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논문검색

중국회사의 해외인수합병 성과에 미치는 제도적 거리의 영향력에 관한 연구

원문정보

Influence of institutional distance on Chinese firms’ performance after cross-border M&A

박용석, 진굉, 양이

피인용수 : 0(자료제공 : 네이버학술정보)

초록

영어

We analyzed the performance of Chinese firms after cross-border M&A (CBM&A) from an institutional perspective. Based on the features of Chinese firms’ CBM&A, institutional distance and state ownership are examined, which are two core variables of the institutional view. In this study, 198 CBM&As undertaken by Chinese firms between 2000 and 2010 were examined. The results indicate that institutional distance has a negative impact on the performance of Chinese firms after CBM&A. Both state ownership and international experience have positive effects on firm performance after CBM&A; however, institutional distance has a negative moderating effect on these positive relationships. The institutional perspective may explain the poor performance of Chinese firms after CBM&A. Discussion of our results yields various implications.

목차

Abstract
 Ⅰ. Introduction
 Ⅱ. Literature Review
 Ⅲ. Hypotheses Development
 Ⅳ. Methodology
 Ⅴ. RESULTS
 Ⅵ. DISCUSSION AND CONCLUSIONS
 References

저자정보

  • 박용석 Yong Suhk Pak. 연세대학교 국제경영 교수
  • 진굉 Hong Chen. 연세대학교 국제경영 석사졸업
  • 양이 Yi Yang. 연세대학교 국제경영 박사과정

참고문헌

자료제공 : 네이버학술정보

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