The Moral Side of M&A: Changing Morale Reflecting Moral Change?
Is personnel resistance in deed as dysfunctional as it is assumed to be, in M&A theory? According to Hirschman (1970), voice is more loyal than exit, implying that employees telling their opinion should be understood as a sign of loyalty, rather than a problem. An important aspect of loyalty is its moral basis. Scanning M&A literature, it becomes evident that very little has been written o
