How do entry motives and institutions influence the acquisition strategies of multinationals in Foreign Markets? Lessons from Acquisitions of Finnish Multinationals in global markets.

Nnamdi Oguji*

*Corresponding author for this work

Research output: Contribution to journalArticleAcademicpeer-review


When acquiring foreign targets, multinationals have an option for partial acquisition, staged acquisition, and full acquisition. This study seeks to understand how the motives of market entry and institutions influence these acquisition strategies in foreign markets. By integrating OLI paradigm and institutional theory with an empirical case study of seven acquisitions of Finnish multinationals in global markets, the study finds that the motives of market entry (i.e., market-seeking, efficiency-seeking, strategic-asset-seeking motives) interact with host country institutions in influencing the choice of partial, staged, and full acquisitions. The study also develops six propositions and recommends areas for future research.
Original languageEnglish
Pages (from-to)81–107
Number of pages27
JournalJournal of East West Business
Issue number4
Publication statusPublished - 12-Feb-2018
Externally publishedYes


  • Acquisition strategies
  • entry motives
  • full acquisition
  • institutional theory
  • partial acquisition
  • stage acquisition

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