The post-acquisition performance of cross-border mergers and acquisitions conducted by Chinese firms in the high-tech industries: Profitable or innovative?

Yang, M. and Ai, Q. (2021) The post-acquisition performance of cross-border mergers and acquisitions conducted by Chinese firms in the high-tech industries: Profitable or innovative? Thunderbird International Business Review. 63(3), pp. 355-367. 1096-4762.

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Abstract:

This article examines the characteristics and performance of cross-border mergers and acquisitions (M&As) conducted by Chinese firms in the high-tech industries. Multiple measures of firm performance were used in exploring the profitability and innovativeness of both the acquiring and target firms. With 1,340 cross-border M&As completed between 1990 and 2014, the major characteristics of these deals (e.g., industries of acquiring firms, countries of target firms, and the level of ownership) were identified. In terms of the performance of acquiring and target firms, the value creation hypothesis was supported by the innovation measure; however, it was not supported by accounting-based measures. The implications of this study and directions for future research are thus discussed.

Uncontrolled Keywords:

Chinese firms, high-tech industries, innovativeness, performance of cross-border M&As, profitability, Political Science and International Relations, Geography, Planning and Development, Business and International Management

Creators:

Yang, M. and Ai, Q.

Faculties, Divisions and Institutes:

Faculties > Faculty of Business & Law > International Strategy & Business

Date:

12 April 2021

Date Type:

Publication

Page Range:

pp. 355-367

Journal or Publication Title:

Thunderbird International Business Review

Volume:

Number:

Number of Pages:

Language:

English

DOI:

10.1002/tie.22192

ISSN:

1096-4762

Status:

Published / Disseminated

Refereed:

Yes

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