Taking two to tango: A comparative nationalism view of cross-border acquisitions |
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| Institution: | 1. Department of Management and International Business, University of Auckland, Auckland 1010, New Zealand;2. School of Management, RMIT University, Melbourne, VIC 3000, Australia;1. School of Economics, Ocean University of China, Shandong, China;2. Institute of Marine Development of Ocean University of China, Shandong, China;3. China Business Working Capital Management Research Center, China;4. University of Groningen, Groningen, the Netherlands;5. CESifo, Munich, Germany;1. National Research Base of Intelligent Manufacturing Service. Chongqing Technology & Business University Chongqing 400067, China;2. Management. Haub School of Business. Saint Joseph’s University. Philadelphia, PA 19131, USA;1. Asper School of Business, University of Manitoba, 181 Freedman Crescent, Winnipeg MB R3T 5V4, Canada;2. Faculty of Business Administration, Lakehead University, 955 Oliver Road, Thunder Bay, ON P7B 5E1, Canada;1. Middlesex University, The Burroughs, London, NW4 4BT, United Kingdom;2. University of Surrey, Stag Hill, Guildford, GU2 7XH, United Kingdom |
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| Abstract: | Nationalism is an important yet underexplored issue in the international business strategy literature. As a new reality, the resurgence and augmentation of nationalism in recent decades has brought disruption effects that challenge traditional arguments on the international expansion of multinational enterprises (MNEs). We suggest that nationalism is not merely about one’s own national interest but should be extended to consider the mutual forces from home and host countries in international business (IB) research. This study proposes a comparative nationalism view to investigate the impacts of various types of intercountry nationalism on MNEs’ expansion through cross-border acquisitions. Through scenario analysis, the MNEs’ expansion trajectories are characterized by different degrees of comparative nationalism, including incremental expansion, deceleration, leapfrogging, and divestment strategies. Our findings and propositions create a new vision for cross-border research considering the interacting effect of national sentiments. We also discuss promising future research agendas enabling further exploration of this topic. |
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| Keywords: | Comparative nationalism Cross–border acquisitions International expansion trajectory MNEs Scenario analysis |
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