F53 - International Agreements and Observance; International OrganizationsReturn

Mergers and acquisitions (M&As) play an increasingly important role in the expansion of Chinese companies in the European market. The article aims to analyze the largest, in terms of value, M&As conducted by Chinese companies between 2005 and 2015 in the energy sector, in order to present the main premises and consequences of such agreements. For this purpose, the assessment was made based on case studies conducted by the Author, as well as the opinions of experts specializing in the business models of Chinese enterprises, derived from qualitative interviews. Specialized literature on the discussed forms of international expansion of Chinese enterprises was also used. Based on the case study method, analysis of the agreements shows that decisions on conducting M&As are strongly influenced by the adopted strategic directions of the companies’ development, their desire to develop a competitive position on the market and improve their financial condition. The effects, in turn, were addressed, taking into account the dimensions of the strategic and tactical importance for companies.

Internationalization has different connotations for different social sciences and its social, economic and cultural impacts have been examined by a number of studies. While firms' internationalization processes have been understood as being dynamic, the concept of international readiness has rarely been the main focus of research efforts, which until a decade ago, focused principally on explaining sequences of entry modes and choices of markets. The emergence of the study of international entrepreneurship has enhanced the role of readiness. This study reviews the concept of international readiness by experimental and theoretical studies. Axioms in this research are based on content analysis. The framework incorporates measures to evaluate SMEs' international readiness. The paper concludes with a research agenda as a guide for future work on considering the readiness as a critical phase before the internationalization process.