دانلود مقاله ISI انگلیسی شماره 103006
کد مقاله سال انتشار مقاله انگلیسی ترجمه فارسی تعداد کلمات
103006 2017 11 صفحه PDF سفارش دهید 10728 کلمه
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عنوان انگلیسی
Enhancing performance of cross-border mergers and acquisitions in developed markets: The role of business ties and technological innovation capability
منبع

Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)

Journal : Journal of Business Research, Volume 81, December 2017, Pages 107-117

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چکیده انگلیسی

This study examines the determinants of performance of cross-border mergers and acquisitions (cross-border M&As) in developed markets initiated by firms from emerging markets. Drawing on social network theory and organizational innovation literature, we hypothesize that business ties of the acquiring firm increase performance of cross-border M&As via enhancing the acquiring firm's technological innovation capability and that environmental turbulence strengthens this mediating model. Moreover, the interplay of cultural distance and technological innovation capability would decrease performance of cross-border M&As. To test the model, we collected data from 186 Chinese firms initiating cross-border M&As in developed markets. As predicted, we found that (1) technological innovation capability of the acquiring firm positively mediates the relationship between business ties and performance of cross-border M&As; (2) environmental turbulence positively moderates the relationship between business ties and technological innovation capability; and (3) cultural distance negatively moderates the relationship between technological innovation capability and performance of cross-border M&As.

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