Protectionism and Cross-Border Mergers and Acquisitions Undertaken by US Multinational Enterprises: The Moderating Role of Intellectual Property Rights Protection

IF 3.9 3区管理学 Q2 MANAGEMENT

Management International Review Pub Date : 2023-10-10 DOI:10.1007/s11575-023-00518-0

Ahmad Arslan, Ofra Bazel-Shoham, Matthew Imes, Sang Mook Lee, Amir Shoham

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Abstract

Abstract This paper examines the impact of protectionism and intellectual property right (IPR) protection in host markets on cross-border mergers and acquisitions (CB M&As). CB M&As have become important vehicles for firms to expand into foreign markets and acquire strategic assets. In recent years, the topic has attracted significant scholarly interest. Recently, many countries have enacted protectionist measures to protect local firms and jobs. Consequently, the impact such measures have on economic activities is under debate in the literature. This study leverages the vital context of CB M&As undertaken by US multinational enterprises (MNEs) between 2011 and 2017 in 49 host countries. The findings indicate that host country IPR protection has a much more substantial and positive impact on CB M&A activities undertaken by USA MNEs than the protectionist policies of the host country by itself. The findings further suggest that, although local protectionism, by itself, does not play a significant role in CB M&As, its presence strengthens the positive effect of IPR protection on CB M&A activities in the host country, thereby supporting the contingent role of such protection. These findings have important implications for research, practice, and policy.

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保护主义与美国跨国企业的跨国并购:知识产权保护的调节作用

摘要本文研究了东道国市场的保护主义和知识产权保护对跨国并购的影响。银行并购已成为企业拓展海外市场和收购战略资产的重要工具。近年来，这个话题引起了极大的学术兴趣。最近，许多国家颁布了保护主义措施，以保护当地公司和就业。因此，这些措施对经济活动的影响在文献中存在争议。本研究利用了美国跨国企业(MNEs)在2011年至2017年期间在49个东道国进行的CB M&的重要背景。研究结果表明，东道国的知识产权保护对美国跨国公司开展的企业并购活动的积极影响要比东道国本身的保护主义政策大得多。研究结果进一步表明，虽然地方保护主义本身并不在工商企业并购中发挥重要作用，但它的存在加强了知识产权保护对东道国工商企业并购活动的积极影响，从而支持了这种保护的偶然作用。这些发现对研究、实践和政策具有重要意义。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Management International Review MANAGEMENT-

CiteScore

6.50

自引率

11.60%

发文量

期刊介绍： Management International Review publishes research-based articles that reflect significant advances in the key areas of International Management. Its target audience consists of scholars in International Business Administration. Management International Review is a double-blind refereed journal that aims at the advancement and dissemination of research in the fields of International Management. The scope of the journal comprises International Business, Cross-Cultural Management, and Comparative Management. The journal publishes research that builds or extends International Management theory so that it can contribute to International Management practice. Management International Review welcomes both theoretical and empirical work. Original papers are invited that are based on a solid theoretical basis and a rigorous methodology. In the area of empirical studies, the journal publishes both quantitative and qualitative research. To be published in Management International Review, a paper must make strong contributions and highlight the significance of those contributions to the field of International Management. The editors are especially interested in manuscripts that break new ground rather than papers that make only incremental contributions. Management International Review publishes articles and research notes. Every year, six issues are published. On average, two of these issues are Focused Issues, which concentrate on a specific subfield of International Management.