Mergers and acquisitions by Chinese firms: A review and comparison with other mergers and acquisitions research in the leading journals

Hong Zhu, Qi Zhu

Research output: Journal article publicationReview articleAcademic researchpeer-review

49 Citations (Scopus)


In recent years, an increasing number of Chinese firms have been engaged in acquisitions both inside and outside of China. Nevertheless, our understanding of Chinese merger and acquisition (M&A) activity is limited because a majority of M&As in the past 100 years have been performed by firms from developed countries and it is those M&As that have been the focus of prior research. Thus this paper aims to address the following research questions: What are the new insights gained from Chinese M&A research? What are the emerging future directions of Chinese M&A research? To address those questions, this article provides a thorough literature review of the most recent M&A research in top journals and studies of M&As both inside and outside of China. Consequently, we identify both new insights from Chinese M&A research and the research gaps that Chinese M&A research needs to fulfill compared with general M&A research in top journals. We further highlight the important and unique characteristics of Chinese M&As and call for future research.

Original languageEnglish
Pages (from-to)1107-1149
Number of pages43
JournalAsia Pacific Journal of Management
Issue number4
Publication statusPublished - 1 Dec 2016
Externally publishedYes


  • Antecedents and outcomes of M&As
  • Chinese M&As
  • General M&A research
  • Mergers & acquisitions (M&As)

ASJC Scopus subject areas

  • Business and International Management
  • Economics, Econometrics and Finance (miscellaneous)
  • Strategy and Management

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