Zhe SunaEconomics School, Jilin University
Abstract：The focus of this study is on unpacking post-acquisition integration by Chinese multinational enterprises (CMNEs) in developed economies (DEs). Drawing on multiple cases of cross-border mergers and acquisitions (CBMAs), the value of this study lies in the identification of not only objective antecedents underlying the integration, but also subjective contradictions and asymmetries in terms of status and vision between CMNEs and acquired companies. This “grey box” is manifested in both a top-down effortless integration initiated by CMNEs and a bottom-up reverse integration by acquired companies. By linking the pre- and post-acquisition phases, this study builds a new model of post-acquisition integration based on an indigenous Wu Wei paradigm. In so doing, this counterpoises the extant CBMA literature, shifting from acquirer-centric, task and efficiency-focused and rationalistic-based views to the Chinese both-centric, people and harmony focused and “go with the flow” views.
Keywords：CMNEs effortless integration reversion Wu Wei paradigm pre-acquisition post-acquisition
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