Investors’ Protection and Performance of Cross-Border Mergers and Acquisitions—An Empirical Study Based on Chinese Listed Enterprises

2018 ◽  
pp. 1735-1748
Author(s):  
Haiyue Liu ◽  
Jie Jiang ◽  
Lei Jin ◽  
Yingkai Tang
Keyword(s):  
Empirical Study ◽  
Mergers And Acquisitions ◽  
Cross Border ◽  
And Performance

scholarly journals Perceptions of justice and organisational commitment in international mergers and acquisitions

2017 ◽  
Vol 34 (5) ◽  
pp. 582-605 ◽  
Author(s):  
Emanuel Gomes ◽  
Kamel Mellahi ◽  
Sunil Sahadev ◽  
Amy Harvey
Keyword(s):  
Mergers And Acquisitions ◽  
Market Entry ◽  
Strong Association ◽  
Foreign Market ◽  
Foreign Market Entry ◽  
Organisational Commitment ◽  
Entry Modes ◽  
Content Type ◽  
Cross Border ◽  
And Performance

Purpose Although there is substantial and accumulating evidence on the link between market entry modes and performance, evidence regarding their impact on employee’s perceptions and thereby their commitment is scarce. This is more so in mergers and acquisitions (M&As) where employee’s commitment has a significant impact on post-entry performance. The purpose of this paper is to examine the association between perceptions of justice and organisational commitment in cross-border M&As. Design/methodology/approach The authors draw on market entry and M&As’ literature and studies on the link between perception of justice and commitment to develop the hypotheses. The authors test the hypotheses with survey data from a merger of two culturally different partners – British and Japanese. A total of 128 responses were received, out of a sample of 151 non-managerial employees within the firm. Findings The results show a strong association between employees’ perceptions of justice during the merger and commitment to the new organisation. Surprisingly, the results do not support the widely reported interaction effects between different organisational justices and employees’ commitment. Research limitations/implications Obtaining data from a single M&A is a potential limitation of this study. Practical implications The study underscores the importance of post-market entry. The results suggest that particular attention needs to be paid to the way employees of the acquired firm are treated during their interactions with their counterparts. Originality/value The link between market entry and performance is well documented. However, little progress has been made in understanding the antecedents/factors that influence commitment in foreign market entry and in particular cross-border M&As. This study helps close this gap.

The Rule of Law and Acquisitions and Risk Prevention in the Process of Cross-Border Mergers

2014 ◽  
Vol 670-671 ◽  
pp. 1583-1587
Author(s):  
Wen Liu ◽  
Li Xu
Keyword(s):  
Mergers And Acquisitions ◽  
Capital Operation ◽  
Chinese Enterprises ◽  
The Rule Of Law ◽  
Cross Border ◽  
Legal Risks ◽  
Information Law ◽  
And Performance ◽  
Reform And Opening Up ◽  
Opening Up

With the deepening of economic globalization and China's reform and opening up, many outstanding enterprises in China to own a certain amount of funds available to invest overseas acquisitions, hopes to get their own competitiveness improvement through overseas acquisitions. Cross-border mergers and acquisitions is the capital operation of a high-risk activities, enterprises will face risks in various areas such as decision-making, finance, information , law. Circumvention of legal risks is the key to the success of cross-border mergers and acquisitions of enterprises. The author analyzes an overview of the legal risks in cross-border mergers and acquisitions of Chinese enterprises, the characteristics and performance of the way, and thus how to avoid risks form the external environment and internal strategic countermeasures.

Relationship between Cross-Border Mergers and Acquisitions and International Trade: The Case of Russian Pharmaceutical Industry

2020 ◽  
pp. 81-94
Author(s):  
Alexandra V. Chugunova ◽  
Olga A. Klochko
Keyword(s):  
International Trade ◽  
Mergers And Acquisitions ◽  
Volume Growth ◽  
Pharmaceutical Products ◽  
Pharmaceutical Companies ◽  
Cross Border ◽  
Export Volume ◽  
Relationship Of ◽  
Geographical Diversification ◽  
The Relationship

This research studies the relationship of cross-border mergers and acquisitions to international trade through the lens of Russian pharmaceutical market. To this aim, the study analyses the woks of foreign economists dedicated to evaluating the link between foreign direct investment and international trade, and the influence of mergers and acquisitions on countries’ export and import flows. The research also presents a correlation analysis between the volume of Russian pharmaceutical exports and imports and cross-border deals performed by foreign pharmaceutical companies in Russia. We characterize these deals and conduct a comparative analysis of the regional structure of Russian pharmaceutical exports and imports as well as of the countries of origin of buyers in cross-border mergers and acquisitions. The results of the analysis indicate a positive relationship between cross-border mergers and acquisitions and Russian pharmaceutical exports, which is reflected in the export volume growth and its geographical diversification. However, it is outlined that particular problems of the industry hinder the amelioration of Russian positions in international exports. Similarly, the relationship between cross-border deals and Russian imports is positive: the major pharmaceutical products supply flow occurs from the countries of origin of buyers in cross-border mergers and acquisitions conducted in the Russian pharmaceutical sector.

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