Corporate Governance Spillover through Bootstrapping and ASEAN Bidder CBMA Success

IF 0.7 Q4 BUSINESS, FINANCE

Asian Academy of Management Journal of Accounting and Finance Pub Date : 2021-06-30 DOI:10.21315/aamjaf2021.17.1.9

N. Rahim, Ruhani Ali, E. Chu

引用次数: 0

Abstract

This study aims to examine whether the difference in country-level corporate governance between ASEAN bidding and the target country could explain the performance change (Tobin’s Q) following a Cross-border merger and acquisition (CBMA); hence, the CBMA success. Using 142 CBMAs involving ASEAN firms as the bidder over the period 2002 to 2013, the study found that the difference in country-level corporate governance could result in corporate governance spillover through bootstrapping. This has resulted in the improvement of ASEAN bidder corporate governance and positively affected the CBMA success. However, the improvement must be large enough to outweigh the high acquisition cost.

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企业治理溢出与东盟投标人CBMA成功

本研究旨在检验东盟投标和目标国家在国家层面的公司治理差异是否可以解释跨境并购后的绩效变化（Tobin’s Q）；因此，CBMA取得了成功。该研究使用了2002年至2013年期间涉及东盟公司的142个CBMA作为投标人，发现国家层面公司治理的差异可能导致公司治理通过自举溢出。这改善了东盟投标人的公司治理，并对CBMA的成功产生了积极影响。然而，改进必须足够大，以超过高昂的采购成本。

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

Asian Academy of Management Journal of Accounting and Finance BUSINESS, FINANCE-

CiteScore

1.50

自引率

0.00%

发文量

审稿时长

20 weeks

期刊介绍： To provide a forum for the exchange of ideas and dissemination of empirical findings and analytical research in the specialized areas of accounting and finance with special emphasis on scholarly works with policy implications for countries in the Asia Pacific. The following are some of the topical subject areas relevant to the journal (but are not limited to): Accounting • Financial reporting and accounting standards • Auditing issues • Value based accounting and its relevance • Theory of accounting firm • Environmental auditing • Corporate governance issues • Public sector accounting Finance • Valuation of financial assets • International capital flows • Ownership and agency theory • Stock market behavior • Investment and portfolio management • Islamic banking and finance • Microstructures of financial markets