2 synergy value from CBAs How do acquirers’ home country institutions influence the post-acquisition?">
宅男天堂

91香蕉app官网下载ios

Home > About > News & Events > News >

那曲寿亚隆设备有限公司

Time:2019-11-28 11:27:45  Hits:[]
Cross-border acquisitions (CBAs) have increasingly become one of the most important international strategies for firms to enhance their performance by quickly acquiring strategic resources globally, for instance, advanced technology and huge overseas markets. However, research shows that the failure rate of cross-border mergers and acquisitions is high, and about 70% of companies have not been able to achieve 1+1>2 synergy value from CBAs.


 
How do acquirers’ home country institutions influence the post-acquisition performance of CBAs?PHBS Associate Professor Zhu Hong and co-authors addressed this question in their paper “Home Country Institutions behind Cross-Border Acquisition Performance” recently published in the Journal of Management. The researchers developed an institutional framework consisting of the informal institutions’ collectivism and humane orientation, as well as the formal institutions’ shareholder orientation and property rights protection.
 
Zhu and her coauthors retrieved CBM deals across 50 countries from the SDC Platinum database –the world’s most comprehensive database of mergers and acquisitions – annual financial data for acquirers and targets from Datastream, home and host countries’ collectivism and humane orientation from the GLOBE study, and other information from various sources. Further, they advanced multilevel modeling to analyze 12,021 CBAs, and findings showed that informal and formal institutions not only have important individual effects but also jointly affect their firms’ post-acquisition performance.
 
Results show that collectivism and humane orientation in home countries can exert positive influences on post-acquisition performance. Shaped by home country collectivism and with a high level of humane orientation, acquirers which have managers who view their acquired targets as highly interdependent within their organizations are more likely to involve acquired targets in decision making in the post-acquisition integration process. Accordingly, acquired targets are more willing to collaborate with the acquirers in achieving post-acquisition value creation. In addition, their study highlights the joint influence of informal and formal institutions: informal institution influence can be weakened by incompatible formal institutions that hamper post-acquisition collaborative efforts.
 
In addition to significant theoretical contributions to the research of institutions and CBAs, this study offers important practical and public policy implications by clearly demonstrating the importance of institutions in firm strategies and development. The study further reinforces the importance of institutions in the development of firms and economies in China and throughout the world. The remarkable and successful institutional reforms in China, such as the on-going development of the Greater Bay Area and the Belt and Road Initiative have been buttressing the rapid and impressive economic rise of China.



Hong Zhu
Associate Professor
Ph.D., Strategic Management, Texas A&M University
Fields:Strategic management, Mergers and Acquisitions (M&As), Strategic leadership (CEO, Top management team and boards of directors), Chinese firms’ M&As and strategic leadership


By Annie Jin 
Edited by Priscilla Young

 

Popular Articles
Latest News
Campus Events
久久精品这里才是免费 极速影院 亚洲 AV 日本AV 韩国AV 图区 红色一片日本 柠檬网络电视免费频道TV 免费一区二区三区四区 黄页软件免费观看网站 非洲人高清免费视频 男女上下拱试看120秒免费 顶级片 欧美性爱视频 草莓app下载 小草社区官网在线观看 pr18社区 琪琪影院 590se在线观看 男女裸体做爱视频免费观看 2japanvoise教师 香草app下载 杨思敏版一级毛片 激情深爱网 免费国内大量揄拍在线视频 麻豆视频观看 妈妈的朋友3免费视频大全 翔田千里免费中文字幕 sexxxx 波萝蜜视频APP官方免费下载 樱井莉亚学生在线观看 嘿嘿连载APP swag 在线观看 爱我影院在线播放视频 成熟女性生殖真人实图 99热 茄子社区 泡芙约会 琪琪影院 女人把腿张起来让男人桶 秘密教学46 污视频疼到流污水 在线萝福利莉视频免费 性福宝在线 强奸图片 日出水来了太痒了 视频 黑帽门在线视频链接 mdpub麻豆在线 食色污app安卓 2828电影网 向日葵下载app视频免费最新 日本jazz亚洲护士 女生污污的视频,免费高清 年轻人片在线观看免费 秋葵视频 ae86福利 被同桌摸出水好爽视频 韩国a片 可以试看120分钟做受 美女销魂试看片 恋夜秀场全部排列表安卓请 榴莲视频app下载安装 龚玥菲之潘金逵在线观看 婷庭五情天 免费 翁公下面好涨视频 飘花伦理在手机观线 小姐黄直播 番茄社区app直播平台下载 年级的妈妈4 视频 菠萝蜜污污高清完整视频菠萝蜜app污污 丫头在动断里头了 豆奶短视频APP 宝宝福利吧在线新视野影视 扒开双腿猛进入在线观看 国产午夜精品视频在线播放 sexxxx 国产学生无码视频 xrk77向日葵视频app下载污污 手机在线观看视频 女人是男人的未来 ×关晓彤小说 冈本视频下载污版app免费 夜色t v在线播放 泷泽萝拉在线观看 95视频 全部AV免费手机在线观看 丫头在动断里头了 性饥渴情侣野战视频 毛片大全真人在线 扶老二官方 我与漂亮岳的性中文字幕 菠萝蜜app A一片 2japanvoise教师 yy8098 久久热国产 亚洲AV在线 琪琪影院 食色app污短视频网站 依恋app 欧美GV完整版视频网站 杏趣直播BD电影 水蜜蜜视频在线观看 铁牛视频下载app最新版 西瓜视频无线免费大全下载 凌晨6点26分中日打响第一枪 久草app 蜜柚视频app直播下载 sg111 男人的加油站秋葵app 久章草在线视频免费观看 swag贝拉在线观看 正在播放潮崎美亚AV播放 黑帽门在线视频链接 汤姆高清 蜜柚app一元夺星 在车上把她弄得死去活来 李宗瑞全集在线 年轻漂亮的邻居完整版 亚洲av在线 男女赤裸裸的做性视频 91精品视频 一区二区三区四区高清视频localhost 真实破99年171cm在线上部 茄子视频下载污app破解版 欧美makelove在线观看 小草观看免费直播 香蕉app官网 好看毛片 小草视频网站 顶级片 91精品视频 名优馆app官网下载新版 善良的小峓子在钱播放20 一本大道无线高清在线观看 神马888 深夜释放自己 kk44kk 农村妇女A片皮皮自由 麻豆传媒视频网站在线 花与蛇 m3 2012中文字幕视频 男女赤裸裸的做性视频 秋葵ios下载安装 人狗性交视频 tentacion高清照片 李宗瑞全集在线 奶茶视频app免费下载无限观看 李宗瑞全集 7m分类 精品大全免费 狱火重生在线观看免费 120秒小视频 肌肌桶肌肌出水视频 2012中文字幕视频 草莓app下载深夜释放自己 依恋视频 柠檬网 无码国产精品高清免费 四平青年1免费观看全集 影视大全2019在线 如何下载swag app 俄罗斯肥妇BBw 《十个字母》 2828电影网 龚玥菲之潘金逵在线观看 2019限制电影 17694精品视频在线观看 西瓜在线观看免费视频 在线播放中文HTMSFAX 不卡电影 非会员试看一分钟 恋夜秀场全部排列表安卓请 一本大道高清DVD在线播放www 2龙湖四平青年完整版2 亚洲 欧美 自拍 小说 图片 丝瓜视频I视频污app下载 免费嗨片直播网 久久热精品在线 暖暖完整版免费视频中文 百闻影视 老子电影院 把女的下面扒开添免费视频 抖阴app污 台湾早期A片在线播放 婷庭五情天 免费 机机桶机机免费观看 MAYA请确认 向日葵视频.app污下载安装ios md.pud麻豆传媒官网下载 真实破99年171cm在线上部 蘑菇视频污视频免费 想要app下载网站 露B直播 yezhulu备用地址24小时有效 半岛影视 久热久热免费视频中文字幕 免费国内大量揄拍在线视频 1769在线 亚洲 欧美 丝瓜影视下载app在线观看 农村乱婬故事 酒色国产在线视频 白雪公主~白雪姬 红杏视频app污 色色哒 无码人妻制服视频醉红楼 黑帽门在线观看 讯雷哥在线观看电视剧 李宗瑞全集 17694精品视频在线观看 11电影院 快狐官网下载最新 茄子短视频污抖音软件下载 杨思敏版一级毛片 China中国人AV在线观看 老富二代app官网下载 4不小心中出在岳中文字幕 醉红楼在线无吗 秋葵ios下载安装 波兰性大赛完整版视频 制服丝袜在线视频播放免费 ノ瀬アメリ东京热在线播放 我要看a片 从上亲到下,从里亲到外 波波电影 食色app成版人下载短视频 日本熟妇牲交视频 亚洲国产在线午夜视频无 免费yahoo日本高清在线观看 老子电影院 柠檬视频在线观看 8x8x在线视频最新版 2019 m.ovrrrxr.icu swag视频在线观看 亚洲快播