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The purpose of this study is to test a model for cross-border technological acquisitions (CBTAs) focusing on the level of ownership acquired in the target firm and the acquiring firm's post-acquisition innovation performance (PAIP), with the degree of integration as a mediator, based on the dynamic capability perspective of the resource-based view. This study further concludes the role of the country-of-origin effect (COE) (when emerging economies' acquiring firms purchase technological resources from developed economies' target firms) on the success of the acquiring firms in CBTAs.

Data on CBTAs initiated by 542 acquiring firms was quantified from four high technology industries from 1995 to 2015 for the empirical investigation of the research hypotheses. Hierarchical fixed year effect negative binomial regression technique was used to analyze the proposed model for the success of CBTAs.

The analysis of the CBTAs confirmed that acquiring firms who opt for a higher level of acquired ownership strategy increase the degree of integration of the target firm's technological resource stock. The level of acquired ownership improves the PAIP of the acquiring firms; however, the degree of integration positively accelerates the relationship between the acquired ownership and the PAIP. Considering the COE, acquiring firms that initiated CBTAs from emerging economies to purchase technological resources from developed economies' targets have firm-specific technological capability holes to execute the integration, which negatively impacts the emerging economies acquiring firm's PAIP.

This study contributes to the CBTAs literature by exploring the enabling role of the degree of integration between the level of acquired ownership and the PAIP of the acquiring firms. Further, this study put forward empirics on the COE of the acquiring firms for their integrative capability to integrate the target firm's resource stock and subsequent innovation performance.

The aim of this research is to explore the behavioral model of Chinese organizational leaders acquiring resources for the development of their organizations under the influence of hierarchically oriented social governance.

The paper compares the differences between Western and Chinese contexts and conducts a grounded multi-case study to explore leadership behavioral model in the Chinese context.

First, the Chinese social governance structure is hierarchically oriented, whereas the Western social governance structure is market oriented. Second, this unique inconformity found in the Chinese organizational leaders as contorted leadership, which refers to the inconsistency between leaders’ cognition and their behavior when acquiring resources for the development of their organizations, is defined. Third, the conflict between leaders’ cognition and behaviors is caused by the social governance mechanism within which leaders are embedded.

The authors have just made a first step to understand contorted leadership in the Chinese context, further researches should pay more attention to exploring the origins, functions and impacts of leaders’ contorted behaviors.

First, leadership is linked with social governance by emphasizing on the core role of social governance in allocating the resources which organizational leaders scramble for. Second, a new kind of leadership –contorted leadership – in the Chinese context that emphasizes on the contradiction between leaders’ cognition and behavior, which deepens the understanding of leadership contextualization, is identified.

The purpose of this paper is to explore how the acquisition experience – an acquiring firm’s experience of acquiring and integrating the resources of an acquired firm – affects the production resource efficiency of the acquiring firm.

The authors used data obtained from US manufacturing industries over the 1992–2014 period. The sample includes 784 acquisitions by 417 firms. The proposed hypotheses were tested through econometric analysis.

Results show that the acquisition experience has a positive association with production resource efficiency. The acquisition experience is most positively associated with acquiring firms’ production efficiency when they successfully accomplished previous performance outcomes. While the literature has recognized the relatedness of acquiring and acquired firms as a contextual moderator, the interaction of the related acquisition and the acquisition experience has no impact on efficiency benefits.

This study enhances the understanding of how prior acquisition experience can be leveraged by acquiring firms to gain efficiency benefits in the manufacturing industry.

Cross‐border mergers and acquisitions present significant opportunities for firms wishing to diversify their activities geographically, learn new knowledge, and gain access to valuable resources. Cross‐border mergers and acquisitions present multiple challenges as well. These include the difficulty of evaluating target firms, cultural and institutional differences, and the liabilities of foreignness among others. We compare acquisitions to enter new markets with other market entry mechanisms (strategic alliances and greenfield ventures), and conclude with suggestions for future research to advance our knowledge of this strategy of increasing importance globally.

The potential for resource combinations to have adverse consequences for acquiring firms is often overlooked in research. However, considering potential inimical resources can explain target and acquiring firm actions across the phases (evaluation, completion, and integration) of an acquisition. The authors outline how managers deal with inimical resources in acquisitions. Specifically, during evaluation, due diligence offers managers from acquiring firms the opportunity to avoid potential inimical resources by abandoning an acquisition. During integration, inimical resources can be dealt with either by limiting integration, or with planned or unplanned divestment. As a result, inimical resources explain observed actions and provide a context for making and improving corporate restructuring decisions.

Drawing upon the eclectic paradigm and the regulative dimension of institutional distance theory, it is posited that to understand a firms’ cross-border merger and acquisition (CBMA) location choices, it is critical to examine the acquirers’ ownership advantages.

Using a sample of CBMAs undertaken by US firms from 1999 to 2015, the paper explores the extent to which acquiring firm ownership advantages – financial and innovation capabilities – influence target firm country selection in relation to regulative distance.

It is shown that acquiring firms with greater innovative capabilities are likely to choose target firms in nations with less regulative distance from their home market; whereas firms with greater financial capabilities target firms in more distant nations.

This paper builds on the important research on CBMA activity, focusing on the largely neglected pre-acquisition resources in relation to the regulative distance between target firms and the acquirer.

This study uses a new, fine-grained, firm-based measure of target resources to investigate the relationship between target resource type and acquirer stock market performance. Our findings suggest that the market punishes acquirers of knowledge-based resources more than those that buy property-based resources due to the perceived uncertainty regarding the value of targets’ knowledge resources. In support of the underlying uncertainty argument, we find that managers announcing knowledge-based mergers provide more information in their press releases than those announcing property-based transactions. While prior studies have suggested that resource relatedness may moderate the resource type and acquisition performance link, our findings do not support either a direct or moderating relationship.

The chapter looks at two recent acquisitions by Chinese companies of German firms operating in the automotive sector. In both cases it was the target firm that initiated the process, intentionally selling to a Chinese strategic investor. The main purpose of the chapter is to examine the main motivations that induce developed country MNEs to deliberately search for a buyer in China.

The chapter uses a case-study approach. Interviews were conducted with the managers that followed the entire process of sale and who were responsible for the search and the selection of a strategic investor in China.

Empirical findings show that major drivers in opting for Chinese investors are the potential synergies generating from resource redeployment, the ability of the acquired firm to maintain its autonomy and the opportunity to expand into the Chinese market.

The cases analysed show that developed country firms may take a proactive role in China in order to address their institutional-based disadvantages and to reduce and eliminate the liability of foreignness they may confront there. What is important is strong core competitiveness on their side, which can ensure their operational autonomy, such as technological leadership and superior quality and solid development. The policy implications are relevant, because in the current particular situation where many companies in Europe turn for sources of capital to emerging market firms, Chinese investors can facilitate target companies’ growth, with a positive impact for the local economy.

The aim of this article is to provide a holistic framework for the acquisition of strategic resources.

The literature dealing with resource creation is reviewed and analyzed from a resource‐based point of view. The major methods of acquiring resources are identified through the literature review and the applicability of the framework proposed is illustrated with an empirical example.

Three ways of acquiring strategic resources are identified – direct investments, organizational processes, and product market positioning. All three ways of acquisition can be intentional or unintentional. Arguments for using this six‐dimension scale are provided through deductive reasoning, literature review, and the empirical example.

The study identifies the six dimensions of strategic resource acquisition. However, integration of these dimensions is not a subject addressed in this study. Cluster analysis of companies according to these dimensions could enhance our understanding of the characteristics of companies regarding resource acquisition.

Whereas previous studies have generally used a single‐theory approach, this study highlights the importance of having a holistic outlook when analyzing resource‐based competitive advantages.

The purpose of this paper is to examine operational-level implementation issues regarding mergers and acquisitions (M&As) in general, and resource combination and integration at the functional marketing level in particular.

The paper introduces four factors (i.e. collaboration, interaction, marketing synergy, and the realignment of marketing resources) that support successful M&A marketing integration and enhance overall M&A performance.

The results indicate that marketing synergy and the realignment of marketing resources contribute significantly to the extent of integration. At the same time, the authors find a significant but negative relationship between the interaction dimension and the speed of integration.

The cultural integration of firms that feature different management styles and organizational cultures has been recognized as a particularly challenging aspect of cross-border M&As. This study explains factors that contribute to effective marketing integration in M&As.