How configuration theory explains performance growth and ...

Configurational theory emphasizes an archetype or gestalt form in which the causal conditions for a phenomenon to occur are mostly ... SkiptoMainContent Searchin: ThisJournal Anywhere Advancedsearch AsiaPacificBusinessReview Volume28,2022-Issue4 Submitanarticle Journalhomepage 284 Views 0 CrossRefcitationstodate 0 Altmetric ResearchArticle HowconfigurationtheoryexplainsperformancegrowthanddeclineafterChinesefirmscross-borderM&A:usingthefsQCAapproachCongChengaChinaInstituteforSmallandMediumEnterprise,ZhejiangUniversityofTechnology,Hangzhou,ChinaViewfurtherauthorinformation,ZeYangbSchoolofManagement,ZhejiangUniversityofTechnology,Hangzhou,ChinaCorrespondenceyz17858937760@gmail.comViewfurtherauthorinformation,YiningHebSchoolofManagement,ZhejiangUniversityofTechnology,Hangzhou,ChinaViewfurtherauthorinformation&LuluYanbSchoolofManagement,ZhejiangUniversityofTechnology,Hangzhou,ChinaViewfurtherauthorinformation Pages555-578 Publishedonline:24May2021 Downloadcitation https://doi.org/10.1080/13602381.2021.1910900 CrossMark   FullArticle Figures&data References Citations Metrics Reprints&Permissions Getaccess /doi/full/10.1080/13602381.2021.1910900?needAccess=true ABSTRACTABSTRACTMergersandacquisitionsareimportantmechanismsforthegrowthofcorporations,butuptonowtheevidenceandexplanationsforgooddealsandbaddealsaremixed.ThisstudyattemptstoapplyconfigurationtheorytoperceiveandevaluateM&Asholistically–thatis,asacomplexconfigurationofTiming,Environment,andPeople,anideologythatstemsfromancientChinesephilosophersandhasbeenspreadinChinaforthousandsofyears.OverlookingtheinterdependentnatureofthefactorsofTiming,Environment,andPeopleininfluencingM&Ashaslimitedourunderstandingofacquisitionperformance.Throughexaminingthe80largestcross-borderM&AcasesinChineselistedcompaniesbydealvaluebetween2015and2018,relyingonfuzzy-setmethodologybyusingfsQCA,weinvestigatedifferentconfigurationsthatleadtoperformancechange;theresultrevealstwodifferentconfigurationsthatequifinallyresultinpost-mergerperformancegrowth,andthreethatdecline.Byconstructingatypologyof‘good’and‘bad’deals,wedevelopamid-rangetheoryofM&Aperformancechange.Thus,thecentralcontributionofthisstudyistohelpwiththeformationofacomprehensiveunderstandingofM&As,andtooffernovelmanagerialimplicationsforpractitioners.KEYWORDS:Acquisitionconfigurationcross-borderfsQCAM&AperformanceChinaDisclosurestatementWedeclarethatwehavenofinancialandpersonalrelationshipswithanypeopleororganizationsthatcouldinappropriatelyinfluenceourwork,andthatthereisnoprofessionalorotherpersonalinterestofanynatureorkindinanyproduct,service,and/orcompanythatcouldbeconstruedasinfluencingthepositionpresentedin,orthereviewof,themanuscriptentitled,‘HowConfigurationTheoryexplainsPerformanceGrowthandDeclineafterChinesefirmscross-borderM&A:UsingthefsQCAapproach’.AdditionalinformationFundingThisworkwassupportedbytheNationalNaturalScienceFoundationofChinaunderGrant71772164;72032008;andtheNaturalScienceFoundationofZhejiangProvinceunderGrantLR19G020001.NotesoncontributorsCongChengDr.CongChengisProfessorintheSchoolofSMEsatZhejiangUniversityofTechnology.Hisresearchinterestsincludebigdataanalysis,internationalbusiness,businessecosystem,andSMEsinnovation.HispublicationshaveappearedinJournalofBusinessResearch,InternationalJournalofEntrepreneurialBehaviorandResearch,SustainabilityandotherChineseacademicjournals.ZeYangZeYangiscurrentlypursuinghismaster’sdegreeattheSchoolofManagement,ZhejiangUniversityofTechnology.Hisresearchinterestsincludebusinessintelligence,internationalbusinessandSMEsinnovation.YiningHeYiningHeiscurrentlypursuinghisPhDdegreeattheSchoolofManagement,ZhejiangUniversityofTechnology.Hisresearchinterestsincludeleadership,internationalbusinessandSMEsinnovation.HispublicationshaveappearedinSustainabilityandotherChineseacademicjournals.LuluYanLuluYanispursuingherPhDdegreeattheSchoolofManagement,ZhejiangUniversityofTechnology.Herresearchinterestsincludedigitalinnovation,bigdataanalysisandinternationalbusiness.HerpublicationshaveappearedinseveralChinesejournals. 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