Stakeholders’ perceptions of Chinese takeovers: the case of Germany and Italy (evidence from the national press)

Objective: Italy and Germany are two large economies of the European Union. However, they differ with regard to culture, business environment structure, as well as social and political concerns. This paper focuses on how Chinese takeovers are perceived by stakeholders as reflected in the national press in Italy and Germany, and compares stakeholders’ perceptions in two major national news magazines. Method: Stakeholders’ perceptions were retrieved by adopting a qualitative approach which unfolds in a detailed and specific procedure. The textual elements referring to perceptions were categorized on the basis of specific questions. To ensure objectivity, the authors carried out independent reading and rating and the assessment of positive, neutral, and negative perceptions. Results: The German government highlights the growing awareness of a one-sided technology drain, while the Italian tends to perceive China as a negative investor. German and Italian shareholders have positive perceptions due to economic benefits. However, employees seem to have no voice. Conclusions: Factors related to national culture and business environments may be due to the fact that employees have no voice in the national press articles. Contributions: This study contributes to interpreting the phenomenon host country stakeholders, especially employees, who are under-represented.