I am currently writing my masters thesis on a multi national corporation that went through a merger in 2011 and an acquisition in 2016. I wanted to use the path dependency theory, from the perspective of the employees in a subsidiary company, as my theoretical framework by presenting the Merger in 2011 as the starting point, the changes that were made afterwards as actions triggering subsequent  more narrow choice of actions until it was reached to a point of lock in. At the end, I want to examine how this lock in affected retention rates of employees during the following acquisition in 2016. The set of actions that I wanted to include, which led to this lock in, are for example further specialization of the subsidiary company, removal of employee training programs, introduction of inefficient practices and activities, etc. Furthermore, I want to see how this lock in affected the employees' commitment to the company, for example - the further specialization of the subsidiary company in specific functions is limiting the career prospects for employees, which reduces the commitment. And as a final to see how this path dependency which has been created after the first merger, affected the employee retention rates during the following acquisition.  I am not sure however, whether this is doable and whether I am able to use the path dependency theory in such a way. 

My question is: Is such a project feasible? If not, in what way can I use the path dependency theory for the context of M&As? 

Or what other theoretical frameworks can be used to study the experience of employees from M&As, and its effect on the success of subsequent M&As?