National cultural distance and cross-border M&A

被引：0
作者：
Chand, Ashish [1 ]
Jiang, Ruixiang [2 ]
Zhao, Zhenling [3 ]
机构：
[1] Belden Inc, Ind Automat, St Louis, MO USA
[2] City Univ Hong Kong, Dept Informat Syst, Hong Kong, Peoples R China
[3] Univ Sci & Technol China, Sch Management, Int Inst Finance, Hefei, Peoples R China
来源：
ASIA-PACIFIC JOURNAL OF ACCOUNTING & ECONOMICS | 2023年 / 30卷 / 05期
关键词：
National cultural distance; cross-border M&A; country cluster; UNITED-STATES; SHAREHOLDER WEALTH; ACQUISITIONS; PERFORMANCE; MERGERS; COMPLEMENTARITY; CHOICE;
D O I：
10.1080/16081625.2021.1947858
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
Using cross-border M&A activities and national cultural scores from the Hofstede Insights organization, we study the impact of national cultural distance on cross-border M&As from 2008 to 2017. The empirical evidence shows that both the success of M&A attempts and the post-acquisition stock returns are negatively related to national cultural distance. We also test this negative relation considering the country cluster and industry effects.
引用
收藏
页码：1350 / 1367
页数：18
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