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- W1485249942 abstract "Purpose – The purpose of this paper is to examine Chinese firms’ long-term value creation derived from cross-border mergers and acquisitions (CBMAs). Design/methodology/approach – The authors collected a sample of 140 CBMAs conducted by Chinese firms listed in Shenzhen and Shanghai stock markets between 1997 and 2010. Long-horizon event study methodology was used to test hypotheses. Findings – The authors find Chinese firms gain long-term value from CBMAs. In particular, the authors find that Chinese firms tend to gain more value from targets from developed countries, and Chinese state-owned firms are more capable of gaining value from CBMAs than Chinese private firms. Originality/value – Given Chinese firms are increasingly acquiring targets outside of China in recent years, it is still unclear about whether Chinese firms gain value from these very expensive cross-border deals. This is one of the first studies that address the question: What are the long-term performance outcomes of Chinese CBMAs in recent years?" @default.
- W1485249942 created "2016-06-24" @default.
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- W1485249942 date "2015-08-03" @default.
- W1485249942 modified "2023-09-26" @default.
- W1485249942 title "The long-term performance of cross-border mergers and acquisitions" @default.
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- W1485249942 doi "https://doi.org/10.1108/cms-10-2013-0193" @default.
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