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This work is devoted to the issue of mergers and acquisitions, as well as contribution to the discussion about the corporate culture impact on post–merger integration and success of these transactions. The studies have shown relatively high percentage of failure of these transactions caused by underestimating cultural impact in post-merger integration. Foreign surveys are compared with my research realized among companies after M&A transaction and among transaction advisers from the Czech Republic. The results of this comparison indicate that the clash of the corporate cultures represents the one of the threats to the transaction success. Management should assume that people do not like changes and there is necessary to pay enough attention to the corporate culture harmonization.

THE IMPACT OF THE CORPORATE CULTURE ON THE SUCCESS OR THE FAILURE OF MERGERS AND ACQUISITIONS