The influence of CSR on cross-border mergers and acquisitions

IF 7.4 2区经济学 Q1 BUSINESS, FINANCE

Finance Research Letters Pub Date : 2024-10-11 DOI:10.1016/j.frl.2024.106273

Hongxia Feng , Bowen Yang , Pratikshya Bhandari

引用次数: 0

Abstract

This paper conducts a comprehensive analysis of Chinese enterprises' cross-border mergers and acquisitions (M&A) events from 2012 to 2022, investigating the influence of corporate social responsibility (CSR) levels on cross-border M&A within the Chinese context. The research reveals that enterprises with higher CSR scores tend to experience lower success rates in cross-border M&A. Both internal and external CSR dimensions exhibit negative impacts on cross-border M&A, with external CSR demonstrating a more pronounced adverse effect. Notably, a history of successful cross-border M&A outcomes significantly enhances the likelihood of smoothly completed future transactions..

查看原文本刊更多论文

企业社会责任对跨国并购的影响

本文对 2012 年至 2022 年的中国企业跨国并购（M&A）事件进行了全面分析，探讨了企业社会责任（CSR）水平对中国企业跨国并购的影响。研究发现，企业社会责任得分越高的企业，其跨国并购的成功率越低。内部和外部企业社会责任维度都对跨国并购产生了负面影响，其中外部企业社会责任的负面影响更为明显。值得注意的是，跨国并购的成功历史会大大提高未来交易顺利完成的可能性。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

Finance Research Letters BUSINESS, FINANCE-

CiteScore

11.10

自引率

14.40%

发文量

863

期刊介绍： Finance Research Letters welcomes submissions across all areas of finance, aiming for rapid publication of significant new findings. The journal particularly encourages papers that provide insight into the replicability of established results, examine the cross-national applicability of previous findings, challenge existing methodologies, or demonstrate methodological contingencies. Papers are invited in the following areas: Actuarial studies Alternative investments Asset Pricing Bankruptcy and liquidation Banks and other Depository Institutions Behavioral and experimental finance Bibliometric and Scientometric studies of finance Capital budgeting and corporate investment Capital markets and accounting Capital structure and payout policy Commodities Contagion, crises and interdependence Corporate governance Credit and fixed income markets and instruments Derivatives Emerging markets Energy Finance and Energy Markets Financial Econometrics Financial History Financial intermediation and money markets Financial markets and marketplaces Financial Mathematics and Econophysics Financial Regulation and Law Forecasting Frontier market studies International Finance Market efficiency, event studies Mergers, acquisitions and the market for corporate control Micro Finance Institutions Microstructure Non-bank Financial Institutions Personal Finance Portfolio choice and investing Real estate finance and investing Risk SME, Family and Entrepreneurial Finance