Post-acquisition integration strategies of Chinese multinational enterprises : a longitudinal multi-case study

Drawing on an eight-year longitudinal multi-case study of eight strategic asset–seeking acquisitions by Chinese multinational enterprises (CMNEs), this paper explores the evolution of integration and its drivers. Three integration paths are revealed. All start with light-touch integration and morph to different target integration models, either another form of light touch or absorption. A driving system is identified in which strategic intent and catch-up strategies are the guiding drivers, whilst resource dependency and cultural distance are the steering drivers. Even an external shock (i.e., the COVID-19 pandemic) does not distract CMNEs from their strategic intent or target integration model but merely acts as a catalyst for integration. Further, four distinct forms of light-touch integration and three types of EMNEs’ catch-up strategies are identified