Emerging market firms’ acquisitions in advanced markets: Matching strategy with resource-, institution- and industry-based antecedents

SummaryThis study draws upon the resource-based view and the institution-based view of the firm to provide a comprehensive overview of how different resource-, institution- and industry-based antecedents affect the motivations guiding the acquisitions that emerging market firms undertake in advanced markets. These antecedents can influence emerging market firms’ capacities to absorb or exploit technological and/or marketing advantages in advanced markets. In order to be successful, emerging market firms have to undertake those upmarket acquisitions that best “fit” their antecedents. Four mutually exclusive acquisition strategies are derived, which are then illustrated using examples of Indian firms’ acquisitions in advanced markets.