An explanatory research to determine the success factors of the Halkbank-Pamukbank merger

Abstract

It is not quite possible to claim that the factors behind the success or failure of mergers or takeovers have been subject to sufficient analysis in Turkey although such endeavors have been gaining an observable impetus. To rectify this absence in the literature, the marriage between Halkbank and Pamukbank has been investigated with an inquisitive approach and a theoretical frame is proposed to constitute a basis for ensuing studies. Semi-structured interviews arranged with 4 top-level executives and findings were analyzed in accordance with the grounded theory developed by Glasner and Strauss (1967). As a result of evaluation conducted within this framework, a set of factors, sometimes contradicting each other, such as staff focusing, top-executive leadership, quick decision making, project organization, function based structure, authority transfer, detailed planning, centralized control, and massive communication,, with each other are observed to be influential in the outcomes of mergers.