Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
10488527 | International Business Review | 2015 | 13 Pages |
Abstract
This paper considers the effects of state ownership and institutional influences on value creation through cross-border mergers & acquisitions by Chinese firms during the period using a sample of 468 firms. The findings indicate that Chinese bidders experience wealth gains ranging from 0.4771% to 1.5210% over a 10-day event window. The cross-sectional analysis indicates that state ownership, formal institutional distance, reforms in the foreign currency approval system exert significant impact on shareholder value. By considering the state ownership and institutions, this study provides evidence that government and institutions play a huge role in value creation of emerging market firm internationalisation through cross-border mergers & acquisitions (CBM&A).
Related Topics
Social Sciences and Humanities
Business, Management and Accounting
Business and International Management
Authors
Min Du, Agyenim Boateng,