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

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

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.

Citation

Ding, S., Du, M., Cui, T., Zhang, Y., & Duygun, M. (2019, October). Impact of Board Structure on Chinese Firms' Cross- Border M&A Performance. 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• Presentation Conference Type: Conference Paper (unpublished)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
• Conference Location: Hanoi, Vietnam
• 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