Jumping from Springboard? The Role of Marginal Cultural Distance in Cross-Border M&A Deal Completion

2015 ◽  
Vol 58 (6) ◽  
pp. 527-536 ◽  
Author(s):  
Manish Popli ◽  
Vikas Kumar
Keyword(s):  
Cultural Distance ◽  
Cross Border ◽  
Deal Completion

Reconceptualizing cultural distance: The role of cultural experience reserve in cross-border acquisitions

2016 ◽  
Vol 51 (3) ◽  
pp. 404-412 ◽  
Author(s):  
Manish Popli ◽  
Mohammad Akbar ◽  
Vikas Kumar ◽  
Ajai Gaur
Keyword(s):  
Cultural Distance ◽  
Cultural Experience ◽  
Cross Border

scholarly journals Confucius Institute and the Completion of Chinese Cross-Border Acquisitions

2019 ◽  
Vol 11 (18) ◽  
pp. 5088 ◽  
Author(s):  
Ouyang ◽  
Li
Keyword(s):  
Cultural Distance ◽  
Macro Level ◽  
Host Countries ◽  
Firm Level ◽  
Confucius Institute ◽  
Cross Border ◽  
Country Level ◽  
Using Data ◽  
Global Platform

As a global platform for cultural exchange, the Confucius Institute (CI) has effectively promoted sustainable development among countries and regions. However, existing literature has mostly drawn insights from the national macro-level to study the roles played by CIs, whereas the potential of CIs to influence corporate behaviors has not received extensive attention. This study expands the research on CIs from the national macro-level to the enterprise micro-level by exploring the effect of CIs on the likelihood of acquisition completion. Using data from 1695 Chinese cross-border acquisitions from 2006 to 2017, we find that establishment of CIs can significantly increase acquisition completion likelihood. Furthermore, the level of influence of CIs on acquisition completion depends on country- and firm- level factors. At the country level, the positive effect of CIs on completion likelihood intensifies when cultural distance between host countries and China is great. At the firm level, the acquirer’s past cross-border acquisition experience moderates the effects of CIs, which are more beneficial to firms with no previous successes. In addition, we have made some further analyses, and find that the presence of CIs not only helps to increase the likelihood of acquisitions completion, but also helps to shorten the acquisition durations. The role of CIs in cross-border acquisition completion likelihood do not depend on the types of Chinse enterprises, which indicates that CIs, unlike government agencies, do not offer additional help for SOEs.

scholarly journals The Role of Confucius Institutes and One Belt, One Road Initiatives on the Values of Cross-Border M&A: Empirical Evidence from China

2020 ◽  
Vol 12 (24) ◽  
pp. 10277
Author(s):  
Jin-Young Jung ◽  
Wei Wang ◽  
Sung-Woo Cho
Keyword(s):  
Negative Impact ◽  
Positive Impact ◽  
Cultural Distance ◽  
Cross Border ◽  
Long Run ◽  
One Belt One Road ◽  
Negative Effect ◽  
Confucius Institutes

This study examines how national cultural policies such as Confucius Institutes and One Belt, One Road initiatives (BRI) affect the post-acquisition returns of Chinese cross-border mergers and acquisitions based on data from a sample of 192 transactions covering 2011 to 2015. We find that the cultural export of Chinese Confucius Institutes and the BRI exert a significantly positive impact on long-term acquirer returns, while cultural/institutional distance exerts a negative impact. Further evidence shows that Confucius Institutes and BRI mitigate the negative effect of cultural distance between merging firms. These results offer the first evidence that national cultural translation has substantial impacts on the long-run acquirer financial performance of cross-border mergers that decrease cultural institutional heterogeneity between countries.

scholarly journals Pay for Being Responsible: The Effect of Target Firm’s Corporate Social Responsibility on Cross-Border Acquisition Premiums

2019 ◽  
Vol 11 (5) ◽  
pp. 1291 ◽  
Author(s):  
Lu Qiao ◽  
Jianfeng Wu
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Cultural Distance ◽  
Institutional Distance ◽  
Target Firm ◽  
Socially Responsible ◽  
Cross Border ◽  
Acquisition Premium ◽  
Corporate Social

This study examines the effect of a target firm’s corporate social responsibility (CSR) on its cross-border acquisition premium. Building upon the resource-based view and the institutional theory, we argue that the target firm’s CSR positively affect the cross-border acquisition premium, while institutional distance, cultural distance, and the number of fellow acquisitions moderate the above relationship. Hypotheses are tested in a sample of 252 cross-border acquisitions between 1991 and 2016. Empirical findings show that an acquirer is more likely to pay a higher acquisition premium when acquiring a socially responsible target firm; furthermore, such an effect weakens as institutional distance, cultural distance, and the number of fellow acquisitions increase. This study extends existing research on the importance of CSR as a strategic asset and sheds new light on the role of CSR played in the setting of cross-border acquisitions.

scholarly journals Gender difference in the effect of cultural distance on academic performance among cross-border students in China

2021 ◽  
Vol 34 (1) ◽  
Author(s):  
Jieyi Hu ◽  
Chau Kiu Cheung
Keyword(s):  
Academic Performance ◽  
Gender Difference ◽  
Role Theory ◽  
Cultural Distance ◽  
Female Students ◽  
Cross Border ◽  
Cultural Adaption ◽  
Perceived Cultural Distance ◽  
Distance Finding

AbstractCross-border students’ academic performance draws people’s attention, whereas perceived cultural distance might influence their performance with gender difference. Based on role theory, men and women present different roles in society, and women are good at perceptual, cognitive aspects, making them more sensitive to cultural distance. Finding shows that the negative moderation role of gender existed in the relationship between cultural distance and academic performance. Particularly, female students showed lower cultural adaptation after cross-border migration, which then influenced their academic performance in universities. This study provides implication for policymakers and universities to pay more attention with additional resources to support female students’ cultural adaption.

TERRITORIAL COHESION POLICY IN THE CONTEXT OF EU REGIONAL SECURITY

2019 ◽  
Vol 18 (Vol 18, No 4 (2019)) ◽  
pp. 439-453
Author(s):  
Ihor LISHCHYNSKYY
Keyword(s):  
European Union ◽  
Sustainable Development ◽  
Regional Security ◽  
The European Union ◽  
Cohesion Policy ◽  
Cross Border ◽  
Territorial Cohesion ◽  
Interregional Cooperation ◽  
The Eu

The article is devoted to the study of the implementation of territorial cohesion policy in the European Union in order to achieve a secure regional coexistence. In particular, the regulatory and institutional origins of territorial cohesion policy in the EU are considered. The evolution of ontological models of cohesion policy has been outlined. Specifically, the emphasis is placed on the key objective of political geography – effectively combining the need for "territorialization" and the growing importance of networking. The role of urbanization processes in the context of cohesion policy is highlighted. Cross-border dimensions of cohesion policy in the context of interregional cooperation are explored. Particular emphasis is placed on the features of integrated sustainable development strategies.

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