We show that it is a signal of deal quality in cross-border M&A if acquirers have private equity firms as owners (‘PE backing'). As such, announcements of cross-border M&A deals by PE-backed acquirers are associated with positive stock price reactions, but only if targets are in poor...

Cross-border mergers and acquisitions (CBMAs) have long been used as an important strategy for firms' international strategic expansion. Thus, CBMAs have become an increasingly important approach utilized by a large number of firms in multiple regions across the globe. It has gained in...

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 the recent upsurge in foreign acquisitions of U.S. firms, specifically focusing on acquisitions made by firms located in emerging markets. Neoclassical theory predicts that, on net, capital should flow from countries that are capital-abundant to countries that are...

We study the post acquisition R&D of both targets and acquirers involved in cross-border acquisitions by developing and estimating a two equation model that explicitly accounts for cross-border knowledge flows. We employ a sample of 3,243 firm-year observations, representing 299 cross-border...

We study the effects of changes in organizational form on firm performance and management turnover. Our analysis sheds light on whether there are gains to be exploited by transitioning from product market relationships such as joint ventures to wholly owned subsidiaries through mergers and...

Among other reasons, the aim to gain efficiency and increasing profitability are generally cited as important reasons for the firms to undergo mergers. Mergers and Acquisitions (M&As) have been considered as an important means through which companies can achieve economies of scale, remove...

The choice of legal form affects many aspects of the company's operation and is one of the key decisions that an entrepreneur must make. In this article, we conduct a comparative analysis of six legal forms of companies in terms of efficiency, indebtedness, growth and risk. Based on 72,596...