How do strategic and financial buyers influence performance in cross-border acquisitions ?

Alfredo Valentino, Ulrike Mayrhofer () and Eleonora Fracassi
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Alfredo Valentino: ESCE International Business School, INSEEC U. Research Center
Ulrike Mayrhofer: GRM - Groupe de Recherche en Management - EA 4711 - UNS - Université Nice Sophia Antipolis (1965 - 2019) - UniCA - Université Côte d'Azur
Eleonora Fracassi: LUISS Business School

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Abstract: In this paper, we investigate how the type of buyer can influence cross-border acquisition performance. We combine the resource-based view (RBV) with the institutional change framework to provide a more comprehensive understanding of post-acquisition performance. Using a dataset of 234 cross-border acquisitions, we find that both strategic and financial buyers have a positive effect on the performance of the target firm. Our findings suggest that strategic buyers positively affect the innovative performance whereas financial buyers positively affect the economic performance of target firms.

Keywords: Cross-border acquisitions; innovative performance; economic performance; institutional change; host country environment (search for similar items in EconPapers)
Date: 2020-12-10
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Published in 46th EIBA (European International Business Academy) Conference, Dec 2020, Online, Austria

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-03547685

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