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Internationalization of Chinese firms in Europe

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  • Zhang, Ying

    ()
    (UNU-MERIT)

  • Filippov, Sergey

    ()
    (UNU-MERIT)

Abstract

Since end of the 1990s, the world has been witnessing a phenomenon of internationalisation of Chinese companies. This internationalisation is often understood through FDI inflows, whereby multinational companies establish their presence in a form of subsidiaries overseas. However, lately many companies (and Chinese firms in particular) started to use strategic alliances and M&As as a pair of tools of internationalisation. Despite the growing body of literature on this topic in the context of advanced western economies, use of strategic alliances in the internationalisation of Chinese firms remains an under-researched topic. In the paper we investigate the potential benefits for Chinese companies to internationalise through strategic alliances and M&As, and specifically in comparison to the traditional forms of outward FDI. By using the data from Thomson SDC database, we specifically focus on the Single European market as a new prospective location for Chinese companies and provide a quantitative overview of Chinese firms' alliances as well as M&As in Europe. To illustrate the optimal pattern of internalisation of Chinese firms in Europe, we additionally use a case study of Chinese automotive manufacturer Chery Automobile Co. Ltd.

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Bibliographic Info

Paper provided by United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT) in its series MERIT Working Papers with number 041.

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Date of creation: 2009
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Handle: RePEc:unm:unumer:2009041

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Keywords: strategic alliances; emerging economies; China; Europe; internationalisation;

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References

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  1. Blomström, Magnus & Kokko, Ari, 1996. "Multinational Corporations and Spillovers," Working Paper Series in Economics and Finance 99, Stockholm School of Economics.
  2. Geert Duysters & Jojo Jacob & Charmianne Lemmens & Yu Jintian, 2009. "Internationalization and technological catching up of emerging multinationals: a comparative case study of China's Haier group," Industrial and Corporate Change, Oxford University Press, vol. 18(2), pages 325-349, April.
  3. Duysters, Geert & Saebi, Tina & Dong, Qinqin, 2007. "Strategic Partnering with Chinese Companies: Hidden Motives and Treasures," MERIT Working Papers 034, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
  4. Peter J Buckley & L Jeremy Clegg & Adam R Cross & Xin Liu & Hinrich Voss & Ping Zheng, 2007. "The determinants of Chinese outward foreign direct investment," Journal of International Business Studies, Palgrave Macmillan, vol. 38(4), pages 499-518, July.
  5. Balakrishnan, Srinivasan & Koza, Mitchell P., 1993. "Information asymmetry, adverse selection and joint-ventures : Theory and evidence," Journal of Economic Behavior & Organization, Elsevier, vol. 20(1), pages 99-117, January.
  6. Filippov, Sergey & Saebi, Tina, 2008. "Europeanisation Strategy of Chinese Companies: Its Perils and Promises," MERIT Working Papers 055, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
  7. V.N. Balasubramanyam & David Greenaway, 1992. "Economic Integration and Foreign Direct Investment: Japanese Investment in the EC," Journal of Common Market Studies, Wiley Blackwell, vol. 30(2), pages 175-194, 06.
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Cited by:
  1. Amighini, Alessia & Cozza, Claudio & Rabellotti, Roberta & Sanfilippo, Marco, 2014. "An analysis of Chinese outward FDIs in Europe with firm-level data," CIRCLE Electronic Working Papers 2014/2, Lund University, CIRCLE - Center for Innovation, Research and Competences in the Learning Economy.
  2. Alessia Amighini & Roberta Rabellotti & Marco Sanfilippo, 2011. "China's Outward FDI: An Industry-level Analysis of Host Country Determinants," CESifo Working Paper Series 3688, CESifo Group Munich.
  3. Zhang, Ying & Duysters, Geert, 2010. "Entrepreneurship Development and the Role of Economic Transition in Entrepreneurial Activities in China," MERIT Working Papers 036, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).

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