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The effect of mergers on the retention and the performance of managers through a comparative analysis of merger and non‐merger job changes is investigated. For the sample of 196 managers surveyed changes in managerial performance during a merger were no different from those occurring during other transitions. The incidence of managerial departures from organisations was significantly greater after mergers than on other occasions. These results which are among the first to document systematically the comparative effects of organisational mergers are discussed in the light of existing anecdotal evidence.

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