Emerging multinationals' strategic asset-seeking M&As: a systematic review

Yanze Liang, Axèle Giroud and Asmund Rygh

International Journal of Emerging Markets, 2021, vol. 16, issue 7, 1348-1372

Abstract: Purpose - Emerging market multinational enterprises (EMNEs) have consolidated their global presence recently, challenging existing international business (IB) theories. One of their most significant characteristics has been the prevalence of strategic asset-seeking (SAS) mergers and acquisitions (M&As) targeting firms in developed countries. Such SAS M&As have been ascribed to the aim of acquiring or augmenting firm-specific advantages, rather than exploiting existing advantages. A literature review is needed to synthesize the growing number of academic studies and to contribute to ongoing theoretical developments on EMNEs' catch-up strategies. Design/methodology/approach - The authors follow a standard systematic literature review approach. The authors collate academic studies on EMNEs' SAS M&As in developed markets published between 2000 and mid-2020, structuring the analysis using the logic of antecedent, process and performance outcomes. Findings - The authors present recent research trends in terms of year, journal, theories and methods. The authors synthesize and analyze existing knowledge on EMNEs' SAS M&As and identify remaining gaps to suggest future research directions. Originality/value - The review contributes by focusing on the key argument of current EMNE research – SAS M&As. By providing the first focused review on this topic, it provides a basis for further research on EMNEs' SAS M&As.

Keywords: Emerging market multinationals; Strategic asset-seeking; Mergers and acquisitions (M&As); Developed countries; Performance; Systematic review (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:eme:ijoemp:ijoem-12-2019-1059

DOI: 10.1108/IJOEM-12-2019-1059

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