Emerging Market Multinationals and Their Cross-Border Acquisitions: Global and Regional Challenges

Heinrichs, Ute; Dikova, Desislava

doi:10.1007/978-3-030-31291-6_7

Cited by 4 publications

(3 citation statements)

References 110 publications

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“…Our research contributes to the signaling theory by validating the event of M&As as the signal between acquirers and the investors during cross-border M&As by emerging-economy firms. Existing research in the signaling effect in M&As examined how the sellers select honest and fit signals and how buyers scan, interpret and apply the signals (Heinrichs and Dikova, 2019; Wu et al , 2013; Reuer et al , 2012). Our research highlights how acquirers signal to investors in stock markets (aligning with Ma et al , 2009; Tao et al , 2017).…”

Section: Discussionmentioning

confidence: 99%

Market reaction to the international acquisitions by Chinese firms

Lin

Wan

et al. 2020

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Purpose The purpose of this paper is to examine the effects of cross-border mergers and acquisitions (M&As) by firms in the emerging marketing on stock market cumulative abnormal returns (CARs). This research focuses on the acquiring firms in emerging markets and broadens the existing scope which highlights the M&As by firms in developed countries. Design/methodology/approach Regarding the controversial argument on the effect of cross-border M&As, the authors introduce a resource-based theory to explain the motivation of M&As by Chinese firms, conduct an event study analysis of 472 international acquisitions by Chinese firms from 2010 to 2015 and indicate cross-border M&As as a positive signal in the stock market. Findings The results reveal that cross-border M&As result in significantly positive CARs in a short term for the acquiring firms listed in mainland markets but not for that in the Hong Kong market. Furthermore, consistent with signaling theory and the investors’ heuristic thinking in decision-making, investors may adopt the technological innovation capability of the country where the target firms locate, and the acquiring firm’s preannouncement in shaping their positive judgment of the acquiring firm’s near future performance. Originality/value The authors distinguished the responses of the investors from the mainland and Hong Kong stock markets and investigated how the knowledge of the national innovation capability of the target firm and acquisition preannouncement influence the investors’ interpretation of the cross-border M&As as a market signal.

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Section: Discussionmentioning

confidence: 99%

Market reaction to the international acquisitions by Chinese firms

Lin

Wan

et al. 2020

CMS

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“…Caiazza and Volpe (2015) identified three main research areas common among prominent studies on cross-border M&As: 1) factors affecting M&A decisions, 2) organisational and cultural integration and 3) assessment and performance indicators. Recent research has argued for a closer look into the M&As of EMNEs in advanced markets because of the information asymmetries that affect cross-border M&A success (Heinrichs & Dikova, 2019). In response to this and similar calls, this paper looks into the process of integration and performance indicators post-M&A between a Chinese EMNE and an acquired firm from the Western market.…”

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confidence: 99%

From transaction to co-creation in Geely’s acquisition of Volvo Cars: impact on innovation output and market performance

Konda

Slepniov

Jin

2022

Asian Journal of Technology Innovation

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General rightsCopyright and moral rights for the publications made accessible in the public portal are retained by the authors and/or other copyright owners and it is a condition of accessing publications that users recognise and abide by the legal requirements associated with these rights.-Users may download and print one copy of any publication from the public portal for the purpose of private study or research.-You may not further distribute the material or use it for any profit-making activity or commercial gain -You may freely distribute the URL identifying the publication in the public portal -

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“…Caiazza and Volpe (2015) identified three main research areas common among prominent studies on cross-border M&As: 1) Factors affecting M&A decision, 2) Organisational and cultural integration and 3) Assessment and performance indicators. Recent research argues for a closer look into the M&As of EMNEs in advanced markets because of the presence of information asymmetries that affect cross-border M&A success (Heinrichs & Dikova, 2019). In response to this and similar calls, this paper looks into the process of integration and performance indicators post M&A between a Chinese EMNE and an acquired firm from the western market.…”

Section: Cross-border Mandas and Emnesmentioning

confidence: 99%

Catching Up in Electromobility: Windows of Opportunity, Industrial Policies, and Formative Sector Development in the Electric Vehicle Sector in China

Konda¹

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General rightsCopyright and moral rights for the publications made accessible in the public portal are retained by the authors and/or other copyright owners and it is a condition of accessing publications that users recognise and abide by the legal requirements associated with these rights.-Users may download and print one copy of any publication from the public portal for the purpose of private study or research. -You may not further distribute the material or use it for any profit-making activity or commercial gain -You may freely distribute the URL identifying the publication in the public portal -

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Emerging Market Multinationals and Their Cross-Border Acquisitions: Global and Regional Challenges

Cited by 4 publications

References 110 publications

Market reaction to the international acquisitions by Chinese firms

Market reaction to the international acquisitions by Chinese firms

From transaction to co-creation in Geely’s acquisition of Volvo Cars: impact on innovation output and market performance

Catching Up in Electromobility: Windows of Opportunity, Industrial Policies, and Formative Sector Development in the Electric Vehicle Sector in China

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