TY - JOUR
T1 - Chinese overseas M&A
T2 - Overcoming cultural and organisational divides
AU - Spigarelli, Francesca
AU - Alon, Iilan
AU - Mucelli, Attilio
PY - 2013
Y1 - 2013
N2 - This article contributes to the existing knowledge on the difficulties and critical aspects of the post-acquisition phase of an emerging market multinational. To establish the context, a literature review on multinational companies from emerging countries, and specifically on the internationalisation initiatives of Chinese companies, is provided, along with a framework to analyse cultural and management-related differences related to mergers and acquisitions (M&As). This review and framework is followed by a case study of a Chinese M&A in Italy. The case illustrates how Chinese companies use Italy to access Western markets (and strategic logistical services), as well as a wide range of distinct skills/intangible assets, such as brands, know-how and technology, particularly in the manufacturing industries. The findings suggest that while superficial product-portfolio and cost benefits can accrue due to the acquisition, cultural and administrative differences and lack of synergies can prevent the acquirer from fully integrating the intangible assets, particularly human resource talent, of the acquired firm.
AB - This article contributes to the existing knowledge on the difficulties and critical aspects of the post-acquisition phase of an emerging market multinational. To establish the context, a literature review on multinational companies from emerging countries, and specifically on the internationalisation initiatives of Chinese companies, is provided, along with a framework to analyse cultural and management-related differences related to mergers and acquisitions (M&As). This review and framework is followed by a case study of a Chinese M&A in Italy. The case illustrates how Chinese companies use Italy to access Western markets (and strategic logistical services), as well as a wide range of distinct skills/intangible assets, such as brands, know-how and technology, particularly in the manufacturing industries. The findings suggest that while superficial product-portfolio and cost benefits can accrue due to the acquisition, cultural and administrative differences and lack of synergies can prevent the acquirer from fully integrating the intangible assets, particularly human resource talent, of the acquired firm.
KW - Case study
KW - Emerging markets multinationals
KW - Merger and acquisitions
KW - Post-acquisition integration problems
UR - http://www.scopus.com/inward/record.url?scp=84873152808&partnerID=8YFLogxK
U2 - 10.1504/IJTLID.2013.051703
DO - 10.1504/IJTLID.2013.051703
M3 - ???researchoutput.researchoutputtypes.contributiontojournal.article???
AN - SCOPUS:84873152808
SN - 1753-1942
VL - 6
SP - 190
EP - 208
JO - International Journal of Technological Learning, Innovation and Development
JF - International Journal of Technological Learning, Innovation and Development
IS - 1-2
ER -