Trade Networks and Cross-Border Acquisitions: Evidence from United States Acquiring Firms

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dc.contributor.authorHan, Seung Hunko
dc.contributor.authorJo, Eun Jinko
dc.contributor.authorKim, Dong Kyoonko
dc.contributor.authorLee, Duk-Heeko
dc.date.accessioned2017-01-18T02:39:16Z-
dc.date.available2017-01-18T02:39:16Z-
dc.date.created2016-12-07-
dc.date.created2016-12-07-
dc.date.created2016-12-07-
dc.date.issued2016-12-
dc.identifier.citationASIA-PACIFIC JOURNAL OF FINANCIAL STUDIES, v.45, no.6, pp.916 - 943-
dc.identifier.issn2041-9945-
dc.identifier.urihttp://hdl.handle.net/10203/219623-
dc.description.abstractThis study examines the impact of the trade networks of target firms' nation on the announcement returns of the cross-border acquisitions of United States acquirers. By using a sample of 818 cross-border acquisitions during 2000-2007, we find that the centrality measure of trade networks has a positive impact on announcement returns, after controlling for Hofstede's cultural distance measure between the acquiring and target nations and various firm- and deal-specific factors. In sum, trade network analysis, based on strength centrality, better explains the performance of acquiring firms than does the bilateral trade openness measurement used in previous studies.-
dc.languageEnglish-
dc.publisherWILEY-BLACKWELL-
dc.subjectCULTURAL DISTANCE-
dc.subjectMERGERS-
dc.subjectMARKET-
dc.subjectPERFORMANCE-
dc.subjectDETERMINANTS-
dc.subjectINTEGRATION-
dc.subjectIMPACT-
dc.subjectWORLD-
dc.titleTrade Networks and Cross-Border Acquisitions: Evidence from United States Acquiring Firms-
dc.typeArticle-
dc.identifier.wosid000392877200005-
dc.identifier.scopusid2-s2.0-85006716566-
dc.type.rimsART-
dc.citation.volume45-
dc.citation.issue6-
dc.citation.beginningpage916-
dc.citation.endingpage943-
dc.citation.publicationnameASIA-PACIFIC JOURNAL OF FINANCIAL STUDIES-
dc.identifier.doi10.1111/ajfs.12158-
dc.identifier.kciidART002174982-
dc.contributor.localauthorHan, Seung Hun-
dc.contributor.localauthorLee, Duk-Hee-
dc.contributor.nonIdAuthorJo, Eun Jin-
dc.contributor.nonIdAuthorKim, Dong Kyoon-
dc.description.isOpenAccessN-
dc.type.journalArticleArticle-
dc.subject.keywordAuthorCentrality-
dc.subject.keywordAuthorCross-border mergers and acquisitions-
dc.subject.keywordAuthorCultural distance-
dc.subject.keywordAuthorNetwork analysis-
dc.subject.keywordAuthorWorld trade network-
dc.subject.keywordPlusCULTURAL DISTANCE-
dc.subject.keywordPlusMERGERS-
dc.subject.keywordPlusMARKET-
dc.subject.keywordPlusPERFORMANCE-
dc.subject.keywordPlusDETERMINANTS-
dc.subject.keywordPlusINTEGRATION-
dc.subject.keywordPlusIMPACT-
dc.subject.keywordPlusWORLD-
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