Do All Emerging‐Market Firms Partner with Their Acquisitions in Advanced Economies? A Comparative Study of 25 Emerging Multinationals’ Acquisitions in France

Morgan Marchand, Thunderbird International Business Review, 2017, 59: 297-312.

Emerging multinationals’ acquisitions in advanced economies are a growing phenomenon that remains relatively unexplored. Although there is now a consistent body of knowledge concerning multinationals from major emerging countries such as China, empirical data encompassing a larger array of countries of origin are still lacking. This article contributes to a better, contextualized understanding of commonalities and differences among emerging multinationals in terms of how they manage their developedregionbased acquisitions. Adopting a comparative international management perspective, we discuss recurrent hypotheses about such multinationals’ management styles (e.g., their partnering or lighttouch integration approach following upmarket acquisitions) with empirical data on acquisitions in France by multinationals from 13 countries. While confirming some hypotheses, we refine the definition of the partnering approach and identify a new, previously overlooked integration mode. We also discuss the antecedents of integration approaches, highlighting the influence of administrative heritage and contextual factors on emerging multinationals’ international management practices.

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