{"title":"Home country influence in cross-border mergers and acquisitions by emerging market firms: a systematic review","authors":"Geer He, Ivar Padrón-Hernández","doi":"10.1108/mbr-09-2023-0156","DOIUrl":null,"url":null,"abstract":"<h3>Purpose</h3>\n<p>Emerging market firms (EMFs) are increasingly expanding their global presence through cross-border mergers and acquisitions (CBMAs). While such deals are distinct from those by advanced market firms, there is a need for a comprehensive understanding of how emerging home markets form this distinctiveness. This study aims to remedy this gap.</p><!--/ Abstract__block -->\n<h3>Design/methodology/approach</h3>\n<p>The authors conduct a systematic literature review of 84 empirical papers. Through a broad search string and seven exclusion criteria, the authors carefully select studies on country-level home factors of CBMAs by EMFs.</p><!--/ Abstract__block -->\n<h3>Findings</h3>\n<p>After summarizing paper volumes, journals and context factors of home/host countries and industries, the authors highlight different strands of institutional theory as the prevailing perspective and pre-M&A issues as the foremost theme. CBMAs by EMFs are influenced by distinct home-exclusive factors, and the mechanisms linking home-country factors to CBMAs by EMFs show significant inconsistencies across studies.</p><!--/ Abstract__block -->\n<h3>Originality/value</h3>\n<p>This review focuses on home country influence and thus goes beyond general characteristics of CBMAs by EMFs. The authors highlight more diverse types of home country factors and CBMA outcomes and, more importantly, take a closer look at involved mechanisms. Doing so, the authors identify gaps and disparities that have limited the understanding of home country influence in CBMAs by EMFs. To correct this, the authors offer a comprehensive roadmap for future research, contributing to EMF studies in particular and CBMA and international business research in general.</p><!--/ Abstract__block -->","PeriodicalId":46630,"journal":{"name":"Multinational Business Review","volume":"36 1","pages":""},"PeriodicalIF":2.2000,"publicationDate":"2024-06-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Multinational Business Review","FirstCategoryId":"91","ListUrlMain":"https://doi.org/10.1108/mbr-09-2023-0156","RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"BUSINESS","Score":null,"Total":0}
引用次数: 0
Abstract
Purpose
Emerging market firms (EMFs) are increasingly expanding their global presence through cross-border mergers and acquisitions (CBMAs). While such deals are distinct from those by advanced market firms, there is a need for a comprehensive understanding of how emerging home markets form this distinctiveness. This study aims to remedy this gap.
Design/methodology/approach
The authors conduct a systematic literature review of 84 empirical papers. Through a broad search string and seven exclusion criteria, the authors carefully select studies on country-level home factors of CBMAs by EMFs.
Findings
After summarizing paper volumes, journals and context factors of home/host countries and industries, the authors highlight different strands of institutional theory as the prevailing perspective and pre-M&A issues as the foremost theme. CBMAs by EMFs are influenced by distinct home-exclusive factors, and the mechanisms linking home-country factors to CBMAs by EMFs show significant inconsistencies across studies.
Originality/value
This review focuses on home country influence and thus goes beyond general characteristics of CBMAs by EMFs. The authors highlight more diverse types of home country factors and CBMA outcomes and, more importantly, take a closer look at involved mechanisms. Doing so, the authors identify gaps and disparities that have limited the understanding of home country influence in CBMAs by EMFs. To correct this, the authors offer a comprehensive roadmap for future research, contributing to EMF studies in particular and CBMA and international business research in general.
期刊介绍：
Multinational Business Review publishes high quality and innovative peer-review research on the strategy, organization and performance of multinational enterprise (MNE), international business history, geography of international business, and the impact of international business on economic growth and development. The journal encourages papers that are cross-disciplinary in nature, and that address new and important issues in international business. Multinational Business Review also promotes research on under-represented regions such as Africa, Central and Eastern Europe, Latin America, and South East Asia and their MNEs, as well as under-studied topics such as the role of trade, investment and other public policies. Specific topics of interest include innovation and entrepreneurship in an international context; corporate governance and ownership; social, environmental and political risk; the role of multilateral institutions; and the nature of emerging market multinationals. The title seeks strong conceptual studies, contributing to the advancement of theories and frameworks, and sound empirical work, whether qualitative or quantitative, suggesting managerial, economic or government policy recommendations. The journal encourages replication studies that contribute to our understanding of the reliability and validity of current knowledge. Finally, Multinational Business Review welcomes proposals for perspectives pieces that offer critical and challenging viewpoints; surveys of the literature particularly those that use new and innovative bibliometric methods; and special issues on topics of relevance to Multinational Business Review.
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