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Global capitalism meets national spirit : Discourses in media texts on a cross-border acquisition

Author

Listed:
  • Eero Vaara

    (EM - EMLyon Business School)

  • Janne Tienari
  • Ingmar Björkman

Abstract

In this article, the authors explore media coverage of a recent acquisitions across national borders. Their starting point is that the media represent a key arena of "discursive strategizing" for actors such as corporate managers. They illustrate and specify how global capitalism, as discourse relying on economic and financial rationale and exemplified here by the acquiring firm's attempts to expand, meets national spirit, exemplified here by the complexity in selling the acquisition target to foreigners. The main contribution of this study lies in identifying how key actors draw on and mobilize rationalistic and nationalistic discourses in public discussion. The analysis illustrates that the same actors can draw on different - even contradictory - discourses at different points in time. Furthermore, different actors - even with opposing objectives - may draw on the same discourse in legitimizing their positions and pursuing specific ends.

Suggested Citation

  • Eero Vaara & Janne Tienari & Ingmar Björkman, 2003. "Global capitalism meets national spirit : Discourses in media texts on a cross-border acquisition," Post-Print hal-02311661, HAL.
    • Handle: RePEc:hal:journl:hal-02311661
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    Citations

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    Cited by:

    1. Nguyen, Pascal & Rahman, Nahid & Zhao, Ruoyun, 2013. "Ownership structure and divestiture decisions: Evidence from Australian firms," International Review of Financial Analysis, Elsevier, vol. 30(C), pages 170-181.
    2. Simon Segal & James Guthrie & Johannes Dumay, 2021. "Stakeholder and merger and acquisition research: a structured literature review," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 61(2), pages 2935-2964, June.
    3. Jørgensen, Lene & Jordan, Silvia & Mitterhofer, Hermann, 2012. "Sensemaking and discourse analyses in inter-organizational research: A review and suggested advances," Scandinavian Journal of Management, Elsevier, vol. 28(2), pages 107-120.
    4. Gebert Persson, Sabine & Lundberg, Heléne & Elbe, Jörgen, 2014. "On the discursive contest of an international M&A relationship development process within financial services," International Business Review, Elsevier, vol. 23(6), pages 1064-1073.
    5. Hossfeld, Heiko, 2018. "Legitimation and institutionalization of managerial practices. The role of organizational rhetoric," Scandinavian Journal of Management, Elsevier, vol. 34(1), pages 9-21.
    6. Yang, Shuai & Wu, Chao, 2021. "Do Chinese managers listen to the media?: Evidence from mergers and acquisitions," Research in International Business and Finance, Elsevier, vol. 58(C).
    7. Reddy, Kotapati Srinivasa, 2015. "The State of Case Study Research in Mergers & Acquisitions: A Review of the Literature in Different Management Streams," MPRA Paper 63939, University Library of Munich, Germany, revised 2015.
    8. Tukiainen, Sampo, 2015. "Sensemaking of managing cultural differences in a Finnish-Polish project," Scandinavian Journal of Management, Elsevier, vol. 31(1), pages 69-83.
    9. Eero Vaara & Philippe Monin, 2010. "A Recursive Perspective on Discursive Legitimation and Organizational Action in Mergers and Acquisitions," Organization Science, INFORMS, vol. 21(1), pages 3-22, February.
    10. Mauricio Marrone & Sascha Lemke & Lutz M. Kolbe, 2022. "Entity linking systems for literature reviews," Scientometrics, Springer;Akadémiai Kiadó, vol. 127(7), pages 3857-3878, July.
    11. Eero Vaara & Janne Tienari, 2011. "On the Narrative Construction of Multinational Corporations: An Antenarrative Analysis of Legitimation and Resistance in a Cross-Border Merger," Organization Science, INFORMS, vol. 22(2), pages 370-390, April.
    12. Abosede Ijabadeniyi & Frank Vanclay, 2020. "Socially-Tolerated Practices in Environmental and Social Impact Assessment Reporting: Discourses, Displacement, and Impoverishment," Land, MDPI, vol. 9(2), pages 1-18, January.
    13. Choi, Soki & Holmberg, Ingalill & Löwstedt, Jan & Brommels, Mats, 2011. "Executive management in radical change--The case of the Karolinska University Hospital merger," Scandinavian Journal of Management, Elsevier, vol. 27(1), pages 11-23, March.
    14. Reddy, Kotapati Srinivasa, 2015. "Determinants of Cross-border Mergers and Acquisitions: A Comprehensive Review and Future Direction," MPRA Paper 63969, University Library of Munich, Germany, revised 2015.
    15. David R. King & Olimpia Meglio & Luis Gomez‐Mejia & Florian Bauer & Alfredo De Massis, 2022. "Family Business Restructuring: A Review and Research Agenda," Journal of Management Studies, Wiley Blackwell, vol. 59(1), pages 197-235, January.
    16. Shi, Wei & King, David R. & Connelly, Brian L., 2021. "Closing the deal: Managerial response to short sellers following M&A announcement," Journal of Business Research, Elsevier, vol. 130(C), pages 188-199.
    17. Reddy, Kotapati Srinivasa, 2015. "Why do Cross-border Merger/Acquisition Deals become Delayed, or Unsuccessful? – A Cross-Case Analysis in the Dynamic Industries," MPRA Paper 63940, University Library of Munich, Germany, revised 2015.

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