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.
Original language | English |
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Pages (from-to) | 1348-1372 |
Number of pages | 25 |
Journal | International Journal of Emerging Markets |
Volume | 16 |
Issue number | 7 |
Early online date | 29 Apr 2021 |
DOIs | |
Publication status | Published - 21 Sept 2021 |
Keywords
- Developed countries
- Emerging market multinationals
- Mergers and acquisitions (M&As)
- Performance
- Strategic asset-seeking
- Systematic review