国家文化距离与跨国并购

IF 1.4 4区经济学 Q3 BUSINESS, FINANCE

Asia-Pacific Journal of Accounting & Economics Pub Date : 2021-07-01 DOI:10.1080/16081625.2021.1947858

Ashish Chand, Ruixiang Jiang, Zhenling Zhao

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引用次数: 2

摘要

利用Hofstede Insights组织的跨国并购活动和国家文化得分，我们研究了2008 - 2017年国家文化距离对跨国并购的影响。实证结果表明，并购尝试的成功和并购后的股票收益都与国家文化距离呈负相关。我们还考虑了国家集群和产业效应对这种负相关关系进行了检验。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

查看原文本刊更多论文

National cultural distance and cross-border M&A

ABSTRACT 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.

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来源期刊

Asia-Pacific Journal of Accounting & Economics Multiple-

CiteScore

2.40

自引率

9.10%

发文量

期刊介绍： The Asia-Pacific Journal of Accounting & Economics (APJAE) is an international forum intended for theoretical and empirical research in all areas of economics and accounting in general. In particular, the journal encourages submissions in the following areas: Auditing, financial reporting, earnings management, financial analysts, the role of accounting information, international trade and finance, industrial organization, strategic behavior, market structure, financial contracts, corporate governance, capital markets, and financial institutions. The journal welcomes contributions related to the Asia Pacific region, and targets top quality research from scholars with diverse regional interests. The editors encourage submission of high quality manuscripts with innovative ideas. The editorial team is committed to an expedient review process.