Purpose

The purpose of this paper is to systematically examine and organize the literature that has explored the effects of several environmental conditions (ECs) on mergers and acquisitions (M&As), in particular highlighting the increasing role of protectionism.

Design/methodology/approach

The systematic literature review methodology was applied for the purpose of identifying, analyzing and interrelating specific ECs that affect M&As, thereby underlining and elucidating the requisite role of protectionism. Specifically, this research is based on 51 methodically selected peer-reviewed articles published from 1991 to 2020.

Findings

The research summarizes and assesses the current state of relevant literature through comprehensive and coherent descriptive and thematic analysis. The proposed conceptual framework allows us to recognize the connections between M&As and external conditions, highlighting varying degrees of study and in-depth analysis across the different areas under consideration.

Originality/value

This study contributes to original and significant knowledge, by developing a conceptual framework that descriptively classifies existing knowledge; by defining refining and explicating the theoretical foundations for scholars to build on; by identifying the research gaps and proposing effective avenues for impactful further research; and by presenting practitioners and policymakers with a practical guide to implementation.

中文翻译：

---

并购与环境条件：系统文献综述以调查其联系

目的

本文的目的是系统地研究和整理探讨多种环境条件 (EC) 对并购 (M&As) 影响的文献，特别强调保护主义日益重要的作用。

设计/方法论/途径

采用系统文献综述方法的目的是识别、分析和关联影响并购的具体EC，从而强调和阐明保护主义的必要作用。具体来说，这项研究基于 1991 年至 2020 年发表的 51 篇经过系统挑选的同行评审文章。

发现

该研究通过全面、连贯的描述性和主题分析来总结和评估相关文献的现状。拟议的概念框架使我们能够认识到并购与外部条件之间的联系，强调不同程度的研究和所考虑的不同领域的深入分析。

原创性/价值

这项研究通过开发一个对现有知识进行描述性分类的概念框架，为原创和重要的知识做出了贡献；通过定义、提炼和解释学者们赖以发展的理论基础；确定研究差距并提出有效的途径进行有影响力的进一步研究；并为从业者和政策制定者提供实用的实施指南。