 Does corporate social responsibility affect the performance of cross-border M&A of emerging market multinationals?Hong-yan Li, Ruiqing He and Qiang Fu Finance Research Letters, 2023, vol. 58, issue PA Abstract: How can emerging market multinationals (EMMs) overcome the outsider disadvantage and thus improve performance of cross-border Mergers and acquisitions(M&A)? This article discussed that corporate social responsibility(CSR) has influence on performance of cross-border M&A under regulation of institutional distance, to address this inquiry based on the theory of social license to operate, We empirically demonstrate that:(1) corporate social responsibility has remarkable forward correlation with completion rate of cross-border M&A, while corporate social responsibility has a strong negative influence on the length of time spent on completing cross-border M&A, indicating corporate social responsibility is beneficial to enhance the performance of cross-border M&A; (2) Large institutional distance between cross-border M&A parties can diminish the strong positive influence of corporate social responsibility on performance of cross-border M&A of EMMs. Keywords: Corporate social responsibility(CSR); Social license to operate; Performance of cross-border Mergers and acquisitions(M&A); Institutional distance; Emerging market multinationals (EMMs) (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:58:y:2023:i:pa:s154461232300692x DOI: 10.1016/j.frl.2023.104320 Access Statistics for this article Finance Research Letters is currently edited by R. Gençay More articles in Finance Research Letters from Elsevier |
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