Light Touch Goes Where? A Longitudinal Study of the Post-Acquisition Integration Paths Adopted by Chinese Multinational Enterprises
通过八年纵向多案例研究，揭示中国民营企业收购西方企业后，从轻触整合出发演变为不同整合路径的过程，并解释追赶战略、资源依赖和文化差异如何驱动这一演变。
This study explores the evolution of post-acquisition integration drawing on an eight-year longitudinal multi-case study of eight strategic-asset-seeking acquisitions of Western firms by globalizing Chinese private owned enterprises and taking a dual view from both the acquiring and the acquired companies. In contrast to the extant literature, it reveals significant heterogeneity by identifying three differing post-acquisition integration evolution paths. All three start with a form of light-touch integration as proposed by existing research but transition to different target models, either another form of light touch or absorption. A driving system has been developed to explain these differing evolution paths which are largely determined by the catch-up strategy (strategy to catch up with Western incumbents) whilst resource dependency and cultural difference working as the steering drivers for transition. Overall, seven distinct forms of integration (six distinguished forms of light-touch integration plus absorption) and three types of catch-up strategy are identified and explained in this study.