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Overseas acquisitions by chinese firms

  • Using comprehensive panel data on Chinese acquisitions in Germany in the time period from 2007 to 2016, this thesis investigates the effects of the acquisition on target firm performance and concentrates on some critical issues regarding target top management team turnover and target firm performance as well as acquirer technological capability and target innovation performance. More specifically, the thesis focuses on the following questions: (1) How do acquisitions by emerging-market firms in developed markets influence target post-acquisition firm performance? (2) Do target top management team turnover or target chief executive officer (CEO) turnover have an effect on target post-acquisition firm performance in case of emerging-market acquisitions in developed markets and what is the moderating role of appointing an acquiring firm´s manager as target CEO? (3) How does the acquirer’s technological capability relate to target post-acquisition innovation performance in case of emerging-market acquisitions in developed markets and does prior international acquisition experience of the acquiring firm play a moderating role in this relationship? The theory and findings contribute to the existing literature on emerging-market firms and their investments in developed-market firms and offer some managerial guidelines in managing target post-acquisition success.

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Metadaten
Author:Christina Brunner
URN:urn:nbn:de:hbz:992-opus4-8784
Subtitle (English):value generating or destroying?
Publisher:WHU
Place of publication:Vallendar
Referee:Serden Ozcan, Ayse Karaevli
Document Type:Doctoral Thesis
Language:English
Date of Publication (online):2021/10/21
Date of first Publication:2021/10/21
Publishing Institution:WHU - Otto Beisheim School of Management
Granting Institution:WHU - Otto Beisheim School of Management
Date of final exam:2021/09/02
Release Date:2021/10/21
Tag:Beschaffung; Führungswechsel
Acquisitions; Emerging market; Executive turnover;
Page Number:153
Institutes:WHU Entrepreneurship and Innovation Group / Chair of Innovation and Corporate Transformation
Licence (German):Copyright this PhD thesis