Emotions play a crucial role in everybody’s life. They are always present,
they enrich experiences, challenge and make us feel alive. Over the last few
decades, emotions have been studied in different disciplines. Psychologists,
sociologists, anthropologists, philosophers, brain researchers, neurobiologists
and neurophysiologists approached this subject from diverse perspectives
and agreed that emotions strongly influence human thinking
and acting.
While mainstream management literature is still on a ‘rational’ track
that disregards emotions, some recent developments recognize the importance
of addressing emotions in organizations. The same is true for merger
and acquisition (M&A) literature. Day-to-day perceptions confirm that
mergers and acquisitions are highly emotional life events for all those
affected. But only after years of ‘merger mania’, combined with high failure
rates (about 70 per cent of all mergers fail to reach their initial goals), has
the importance of focusing on ‘soft’ issues been acknowledged. Nevertheless,
even within the people-oriented stream of M&A literature, emotions
as such are still underresearched. Emotions are mentioned in the
context of the so-called ‘merger syndrome’, but they are almost never
studied explicitly.
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