Education, Science, Technology, Innovation and Life
Open Access
Sign In

Cost Theory Analysis of Chinese Enterprises' Cross-Border m & a in One Belt & One Road Countries -- Based on Transaction Cost and Resource Theory

Download as PDF

DOI: 10.23977/ferm.2021.040403 | Downloads: 14 | Views: 902

Author(s)

Xiang Xiao 1

Affiliation(s)

1 School of Accounting, Southern College, Guangzhou, 510000, China

Corresponding Author

Xiang Xiao

ABSTRACT

As One Belt and One Road (OBOR)spans 6 economic belts and 65 countries, business will inevitably encounter merger and acquisition (M & A), which are likely different from those of developed countries. Various factors such as national strength, institution, industry, companies, and timing would eventually lead to differences in the cost of merger and acquisition. This study is to establish a differential analysis model about merger cost in the context of One Belt and One Road cross-border acquisition by Chinese enterprises, providing reference for relevant researchers and realistic executors.

KEYWORDS

Belt and road, Cross-border m & a, Cost differences

CITE THIS PAPER

Liu  Wen. Cost Theory Analysis of Chinese Enterprises' Cross-Border m & a in One Belt & One Road Countries -- Based on Transaction Cost and Resource Theory. Financial Engineering and Risk Management (2021) 4: 26-32. DOI: http://dx.doi.org/10.23977/ferm.2021.040403.

REFERENCES

[1] A Delios, AS Gaur, S Makino. 2008. The timing of international expansion: Information, rivalry and imitation among Japanese firms, 1980–2002.Journal of Management Studies, 45(1):169~195
[2] Coase, Ronald H. 1937. “The Nature of the Firm.” Economica. November, 4, pp.
[3] 386–405.
[4] J.J. Li, L. Poppo, K.Z. Zhou.2008.Do managerial ties in China always produce value? Competition, uncertainty, and domestic vs. foreign firms.Strategic Management Journal, 29 (4):383–400
[5] J. Wu, X. Chen,2014.Home country institutional environments and foreign expansion of emerging market firms.International Business Review, 23: 862–872
[6] D.C. North.1190.Institutions, institutional change, and economic performance. Cambridge University Press, New York, NY (1990)
[7] Keith D.Brouthers.2002.Institutional, Cultural and Transaction Cost Influences on Entry Mode Choice and Performance. Journal of International Business Studies 33(3): 203–221
[8] Homberg, F., Rost, K., & Osterloh, M. 2009. Do synergies exist in related acquisitions? a meta- analysis of acquisition studies. Review of Managerial Science, 3(2), 75–116
[9] M.W. Peng, D.Y.L. Wang, Y. Jiang .2008.An institution based view of international business strategy: A focus on emerging economies.Journal of International Business Studies, 39 (5):  920–936
[10] Pfeffer, Jeffrey and Gerald R. Salancik .1978. The External Con- trol of Organizations: A Resource Dependence Approach. New York: Harper and Row Publishers, Inc.
[11] W.E. Fulmer.Shaping the adaptive organization: Landscapes, learning, and leadership in volatile times.2008.AMACOM Books, New York (2000)
[12] Williamson, Oliver E. 1985. The Economic Institutions of Capitalism. New York: Free Press.
[13] Zhang J, Ebbers H .2010. Why half of China’s overseas acquisitions could not be completed. Journal of  Current Chinese Affair, 39(2):101–131
[14] Uhlenbruck, K. and De Castro, J. .1998.‘Privatization from the acquirer's perspective: a mergers and acquisitions based framework’. Journal of Management Studies, 35: 619–640

Downloads: 15888
Visits: 330182

All published work is licensed under a Creative Commons Attribution 4.0 International License.

Copyright © 2016 - 2031 Clausius Scientific Press Inc. All Rights Reserved.