Research on the relationship of cross-border M&As and international competitiveness — Based on the perspective of specific advantage

This paper explores Chinese enterprises´ cross-border M&As behavior from the perspective of specific advantage. In cross-border M&As, Foreign-oriented enterprises develop country-specific advantages and establish firm-specific advantages. Domestic-oriented enterprises develop both country-specific advantages and firm-specific advantages, but only the transferable firm-specific advantages can help establish international competitiveness.