Journal article
Cultural heterogeneity, acquisition experience and the performance of Chinese cross-border acquisitions
Journal of the Asia Pacific Economy, Vol.28(2), pp.738-765
2023
Abstract
Using data over the 2010-2015 period, we investigate the effect of cultural heterogeneity and cross-border acquisition experience on post-acquisition performance of Chinese publicly listed companies (PLCs). We find that between and within cultural heterogen-eity has a negative and statistically significant effect on post-acquisition performance, but the effect of acquisition experience on post-acquisition performance is positive. We find that the dynamic marginal effects of cultural heterogeneity and acquisition experience on post-acquisition performance of Chinese PLCs are contingent on the scale of acquisition. Chinese PLCs can improve their post-acquisition performance by overcoming the issues arising from cultural heterogeneity, accumulating acquisition experience , and exploiting economies of scale. However, in the case of state-owned PLCs, prior cross-border acquisition experience can adversely affect the performance of new cross-border acquisitions.
Details
- Title
- Cultural heterogeneity, acquisition experience and the performance of Chinese cross-border acquisitions
- Authors
- Lili Kang (Author) - Shanghai Lixin University of Accounting and FinanceFei Peng (Author) - Shanghai Lixin University of Accounting and FinanceSajid Anwar (Author) - University of the Sunshine Coast, Queensland, School of Business and Creative Industries
- Publication details
- Journal of the Asia Pacific Economy, Vol.28(2), pp.738-765
- Publisher
- Routledge
- DOI
- 10.1080/13547860.2021.1950112
- ISSN
- 1469-9648
- Organisation Unit
- Indigenous and Transcultural Research Centre; School of Business and Creative Industries; University of the Sunshine Coast, Queensland
- Language
- English
- Record Identifier
- 99564008202621
- Output Type
- Journal article
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