The State of Case Study Research in Mergers & Acquisitions: A Review of the Literature in Different Management Streams

Reddy, Kotapati Srinivasa (2015): The State of Case Study Research in Mergers & Acquisitions: A Review of the Literature in Different Management Streams.

Abstract

Purpose: The purpose of this paper is to explore the state of case study research in mergers and acquisitions (M&A) literature that account for different management streams. It also recommends directions for future research and suggests fruitful guidelines for establishing better research rigor in qualitative methods.

Methodology: This study draws attention to the case study method in qualitative research and thereby aims to review previous studies using said approach in M&A related literature.

Findings: The main findings include, 57 journal articles are found to be using different qualitative methods of which 40 (17) articles have focused on developed (emerging) markets, single (multiple) case based studies are 29 (24) and remaining four have used survey and interview methods. Importantly, a meager number of studies have accomplished the purpose of case study research in business administration, i.e. testing extant theory and building new theory. Albeit, doing case study research among emerging markets is exiting and these institutional countries provide a unique setting to build theory as well as advance the current knowledge because of increasing prospects for M&A and other growth strategies.

Research limitations: This stylized review of case study research in M&A literature is limited to journal publications and qualitative methods. Hence, a survey of qualitative and quantitative methods in growth strategies is left to future research.

Practical implications: Qualitative researchers, in general, would benefit from the bibliometric analysis and comprehensive summary of past research. While, case study researchers, in particular, would benefit not only form the later content but also from suggestions reflecting the research quality and validity.

Originality: This study, indeed, is an original attempt at presenting the current state and review of case study method in M&A research, provided no earlier study claims this.

• Item Type: MPRA Paper
• Language: English
• Keywords: Case study research; Mergers & Acquisitions; International business; Corporate diversification; Internationalization; Strategic management; Theory development
• Subjects: F - International Economics > F2 - International Factor Movements and International Business; F - International Economics > F2 - International Factor Movements and International Business > F23 - Multinational Firms ; International Business; F - International Economics > F4 - Macroeconomic Aspects of International Trade and Finance; G - Financial Economics > G3 - Corporate Finance and Governance; G - Financial Economics > G3 - Corporate Finance and Governance > G34 - Mergers ; Acquisitions ; Restructuring ; Corporate Governance; M - Business Administration and Business Economics ; Marketing ; Accounting ; Personnel Economics > M1 - Business Administration; M - Business Administration and Business Economics ; Marketing ; Accounting ; Personnel Economics > M1 - Business Administration > M16 - International Business Administration

References

Aharoni, Y. and Brock, D.M. (2010), “International business research: looking back and looking forward”, Journal of International Management, Vol. 16 No. 1, pp. 5-15.

Ambrosini, V., Bowman, C. and Collier, N. (2010), “Using teaching case studies for management research”, Strategic Organization, Vol. 8 No. 3, pp. 206-29.

Angwin, D. (2001), “Mergers and acquisitions across European borders: national perspectives on preacquisition due diligence and the use of professional advisers”, Journal of World Business, Vol. 36 No. 1, pp. 32-57.

Babić, V.M., Savović, S.D. and Domanović, V.M. (2014), “Transformational leadership and post-acquisition performance in transitional economies”, Journal of Organizational Change Management, Vol. 27 No. 6, pp. 856-76.

Baroncelli, A. (1998), “Telecom Italia: Merging five companies into one”, Long Range Planning, Vol. 31 No. 3, pp. 377-95.

Bello, D.C. and Kostova, T. (2012), “From the Editors: Conducting high impact international business research: the role of theory”, Journal of International Business Studies, Vol. 43 No. 6, pp. 537-43.

Bengtsson, L. and Larsson, R. (2012), “Researching mergers & acquisitions with the case study method: Idiographic understanding of longitudinal integration processes”, Working paper, 2012/4, Centre for Strategic Innovation Research, http://www.bth.se/csir. Also In: Y. Weber (eds), Handbook for Mergers and Acquisitions Research, 172-202. Edward Elgar, Cheltenham, UK.

Birkinshaw, J., Brannen, M.Y. and Tung, R.L. (2011), “From a distance and generalizable to up close and grounded: reclaiming a place for qualitative methods in international business research”, Journal of International Business Studies, Vol. 42 No. 5, pp. 573-81.

Bitsch, V. (2005), “Qualitative research: a grounded theory example and evaluation criteria”, Journal of Agribusiness, Vol. 23 No. 1, pp. 75-91.

Bjursell, C. (2011), “Cultural divergence in merging family businesses”, Journal of Family Business Strategy, Vol. 2 No. 1, pp. 69-77.

Blaško, M., Netter, J.M. and Sinkey, J.F. (2000), “Value creation and challenges of an international transaction: The DaimlerChrysler merger”, International Review of Financial Analysis, Vol. 9 No. 1, pp. 77-102.

Boehe, D.M. (2011), “Exploiting the liability of foreignness: why do service firms exploit foreign affiliate networks at home?”, Journal of International Management, Vol. 17 No. 1, pp. 15-29.

Cambra-Fierro, J.J., Hart, S., Polo-Redondo, Y. and Fuster-Mur, A. (2012), “Market and learning orientation in times of turbulence: relevance questioned? An analysis using a multi-case study”, Quality and Quantity, Vol. 46 No. 3, pp. 855-71.

Canabal, A. and White, G.O. (2008), “Entry mode research: past and future”, International Business Review, Vol. 17 No. 3, pp. 267-84.

Carr, C. (1997), “Competency-led strategies based on international collaboration: four case studies of Anglo-Japanese cooperation”, Knowledge and Process Management, Vol. 4 No. 1, pp. 49-62.

Carson, D., Gilmore, A., Perry, C. and Gronhaug, K. (2001), Qualitative Marketing Research, Sage Research Methods (online).

Cheng, J.L C., Henisz, W.J., Roth, K. and Swaminathan, A. (2009), “From the editors: advancing interdisciplinary research in the field of international business: prospects, issues and challenges”, Journal of International Business Studies, Vol. 40 No. 7, pp. 1070-74.

Child, J. and Tsai, T. (2005), “The dynamic between firms’ environmental strategies and institutional constraints in emerging economies: Evidence from China and Taiwan”, Journal of Management Studies, Vol. 42 No. 1, pp. 95-125.

Collinson, S. and Rugman, A.M. (2010), “Case selection biases in management research: the implications for international business studies”, European Journal of International Management, Vol. 4 No. 5, pp. 441-63.

Conklin, D.W. (2005), “Cross-border mergers and acquisitions: a response to environmental transformation”, Journal of World Business, Vol. 40 No. 1, pp. 29-40.

Cook, T.D. and Campbell, D.T. (1976), “The design and conduct of quasi-experiments and true experiments in field settings”, In M.D. Dunnette (eds.), Handbook of industrial and organizational psychology, 223-336. Rand McNally, Chicago.

Curry, L.A., Nembhard, I.M. and Bradley, E.H. (2009), “Qualitative and mixed methods provide unique contributions to outcomes research”, Circulation, Vol. 119 No. 10, pp. 1442-52.

Cusella, L.P. (2000), “Managing after the merger- case analysis”, Management Communication Quarterly, Vol. 13 No. 4, pp. 668-78.

Deng, P. (2009), “Why do Chinese firms tend to acquire strategic assets in international expansion?”, Journal of World Business, Vol. 44 No. 1, pp. 74-84.

Dieleman, M. and Sachs, W.M. (2008), “Coevolution of institutions and corporations in emerging economies: How the Salim Group morphed into an institution of Suharto’s Crony regime”, Journal of Management Studies, Vol. 45 No. 7, pp. 1274-1300.

Doz, Y. (2011), “Qualitative research for international business”, Journal of International Business Studies, Vol. 42 No. 5, pp. 582-90.

Drori, I., Wrzesniewski, A. and Ellis, S. (2011), “Cultural clashes in a “merger of equals”: The case of high-tech start-ups”, Human Resource Management, Vol. 50 No. 5, pp. 625-49.

Duncan, C. and Mtar, M. (2006), “Determinants of international acquisition success: Lessons from FirstGroup in North America”, European Management Journal, Vol. 24 No. 6, pp. 396-410.

Eisenhardt, K.M. (1989), “Building theories from case study research”, Academy of Management Review, Vol. 14 No. 4, pp. 532-50.

Eisenhardt, K.M. and Graebner, M.E. (2007), “Theory building from cases: opportunities and challenges”, Academy of Management Journal, Vol. 50 No. 1, pp. 25-32.

Eriksson, P. and Kovalainen, A. (2008), Qualitative Methods in Business Research, Sage Research Methods (online).

Fang, T., Fridh, C. and Schultzberg, S. (2004), “Why did the Telia–Telenor merger fail?”, International Business Review, Vol. 13 No. 5, pp. 573-94.

Flyvbjerg, B. (2006), “Five misunderstandings about case-study research”, Qualitative Inquiry, Vol. 12 No. 2, pp. 219-45.

Geppert, M., Dörrenbächer, C., Gammelgaard, J. and Taplin, I. (2013), “Managerial risk-taking in international acquisitions in the brewery industry: institutional and ownership influences compared”, British Journal of Management, Vol. 24 No. 3, pp. 316-32.

Ghauri, P.N. (2004), “Designing and conducting case studies in international business research”, In R. Marschan-Piekkari and C. Welch (eds.), Handbook of Qualitative Research Methods for International Business, 109-124. Edward Elgar, Cheltenham, UK.

Ghauri, P.N. and Firth, R. (2009), “The formalization of case study research in international business”, Der Markt, Vol. 48 No. 1/2, pp. 29-40.

Gibbert, M. and Ruigrok, W. (2010), “The ''what'' and ''how'' of case study rigor: Three strategies based on published work”, Organizational Research Methods, Vol. 13 No. 4, pp. 710-37.

Gomm, R., Hammersley, M. and Foster, P. (2009), Case Study Method, Sage Research Methods (online).

Haleblian, J., Devers, C.E., McNamara, G., Carpenter, M.A. and Davison, R.B. (2009), “Taking stock of what we know about mergers and acquisitions: a review and research agenda”, Journal of Management, Vol. 35 No. 3, pp. 469-502.

Halsall, R. (2008), “Intercultural mergers and acquisitions as ‘legitimacy crises’ of models of capitalism: a UK-German case study”, Organization, Vol. 15 No. 6, pp. 787-809.

Harris, S.E. (2010), “The Deloitte & Touche merger decision: lessons learned from a successful merger”, Organizational Dynamics, Vol. 39 No. 3, pp. 279-87.

Hoon, C. (2013), “Meta-synthesis of qualitative case studies: an approach to theory building”, Organizational Research Methods, Vol. 16 No. 4, pp. 522-56.

Hoskisson, R.E., Eden, L., Lau, C.M. and Wright, M. (2000), “Strategy in emerging economies”, Academy of Management Journal, Vol. 43 No. 3, pp. 249-67.

Huang, T.-Y., Hu, J.-S. and Chen, K.-C. (2008), “The influence of market and product knowledge resource embeddedness on the international mergers of advertising agencies: the case-study approach”, International Business Review, Vol. 17 No. 5, pp. 587-99.

Ito, S., Fujimura, S. and Tamiya, T. (2012), “Does cultural assimilation affect organizational decision-making on quality-related incidents? – A company's post-M&A experience”, Journal of International Management, Vol. 18 No. 2, pp. 160-79.

Jonsson, A. and Foss, N.J. (2011), “International expansion through flexible replication: learning from the internationalization experience of IKEA”, Journal of International Business Studies, Vol. 42 No. 9, pp. 1079-1102.

Ketchen, D.J., Boyd, B.K. and Bergh, D.D. (2008), “Research methodology in strategic management: past accomplishments and future challenges”, Organizational Research Methods, Vol. 11 No. 4, pp. 643-58.

Knoerich, J. (2010), “Gaining from the global ambitions of emerging economy enterprises: An analysis of the decision to sell a German firm to a Chinese acquirer”, Journal of International Management, Vol. 16 No. 2, pp. 177-91.

Krug, J.A. and Nigh, D. (2001), “Executive perceptions in foreign and domestic acquisitions: an analysis of foreign ownership and its effect on executive fate”, Journal of World Business, Vol. 36 No. 1, pp. 85-105.

Kshetri, N. and Dholakia, N. (2009), “Professional and trade associations in a nascent and formative sector of a developing economy: a case study of the NASSCOM effect on the Indian offshoring industry”, Journal of International Management, Vol. 15 No. 2, pp. 225-39.

Larsson, R. (1993), “Case survey methodology: Quantitative analysis of patterns across case studies”, Academy of Management Journal, Vol. 36 No. 6, pp. 1515-46.

Larsson, R. and Lubatkin, M. (2001), “Achieving acculturation in mergers and acquisitions: an international case survey”, Human Relations, Vol. 54 No. 12, pp. 1573-1607.

Liu, C.-L. and Zhang, Y.Z. (2014), “Learning process and capability formation in cross-border buyer–supplier relationships: a qualitative case study of Taiwanese technological firms”, International Business Review, Vol. 23 No. 4, pp. 718-730.

London, T. and Hart, S.L. (2004), “Reinventing strategies for emerging markets: beyond the transnational model”, Journal of International Business Studies, Vol. 35 No. 5, pp. 350-70.

Lynes, J. and Andrachuk, M. (2008), “Motivations for corporate social and environmental responsibility: a case study of Scandinavian Airlines”, Journal of International Management, Vol. 14 No. 4, pp. 377-90.

Maguire, S. and Phillips, N. (2008), “‘Citibankers’ at Citigroup: a study of the loss of institutional trust after a merger”, Journal of Management Studies, Vol. 45 No. 2, pp. 372-401.

Matthyssens, P. and Pauwels, P. (2000), “Uncovering international market-exit processes: a comparative case study”, Psychology & Marketing, Vol. 17 No. 8, pp. 697-719.

Meglio, O. and Risberg, A. (2010), “Mergers and acquisitions-Time for a methodological rejuvenation of the field?”, Scandinavian Journal of Management, Vol. 26 No. 1, pp. 87-95.

Melkonian, T., Monin, P. and Noorderhaven, N.G. (2011), “Distributive justice, procedural justice, exemplarity, and employees’ willingness to cooperate in M&A integration processes: an analysis of the Air France–KLM merger”, Human Resource Management, Vol. 50 No. 6, pp. 809-37.

Meyer, C.B. (2001), “A case in case study methodology”, Field Methods, Vol. 13 No. 4, pp. 329-52.

Meyer, C.B. and Altenborg, E. (2007), “The disintegrating effects of equality: a study of a failed international merger”, British Journal of Management, Vol. 18 No. 3, pp. 257-71.

Meyer, C.B. and Altenborg, E. (2008), “Incompatible strategies in international mergers: the failed merger between Telia and Telenor”, Journal of International Business Studies, Vol. 39 No. 3, pp. 508-25.

Meyer, K.E. (2006), “Asian management research needs more self-confidence”, Asia Pacific Journal of Management, Vol. 23 No. 2, pp. 119-37.

Meyer, K.E., Estrin, S., Bhaumik, S.K. and Peng, M.W. (2009), “Institutions, resources, and entry strategies in emerging economies”, Strategic Management Journal, Vol. 30 No. 1, pp. 61-80.

Mickelson, R.E. and Worley, C. (2003), “Acquiring a family firm: a case study”, Family Business Review, Vol. 16 No. 4, pp. 251-68.

Miller, K.D. and Tsang, E.W.K. (2011), “Testing management theories: critical realist philosophy and research methods”, Strategic Management Journal, Vol. 32 No. 2, pp. 139-58.

Mtar, M. (2010), “Institutional, industry and power effects on integration in cross-border acquisitions”, Organization Studies, Vol. 31 No. 8, pp. 1099-1127.

Nadolska, A. and Barkema, H.G. (2007), “Learning to internationalise: the pace and success of foreign acquisitions”, Journal of International Business Studies, Vol. 38 No. 7, pp. 1170-86.

Nangia, V.K., Agarawal, R., Sharma, V. and Reddy, K.S. (2011), “Conglomerate diversification through cross-continent acquisition: Vedanta weds Cairn India”, Emerald Emerging Markets Case Studies, Vol. 1 No. 1, pp. 1-15.

Nicholson, G.J. and Kiel, G.C. (2007), “Can directors impact performance? A case-based test of three theories of corporate governance”, Corporate Governance: An International Review, Vol. 15 No. 4, pp. 585-608.

Outhwaite, W. and Turner, S.P. (2007), The SAGE Handbook of Social Science Methodology, Sage Research Methods (online).

Paul, J. and Bhawsar, P. (2011), “Japanese acquisition in India’s Ranbaxy”, Competitiveness Review: An International Business Journal, Vol. 21 No. 5, pp. 452-70.

Pauwels, P. and Matthyssens, P. (2004), “The architecture of multiple case study research in international business”, In: R. Marschan-Piekkari and C. Welch (eds.), Handbook of Qualitative Research Methods for International Business, Edward Elgar, Cheltenham, UK.

Payne, G. and Payne, J. (2004), Key Concepts in Social Research, Sage Research Methods (online).

Peng, M.W. (2004), “Identifying the big question in international business research”, Journal of International Business Studies, Vol. 35 No. 2, pp. 99-108.

Piekkari, R., Welch, C. and Paavilainen, E. (2009), “The case study as disciplinary convention: evidence from international business journals”, Organizational Research Methods, Vol. 12 No. 3, pp. 567-89.

Pierce, T. and Dougherty, D.S. (2002), “The construction, enactment, and maintenance of power-as-domination through an acquisition: the case of TWA and Ozark airlines”, Management Communication Quarterly, Vol. 16 No. 2, pp. 129-64.

Poulis, K., Poulis, E. and Plakoyiannaki, E. (2013), “The role of context in case study selection: an international business perspective”, International Business Review, Vol. 22 No. 1, pp. 304-14.

Quah, P. and Young, S. (2005), “Post-acquisition management: a phases approach for cross-border M&As”, European Management Journal, Vol. 23 No. 1, pp. 65-75.

Reddy, K.S. (2015a), “Beating the Odds! Build theory from emerging markets phenomenon and the emergence of case study research – A “Test-Tube” typology”, Cogent Business & Management, Vol. 2 No. 1.

Reddy, K.S. (2015b), Extant reviews on entry-mode/internationalization, mergers & acquisitions, and diversification: Understanding theories and establishing interdisciplinary research, Retrieved from http://mpra.ub.uni-muenchen.de/63744/1/MPRA_paper_63744.pdf.

Reddy, K.S. (2015c), Revisiting and reinforcing the Farmers Fox theory: A study (test) of three cases in cross-border inbound acquisitions, Retrieved from http://mpra.ub.uni-muenchen.de/63561/1/MPRA_paper_63561.pdf.

Reddy, K.S., Nangia, V.K. and Agrawal, R. (2014), “Farmers Fox Theory: does a country's weak regulatory system benefit both the acquirer and the target firm? Evidence from Vodafone-Hutchison deal”, International Strategic Management Review, Vol. 2 No. 1, pp. 56-67.

Reddy, K.S., Nangia, V.K. and Agrawal, R. (2012), “Mysterious broken cross-country M&A deal: Bharti Airtel-MTN”, Journal of the International Academy for Case Studies, Vol. 18 No. 7, pp. 61-75.

Riad, S. and Vaara, E. (2011), “Varieties of national metonymy in media accounts of international mergers and acquisitions”, Journal of Management Studies, Vol. 48 No. 4, pp. 737-71.

Rowlinson, M. (1995), “Strategy, structure and culture: Cadbury, divisionalization and merger in the 1960s”, Journal of Management Studies, Vol. 32 No. 2, pp. 121-40.

Seno-Alday, S. (2010), “International business thought: a 50-year footprint”, Journal of International Management, Vol. 16 No. 1, pp. 16-31.

Shah, S.K. and Corley, K.G. (2006), “Building better theory by bridging the quantitative–qualitative divide”, Journal of Management Studies, Vol. 43 No. 8, pp. 1821-35.

Shenkar, O. (2004), “One more time: international business in a global economy”, Journal of International Business Studies, Vol. 35 No. 2, pp. 161-71.

Shimizu, K., Hitt, M.A., Vaidyanath, D. and Pisano, V. (2004), “Theoretical foundations of cross-border mergers and acquisitions: A review of current research and recommendations for the future”, Journal of International Management, Vol. 10 No. 3, pp. 307-53.

Sim, A.B. (2006), “Internationalization strategies of emerging Asian MNEs–case study evidence on Singaporean and Malaysian firms”, Asia Pacific Business Review, Vol. 12 No. 4, pp. 487-505.

Singer, M.I. and Yankey, J.A. (1991), “Organizational metamorphosis: a study of eighteen nonprofit mergers, acquisitions, and consolidations”, Nonprofit Management & Leadership, Vol. 1 No. 4, pp. 357-69.

Sinkovics, R.R., Zagelmeyer, S. and Kusstatscher, V. (2011), “Between merger and syndrome: the intermediary role of emotions in four cross-border M&As, “International Business Review, Vol. 20 No. 1, pp. 27-47.

Sobh, R. and Perry, C. (2006), “Research design and data analysis in realism research”, European Journal of Marketing, Vol. 40 No. 11/12, pp. 1194-1209.

Stake, R.E. (1994), “Case studies”, In N.K. Denzin and Y.S. Lincoln (eds.), Handbook of Qualitative Research, Sage, Thousand Oaks, CA.

Stake, R.E. (1995), The Art of Case Study Research, Sage, London.

Syrjälä, J., Takala, T. and Sintonen, T. (2009), “Narratives as a tool to study personnel wellbeing in corporate mergers”, Qualitative Research, Vol. 9 No. 3, pp. 263-84.

Teegavarapu, S. and Summers, J.D. (2008), Case study method for design research, Proceedings of IDETC/DTM 2008 and ASME 2008 International Design Engineering Technical Conferences & Computers and Information in Engineering Conference August 3-6, 2008, New York city, New York, USA.

Tenn, S. and Yun, J.M. (2011), “The success of divestitures in merger enforcement: evidence from the J&J–Pfizer transaction”, International Journal of Industrial Organization, Vol. 29 No. 2, pp. 273-82.

Thyer, B.A. (2001), The Handbook of Social Work Research Methods, Sage Research Methods (online).

Tienari, J., Vaara, E. and Björkman, I. (2003), “Global capitalism meets national spirit: discourses in media texts on a cross-border acquisition”, Journal of Management Inquiry, Vol. 12 No. 4, pp. 377-93.

Tsamenyi, M., Qureshi, A.Z. and Yazdifar, H. (2013), “The contract, accounting and trust: a case study of an international joint venture (IJV) in the United Arab Emirates (UAE)”, Accounting Forum, Vol. 37 No. 3, pp. 182-95.

Tsang, E.K.W. (2013), “Case study methodology: causal explanation, contextualization, and theorizing”, Journal of International Management, Vol. 19 No. 2, pp. 195-202.

Tsang, E.W.K. (2014), “Case studies and generalization in information systems research: a critical realist perspective”, Journal of Strategic Information Systems, Vol. 23 No. 2, pp. 174-186.

Ullrich, J., Wieseke, J. and Van Dick, R. (2005), “Continuity and change in mergers and acquisitions: a social identity case study of a German industrial merger”, Journal of Management Studies, Vol. 42 No. 8, pp. 1549-69.

Vandenberghe, J. (2011), “Repsol meets YPF: displaying competence in cross-border M&A press releases”, International Journal of Business Communication, Vol. 48 No. 4, pp. 373-92.

Varma, S. (2011), “Born global acquirers from Indian IT: an exploratory case study”, International Journal of Emerging Markets, Vol. 6 No. 4, pp. 351-68

Very, P. and Schweiger, D.M. (2001), “The acquisition process as a learning process: evidence from a study of critical problems and solutions in domestic and cross-border deals”, Journal of World Business, Vol. 36 No. 1, pp. 11-31.

Wan, K.-M. and Wong, K.-F. (2009), “Economic impact of political barriers to cross-border acquisitions: an empirical study of CNOOC's unsuccessful takeover of Unocal”, Journal of Corporate Finance, Vol. 15 No. 4, pp. 447-68.

Wei, T. and Clegg, J. (2014), “Successful integration of target firms in international acquisitions: a comparative study in the Medical Technology industry”, Journal of International Management, Vol. 20 No. 2, pp. 237-55.

Welch, C., Piekkari, R., Plakoyiannaki, E. and Paavilainen-Mäntymäki, E. (2011), “Theorising from case studies: towards a pluralist future for international business research”, Journal of International Business Studies, Vol. 42 No. 5, pp. 740-62.

Willis, J.W. (2007), Foundations of Qualitative Research: Interpretive and Critical Approaches, Sage Research Methods (online).

Woodside, A.G. (2010), Case Study Research: Theory, Methods and Practice, Emerald, Bingley, UK.

Yin, R.K. (1981), “The case study crisis: some answers”, Administrative Science Quarterly, Vol. 26 No. 1, pp. 58-65.

Yin, R.K. (1984), Case Study Research: Design and Methods, Sage, Beverly Hills, CA.

Yin, R.K. (1994), Case Study Research: Design and Methods, 2nd Ed., Sage, Thousand Oaks, CA.

Yin, R.K. (2003), Case Study Research: Design and Methods, 3rd Ed., Sage, Thousand Oaks, CA.

Yip, G.S., Rugman, A.M. and Kudina, A. (2006), “International success of British companies”, Long Range Planning, Vol. 39 No. 3, pp. 241-64.