Cross-border mergers and acquisitions (CBMAs) have long been used as an important strategy for firms' international strategic expansion. Thus, CBMAs have become an increasingly important approach utilized by a large number of firms in multiple regions across the globe. It has gained in...

This study examines the synergy and internalization hypotheses for international acquisitions using a sample of Australian companies with particular focus on the relationship between the synergistic gains and R&D capabilities of both the acquirer and target. We focus on three research questions:...

One of the most consequential events in any firm’s lifetime is a major acquisition. Because of their importance, mergers and acquisitions (M&As) have been an enormous area of research. However, the vast majority of this research and survey papers summarizing this research have focused on...

Using a sample of Chinese public companies initiating cross-border mergers and acquisitions (M&As) from 2008 to 2015, we examine whether fraud revelations by regulators affect corporate cross-border M&As. We find that acquirers with a history of fraud are less likely to complete cross-border...

This paper analyzes the effects of cross-border mergers and acquisitions (M&As) on the innovation of European firms. The results indicate a considerable increase in post-acquisition innovation in the merged entity. This is mainly driven by inventors based in the acquirer's country, while...

We develop a model of foreign direct investment (FDI) in which financially liquid foreign firms acquire liquidity-constrained target firms. Using a large dataset of emerging-market acquisitions, we find evidence supporting three central predictions of the model: (i) firms in external finance...