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Impact of Board Structure on Chinese Firms' Cross- Border M&A Performance

Ding, Shusheng; Du, Min; Cui, Tianxiang; Zhang, Yongmin; Duygun, Meryem

Authors

Shusheng Ding

Tianxiang Cui

Yongmin Zhang

Meryem Duygun



Abstract

The impact of corporate board characteristics on firm performance continues to be an issue that has given risen to a set of polarizing corporate governance doctrines. In this paper, we identify the impact of corporate board characteristics on Chinese firms’ cross-border Mergers and Acquisition(M&A) performance. We unveil that female board proportion and board memberage diversity exhibit positive and significant effect on cross-border M&A performance, while board member education level difference plays a negative role on cross-border M&A performance. We further introduce an optimization model called Particle Swarm Optimization(PSO) to addressthe optimal board structure. We demonstrate that a better organized board structure, such as increasing female board presentation and board memberage diversity, could be in favor of cross-border M&A performance for Chinese firms.

Presentation Conference Type Conference Paper (unpublished)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/2967911
Publisher URL https://vsbf2019.sciencesconf.org/resource/page/id/2