Theoretical foundations of cross-border mergers and acquisitions: A review of current research and recommendations for the future

By Katsuhiko (Katsu) Shimizu, Michael A. Hitt, Deepa V., Vincenzo Pisano. 2004

818 citations recorded by the source corpus.

Subfields: Accounting, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/1704a4987daf9885bbc6399dbf1c253e5aa95deb

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Citations in the corpus

Greenfield or acquisition entry: A review of the empirical foreign establishment mode literature (2007, background): “More theoretical contributions in this area, especially those focusing on the complementary resources and capabilities of local firms (Shimizu et al., 2004), are therefore called for.”
Do multinationals really prefer to enter culturally distant countries through greenfields rather than through acquisitions? The role of parent experience and subsidiary autonomy (2007, background): “There is considerable research on the determinants of the choice by MNEs between expanding abroad through greenfields or acquisitions (for reviews, see Datta et al., 2002 and Shimizu et al., 2004).”
Do international acquisitions by emerging-economy firms create shareholder value? The case of Indian firms (2010, result): “Evidence on international or cross-border acquisitions as a value-accretive strategy is mixed and inconclusive (Reuer, Shenkar, & Ragozzino, 2004; Seth et al., 2002; Shimizu et al., 2004; Tuch & O’Sullivan, 2007).”
Cross-Border M&As by Chinese Firms: An Analysis of Strategic Motivation and Performance (2008, background): “Shimizu et al. (2004) endorses this view by suggesting that firms may engage in M&As in order to exploit intangible assets.”
Cross-border acquisitions and firm value: An analysis of emerging-market multinationals (2009, background): “1For a detailed discussion of the risks associated with M&As, see Shimizu et al. (2004).”
Emerging Markets as Learning Laboratories: Learning Behaviors of Local Firms and Foreign Entrants in Different Institutional Contexts (2005, background): “When the cultural distance between the foreign firm’s home country and the emerging market country is high, the foreign firm may sometimes struggle to understand how to navigate effectively in that culture ( Shimizu, Hitt, Vaidyanath & Pisano, 2004 ).”
Toward a learning-based view of internationalization: The accelerated trajectories of cross-border learning for latecomers (2010, background): “Framed from TVP, we posit that the M&A by more ambitious MNE latecomers in the more developed markets at the intermediate stages are largely exploratory in nature, while the M&A by less ambitious MNE latecomers in the less developed markets at the later stages are primarily exploitative in nature.”
Cross-Border M&As and Innovative Activity of Acquiring and Target Firms (2016, background): “…M&As can be quite different from those for greenfield investments.9 Cross-border M&As can, for instance, be conducted to access the complementary firm-specific assets of 8 The literature on cross-border M&As from the perspctive of the management literature is surveyed in Shimizu et al. (2004).”
M&A and innovation: The role of integration and cultural differences—A central European targets perspective (2016, neutral): “(Shimizu et al., 2004).”
State ownership, institutional effects and value creation in cross-border mergers & acquisitions by Chinese firms (2015, neutral): “implications for the mergers and acquisition literature in that evidence of CBM&A as a value-accretive strategy is mixed and inconclusive (Markides & Itnner; Moeller, Schlingemann, & Stulz, 2004; Morck & Yeung, 1991; Shimizu et al., 2004; Seth, Song, & Pettit, 2002).”
Cultural differences and capability transfer in cross-border acquisitions: the mediating roles of capability complementarity, absorptive capacity, and social integration (2007, neutral): “(Olie, 1994; Vaara, 2003; Aguilera and Dencker, 2004; Shimizu et al., 2004).”