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

页码：1350 / 1367

页数：18

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