This paper examines the importance of institutional quality in cross-border buyout performance. Using 2,639 cross-border buyout investments during 1998-2007 in 38 countries, we find that the higher the institutional quality of the country where the portfolio company is located, the higher the...

This paper examines how political corruption affects M&A activities. By exploiting the public enforcement of the anti-corruption campaign across different regions in China, we find in a difference-in-difference (DID) setting that the reduction in corruption increases cross-region takeover...