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sidenav header background[5月20日]管理学workshop
发布日期：2019-05-16 02:50 来源：
Time: May 20, 2019 (Monday) 10:00-12:00
Location: Zhifuxuan Meeting Room, National School of Development, Peking University
（北京大学国家发展研究院，致福轩会议室）
Speaker:Prof. Yan GAO
The impact of business groups and institutions on cross-border M&As deal completion and duration
Abstract
Business groups (BGs) are important organization structures in the world, especially in emerging economies, but research is lacking as to how group affiliations affect the internationalization of affiliated firms. We tried to fill this research gap by exploring the influence of group affiliations on cross-border M&A deal completion and duration. From the view of information economies and internal capital market, we propose that BGs server as information intermediary to facilitate deal completion: group-affiliated firms experience a high likelihood of acquisition completion and a shorter duration for completing a deal than non-affiliated firms. Moreover, we examine and find that the positive influence of group affiliations on deal completion and duration is contingent on the institutional quality of the host countries. As the institutional quality of the host country improves, the role of group affiliation as information source becomes less critical. The advantage of being affiliated with groups on accessing reliable and accurate information about the targets decreases. We test the hypotheses using a sample of Chinese cross-border M&As from 2003-2017.
About the Speaker
Yan GAO is an Associate Professor of Business Management at the College of Business, Shanghai University of Finance and Economics. She received her PhD in Strategy from University of Texas, El Paso. Prior to joining Shanghai University of Finance and Economics, she worked as an Assistant Professor of Strategy at John Carroll University. Her research focuses on international strategy, business group, and cross-border M&As. Her research has been published in academic journals such as Strategic Management Journal, and Journal of Business Research.
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首页
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教学项目展开 / 收起
sidenav background教学项目
sidenav header background[5月20日]管理学workshop
发布日期：2019-05-16 02:50 来源：
Time: May 20, 2019 (Monday) 10:00-12:00
Location: Zhifuxuan Meeting Room, National School of Development, Peking University
（北京大学国家发展研究院，致福轩会议室）
Speaker:Prof. Yan GAO
The impact of business groups and institutions on cross-border M&As deal completion and duration
Abstract
Business groups (BGs) are important organization structures in the world, especially in emerging economies, but research is lacking as to how group affiliations affect the internationalization of affiliated firms. We tried to fill this research gap by exploring the influence of group affiliations on cross-border M&A deal completion and duration. From the view of information economies and internal capital market, we propose that BGs server as information intermediary to facilitate deal completion: group-affiliated firms experience a high likelihood of acquisition completion and a shorter duration for completing a deal than non-affiliated firms. Moreover, we examine and find that the positive influence of group affiliations on deal completion and duration is contingent on the institutional quality of the host countries. As the institutional quality of the host country improves, the role of group affiliation as information source becomes less critical. The advantage of being affiliated with groups on accessing reliable and accurate information about the targets decreases. We test the hypotheses using a sample of Chinese cross-border M&As from 2003-2017.
About the Speaker
Yan GAO is an Associate Professor of Business Management at the College of Business, Shanghai University of Finance and Economics. She received her PhD in Strategy from University of Texas, El Paso. Prior to joining Shanghai University of Finance and Economics, she worked as an Assistant Professor of Strategy at John Carroll University. Her research focuses on international strategy, business group, and cross-border M&As. Her research has been published in academic journals such as Strategic Management Journal, and Journal of Business Research.
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