We examine the relationship between national cultural distance and equity participation using an analysis of a sample of more than 100,000 cross-border acquisitions from 1976 to 2008. We find that cultural distance has a curvilinear (U shaped) relationship with equity participation: Acquiring...

Purpose – This research aims to examine the role of national culture dimensions in the nature of tier competition between high-tier brands and low-tier brands. Design/methodology/approach – It starts with a conceptual framework based on prospect theory to explain the asymmetric inter-tier...