| Knowledge specialization,differentiation,and distribution are increasingly important features of the world.Under this background,there has been an increasing tendency for multinational enterprises from emerging economies(EMNEs)to internationalize and build a cross-geographic,organizational and knowledge boundaries global network to search and integrate worldwide knowledge.During this process,cross-border acquisition is one of the most popular strategies for EMNEs to help them tap into the state-of-the-art knowledge and capabilities,rapidly realize their vision of technological catch-up and capability upgrading.Some of those EMNEs successfully fulfil their ambition and therefore become able to compete against established advanced country competitors.However,facing with the tremendous challenges of liability of origin and identity asymmetries,a majority of EMNEs failed and got stuck in the synergy trap after investing a lot of money and resources.Inspired by this interesting phenomenon,this dissertation thus focus on the core research question:Confronting with the liability of origin,how do EMNEs response to the challenges of identity asymmetries to realize successful integration and effective learning and finally achieve capability catch-up?To answer the above questions,this dissertation systematically designs four sub-researches,intensively discusses the nature and connotation of liability of origin,the distinguished impacts of capability liability and reputation liability on EMNEs,and the underlying micro-mechanisms of how it works.Based on the above fundamental work,this dissertation identifies the strategic choices of how to response to and overcome the liability of origin,depicts the picture of the whole process and learning paths of how EMNEs realize capability upgrading during the process of cross-border acquisitions,therefore proffering the answers to the aforementioned core question.Specifically,this dissertation comes to four main conclusions.(1)Study 1 unfolds with the question "What is the nature and connotation of liability of origin?What is the impact of liability of origin on EMNEs?" First,this study disentangles the construct labiality of origin into two dimensions,namely,an actual capability liability and perceived reputation liability.Specifically,the actual lack of capability can be attributed to the institutional voids situation in emerging economies,which might result in inadequate and limited capability of the firms from emerging economies.The perceived reputation liability refers to the negative image and the inferior status of the emerging economies and the discrimination exerted on the EMNEs from the host country.Based on the deliberate theoretical elaboration,using a sample of Chinese multinationals that have been listed in the Shanghai Stock Exchange and Shenzhen Stock Exchange,this study reveals that the capability liability has no significant negative impact on EMNEs post-acquisition integration whereas the reputation liability significantly impedes the post-acquisition integration performance of EMNEs.However,this above negative impacts can be buffered and mitigated by firms’ prior experiences in the same host country.(2)Study 2 is a case study using a sample of 7 cross-border acquisitions to seek the answer of the second sub-question "How does liability of origin influence EMNEs’post-acquisition integration?" This study comes to the conclusions that the "legitimacy deficit","credibility deficit","capability deficit" caused by liability of origin has organizational heterogeneity,the final and actual impact of liability of origin on EMNEs will be filtered by organizational characteristics,and the "net liability" will finally be epitomized in identity asymmetry between the acquiring and the acquired finns.Furthermore,identity asymmetry will lead to a lack of of partnership legitimacy in the headquarter-subsidiary relationship,exerting burdens and pressure on the process of coordination and organizational learning.In order to response to these pressure and burdens,EMNEs will adopt various integration strategies and coordination mechanisms to deal with the dual-identity issue.And last,this study also finds that the motivation of the acquisition plays an important role of the process.(3)Study 3 presents an integrated framework of "How can EMNEs achieve effective organizational learning and realize their ambition of capability catch-up?"Based on the above two studies,this study adopts an analytical framework from organizational learning theory to comprehensively exam the interrelationships of identity asymmetry,motivation,coordination mechanisms and their impact on EMNEs learning process and capability catch-up.After doing an fsQCA analysis,this study depicts the iterate and dynamic process and paths of EMNEs’ organizational learning in the post-acquisition integration stage,identifies both the successful and unsuccessful learning paths,and reveals the interdependent nature of coordination mechanisms and how these mechanisms interact with the organizational contexts.Moreover,this study also verifies the direct and indirect effects of identity asymmetry on EMNE’s organizational learning,indicating that the effect of identity asymmetry is long lasting and profound in the whole process.(4)Study 4 is designed to answer the question "How does EMNEs realize the organizational identity re-construction after their cross-border acquisitions?" Based on the findings and insights from study 2 and study3,this study holds a dynamic identity perspective to depict a more nuanced picture of organizational identity re-construction process.Emerging from the case materials,this study reveals that the whole proceess of organizational identity re-construction composed of three stages,namely,silence,transition and stability.In addition,this study also identifies two distinct paths of identity re-construction,one is called convergent way and the other is named as absorptive way.Based on these findings,this study is finally able to depict the dynamic co-evolution relationship between organizational identity and organizational strategy and practice.This dissertation has important implications for both theory and practice:(1)This dissertation extends the research on liability of origin.Firstly,this dissertation clarifies the nature and the connotation of liability of origin,and is among the first to directly and empirically investigate the influence of liability of origin on EMNEs.Secondly,this dissertation reveals the underlying mechanisms of liability of origin,thus opening the black box of the process that how liability of origin influences EMNEs,and specifically,the post-acquisition integration process and performance.Finally,this dissertation provides new insights of the strategies to overcome liability of origin by highlighting the missing part of partnership legitimacy in the headquarter-subsidiary relationship.(2)This dissertation contributes to post-acquisition integration literature.Using a dynamic and process-based perspective,this study investigates the whole process of how EMNEs response to and overcome the liability of origin and finally achieve effective learning and capability catch-up,proffering a more nuanced and holistic framework for analyzing how EMNEs success in the cross-border acquisition and the sequent integration process and how to solve the "coordination-autonomy" dilemma.Additionally,by introducing the construct of identity asymmetry,this study emphasize the vital role of identity issues during the process of post-acquisition integration,bridging a link between identity asymmetry and integration strategy choice,therefore appeals to the call of exploring the strategy-identity nexus.(3)This dissertation contributes to organizational learning related research.Using a set-theoretic approach,this dissertation comprehensively examines the mutual interaction between members,tasks,tools and the context where learning occurs,and their interplay on the process of organizational learning and learning effectiveness,thereby extending the exsisitng literature.Moreover,this study also go deep into the mutual engagement between organizational learning and global strategy,building a bridge between research in these two fields,proffering a more nuanced picture of organizational learning in the process of internationlization.(4)This dissertation also has important practical implications.First,the results can prooffer suggestions for latecomer enterprises to identify and overcome the liability of origin when they are sailing internationally,especially when they are entering and operating in the advanced countries.Second,this study also gives EMNEs suggestions of how to design and arrange the coordination mechanisms in order to solve the dilemma of "coordination-autonomy",and how to effectively learn from the acquired partners to realize their motivation of capability upgrading.And last,this study gives policy suggestions to implement "Innovation driven development strategy" and "The’Go globally’ strategy". |
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