Cross-Border M&As in Related and Technology-Intensive Industries: Evidence on the Dynamics of Spatial Distance, Industry Context, and Completion Likelihood of International TakeoversLabbas, E., Rao Sahib, P. & Doan, T. T., 2018, Advances in Mergers and Acquisitions. Finkelstein, S. & Cooper, C. L. (eds.). Emerald Group Publishing Limited, Vol. 17. p. 75-93
Research output: Chapter in Book/Report/Conference proceeding › Chapter › Academic › peer-review
Many announced cross-border mergers and acquisitions (M&As) are never brought to completion despite potential negative consequences to acquirers and targets. This paper presented evidence on the dynamic effects of spatial distance and two industry-level characteristics, namely industry relatedness between the two firms and technological intensity, on the completion likelihood of cross-border M&A deals. Based on a sample of 8,489 M&A transactions we found that the completion likelihood of cross-border M&As increases with spatial distance. The effect is more pronounced for deals across technology-based industries, evidence for related deals is inconclusive.
|Title of host publication||Advances in Mergers and Acquisitions|
|Editors||Sydney Finkelstein, Cary L. Cooper|
|Publisher||Emerald Group Publishing Limited|
|Publication status||Published - 2018|