 How does economic policy uncertainty affect cross-border M&A: Evidence from Chinese firmsWanli Li, Yueying Su and Kaixiu Wang Emerging Markets Review, 2022, vol. 52, issue C Abstract: Based on the data of Chinese cross-border mergers and acquisitions in 29 countries from 2008 to 2017, we adopt the index of world economic policy uncertainty constructed by Baker et al. (2016) to empirically test the impact of economic policy uncertainty triggered by financial crisis on the scale and performance of M&A behavior. The main conclusions are as follows: (1) Economic policy uncertainty in host country can significantly reduce the scale of cross-border M&A of Chinese enterprises. (2) The negative impact of economic policy uncertainty is more evident in non-state-owned enterprises. (3) Economic policy uncertainty in the host country has a U-shaped influence on short-term M&A performance of enterprises; (4) Economic policy uncertainty in host country has a negative impact on mid-term M&A performance of enterprises. Our results can provide reference for enterprise investment and home country policy. Keywords: Mergers and acquisitions; Economic policy uncertainty; Host country; Enterprise performance (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:ememar:v:52:y:2022:i:c:s1566014122000255 DOI: 10.1016/j.ememar.2022.100908 Access Statistics for this article Emerging Markets Review is currently edited by Jonathan A. Batten More articles in Emerging Markets Review from Elsevier |
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