Formal institutions and cross-border mergers and acquisitions: A systematic literature review and research agenda

IF 5.9 1区 管理学 Q1 BUSINESS
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引用次数: 0

Abstract

In the last three decades, cross-border mergers and acquisitions have been the most preferred vehicle for unprecedented internationalization and integration of the global economy. This paper synthesizes the empirical research examining the impact of formal institutions related to state effectiveness, corporate governance and investor protection, and inter-country institutional differences on cross-border mergers and acquisitions. Our review summarizes a total of 156 studies across strategy, international business, finance, and economics literature published from 1995–2023. It presents a synthesized framework across each phase of cross-border mergers and acquisitions. In parallel, we identify opportunities for future research that should address the limitations in the existing stream of research and push the boundaries through the novel integration of theoretical lenses.

正规机构与跨国并购:系统文献综述和研究议程
过去三十年来,跨国并购一直是全球经济实现前所未有的国际化和一体化的首选工具。本文综述了与国家效力、公司治理和投资者保护相关的正式制度以及国家间制度差异对跨国并购影响的实证研究。我们的综述总结了 1995-2023 年间发表的战略、国际商务、金融和经济学文献中的 156 项研究。它为跨国并购的各个阶段提供了一个综合框架。同时,我们还指出了未来研究的机遇,这些机遇应能解决现有研究的局限性,并通过理论视角的新颖整合来推动研究的发展。
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来源期刊
CiteScore
14.10
自引率
6.90%
发文量
95
审稿时长
62 days
期刊介绍: The International Business Review (IBR) stands as a premier international journal within the realm of international business and proudly serves as the official publication of the European International Business Academy (EIBA). This esteemed journal publishes original and insightful papers addressing the theory and practice of international business, encompassing a broad spectrum of topics such as firms' internationalization strategies, cross-border management of operations, and comparative studies of business environments across different countries. In essence, IBR is dedicated to disseminating research that informs the international operations of firms, whether they are SMEs or large MNEs, and guides the actions of policymakers in both home and host countries. The journal warmly welcomes conceptual papers, empirical studies, and review articles, fostering contributions from various disciplines including strategy, finance, management, marketing, economics, HRM, and organizational studies. IBR embraces methodological diversity, with equal openness to papers utilizing quantitative, qualitative, or mixed-method approaches.
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