Comparing critical success factors between European M&As in China and Chinese M&As in Europe: A mixed-method analysis

Yu Chen, Herbert Werle, Roger Moser

Research output: Contribution to journalArticlepeer-review

6 Citations (Scopus)


Purpose: The purpose of this paper is to compare the critical success factors (CSFs) between two groups of European mergers and acquisitions (M&As) in China and Chinese M&As in Europe.
Design/methodology/approach: In the paper, a mixed-method research design which combines primary case study with secondary questionnaire survey is applied.
Findings: The findings from the case study show the main differences with respect to CSFs between the two groups are related to: importance of relationship building in Chinese culture, Chinese culture trait of high power distance, Chinese decision process, complicated Chinese approval process for foreign companies doing M&As in China, integration of acquired Chinese/European company, and relatively new phenomenon of Chinese acquisitions in Europe. The Mann-Whitney-Wilcoxon test from the questionnaire survey provides statistical support for significant difference between the two groups regarding the factor of involvement and commitment of acquiring companies’ entrepreneurial CEO/chairman in the M&A process.
Originality/value: This paper is among the first attempts to conduct a comparative study which provides new insights into the differences between the CSFs in European M&As in China and in Chinese M&As in Europe.
Original languageEnglish
Pages (from-to)1217-1236
Number of pages20
JournalJournal of Organizational Change Management
Issue number7
Publication statusPublished - 14 Nov 2016
Externally publishedYes


  • China
  • Critical success factors
  • Europe
  • Cross-border mergers and acquisitions
  • Mixed-method research design


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