Behind M&As in China and the United States: Networks, learning, and institutions
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...
| Main Authors: | , , , |
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| Format: | Journal Article |
| Published: |
Springer New York LLC
2011
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| Online Access: | http://hdl.handle.net/20.500.11937/50128 |
| _version_ | 1848758401191903232 |
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| author | Yang, H. Sun, S. Lin, Z. Peng, Mike |
| author_facet | Yang, H. Sun, S. Lin, Z. Peng, Mike |
| author_sort | Yang, H. |
| building | Curtin Institutional Repository |
| collection | Online Access |
| description | 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. |
| first_indexed | 2025-11-14T09:43:24Z |
| format | Journal Article |
| id | curtin-20.500.11937-50128 |
| institution | Curtin University Malaysia |
| institution_category | Local University |
| last_indexed | 2025-11-14T09:43:24Z |
| publishDate | 2011 |
| publisher | Springer New York LLC |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | curtin-20.500.11937-501282017-09-13T15:37:03Z Behind M&As in China and the United States: Networks, learning, and institutions Yang, H. Sun, S. Lin, Z. Peng, Mike 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. 2011 Journal Article http://hdl.handle.net/20.500.11937/50128 10.1007/s10490-009-9188-6 Springer New York LLC restricted |
| spellingShingle | Yang, H. Sun, S. Lin, Z. Peng, Mike Behind M&As in China and the United States: Networks, learning, and institutions |
| title | Behind M&As in China and the United States: Networks, learning, and institutions |
| title_full | Behind M&As in China and the United States: Networks, learning, and institutions |
| title_fullStr | Behind M&As in China and the United States: Networks, learning, and institutions |
| title_full_unstemmed | Behind M&As in China and the United States: Networks, learning, and institutions |
| title_short | Behind M&As in China and the United States: Networks, learning, and institutions |
| title_sort | behind m&as in china and the united states: networks, learning, and institutions |
| url | http://hdl.handle.net/20.500.11937/50128 |