Post-acquisition integration of emerging market multinational corporations: a research agenda

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Abstract

Purpose – Mergers and acquisitions being done by emerging market multinational corporations (EMNCs) increasingly attract scholarly attention. However, conclusions concerning the nature and the theoretical underpinnings of EMNCs’ post-acquisition integration vary significantly, calling for an assessment of the state of affairs in this field. This paper aims to critically review the extant studies on EMNC s’ post-acquisition integration and to make a comparison with advanced economy multinational corporations’ (AMNCs’) post-acquisition integration, in order to formulate an agenda for future research. Design/methodology/approach – A sample of papers from twenty-one leading journals in the fields of international business, management, human resource management and strategy published between 1991 and March 2018 are included in the literature review. Qualitative content analysis was conducted. Findings – The topics are clustered into the four themes of strategies and processes, influencing factors, acquisition performance, and antecedents of post-acquisition integration of EMNCs. The literature on EMNCs and AMNCs converges with regard to the broad methodological and theoretical approaches that have been adopted. Yet EMNCs and AMNCs diverge on the detailed strategies and behavioral patterns of post-acquisition integration, mostly as a consequence of country of origin factors. Originality/value – The paper identifies a number of deficiencies within existing research and suggests how they can be addressed in future research. By doing so the paper deepens the argumentation of the third camp in the ‘Goldilocks debate’ (Cuervo - Cazurra, 2012) arguing that the phenomenon of post-acquisition of EMNCs is ‘just right’ for theory extension and development.
LanguageEnglish
Number of pages58
JournalMultinational Business Review
StateAccepted/In press - 28 Jul 2018

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Emerging market multinationals
Multinational corporations
Research agenda
Nature
International business
Agenda
Literature review
Business management
Design methodology
Human resource strategies
Factors
Influencing factors
Content analysis
Argumentation
Human resource management
Mergers and acquisitions
Country of origin

Keywords

  • emerging market multinational corporations
  • mergers and acquisitions (M&A)
  • post-acquisition integration
  • liability of emergingness

Cite this

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title = "Post-acquisition integration of emerging market multinational corporations: a research agenda",
abstract = "Purpose – Mergers and acquisitions being done by emerging market multinational corporations (EMNCs) increasingly attract scholarly attention. However, conclusions concerning the nature and the theoretical underpinnings of EMNCs’ post-acquisition integration vary significantly, calling for an assessment of the state of affairs in this field. This paper aims to critically review the extant studies on EMNC s’ post-acquisition integration and to make a comparison with advanced economy multinational corporations’ (AMNCs’) post-acquisition integration, in order to formulate an agenda for future research. Design/methodology/approach – A sample of papers from twenty-one leading journals in the fields of international business, management, human resource management and strategy published between 1991 and March 2018 are included in the literature review. Qualitative content analysis was conducted. Findings – The topics are clustered into the four themes of strategies and processes, influencing factors, acquisition performance, and antecedents of post-acquisition integration of EMNCs. The literature on EMNCs and AMNCs converges with regard to the broad methodological and theoretical approaches that have been adopted. Yet EMNCs and AMNCs diverge on the detailed strategies and behavioral patterns of post-acquisition integration, mostly as a consequence of country of origin factors. Originality/value – The paper identifies a number of deficiencies within existing research and suggests how they can be addressed in future research. By doing so the paper deepens the argumentation of the third camp in the ‘Goldilocks debate’ (Cuervo - Cazurra, 2012) arguing that the phenomenon of post-acquisition of EMNCs is ‘just right’ for theory extension and development.",
keywords = "emerging market multinational corporations, mergers and acquisitions (M&A), post-acquisition integration, liability of emergingness",
author = "Ying Zhang and Etieno Enang and Harry Sminia",
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N2 - Purpose – Mergers and acquisitions being done by emerging market multinational corporations (EMNCs) increasingly attract scholarly attention. However, conclusions concerning the nature and the theoretical underpinnings of EMNCs’ post-acquisition integration vary significantly, calling for an assessment of the state of affairs in this field. This paper aims to critically review the extant studies on EMNC s’ post-acquisition integration and to make a comparison with advanced economy multinational corporations’ (AMNCs’) post-acquisition integration, in order to formulate an agenda for future research. Design/methodology/approach – A sample of papers from twenty-one leading journals in the fields of international business, management, human resource management and strategy published between 1991 and March 2018 are included in the literature review. Qualitative content analysis was conducted. Findings – The topics are clustered into the four themes of strategies and processes, influencing factors, acquisition performance, and antecedents of post-acquisition integration of EMNCs. The literature on EMNCs and AMNCs converges with regard to the broad methodological and theoretical approaches that have been adopted. Yet EMNCs and AMNCs diverge on the detailed strategies and behavioral patterns of post-acquisition integration, mostly as a consequence of country of origin factors. Originality/value – The paper identifies a number of deficiencies within existing research and suggests how they can be addressed in future research. By doing so the paper deepens the argumentation of the third camp in the ‘Goldilocks debate’ (Cuervo - Cazurra, 2012) arguing that the phenomenon of post-acquisition of EMNCs is ‘just right’ for theory extension and development.

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