دانلود مقاله ISI انگلیسی شماره 45510
عنوان فارسی مقاله

ادغام مرزی و ادغام توسط شرکت های بازار نوظهور: بررسی تطبیقی

کد مقاله سال انتشار مقاله انگلیسی ترجمه فارسی تعداد کلمات
45510 2015 16 صفحه PDF سفارش دهید محاسبه نشده
خرید مقاله
پس از پرداخت، فوراً می توانید مقاله را دانلود فرمایید.
عنوان انگلیسی
Cross-border mergers and acquisitions by emerging market firms: A comparative investigation ☆
منبع

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

Journal : International Business Review, Volume 24, Issue 1, February 2015, Pages 157–172

کلمات کلیدی
رویکرد تطبیقی - ادغام مرزی و ادغام - شرکت های بازار نوظهور (EMFs) - توسعه بین المللی - منطق M & A - تئوری وابستگی به منابع (RDT)
پیش نمایش مقاله
پیش نمایش مقاله ادغام مرزی و ادغام توسط شرکت های بازار نوظهور: بررسی تطبیقی

چکیده انگلیسی

This paper applies and extends resource dependence theory (RDT) to comparatively investigate major factors that determine the level of cross-border mergers and acquisitions (M&As) by emerging market firms (EMFs) in developed and developing markets. We argue that the resource dependence logic of M&As (or simply the M&A logic) provides a unique perspective in better understanding the internationalization of EMFs via cross-border M&As, but the explanation is bounded by institutional environment (i.e., government effectiveness) in a host nation. Our empirical results, based on a large panel data analysis of cross-border M&As by EMFs from nine emerging economies from 2000 to 2012, suggest that the intensity of EMFs to acquire vital resources for constraint absorption increases the likelihood of their cross-border M&As and the positive relationship is negatively moderated by host government effectiveness. On top of that, consistent with the predictions of resource dependence arguments, we found differences in the determinants of cross-border M&As by EMFs in developed and developing countries. Finally, host country factors attracting Chinese M&As are different from those attracting other emerging economies. Thus, generalization of Chinese M&A deals to other EMFs need to be cautious.

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