Corruption Control, High-Tech Acquisitions, and the Role of Power Distance

被引：0

作者：

Hoang, Viet Anh ^{[1
]}

Thai, Hong An ^{[1
]}

Le, Phuong Uyen ^{[1
]}

Nguyen, Thanh Huong ^{[1
]}

Dang, Man ^{[1
]}

机构：

[1] Univ Econ, Univ Danang, Da Nang, Vietnam

来源：

SAGE OPEN | 2025年 / 15卷 / 01期

关键词：

Acquisitions; control of corruption; power distance; transparency; high-tech; POLITICAL CORRUPTION; MERGERS; IMPACT; PERFORMANCE; UNCERTAINTY; COMPANIES;

D O I：

10.1177/21582440251323664

中图分类号：

C [社会科学总论];

学科分类号：

03 ; 0303 ;

摘要：

This study investigates how corruption control influences the choice between high-tech and non-high-tech acquisition targets, using international data from 2000 to 2019. Grounded in the institutional theory and transaction cost economics, we hypothesize that stronger corruption control reduces transaction risks, making high-tech acquisitions more attractive. Our findings confirm a positive relationship between corruption control and high-tech acquisitions, but document an inverted U-shaped effect, indicating that beyond a certain threshold, the regulatory burden may deter high-tech investments. Further, we find that cultural distance shapes acquisition outcomes, reinforcing the cross-cultural management theory that power distance moderates the positive relationship between corruption control and high-tech acquisitions. The study contributes to the literature by highlighting the importance of institutional quality in shaping sector-specific acquisition strategies and offers practical implications for managers and policymakers.

引用

页数：19

共 62 条

[1] The impact of institutional investors on mergers and acquisitions in the United Kingdom [J].

Andriosopoulos, Dimitris ;

Yang, Shuai .

JOURNAL OF BANKING & FINANCE, 2015, 50 :547-561

[2]

Benou G., 2005, Journal of High Technology Management Research, V16, P101, DOI [10.1016/j.hitech.2005.06.006, DOI 10.1016/J.HITECH.2005.06.006]

[3] High-tech acquisitions: How acquisition pace, venture maturity, and founder retention influence firm innovation [J].

Bhussar, Manjot S. ;

Sexton, Jennifer C. ;

Zorn, Michelle L. ;

Song, Yue .

JOURNAL OF BUSINESS RESEARCH, 2022, 142 :620-635

[4] The Impact of Uncertainty Shocks [J].

Bloom, Nicholas .

ECONOMETRICA, 2009, 77 (03) :623-685

[5] Informal authority and economic outcomes of family firms: An issue of national power distance [J].

Breuer, Wolfgang ;

Knetsch, Andreas .

INTERNATIONAL REVIEW OF FINANCIAL ANALYSIS, 2022, 81

[6] The value of investor protection: Firm evidence from cross-border mergers [J].

Bris, Arturo ;

Cabolis, Christos .

REVIEW OF FINANCIAL STUDIES, 2008, 21 (02) :605-648

[7] Explaining the national cultural distance paradox [J].

Brouthers, KD ;

Brouthers, LE .

JOURNAL OF INTERNATIONAL BUSINESS STUDIES, 2001, 32 (01) :177-189

[8] Does acquisition lead to the growth of high-tech scale-ups? Evidence from Europe [J].

Burger, Anze ;

Hogan, Teresa ;

Kotnik, Patricia ;

Rao, Sandeep ;

Sakinc, Mustafa Erdem .

RESEARCH IN INTERNATIONAL BUSINESS AND FINANCE, 2023, 64

[9] Acquisitions of private vs. public firms: Private information, target selection, and acquirer returns [J].

Capron, Laurence ;

Shen, Jung-Chin .

STRATEGIC MANAGEMENT JOURNAL, 2007, 28 (09) :891-911

[10] The Oscar goes to ...: High-tech firms' acquisitions in response to rivals' technology breakthroughs [J].

Chen, I-Ju ;

Hsu, Po-Hsuan ;

Officer, Micah S. ;

Wang, Yanzhi .

RESEARCH POLICY, 2020, 49 (07)

← 1 2 3 4 5 6 7 →