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Emerging Market MNCs' Cross-Border Acquisition Completion: Institutional Image and Strategies

He, X.; Zhang, J.

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Authors

J. Zhang



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.

Citation

He, X., & Zhang, J. (2018). Emerging Market MNCs' Cross-Border Acquisition Completion: Institutional Image and Strategies. Journal of Business Research, 93, 139-150. https://doi.org/10.1016/j.jbusres.2018.04.014

Journal Article Type Article
Acceptance Date Apr 15, 2018
Online Publication Date Apr 26, 2018
Publication Date Dec 1, 2018
Deposit Date Apr 26, 2018
Publicly Available Date Oct 26, 2019
Journal Journal of Business Research
Print ISSN 0148-2963
Publisher Elsevier
Peer Reviewed Peer Reviewed
Volume 93
Pages 139-150
DOI https://doi.org/10.1016/j.jbusres.2018.04.014
Keywords emerging-market multinational company, institutional image, foreign acquisition completion, country of origin, home base, FDI location
Public URL https://durham-repository.worktribe.com/output/1333385

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