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Durham Research Online
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Emerging market MNCs' cross-border acquisition completion : institutional image and strategies.

He, X. and Zhang, J. (2018) 'Emerging market MNCs' cross-border acquisition completion : institutional image and strategies.', Journal of business research., 93 . pp. 139-150.

Abstract

This study investigates the negative effect of the home country’s institutional image on emerging-market multinational companies’ acquisitions, and how these companies can increase their acquisition completion by overcoming this effect. We propose that a foreign acquisition is more likely to be completed if: (1) the acquirer has an extended home base - it has inward internationalization experience, or it acquires through overseas subsidiaries; and (2) it enters institutionally close markets. Using longitudinal data on 13,259 acquisitions between 1996 and 2012 by firms from ten major emerging economies, we empirically test our hypotheses. The findings have important implications for scholars, policymakers and managers.

Item Type:Article
Keywords:emerging-market multinational company, institutional image, foreign acquisition completion, country of origin, home base, FDI location
Full text:(AM) Accepted Manuscript
Available under License - Creative Commons Attribution Non-commercial No Derivatives.
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Status:Peer-reviewed
Publisher Web site:https://doi.org/10.1016/j.jbusres.2018.04.014
Publisher statement:© 2018 This manuscript version is made available under the CC-BY-NC-ND 4.0 license http://creativecommons.org/licenses/by-nc-nd/4.0/
Date accepted:15 April 2018
Date deposited:11 May 2018
Date of first online publication:26 April 2018
Date first made open access:26 October 2019

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