Mergers and acquisitions (M&A) are major events in organizational development and the post-merger phase is widely recognised as being crucial for value creation. One of the most important decisions in this process is the speed of integration. However, despite a growing body of literature on this subject, conclusions remain a source of persistent equivocality. In fact, this debate has been dominated by diametrically opposed, and often highly normative, views advocating either fast or slow post-merger integration (PMI). One commonality within this discussion though, is the shared assumption that integration proceeds at a linear, constant rate, whatever the speed. We challenge this assumption.

We undertook a 30-month, longitudinal study of two merging, not-for-profit, organisations. Using detailed and multiple sources of process data, we were able to identify and track periods of comparatively rapid and equally comparatively slower integration during the two-and-a-half- year PMI process. We thus offer a novel empirical demonstration of the changes in speed during the PMI process. We support this with a theoretical discussion using the temporal concepts of chronos and kairos. We analyse the determinants and mechanisms of changes in speed, asking why and how these variations occur. We call this mechanism the kairotic switch and discuss its theoretical and managerial uses and implications.

并购 (M&A) 是组织发展中的重大事件，而并购后阶段被广泛认为对于价值创造至关重要。此过程中最重要的决策之一是集成速度。然而，尽管关于这个主题的文献越来越多，但结论仍然是持续模棱两可的。事实上，这场争论一直由主张快速或缓慢的并购后整合（PMI）的截然相反且往往高度规范的观点主导。不过，本次讨论的一个共同点是，无论速度如何，积分都以线性、恒定的速率进行。我们挑战这个假设。

我们对两个合并的非营利组织进行了为期 30 个月的纵向研究。利用详细的、多个来源的过程数据，我们能够识别和跟踪两年半的 PMI 过程中相对较快和同样相对较慢的整合时期。因此，我们提供了 PMI 过程中速度变化的新颖实证。我们通过使用chronos和kairos的时间概念进行理论讨论来支持这一点。我们分析速度变化的决定因素和机制，询问这些变化发生的原因和方式。我们将这种机制称为kairotic switch，并讨论其理论和管理用途和含义。