The motives and performance of cross-border acquirers from emerging economies: Comparison between Chinese and Indian firms

摘要: During the recent decade, world has witnessed rapid growth of MNEs from emerging economies. Their increasing participation in cross-border mergers and acquisitions raised great attention extant literature. This study evaluates value creation these transactions two representative countries, namely China India, determines factors that result different performance international acquisition activities. Cross-border conducted by countries’ companies indeed lead to significant shareholder wealth creation. Furthermore, Indian shareholders are more likely benefit deals small cultural distance while Chinese investors gain expansion manufacturing companies. Location also affects acquisitions, with into developed countries generating higher returns shareholders. Our sample consists 203 63 over period 2000–2010 our results hold after controlling for various deal-level firm-level characteristics.