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ttention should be given to their feelings, hence morale always, as is this is kept high, they are bound to give more commitment to the cause of the merger.

SUGGESTION FOR FUTURE RESEARCH

The researcher hereby advises future researchers to explore the following issues:

The impact of trade union activities on employees' morale.

The impact of personnel practices on employees' morale.

The impact of production practices on employees' morale.

The impact of marketing practices on employees' morale.

The impact of management style on employees' morale.

These suggested research areas will go a long way in clarifying some of the other relevant issues which constitute factors that have impacts on employees' morale.

References

Books:

Besanko B. et al, (2004), Economics of Strategy, Third Edition. John Wiley and Sons Inc.

DePamphilis D. (2005), Mergers, Acquisitions, and Other Restructuring Activities. Third Edition. Elsevier Inc.

Devine M. (2002). Successful Mergers; getting the people issues right. The Economist.

Ferguson S. (2003), Financial Analysis of M & A Integration. McGraw-Hill.

Harvard Business Review on Mergers and Acquisitions. (2001). Harvard Business School Press.

Frankel M. E. S. (2004), Mergers And Acquisitions Deal-Makers; building a winning team. 2nd Edition. John Wiley and Sons Inc.

Gertsen C. M. et al (1998), Cultural Dimensions of International Mergers And Acquisitions. Walter de gruyter.

Schneider S. C. and Barsoux J. (2002), Managing across cultures. 2nd Edition. Prentice Hall.

Sudersanam, S. (2003), Creating Value from mergers and Acquisitions. The Challenges. Pearson Education Limited.

Thaler, R. H, (1992), The Winner's Curse: Paradoxes and Anomalies in Economic Life. Princeton University Press.

Journals and Articles:

An article by McKinsey On Finance, Issue 24, Summer 2007

Frank Holmes. (2006), '2006: a year of mergers and acquisitions', The Western Mail, December 22.

Frank R. and Burton T., (1997), 'culture clash causes anxiety for Pharmacia & Upjohn inc.', Wall Street Journal, February 4.

Kenneth H. W., (1991)'Merger mania: Human and economic effects', Review of Bunsiness, June 22.

Korman, A.K., (1970), 'Toward a hypothesis of work behaviour', Journal of Applied Psychology, Vol. 52 pp.484-90.

Michael Wolf, (2002), 'Here comes another wave of media mergers', The Wall Street Journal. February 21.

Schein E. H, (1992), 'Organisational Culture and Leadership', The International Journal of Human Resource management.

The International Labour Organisation (ILO) report on the employment effects of mergers and acquisitions in commerce, 2003.

APPENDIX 1

Proposed Research Aims:

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