Do Conforming to State-Directed Investment Policies in Emerging Countries Create Value for Acquiring Firms

Boateng, Agyenim; Du, Min

Abstract

In this paper we explore whether firms conforming to state-directed investment policy creates value in the short-term for emerging market acquiring firms. Employing a sample of 468 Chinese cross-border acquisitions (CBA) over the period of 1998-2011, our results indicate that firms conforming to state-directed investment policies create value for acquiring firms irrespective of ownership type. The findings imply that home country investment policies do not only shape international expansion strategies of firms but also provide opportunities for significant value-creating activities, which correlate positively with market expectations.

Citation

Boateng, A., & Du, M. (2019, October). Do Conforming to State-Directed Investment Policies in Emerging Countries Create Value for Acquiring Firms. Paper presented at Vietnam Symposium in Banking and Finance, Hanoi, Vietnam

• Presentation Conference Type: Conference Paper (unpublished)
• Conference Name: Vietnam Symposium in Banking and Finance
• Start Date: Oct 24, 2019
• End Date: Oct 26, 2019
• Deposit Date: Nov 30, 2022
• Public URL: http://researchrepository.napier.ac.uk/Output/2967906
• Publisher URL: https://vsbf2019.sciencesconf.org/resource/page/id/2