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Does corporate social responsibility affect the performance of cross-border M&A of emerging market multinationals?

Author

Listed:
  • Li, Hong-yan
  • He, Ruiqing
  • Fu, Qiang

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.

Suggested Citation

  • Li, Hong-yan & He, Ruiqing & Fu, Qiang, 2023. "Does corporate social responsibility affect the performance of cross-border M&A of emerging market multinationals?," Finance Research Letters, Elsevier, vol. 58(PA).
    • Handle: RePEc:eee:finlet:v:58:y:2023:i:pa:s154461232300692x
    DOI: 10.1016/j.frl.2023.104320
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