In meiner wissenschaftlichen Tätigkeit beschäftige ich mich mit dem Einfluss kontextueller Faktoren, wie das kulturelle und politische Umfeld, auf die internationalen Strategien multinationaler Unternehmen, wie internationale Unternehmenskäufe (M&As) und Gemeinschaftsunternehmen (Joint Ventures). Unten befindet sich eine Publikationsliste (mit einer dazugehörigen Zusammenfassung, auf Englisch).


Li., C. forthcoming. Cultural friction in international joint ventures: Whose cultural distance affects market reactions? Journal of Management.

“Two's company, three's a crowd.” Prior work has offered very valuable, but inconclusive findings on cultural distance's influence on international joint venture (IJV) success. This article draws on the cultural friction perspective to examine the performance implications of cultural distance in IJVs. In particular, I distinguish between the cultural distances between focal firm and partner firm, focal firm and IJV, and partner firm and IJV. I find that cultural distance between focal and partner firms negatively influences IJV success, while cultural distance between partner firm and IJV positively affects success.

​Meyer, K. E. & Li., C. forthcoming. The MNE and its subsidiaries at times of global disruptions: An international relations perspective, Global Strategy Journal.

“Long divided, must unite; long united, must divide.” The global economy has recently entered a period of disruptions that include reduced people mobility, divergent national regulatory institutions, and increased anti-globalization populism. We argue that these disruptions will not only create new operational challenges for global strategies and new needs for local adaptation, but may even challenge the legitimacy of global business models. We turn to political science for explanations and find that three paradigms of international relations offer contrarian predictions not only on the big disruptions, but also on the ability of MNEs to influence political processes driving the disruptions.

​Li., C., & Haleblian, J. 2022. The influence of nation-level institutions on acquisition premiums: A cross-country comparative study, Journal of Management, 48(8): 878–904.

“Overpaying in the iron cage.” In this article, we build on neo-institutional theory to examine the effect of nation-level institutions on domestic acquisitions. Specifically, we study in what way premiums are influenced through cognitive, normative, and regulatory forces. We theorize that prior premium decisions of industry peers, the cultural values uncertainty avoidance, future orientation, and in-group collectivism, and a country’s disclosure requirements influence premiums, and we find support for several of the hypotheses.

Li., C., & Gelfand, M. J. 2022. The influence of cultural tightness-looseness on cross-border acquisition performance, Journal of Economic Behavior & Organization, 195: 1–15.

“Culture is tight.” This article examines how differences in the strength of social norms—or tightness-looseness—across countries explain the performance of cross-border acquisitions. We find that a one standard deviation increase in tightness-looseness difference is associated with a decrease in acquirer’s average return on assets equivalent to 245 million US dollars in net income. We further document that this effect is particularly pronounced when the acquirer's country is tighter than that of the target, at greater levels of tightness, and in high-tech industries.

Li., C., & Reuer, J. R. 2022. The impact of corruption on market reactions to international strategic alliances, Journal of International Business Studies, 53(1): 187–202.

"Corruption does not pay." Drawing on institutional theory, we argue that the level of corruption in an alliance partner’s country negatively affects the market reaction to a focal firm’s international strategic alliance announcement, as corruption creates uncertainty regarding the behavior of the partner firm. Analyses of over one thousand international strategic alliance announcements involving firms from 30 countries furnish evidence consistent with our theory and further reveal that the effect is influenced by anti-bribery laws and a firm's previous experience in corrupt countries.

Li., C., Shenkar, O., Newburry, W., & Tang, Y. 2021. How country reputation differentials influence market reaction to international acquisitions, Journal of Management Studies, 58(6): 1609–1639.

"Countries have reputations that affect your business." This study extends the reputation construct to countries. Building on social identity theory, we argue that a country's reputation affects market reaction to international acquisitions, as a country’s reputation imprints on its firms. Thus, firms from countries with better reputations are perceived as having superior capabilities and reputation differences suggest that the acquirer is able to identify undervalued targets and leverage synergies. We find support for a sample of 4,792 acquisitions.

Meyer, K. E., Li, C., & Schotter, A. P. J. 2020. Managing the MNE subsidiary: Advancing a multi-level and dynamic research agenda, Journal of International Business Studies, 51(4): 538–576.

"Subsidiaries are organizations too." In this literature review, we identify and organize theoretical and empirical research on subsidiary management based on over 600 articles in leading academic journals. We develop a conceptual framework that integrates complementary streams of theoretical and empirical research with the subsidiary as its focal unit of analysis. We further explore future research agendas that examine subsidiary management’s operations in the face of disruptions in the political and institutional environment.

Li, C., Arikan, I., Shenkar, O., & Arikan, A. 2020. The impact of country-dyadic conflicts on market reaction to cross-border acquisitions, Journal of International Business Studies, 51(3): 299–325.

"The past... it's not even past." This paper builds on intergroup relations research to examine the impact of the international relations context on market reaction to cross-border acquisitions. Drawing on a sample that comprises 7,321 acquisitions between 1988 and 2011, we find that past military conflicts reduce acquirer returns following acquisition announcements while factors such as cultural similarity, colonial ties, and a country’s national pride affect the relationship between prior military conflicts and market reaction to acquisitions.

Gelfand, M. J., Gordon, S., Li, C., Choi, V., & Prokopowicz, P. 2018. One reason mergers fail: The two cultures aren’t compatible, Harvard Business Review, October.

"Beware of culture in M&As." This article uses the cultural tightness-looseness concept to discuss Amazon’s acquisition of Whole Foods, which was met with a lot of fanfare. The deal would allow Amazon to grow beyond e-commerce and sell groceries in hundreds of stores while collecting significant shopper data. Meanwhile, Whole Foods could lower its prices and scale up after its recent declines in sales. However, differences in cultural tightness-looseness have caused friction following the acquisition.

Li, C., Isidor, R., Dau, L., & Kabst, R. 2018. The more the merrier? Immigrant share and entrepreneurial activities, Entrepreneurship: Theory & Practice, 42(5): 698–733.

"Immigrants, what are they good for?" This paper examines the relationship between immigrants and entrepreneurial activities in a country. Building on knowledge spillover theory of entrepreneurship, we theorize that immigrant share positively relates to the creation, growth, and export activities of new firms through knowledge spillover between immigrant and native communities. We further propose that favorable attitudes of natives toward immigrants positively moderate this relationship. Using data for 32 countries, we find support for the hypotheses.

Li, C., Brodbeck, F. C., Shenkar, O., Ponzi, L., & Fisch, J. H. 2017. Embracing the foreign: Cultural attractiveness and international strategy. Strategic Management Journal, 38(4): 950–971.

"Being different can be attractive." In this article, we draw on interpersonal attraction research to develop a positive approach to cross‐cultural interaction with the novel cultural attractiveness construct. We create an attractiveness measure and establish its predictive validity with country reputation data. Using foreign direct investment data for 41 nations and performance data for 8,519 cross‐border acquisitions, we find that cultural attractiveness predicts foreign direct investment inflows and acquisition outcomes, more so than cultural difference measures.

Li, C., & Parboteeah, K. P. 2015. The effect of culture on the responsiveness of firms to mimetic forces: Imitative foreign joint venture entries into China, 1985-2003. Journal of World Business, 50(3): 465–476.

"How much you imitate others depends on your culture." This paper draws on institutional theory to examine the effect of the cultural environment on mimetic foreign joint venture entries into China. Based on a sample of 1,361 international joint venture entries in the 1985–2003 period, we find that the cultural dimensions individualism–collectivism and power distance significantly affect the responsiveness of firms to mimetic forces.

Schneid, M., Isidor, R., Li, C., & Kabst, R. 2015. The influence of cultural context on the relationship between gender diversity and team performance: a meta-analysis. International Journal of Human Resource Management, 26(6): 733–756.

"When does diversity matter?" This meta-analysis examines the relationship between gender diversity and team performance. Grounded in the categorization-elaboration model, we examine the effect of cultural context as a moderator on the relationship between gender diversity and team performance. Based on 71 independent samples from 68 studies published between 1996 and 2013, we find that the cultural dimensions gender egalitarianism and collectivism significantly moderate the relationship between gender diversity and task performance.