Summary:

Since the onset of transition in 1990, mergers and acquisitions have become an important feature of business live in European emerging economies. Initially often related to the privatisation process, a multifaceted pattern of acquisition activity has evolved. Foreign investors acquire local resources, while adapting their strategies to the specific local context. This research investigated in which ways mergers and acquisitions are adapted to the transition context, and how such adaptation influences corporate performance.

The study investigates these issues by combining a questionnaire survey with eleven case studies in Poland, Hungary and Lithuania. It incorporates the post-entry dynamics with respect to changes in control and resource contributions, and thus develops a dynamic perspective of international acquisitions, and a refined acquisition typology. On this basis, implications are derived for managers and policy makers, as well as for future scholarly research on mergers and acquisition in emerging economies.

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Part I: FDI in European Emerging Economies

Chapter 1: Introduction

Klaus Meyer and Saul Estrin

Chapter 2: Institutional Context and FDI Trends in EEE

Camilla Jensen

Chapter 3: The Changing Patterns of Foreign Direct Investment: Survey Insights

Klaus Meyer, Delia Ionasçu, Przemyslaw Kulawczuk, Anna Szcześniak, Zoltán Antal-Mokos, Krisztina Tóth, and Valdonė Darškuvienė

Part II: Acquisitions: Business Strategy and Economic Policy

Chapter 4: Acquisition as an Entry and Growth Strategy

Klaus Meyer

(download sample chapter)

Chapter 5: Synergy Management in Acquisitions

Krisztina Tóth

Chapter 6: M&A in Mobile Telephony: Industry Dynamics

Jamie Anderson and Zoltán Antal-Mokos

Chapter 7: Institutional and Regulatory Barriers to Foreign M&A in Central Europe