Multinational enterprises from China in Germany : institutional distance agency and networks China Deutschland Mergers and Acquisitions Multinationales Unternehmen Netzwerk Institutional Analysis The importance of investments by emerging country multinationals to industrialised economies has risen continuously as illustrated by the growing number of Chinese merger and acquisitions (M&A) of German Mittelstand firms. This dissertation aims to analyse the effects of institutional distances on the M&A process. To this end William Scott’s concept of institutions is newly operationalized to investigate institutional distances on the intra firm regional and international level. Through interviews with involved firms intermediaries and key persons with dual backgrounds the effects on different dimensions of the subsidiaries’ embeddedness as well as various mechanisms of institutional work during and after the M&A are evaluated.