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Do market, resource and knowledge distance impact inbound cross-border acquisition?

Raghavendra Chandrika, Taimur Sharif, Rampilla Mahesh, Miklesh Prasad Yadav, Abedin Abedin

Global Finance Journal, Volume: 57, Start page: 100862

Swansea University Author: Abedin Abedin

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DOI (Published version): 10.1016/j.gfj.2023.100862

Abstract

With the increasing phenomena of cross-border acquisition (CBA) activities in emerging economies (EE), evidence about “distance” factors that make these economies attractive to home country firms is sparse. Given this background, we employ major locational advantage distance measures such as market,...

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Published in: Global Finance Journal
ISSN: 1044-0283 1873-5665
Published: Elsevier BV 2023
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URI: https://cronfa.swan.ac.uk/Record/cronfa63704
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first_indexed 2023-06-26T09:59:14Z
last_indexed 2023-06-26T09:59:14Z
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spelling v2 63704 2023-06-26 Do market, resource and knowledge distance impact inbound cross-border acquisition? 4ed8c020eae0c9bec4f5d9495d86d415 Abedin Abedin Abedin Abedin true false 2023-06-26 BAF With the increasing phenomena of cross-border acquisition (CBA) activities in emerging economies (EE), evidence about “distance” factors that make these economies attractive to home country firms is sparse. Given this background, we employ major locational advantage distance measures such as market, resource, and knowledge distances and examine their impact on the value and number of inbound CBAs in India. We source inbound CBA deal data from the Thomson Reuters Eikon database for the 1990–2020 period during which 47 home countries were making acquisitions of targets in India. We develop relevant hypotheses based on a literature review. We run tobit and negative binomial regression models on a final sample of 921 country-pair-year observations to test the hypotheses. The results show that increasing market and knowledge distances enhanced the value and number of India's inbound CBAs, fueled by the country's growth potential and knowledge base. However, we find no evidence of a role played by resource distance. Journal Article Global Finance Journal 57 100862 Elsevier BV 1044-0283 1873-5665 Cross-border acquisitions, Knowledge distance, Locational advantage, Market distance, Resource distance 1 7 2023 2023-07-01 10.1016/j.gfj.2023.100862 http://dx.doi.org/10.1016/j.gfj.2023.100862 COLLEGE NANME Accounting and Finance COLLEGE CODE BAF Swansea University SU Library paid the OA fee (TA Institutional Deal) Swansea University 2023-08-07T15:53:37.5118638 2023-06-26T10:52:49.0770287 Faculty of Humanities and Social Sciences School of Management - Accounting and Finance Raghavendra Chandrika 1 Taimur Sharif 2 Rampilla Mahesh 3 Miklesh Prasad Yadav 4 Abedin Abedin 5 63704__28102__14f60af69c62428e85f34db157fcb1a4.pdf 63704.pdf 2023-07-12T15:52:26.4006958 Output 838072 application/pdf Version of Record true © 2023 The Authors. Published by Elsevier Inc. Distributed under the terms of a Creative Commons Attribution 4.0 License (CC BY 4.0). true eng http://creativecommons.org/licenses/by/4.0/
title Do market, resource and knowledge distance impact inbound cross-border acquisition?
spellingShingle Do market, resource and knowledge distance impact inbound cross-border acquisition?
Abedin Abedin
title_short Do market, resource and knowledge distance impact inbound cross-border acquisition?
title_full Do market, resource and knowledge distance impact inbound cross-border acquisition?
title_fullStr Do market, resource and knowledge distance impact inbound cross-border acquisition?
title_full_unstemmed Do market, resource and knowledge distance impact inbound cross-border acquisition?
title_sort Do market, resource and knowledge distance impact inbound cross-border acquisition?
author_id_str_mv 4ed8c020eae0c9bec4f5d9495d86d415
author_id_fullname_str_mv 4ed8c020eae0c9bec4f5d9495d86d415_***_Abedin Abedin
author Abedin Abedin
author2 Raghavendra Chandrika
Taimur Sharif
Rampilla Mahesh
Miklesh Prasad Yadav
Abedin Abedin
format Journal article
container_title Global Finance Journal
container_volume 57
container_start_page 100862
publishDate 2023
institution Swansea University
issn 1044-0283
1873-5665
doi_str_mv 10.1016/j.gfj.2023.100862
publisher Elsevier BV
college_str Faculty of Humanities and Social Sciences
hierarchytype
hierarchy_top_id facultyofhumanitiesandsocialsciences
hierarchy_top_title Faculty of Humanities and Social Sciences
hierarchy_parent_id facultyofhumanitiesandsocialsciences
hierarchy_parent_title Faculty of Humanities and Social Sciences
department_str School of Management - Accounting and Finance{{{_:::_}}}Faculty of Humanities and Social Sciences{{{_:::_}}}School of Management - Accounting and Finance
url http://dx.doi.org/10.1016/j.gfj.2023.100862
document_store_str 1
active_str 0
description With the increasing phenomena of cross-border acquisition (CBA) activities in emerging economies (EE), evidence about “distance” factors that make these economies attractive to home country firms is sparse. Given this background, we employ major locational advantage distance measures such as market, resource, and knowledge distances and examine their impact on the value and number of inbound CBAs in India. We source inbound CBA deal data from the Thomson Reuters Eikon database for the 1990–2020 period during which 47 home countries were making acquisitions of targets in India. We develop relevant hypotheses based on a literature review. We run tobit and negative binomial regression models on a final sample of 921 country-pair-year observations to test the hypotheses. The results show that increasing market and knowledge distances enhanced the value and number of India's inbound CBAs, fueled by the country's growth potential and knowledge base. However, we find no evidence of a role played by resource distance.
published_date 2023-07-01T15:53:33Z
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