June.
    4. Fluck, Zsuzsanna & Lynch, Anthony W, 1999. "Why Do Firms Merge and Then Divest? A Theory of Financial Synergy," The Journal of Business, University of Chicago Press, vol. 72(3), pages 319-346, July.
    5. Stefan Bojnec & Martina Drakulic, 2012. "Synergies in Marketing Management in Camping Tourism on the Slovenian Adriatic Coast," International Journal of Synergy and Research, ToKnowPress, vol. 1(1), pages 77-87.
    6. Karim Moustaghfir, 2012. "Explicating Knowledge-based Competitive Advantage," International Journal of Synergy and Research, ToKnowPress, vol. 1(1), pages 23-38.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Mario Bogdanović, 2023. "Destructive Organizational Communication And Manipulation: Emergent Forms, Consequences And Coping In The Function Of Smarter Organizational Solutions," Romanian Economic Business Review, Romanian-American University, vol. 18(1), pages 65-84, March.
    2. Mario Bogdanović1, 2022. "Destructive Organizational Communication And Manipulation: Emergent Forms, Consequences And Coping In The Function Of Smarter Organizational Solutions," Romanian Economic Business Review, Romanian-American University, vol. 17(3), pages 20-39, September.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Chen, J. & Elliott, M. & Koh, A., 2020. "Capability Accumulation and Conglomeratization in the Information Age," Cambridge Working Papers in Economics 2069, Faculty of Economics, University of Cambridge.
    2. Arup Barua & Alexandra Ioanid, 2021. "Synergistic Competitive Advantage - The Modern Appeal of RBV and IO Theory in the Mergers and Acquisitions," Bulgarian Economic Papers bep-2021-06, Faculty of Economics and Business Administration, Sofia University St Kliment Ohridski - Bulgaria // Center for Economic Theories and Policies at Sofia University St Kliment Ohridski, revised Jul 2021.
    3. Bauer, Florian & Schriber, Svante & Degischer, Daniel & King, David R., 2018. "Contextualizing speed and cross-border acquisition performance: Labor market flexibility and efficiency effects," Journal of World Business, Elsevier, vol. 53(2), pages 290-301.
    4. Qing Ma & Susheng Wang, 2018. "A unified theory of forward‐ and backward‐looking M&As and divestitures," European Financial Management, European Financial Management Association, vol. 24(3), pages 418-450, June.
    5. Schweizer, Lars & Patzelt, Holger, 2012. "Employee commitment in the post-acquisition integration process: The effect of integration speed and leadership," Scandinavian Journal of Management, Elsevier, vol. 28(4), pages 298-310.
    6. Kathryn Rudie Harrigan & Maria Chiara Guardo & Bo Cowgill, 2017. "Multiplicative-innovation synergies: tests in technological acquisitions," The Journal of Technology Transfer, Springer, vol. 42(5), pages 1212-1233, October.
    7. Tom Broekel & Matthias Brachert, 2015. "The structure and evolution of inter-sectoral technological complementarity in R&D in Germany from 1990 to 2011," Journal of Evolutionary Economics, Springer, vol. 25(4), pages 755-785, September.
    8. Ahammad, Mohammad Faisal & Tarba, Shlomo Yedidia & Liu, Yipeng & Glaister, Keith W., 2016. "Knowledge transfer and cross-border acquisition performance: The impact of cultural distance and employee retention," International Business Review, Elsevier, vol. 25(1), pages 66-75.
    9. Ly, Kim Cuong & Liu, Hong & Opong, Kwaku, 2017. "Who acquires whom among stand-alone commercial banks and bank holding company affiliates?," International Review of Financial Analysis, Elsevier, vol. 54(C), pages 144-158.
    10. Wang, Daojuan & Hain, Daniel S. & Larimo, Jorma & Dao, Li T., 2020. "Cultural differences and synergy realization in cross-border acquisitions," International Business Review, Elsevier, vol. 29(3).
    11. Xi He, 2012. "Two Sides of a Coin: Endogenous and Exogenous Effects of Corporate Diversification on Firm Value," International Review of Finance, International Review of Finance Ltd., vol. 12(4), pages 375-397, December.
    12. Gärtner, Dennis L. & Schmutzler, Armin, 2009. "Merger negotiations and ex-post regret," Journal of Economic Theory, Elsevier, vol. 144(4), pages 1636-1664, July.
    13. Feiqiong Chen & Qiaoshuang Meng & Fei Li, 2017. "How resource information backgrounds trigger post-merger integration and technology innovation? A dynamic analysis of resource similarity and complementarity," Computational and Mathematical Organization Theory, Springer, vol. 23(2), pages 167-198, June.
    14. Vojislav Maksimovic & Gordon Phillips, 2005. "The Industry Life Cycle and Acquisitions and Investment: Does Firm Organization Matter?," Working Papers 05-29, Center for Economic Studies, U.S. Census Bureau.
    15. Mohamed-Larbi Aribou, 2017. "Fusions-acquisitions et création de valeur : Bilan des recherches et perspectives d'évolution," Post-Print hal-01468250, HAL.
    16. Gopesh Anand & John Gray & Enno Siemsen, 2012. "Decay, Shock, and Renewal: Operational Routines and Process Entropy in the Pharmaceutical Industry," Organization Science, INFORMS, vol. 23(6), pages 1700-1716, December.
    17. Stefan Henningsson & Christian Øhrgaard, 2016. "IT Consultants in Acquisition IT Integration," Business & Information Systems Engineering: The International Journal of WIRTSCHAFTSINFORMATIK, Springer;Gesellschaft für Informatik e.V. (GI), vol. 58(3), pages 193-212, May.
    18. van Lelyveld, Iman & Knot, Klaas, 2009. "Do financial conglomerates create or destroy value? Evidence for the EU," Journal of Banking & Finance, Elsevier, vol. 33(12), pages 2312-2321, December.
    19. Katrin Hussinger, 2012. "Absorptive capacity and post-acquisition inventor productivity," The Journal of Technology Transfer, Springer, vol. 37(4), pages 490-507, August.
    20. Michel A. Habib & Ulrich Hege & Pierre Mella-Barral, 2013. "Entrepreneurial Spawning and Firm Characteristics," Management Science, INFORMS, vol. 59(12), pages 2790-2804, December.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:tkp:ijsrsy:v:1:y:2012:i:2:p:103-122. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Maks Jezovnik (email available below). General contact details of provider: http://www.toknowpress.net/journals .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.