Behind M&As in China and the United States : Networks, learning, and institutions
Research output: Journal Publications and Reviews (RGC: 21, 22, 62) › 21_Publication in refereed journal › peer-review
Author(s)
Related Research Unit(s)
Detail(s)
Original language | English |
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Pages (from-to) | 239-255 |
Journal / Publication | Asia Pacific Journal of Management |
Volume | 28 |
Issue number | 2 |
Publication status | Published - Jun 2011 |
Link(s)
Abstract
Few scholars would dispute the argument that mergers and acquisitions (M&As) are different in China and the United States, but we know little about how they differ. This article reports one of the first studies that systematically compares and contrasts how M&As differ in these two countries. While prior research on M&As tends to emphasize economic and financial explanations while treating firms as atomistic actors severed from their institutional and network relations, we develop a new theoretical framework based on relational, behavioral, and institutional perspectives. We not only consider firms as learning actors embedded in network relations, but also compare and contrast their M&A patterns between China and the United States, two distinctive institutional contexts. We find that both a firm's structural hole position and its learning orientation (exploration/exploitation) in alliances have direct and joint impacts on subsequent M&As. Further, such impacts differ across the two countries, due to their institutional disparities. © 2010 Springer Science+Business Media, LLC.
Research Area(s)
- Alliance network, China, Mergers and acquisitions, Network and learning factors, United States
Citation Format(s)
Behind M&As in China and the United States : Networks, learning, and institutions. / Yang, Haibin; Sun, Sunny Li; Lin, Zhiang et al.
In: Asia Pacific Journal of Management, Vol. 28, No. 2, 06.2011, p. 239-255.Research output: Journal Publications and Reviews (RGC: 21, 22, 62) › 21_Publication in refereed journal › peer-review