Acessibilidade / Reportar erro

Intellectual capital in mergers and acquisitions: a case study in a world-class financial institution

Capital intelectual em fusões & aquisições: um estudo de caso em uma instituição financeira de classe mundial

Capital intelectual en fusiones y adquisiciones: un estudio de caso en una institución financiera de clase mundial

Abstract

The objective of the research described in this paper was to analyse the implications of the merger between Itaú and Unibanco banks on the Intellectual Capital (IC) of the Itaú Unibanco S/A Bank. The methodology comprised a qualitative and quantitative case study, in a descriptive approach, based on interviews (formal and informal) and questionnaires applied to 225 top managers (directors, superintendents, regional managers and commercial general managers) originated from these two banks. The research was complemented with direct observation and documental analysis. The following results were found after the merger: (i) improvements were noted in all analysed indicators on the constituent elements of the IC (human capital, structural capital and relational capital), (ii) Itaú Unibanco S/A Bank created, developed and acquired knowledge and know-how, and (iii) these factors influenced corporative IC, supporting improvements in processes, systems, technology, brands, products and mainly in people, corporate image and the relationship of the company with the market, promoting significant financial results.

Keywords:
Strategy; Mergers and acquisitions; Knowledge management; Intellectual capital; Value generation

Departamento de Administração da Faculdade de Economia, Administração e Contabilidade da Universidade de São Paulo Avenida Professor Luciano Gualberto, 908, sala F184, 05508-900 São Paulo / SP Brasil, Tel./Fax 55 11 3818-4002 - São Paulo - SP - Brazil
E-mail: rausp@usp.br