Strategic asset-seeking acquisitions by emerging market multinational enterprises and the liability of emergingness

IF 5.9 2区管理学 Q1 MANAGEMENT

Journal of International Management Pub Date : 2024-05-24 DOI:10.1016/j.intman.2024.101157

Xinli Huang , Yanze Liang , Don Webber

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引用次数: 0

Abstract

Emerging market multinational enterprises (EMNEs) often engage in strategic asset-seeking acquisitions to promote innovation catch-up. However, it is unclear why only some EMNEs improve their innovation performance when they face the liability of emergingness (LoE) in overseas markets. To resolve this puzzle, we investigated how EMNEs leverage internal and external LoE to achieve high innovation performance through strategic asset-seeking acquisitions. Application of configurational analysis to data from 162 acquisitions initiated by Chinese multinationals between 2013 and 2017 reveals four scenarios associated with different levels of innovation performance. The results highlight that Chinese multinationals' post-acquisition innovation performance is greater (lower) when both internal and external LoE are low (high), and that entrenched diplomatic relationships are needed to benefit from strategic asset-seeking acquisitions when external LoE is high. Our methodological contribution generates findings that explain variations in EMNEs' innovation performance when pursuing strategic asset-seeking acquisitions, and these findings corroborate the theoretical stance that the effects of strategic asset-seeking acquisitions on innovation performance should be viewed through the lens of the complexities and nuances of LoE.

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新兴市场跨国企业寻求资产的战略性收购与新兴的责任

新兴市场跨国企业（EMNEs）经常进行战略性资产寻求收购，以促进创新赶超。然而，目前还不清楚为什么只有部分新兴市场跨国企业在海外市场面临新兴责任（LoE）时才会提高创新绩效。为了解开这个谜团，我们研究了新兴市场企业如何利用内部和外部的新兴责任，通过战略性资产寻求并购实现高创新绩效。对中国跨国企业在2013年至2017年期间发起的162项收购的数据应用配置分析，揭示了与不同创新绩效水平相关的四种情景。结果表明，当内部和外部LoE都较低时，中国跨国公司收购后的创新绩效较高（较低）；当外部LoE较高时，需要稳固的外交关系才能从战略性资产收购中获益。我们在方法论上的贡献是得出了能够解释新兴市场企业在进行战略性资产寻求型并购时创新绩效差异的结论，这些结论证实了我们的理论立场，即应该从LoE的复杂性和细微差别的角度来看待战略性资产寻求型并购对创新绩效的影响。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of International Management MANAGEMENT-

自引率

9.80%

发文量

审稿时长

81 days

期刊介绍： The Journal of International Management is devoted to advancing an understanding of issues in the management of global enterprises, global management theory, and practice; and providing theoretical and managerial implications useful for the further development of research. It is designed to serve an audience of academic researchers and educators, as well as business professionals, by publishing both theoretical and empirical research relating to international management and strategy issues. JIM publishes theoretical and empirical research addressing international business strategy, comparative and cross-cultural management, risk management, organizational behavior, and human resource management, among others.