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Impact of board diversity on Chinese firms’ cross-border M&A performance: An artificial intelligence approach (2024)
Journal Article
Ding, S., Du, M., Cui, T., Zhang, Y., & Duygun, M. (in press). Impact of board diversity on Chinese firms’ cross-border M&A performance: An artificial intelligence approach. International Review of Economics and Finance, https://doi.org/10.1016/j.iref.2024.02.077

In this paper, we examine the impact of board demographic characteristics on Chinese firms’ cross-border Mergers and Acquisition (M&A) performance, especially the gender diversity of the board composition. We unveil that female board proportion exhib... Read More about Impact of board diversity on Chinese firms’ cross-border M&A performance: An artificial intelligence approach.

Navigating the nexus: Geopolitical risk, fossil energy prices, and European utility stock returns - Implications for environmental management and energy security in a conflict-ridden global landscape (2024)
Journal Article
Yang, T., Fang, S., Du, A. M., & Du, Q. (2024). Navigating the nexus: Geopolitical risk, fossil energy prices, and European utility stock returns - Implications for environmental management and energy security in a conflict-ridden global landscape. Journal of Environmental Management, 352, Article 120086. https://doi.org/10.1016/j.jenvman.2024.120086

This study employs a TPV-VAR analysis method to explore the linkage between GPR, fossil energy prices, and utility stock returns across 16 European countries from August 2009 to April 2023. Our findings reveal variations over time in how GPR influenc... Read More about Navigating the nexus: Geopolitical risk, fossil energy prices, and European utility stock returns - Implications for environmental management and energy security in a conflict-ridden global landscape.

Venture capital, innovation channels, and regional resource dependence: Evidence from China (2024)
Journal Article
Du, Q., Li, Z., Du, M., & Yang, T. (2024). Venture capital, innovation channels, and regional resource dependence: Evidence from China. Journal of Environmental Management, 352, Article 120034. https://doi.org/10.1016/j.jenvman.2024.120034

Although the literature predominantly emphasises the crucial role of technological innovation in alleviating resource dependence, limited attention has been given to the pivotal role of capital in driving such innovation. As a critical factor in tech... Read More about Venture capital, innovation channels, and regional resource dependence: Evidence from China.

The impact of the degree of coupling coordination between green finance and environmental regulations on firms’ innovation performance: evidence from China (2023)
Journal Article
Yang, T., Sun, Z., Du, M., Du, Q., Li, L., & Shuwaikh, F. (in press). The impact of the degree of coupling coordination between green finance and environmental regulations on firms’ innovation performance: evidence from China. Annals of Operations Research, https://doi.org/10.1007/s10479-023-05704-9

Integrating the resource-based view and institution-based view theories, this paper examines the impact of the degree of coupling coordination between green finance and environmental regulations on firms’ innovation performance. Using a sample of 169... Read More about The impact of the degree of coupling coordination between green finance and environmental regulations on firms’ innovation performance: evidence from China.

Government venture capital and innovation performance in alternative energy production: The moderating role of environmental regulation and capital market activity (2023)
Journal Article
Du, Q., Li, Z., Du, M., & Yang, T. (2024). Government venture capital and innovation performance in alternative energy production: The moderating role of environmental regulation and capital market activity. Energy Economics, 129, Article 107196. https://doi.org/10.1016/j.eneco.2023.107196

Energy shortages and environmental concerns have prompted governments to focus on alternative energy production innovation. Although studies examine the association between government venture capital and green innovation, there remains a gap in under... Read More about Government venture capital and innovation performance in alternative energy production: The moderating role of environmental regulation and capital market activity.

Geopolitical risks, oil price shocks and inflation: Evidence from a TVP–SV–VAR approach (2023)
Journal Article
Yang, T., Dong, Q., Du, M., & Du, Q. (2023). Geopolitical risks, oil price shocks and inflation: Evidence from a TVP–SV–VAR approach. Energy Economics, 127(Part B), Article 107099. https://doi.org/10.1016/j.eneco.2023.107099

Employing a TVP–SV–VAR model, this study investigates the dynamic effects of geopolitical risks, oil price shocks, and inflation from January 2000 to July 2022 in China, the US, and 27 European countries. The findings show that the relationship betwe... Read More about Geopolitical risks, oil price shocks and inflation: Evidence from a TVP–SV–VAR approach.

The time-varying impact of geopolitical risk on natural resource prices: The post-COVID era evidence (2023)
Journal Article
Ding, S., Wang, K., Cui, T., & Du, M. (2023). The time-varying impact of geopolitical risk on natural resource prices: The post-COVID era evidence. Resources Policy, 86(B), Article 104161. https://doi.org/10.1016/j.resourpol.2023.104161

The geopolitical risk plays a pivotal role in affecting commodity price variations, especially natural resource commodity prices. Geopolitical risk is sensitive to political environmental changes and geopolitical events, including COVID-19 and the Ru... Read More about The time-varying impact of geopolitical risk on natural resource prices: The post-COVID era evidence.

The oil price-inflation nexus: The exchange rate pass-through effect (2023)
Journal Article
Ding, S., Zheng, D., Cui, T., & Du, M. (2023). The oil price-inflation nexus: The exchange rate pass-through effect. Energy Economics, 125, Article 106828. https://doi.org/10.1016/j.eneco.2023.106828

Crude oil prices have been considered one of the key drivers of inflation worldwide, reaching a peak in 2022. Inflation targeting plays a pivotal role in such a high inflation episode. In this vein, the exchange rate is a key channel in transmitting... Read More about The oil price-inflation nexus: The exchange rate pass-through effect.

Political uncertainty and cross-border equity allocation decisions: international evidence (2023)
Journal Article
Kwabi, F., Boateng, A., Wonu, C., Kariuki, C., & Du, A. (2023). Political uncertainty and cross-border equity allocation decisions: international evidence. International Review of Financial Analysis, 87, Article 102562. https://doi.org/10.1016/j.irfa.2023.102562

Political risk models highlight that political uncertainty matters for corporate investment decisions. However, how political uncertainty matters for investment allocation decisions is relatively under-explored. In this study, we examine the impact o... Read More about Political uncertainty and cross-border equity allocation decisions: international evidence.

Impacts of alternative energy production innovation on reducing CO2 emissions: Evidence from China (2023)
Journal Article
Yang, T., Li, F., Du, M., Huang, M., & Li, Y. (2023). Impacts of alternative energy production innovation on reducing CO2 emissions: Evidence from China. Energy, 268, Article 126684. https://doi.org/10.1016/j.energy.2023.126684

Although environmental economics research explores the impacts of green innovation on reducing CO2 emissions, most studies ignore these effects in emerging economies. This paper examines how alternative energy production innovation (AEPI) reduces CO2... Read More about Impacts of alternative energy production innovation on reducing CO2 emissions: Evidence from China.

Digital Financial Inclusion, Household Financial Participation and Well-Being: Micro-Evidence from China (2022)
Journal Article
Du, Q., Zhou, F., Yang, T., & Du, M. (2023). Digital Financial Inclusion, Household Financial Participation and Well-Being: Micro-Evidence from China. Emerging Markets Finance and Trade, 59(6), https://doi.org/10.1080/1540496x.2022.2153592

Though financial inclusion has drawn a lot of attention lately, especially in emerging markets, it remains unclear how it affects household well-being. This study investigates the connection between digital financial inclusion (DFI) and household wel... Read More about Digital Financial Inclusion, Household Financial Participation and Well-Being: Micro-Evidence from China.

The Development Fit Index of Digital Currency Electronic Payment between China and the One Belt One Road Countries (2022)
Journal Article
Li, F., Yang, T., Du, M., & Huang, M. (2023). The Development Fit Index of Digital Currency Electronic Payment between China and the One Belt One Road Countries. Research in International Business and Finance, 64, Article 101838. https://doi.org/10.1016/j.ribaf.2022.101838

Central bank digital currency is one of the most important financial innovations in the global economy. However, the understanding of its cross-border application is insufficient. This study analyses the driving and supporting factors that affect the... Read More about The Development Fit Index of Digital Currency Electronic Payment between China and the One Belt One Road Countries.

SMEs respond to climate change: Evidence from developing countries (2022)
Journal Article
Alam, A., Du, A. M., Rahman, M., Yazdifar, H., & Abbasi, K. (2022). SMEs respond to climate change: Evidence from developing countries. Technological Forecasting and Social Change, 185, Article 122087. https://doi.org/10.1016/j.techfore.2022.122087

Given the concerns stemming from climate change, it is important to investigate whether SMEs could become innovative (and thereby invest in technologies mitigating climate change) because of heightened climate change risk. This study explores the imp... Read More about SMEs respond to climate change: Evidence from developing countries.

The Impact of Inclusive Finance on Carbon Dioxide Emissions: Evidence from China's Provincial Regions (2022)
Presentation / Conference
Yang, T., Zhou, F., Du, M., & Du, Q. (2022, June). The Impact of Inclusive Finance on Carbon Dioxide Emissions: Evidence from China's Provincial Regions. Paper presented at Financial Economics Meeting (FEM-2022): New challenges post-COVID-19 related to Monetary policy, capital flow and exchange rate frameworks, Paris, France

Previous studies have not paid close attention to the effects of inclusive finance on carbon dioxide emissions. Setting research context in China with its rapid development in inclusive finance and pressing target of carbon dioxide neutrality, this p... Read More about The Impact of Inclusive Finance on Carbon Dioxide Emissions: Evidence from China's Provincial Regions.

Supply chain management based on volatility clustering: The effect of CBDC volatility (2022)
Journal Article
Ding, S., Cui, T., Wu, X., & Du, M. (2022). Supply chain management based on volatility clustering: The effect of CBDC volatility. Research in International Business and Finance, 62, Article 101690. https://doi.org/10.1016/j.ribaf.2022.101690

A Central Bank Digital Currency (CBDC) launched by the Bank of England could enable businesses to directly make electronic payments. It can be argued that digital payment is helpful in supply chain management applications. However, the adoption of CB... Read More about Supply chain management based on volatility clustering: The effect of CBDC volatility.

Impacts of Alternative Energy Production Innovation on Reduction of Carbon Dioxide Emissions: Evidence from China (2022)
Presentation / Conference
Yang, T., Li, Y., & Du, M. (2022, May). Impacts of Alternative Energy Production Innovation on Reduction of Carbon Dioxide Emissions: Evidence from China. Paper presented at The 4th Edition of Ethical Finance and Sustainability Conference (EFS-2022), Paris, France

Though the impacts of green innovation on reduction of carbon dioxide emissions have been an important topic for research on environmental economics, the previous studies ignore heterogeneity of the green innovation and how it might affect the carbon... Read More about Impacts of Alternative Energy Production Innovation on Reduction of Carbon Dioxide Emissions: Evidence from China.

Correlation Among Oil Price, Stock Returns And Country Risks: An Empirical Analysis Based On 31 Countries (2022)
Presentation / Conference
Yang, T., Dong, Q., Du, M., & Du, Q. (2022, May). Correlation Among Oil Price, Stock Returns And Country Risks: An Empirical Analysis Based On 31 Countries. Paper presented at The 4th Edition of Ethical Finance and Sustainability Conference (EFS-2022): Energy Transition and Sustainability, Paris, France

Existing studies have purely paid attention to the relationship between oil price and stock returns or the relationship between oil price and country risks; however, simultaneous correlations among the three are highly neglected. Using monthly panel... Read More about Correlation Among Oil Price, Stock Returns And Country Risks: An Empirical Analysis Based On 31 Countries.

Economic policy uncertainty and cost of capital: the mediating effects of foreign equity portfolio flow (2022)
Journal Article
Obenpong Kwabi, F., Owusu-Manu, S., Boateng, A., Ezeani, E., & Du, M. (2022). Economic policy uncertainty and cost of capital: the mediating effects of foreign equity portfolio flow. Review of Quantitative Finance and Accounting, 59, 457-481. https://doi.org/10.1007/s11156-022-01046-y

We investigate whether economic policy uncertainty and the interaction of foreign equity portfolio flow and economic policy uncertainty impact the cost of capital. Using panel data of 20 countries from 2001 to 2018, we find economic policy uncertaint... Read More about Economic policy uncertainty and cost of capital: the mediating effects of foreign equity portfolio flow.

Impacts of alternative energy production innovation on reduction of carbon dioxide emissions: evidence from China (2021)
Conference Proceeding
Yang, T., Li, F., Du, M., & Li, Y. (2021). Impacts of alternative energy production innovation on reduction of carbon dioxide emissions: evidence from China. In International Congress of Energy, Economy and Security: Proceedings Book (90-122)

Though the impacts of green innovation on reduction of carbon dioxide emissions have been an important topic for research on environmental economics, the previous studies ignore heterogeneity of the green innovation and how it might affect the carbon... Read More about Impacts of alternative energy production innovation on reduction of carbon dioxide emissions: evidence from China.

The impact of inclusive finance on carbon dioxide emissions: evidence from China's provincial regions (2021)
Conference Proceeding
Yang, T., Zhou, F., Du, M., & Du, Q. (2021). The impact of inclusive finance on carbon dioxide emissions: evidence from China's provincial regions. In International Congress of Energy, Economy and Security: Proceedings Book (132-152)

Previous studies have not paid close attention to the effects of inclusive finance on carbon dioxide emissions. Setting research context in China with its rapid development in inclusive finance and pressing target of carbon dioxide neutrality, this p... Read More about The impact of inclusive finance on carbon dioxide emissions: evidence from China's provincial regions.

Correlation among oil price, stock returns and country risks: an empirical analysis based on 31 countries (2021)
Conference Proceeding
Yang, T., Dong, Q., Du, M., & Du, Q. (2021). Correlation among oil price, stock returns and country risks: an empirical analysis based on 31 countries. In International Congress of Energy, Economy and Security: Proceedings Book (2-23)

Existing studies have purely paid attention to the relationship between oil price and stock returns or the relationship between oil price and country risks; however, simultaneous correlations among the three are highly neglected. Using monthly panel... Read More about Correlation among oil price, stock returns and country risks: an empirical analysis based on 31 countries.

The role of environmental regulation of the home country in enhancing innovation performance of Chinese EMNEs (2021)
Conference Proceeding
Du, Q., Li, Z., Yang, T., Du, M., & Chen, S. (2021). The role of environmental regulation of the home country in enhancing innovation performance of Chinese EMNEs. In International Congress of Energy, Economy and Security: Proceedings Book (36-56)

EMNEs pursuing for innovation performance via internationalization could be affected by the environmental regulation within a global sustainable development context. Building on the institution-based view, we study how external environmental regulati... Read More about The role of environmental regulation of the home country in enhancing innovation performance of Chinese EMNEs.

Measuring pollutant emissions of cattle breeding and its spatial-temporal variation in China (2021)
Journal Article
Yang, T., Li, F., Du, M., Wang, Y., & Sun, Z. (2021). Measuring pollutant emissions of cattle breeding and its spatial-temporal variation in China. Journal of Environmental Management, 299, Article 113615. https://doi.org/10.1016/j.jenvman.2021.113615

The rapid development of animal husbandry has resulted in serious pollution issues in the livestock and poultry breeding industry, increasing the cost of environmental management. This issue is particularly prominent in China due to its rapid economi... Read More about Measuring pollutant emissions of cattle breeding and its spatial-temporal variation in China.

Fluctuation in the global oil market, stock market volatility, and economic policy uncertainty: A study of the US and China (2021)
Journal Article
Yang, T., Zhou, F., Du, M., Du, Q., & Zhou, S. (2023). Fluctuation in the global oil market, stock market volatility, and economic policy uncertainty: A study of the US and China. Quarterly Review of Economics and Finance, 87, 377-387. https://doi.org/10.1016/j.qref.2021.08.006

This paper investigates the relationships between the global oil market, stock markets, and economic policy, focusing on China and the US. We use a time-varying parameter stochastic volatility vector autoregression model to examine the transmission m... Read More about Fluctuation in the global oil market, stock market volatility, and economic policy uncertainty: A study of the US and China.

State ownership, prior experience and performance: a comparative analysis of Chinese domestic and cross-border acquisitions (2021)
Journal Article
Du, M., Kwabi, F., & Yang, T. (2021). State ownership, prior experience and performance: a comparative analysis of Chinese domestic and cross-border acquisitions. International Journal of Accounting and Information Management, 29(3), 472-491. https://doi.org/10.1108/ijaim-01-2021-0027

Purpose Drawing on three theoretical frameworks, this paper aims to examine the effects of state-owned enterprises (SOEs) and the interaction between SOEs and prior acquisition experience of Chinese domestic and cross-border acquirers. Design/met... Read More about State ownership, prior experience and performance: a comparative analysis of Chinese domestic and cross-border acquisitions.

The effects of commodity financialization on commodity market volatility (2021)
Journal Article
Ding, S., Cui, T., Zheng, D., & Du, M. (2021). The effects of commodity financialization on commodity market volatility. Resources Policy, 73, https://doi.org/10.1016/j.resourpol.2021.102220

The last two decades have witnessed a massive capital inflow into commodity markets, provoking the commodity financialization episode, which turned into a major stimulus for emerging studies of commodity market prices as financialization can impact o... Read More about The effects of commodity financialization on commodity market volatility.

Ownership Type, Home‐Country Government‐Directed Investment Policies and Firm Value in Strategic Sectors: Evidence from Chinese Acquiring Firms (2021)
Journal Article
Boateng, A., Du, M., Bi, X., Kwabi, F. O., & Glaister, K. W. (2022). Ownership Type, Home‐Country Government‐Directed Investment Policies and Firm Value in Strategic Sectors: Evidence from Chinese Acquiring Firms. British Journal of Management, 33(3), 1412-1431. https://doi.org/10.1111/1467-8551.12538

Using data of Chinese acquirers in strategic sectors, we assess the role of home government and the effects of the interaction between ownership type and government-directed investment policies on acquiring firm value in cross-border acquisitions (CB... Read More about Ownership Type, Home‐Country Government‐Directed Investment Policies and Firm Value in Strategic Sectors: Evidence from Chinese Acquiring Firms.

Carbon dioxide emissions and Chinese OFDI: From the perspective of carbon neutrality targets and environmental management of home country (2021)
Journal Article
Yang, T., Dong, Q., Du, Q., Du, M., Dong, R., & Chen, M. (2021). Carbon dioxide emissions and Chinese OFDI: From the perspective of carbon neutrality targets and environmental management of home country. Journal of Environmental Management, 295, https://doi.org/10.1016/j.jenvman.2021.113120

Studies investigating the relationship between foreign direct investment (FDI) and the environment have focused predominantly on the effects of FDI on host country environments with less attention paid to the impact on home countries. This study turn... Read More about Carbon dioxide emissions and Chinese OFDI: From the perspective of carbon neutrality targets and environmental management of home country.

The impact of CEO compensation and excess reserves on bank risk-taking: the moderating role of monetary policy (2021)
Journal Article
Boateng, A., Nguyen, V. H. T., Du, M., & Kwabi, F. O. (2022). The impact of CEO compensation and excess reserves on bank risk-taking: the moderating role of monetary policy. Empirical Economics, 62, 1575-1598. https://doi.org/10.1007/s00181-021-02086-4

We examine the effects of CEO compensation, excess reserves, and role of monetary policy on bank risk-taking behaviour based on a sample of 88 Chinese commercial banks over the period of 2003–2014. We find evidence that suggests that incentives prese... Read More about The impact of CEO compensation and excess reserves on bank risk-taking: the moderating role of monetary policy.

Sino-U.S. stock market volatility, economic policy uncertainty, and fluctuation of global oil market: an empirical analysis based on TVP-SV-VAR model (2020)
Conference Proceeding
Yang, T., Zhou, F., Du, M., Du, Q., & Zhou, S. (2020). Sino-U.S. stock market volatility, economic policy uncertainty, and fluctuation of global oil market: an empirical analysis based on TVP-SV-VAR model. In International Congress of Energy Economy and Security: Proceedings Book (83-106)

This paper investigates the correlations among Sino-US stock markets, economic policy uncertainty (EPU) and global oil market. Specificly, by adopting a TVP-SV-VAR model this study analyzes the dynamic effects of volatility of stock price in China an... Read More about Sino-U.S. stock market volatility, economic policy uncertainty, and fluctuation of global oil market: an empirical analysis based on TVP-SV-VAR model.

The effects of commodity financialization on commodity market volatility (2020)
Conference Proceeding
Ding, S., Zheng, D., Cui, T., & Du, M. (2020). The effects of commodity financialization on commodity market volatility. In International Congress of Energy Economy and Security: Proceedings Book (153-178)

Over the last two decades, it has been witnessed that massive capital flooded into commodity markets, provoking the commodity financialization episode, which turned into a major stimulus for the rapid development of commodity market studies. Moreover... Read More about The effects of commodity financialization on commodity market volatility.

FinTech, SME efficiency and national culture: Evidence from OECD countries (2020)
Journal Article
Abbasi, K., Alam, A., Du, M., & Huynh, T. L. D. (2021). FinTech, SME efficiency and national culture: Evidence from OECD countries. Technological Forecasting and Social Change, 163, https://doi.org/10.1016/j.techfore.2020.120454

Small and Medium Enterprises (SMEs) play a vital role in an economy; therefore, it is important to study the avenues that contribute towards their viability. As a result, we examine the impact of financial technologies (FinTechs) on SME efficiency. U... Read More about FinTech, SME efficiency and national culture: Evidence from OECD countries.

FinTech, SMEs Efficiency and National Culture: Evidence from OECD Countries (2020)
Conference Proceeding
Abbasi, K., Alam, A., Du, A., & Huynh, T. L. D. (2020). FinTech, SMEs Efficiency and National Culture: Evidence from OECD Countries. In International Conference on the Contemporary Issues in Finance, Trade and Macroeconomy (ICOFINT '20)

Small and Medium Enterprises (SMEs) play a vital role in an economy; therefore, it is important to study the avenues that contribute towards their viability. As a result, we examine the impact of financial technologies (FinTechs) on SME efficiency. U... Read More about FinTech, SMEs Efficiency and National Culture: Evidence from OECD Countries.

Impact of central bank independence and transparency on international equity portfolio allocation: A cross-country analysis (2020)
Journal Article
Kwabi, F. O., Boateng, A., & Du, M. (2020). Impact of central bank independence and transparency on international equity portfolio allocation: A cross-country analysis. International Review of Financial Analysis, 69, https://doi.org/10.1016/j.irfa.2020.101464

In this study, we analyse the effects of central bank independence (CBI) and central bank transparency (CBT) and their interactions with institutional quality on foreign equity portfolio inflows. Employing a dataset from 42 countries over the period... Read More about Impact of central bank independence and transparency on international equity portfolio allocation: A cross-country analysis.

Do Conforming to State-Directed Investment Policies in Emerging Countries Create Value for Acquiring Firms (2019)
Presentation / Conference
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

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,... Read More about Do Conforming to State-Directed Investment Policies in Emerging Countries Create Value for Acquiring Firms.

Impact of Board Structure on Chinese Firms' Cross- Border M&A Performance (2019)
Presentation / Conference
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

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... Read More about Impact of Board Structure on Chinese Firms' Cross- Border M&A Performance.

Cultural distance and value creation of cross-border M&A: The moderating role of acquirer characteristics (2018)
Journal Article
Boateng, A., Du, M., Bi, X., & Lodorfos, G. (2019). Cultural distance and value creation of cross-border M&A: The moderating role of acquirer characteristics. International Review of Financial Analysis, 63, 285-295. https://doi.org/10.1016/j.irfa.2018.12.009

This paper examines the effects of culture and the interaction between cultural distance and salient acquirer characteristics on value creation of acquiring firms based on a sample of 209 firms over the period of 1998–2012. The findings indicate that... Read More about Cultural distance and value creation of cross-border M&A: The moderating role of acquirer characteristics.

Cultural Distance and Cross-border Mergers & Acquisitions: The moderating role of Acquirer characteristics (2018)
Presentation / Conference
Boateng, A., Du, M., Bi, X., & Lodorfos, G. (2018, September). Cultural Distance and Cross-border Mergers & Acquisitions: The moderating role of Acquirer characteristics. Paper presented at The 26th Annual Conference on Pacific Basin Finance, Economics, Accounting, and Management, Rutgers University, USA

This paper examines the effects of culture and the interaction between cultural distance and salient acquirer characteristics on value creation of acquiring firms based on a sample of 397 firms over the period of 1998-2012. The findings indicate that... Read More about Cultural Distance and Cross-border Mergers & Acquisitions: The moderating role of Acquirer characteristics.

CEO compensation, excess reserves and risk-taking of Chinese banks: Do monetary policies have a restraining effect? (2017)
Presentation / Conference
Boateng, A., Nguyen, V. H. T., & Du, M. (2017, August). CEO compensation, excess reserves and risk-taking of Chinese banks: Do monetary policies have a restraining effect?. Paper presented at International Finance and Banking Society (IFABS) Asia Conference, Ningbo, China

We examine the effects of CEO compensation, excess reserves, and role of monetary policy on bank risk-taking behaviour based on a sample of 88 Chinese commercial banks over the period of 2003–2014. We find evidence that suggests that incentives prese... Read More about CEO compensation, excess reserves and risk-taking of Chinese banks: Do monetary policies have a restraining effect?.

Integration of Financial Markets in Post Global Financial Crises and Implications for British Financial Sector: Analysis Based on A Panel VAR Model (2017)
Journal Article
Nasir, M. A., & Du, M. (2018). Integration of Financial Markets in Post Global Financial Crises and Implications for British Financial Sector: Analysis Based on A Panel VAR Model. Journal of Quantitative Economics, 16(2), 363-388. https://doi.org/10.1007/s40953-017-0087-2

This study analyses the dynamics of integration among global financial markets in the context of Global Financial Crisis (2008) by employing a Panel Vector Autoregressive (VAR) model on the monthly data of nine countries and three markets from Jan 20... Read More about Integration of Financial Markets in Post Global Financial Crises and Implications for British Financial Sector: Analysis Based on A Panel VAR Model.

Explaining the surge in M&A as an entry mode: home country and cultural influences (2017)
Journal Article
Boateng, A., Du, M., Wang, Y., Wang, C., & Ahammad, M. F. (2017). Explaining the surge in M&A as an entry mode: home country and cultural influences. International Marketing Review, 34(1), 87-108. https://doi.org/10.1108/imr-10-2014-0330

Purpose The purpose of this paper is to examine the trends, patterns and the impact of cultural and home country macroeconomic influences on Chinese cross-border mergers and acquisitions (CBM&A) as foreign entry strategy for the period of 1998-2011.... Read More about Explaining the surge in M&A as an entry mode: home country and cultural influences.

Corporate governance in China: Regulatory reforms and policies (2016)
Book Chapter
Du, A., & Boateng, A. (2016). Corporate governance in China: Regulatory reforms and policies. In F. Ngwu, O. Osuji, & F. Stephen (Eds.), Corporate Governance in Developing and Emerging Markets. London: Routledge. https://doi.org/10.4324/9781315666020

Corporate governance, which is defined as the structure of rights and responsibilities among the various parties who have a stake in a business organisation (Aguilera and Jackson, 2003), has attracted immense interest from academics, practitioners an... Read More about Corporate governance in China: Regulatory reforms and policies.

Integration Of Financial Markets In Post Global Financial Crises And Implications For Britain: Analysis Based On A Panel Var Model (2016)
Conference Proceeding
Nasir, M. A., & Du, M. (2016). Integration Of Financial Markets In Post Global Financial Crises And Implications For Britain: Analysis Based On A Panel Var Model. In VICIF2016 Proceedings

This study analysed the dynamics of integration among global financial markets in context of Global Financial Crisis (2008) by employing a Panel Vector Auto-regression (VAR) model on the data of nine countries and three markets from Jan 2003 to Oct 2... Read More about Integration Of Financial Markets In Post Global Financial Crises And Implications For Britain: Analysis Based On A Panel Var Model.

The impact of state ownership, formal institutions and resource seeking on acquirers’ returns of Chinese M&A (2015)
Journal Article
Du, M., Boateng, A., & Newton, D. (2016). The impact of state ownership, formal institutions and resource seeking on acquirers’ returns of Chinese M&A. Review of Quantitative Finance and Accounting, 47(1), 159-178. https://doi.org/10.1007/s11156-015-0498-0

We examine the effects of state ownership, institutions and resource-seeking behavior on post-acquisition stock price returns of Chinese cross-border mergers and acquisitions over the period 1998–2008. Chinese acquiring firms experience negative retu... Read More about The impact of state ownership, formal institutions and resource seeking on acquirers’ returns of Chinese M&A.

State ownership, institutional effects and value creation in cross-border mergers & acquisitions by Chinese firms (2014)
Journal Article
Du, M., & Boateng, A. (2015). State ownership, institutional effects and value creation in cross-border mergers & acquisitions by Chinese firms. International Business Review, 24(3), 430-442. https://doi.org/10.1016/j.ibusrev.2014.10.002

This paper considers the effects of state ownership and institutional influences on value creation through cross-border mergers & acquisitions by Chinese firms during the period using a sample of 468 firms. The findings indicate that Chinese bidders... Read More about State ownership, institutional effects and value creation in cross-border mergers & acquisitions by Chinese firms.

An Analysis of Long-term Acquirers’ Returns of Cross-border Mergers and Acquisitions: Evidence from Chinese Acquiring firms (2014)
Presentation / Conference
Du, M., & Boateng, A. (2014, September). An Analysis of Long-term Acquirers’ Returns of Cross-border Mergers and Acquisitions: Evidence from Chinese Acquiring firms. Paper presented at British Academy of Management 2014 Conference, Belfast, North Ireland, UK

We examine the effects of state ownership, institutions and resource-seeking behavior on post-acquisition stock price returns of Chinese cross-border mergers and acquisitions over the period 1998–2008. Chinese acquiring firms experience negative retu... Read More about An Analysis of Long-term Acquirers’ Returns of Cross-border Mergers and Acquisitions: Evidence from Chinese Acquiring firms.

Explaining the Surge in Chinese Cross-border M&As: The Role of Home Country Macroeconomic Factors and Institutions (2014)
Conference Proceeding
Du, M., Boateng, A., & Wang, Y. (2014). Explaining the Surge in Chinese Cross-border M&As: The Role of Home Country Macroeconomic Factors and Institutions.

This paper examines the trends, patterns, and the impact of institutional and home country macroeconomic influences on Chinese cross-border mergers and acquisitions (CBM&A) over the 1998-2011 period. Using a multi-method approach involving OLS, Fixed... Read More about Explaining the Surge in Chinese Cross-border M&As: The Role of Home Country Macroeconomic Factors and Institutions.

Long-term Value Creation of Cross-border Mergers and Acquisitions: Evidence from Chinese Acquiring firms (2013)
Conference Proceeding
Du, M., & Boateng, A. (2013). Long-term Value Creation of Cross-border Mergers and Acquisitions: Evidence from Chinese Acquiring firms. In Proceedings of the Annual Meeting of the Academy of International Business – Southeast USA “Innovation, Institutions, and Emerging Markets”

This study investigates the long-term acquirer returns of Chinese cross-border mergers and acquisitions (CBM&A) over the period of 1998-2008. Using Buy and Hold Abnormal Returns (BHAR) and Calendar Time methods, we find that Chinese acquiring firms e... Read More about Long-term Value Creation of Cross-border Mergers and Acquisitions: Evidence from Chinese Acquiring firms.

Home country macroeconomic factors on outward cross-border mergers and acquisitions: Evidence from the UK (2013)
Journal Article
Boateng, A., Hua, X., Uddin, M., & Du, M. (2014). Home country macroeconomic factors on outward cross-border mergers and acquisitions: Evidence from the UK. Research in International Business and Finance, 30, 202-216. https://doi.org/10.1016/j.ribaf.2013.08.001

In this paper, we examine the dynamic effects of key macroeconomic factors on the UK crossborder mergers and acquisitions (CBM&A) outflows over the period 1987–2008. Using a seven variable vector autoregressive/vector error correction models (VAR/VEC... Read More about Home country macroeconomic factors on outward cross-border mergers and acquisitions: Evidence from the UK.

State ownership, institutional effects and value creation in cross-border Mergers and Acquisitions by Chinese firms (2013)
Conference Proceeding
Du, M., & Boateng, A. (2013). State ownership, institutional effects and value creation in cross-border Mergers and Acquisitions by Chinese firms. In Proceedings of the 55th Annual Meeting of the Academy of International Business "Bridging the Divide: Linking IB to Complementary Disciplines and Practice"

This paper considers the effects of state ownership and institutional influences on value creation through cross-border mergers and acquisitions by Chinese firms during the period using a sample of 468 firms. The findings indicate that Chinese bidder... Read More about State ownership, institutional effects and value creation in cross-border Mergers and Acquisitions by Chinese firms.

The Role of Government and Value Creation of Chinese Cross-Border Mergers and Acquisitions (2013)
Conference Proceeding
Boateng, A., & Du, M. (2013). The Role of Government and Value Creation of Chinese Cross-Border Mergers and Acquisitions. In Proceedings of the 20th Annual Conference of the Multinational Finance Society (MFS)

Two decades of market-oriented reforms and open-door policies have spurred the unprecedented growth of Chinese multinational corporations abroad. This paper considers the role of government and institutional influences on value creation through cross... Read More about The Role of Government and Value Creation of Chinese Cross-Border Mergers and Acquisitions.

Cross-border Mergers and Acquisitions by emerging market firms: A review and future direction (2012)
Journal Article
Du, M., & Boateng, A. (2012). Cross-border Mergers and Acquisitions by emerging market firms: A review and future direction. ACRN Journal of Entrepreneurship Perspectives, 1(2), 24-54

The purpose of this paper is to examine how academic research on cross-border mergers and acquisitions (CBM&As) from emerging economy firms (EEFs) have evolved over the past decade (2000-2012). Focusing on articles published in major scholarly journa... Read More about Cross-border Mergers and Acquisitions by emerging market firms: A review and future direction.

Cross-border Mergers and Acquisitions by emerging market firms: A review and future direction (2012)
Presentation / Conference
Du, M., & Boateng, A. (2012, July). Cross-border Mergers and Acquisitions by emerging market firms: A review and future direction. Paper presented at 12th Finance Perspectives Conference: 12th International Research Conference on Finance, Accounting, Risk and Treasury Management, Steyr, Austria

The purpose of this paper is to examine how academic research on cross-border mergers and acquisitions (CBM&As) from emerging economy firms (EEFs) have evolved over the past decade (2000-2012). Focusing on articles published in major scholarly journa... Read More about Cross-border Mergers and Acquisitions by emerging market firms: A review and future direction.