Library Header Image
LSE Research Online LSE Library Services

Brownfield acquisitions: a reconceptualization and extension

Estrin, Saul ORCID: 0000-0002-3447-8593 and Meyer, Klaus (2011) Brownfield acquisitions: a reconceptualization and extension. Management International Review, 51 (4). pp. 483-509. ISSN 0938-8249

Full text not available from this repository.

Identification Number: 10.1007/s11575-011-0088-x


Firms seeking specific complementary resources to pursue their growth strategy in emerging markets may use 'brownfield' acquisitions to provide access to resources that are embedded in existing firms. This strategy requires a fundamental restructuring of the acquired firm to replace many of its resources and organizational structures. In this paper, we review the concept of brownfield acquisition, establish its empirical relevance outside of transition economies, explore its theoretical and empirical antecedents, and discuss its implications for theorizing in international business. Our empirical results based on a six-country survey in emerging markets show that brownfield acquisitions are most likely for projects that are more integrated with the parent's global operations, and where local firms are weak and institutions are strong. The concept provides a focal point for research on the resource-based view by illuminating the process of resource combination in firm growth. It also provides an example of where different aspects of the institutional framework may have contrary effects on various elements of business strategy.

Item Type: Article
Official URL:
Additional Information: © 2011 Gabler Verlag
Divisions: Management
Subjects: H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
Date Deposited: 28 Jul 2011 15:23
Last Modified: 16 May 2024 01:16

Actions (login required)

View Item View Item