Effects of Foreign Acquisitions on Financial constraints, Productivity and Investment in R&D of Target Firms in China
| dc.cclicence | CC-BY-NC | en |
| dc.contributor.author | Chen, Y. | en |
| dc.contributor.author | Hua, X. | en |
| dc.contributor.author | Boateng, Agyenim | en |
| dc.date.acceptance | 2016-12-12 | en |
| dc.date.accessioned | 2018-10-11T08:44:20Z | |
| dc.date.available | 2018-10-11T08:44:20Z | |
| dc.date.issued | 2016-12-16 | |
| dc.description | The file attached to this record is the author's final peer reviewed version. The Publisher's final version can be found by following the DOI link. | en |
| dc.description.abstract | This paper examines whether foreign acquisitions lessen financial constraints, improve investment in research & development (R&D) and productivity of the target firms in China based on a sample of 914 cross-border mergers and acquisitions (CBM&A) over the period of 1994-2011. Using investment to cash-flow sensitivity to measure financial constraints, we find that foreign acquisitions in China are associated with a reduction of target firms’ financial constraints, irrespective of the ownership type of the target firm. However, the extent of financial constraint reduction is pronounced for non-SOEs compared to state-owned enterprises (SOEs). This study also provides evidence that foreign acquisitions improve Chinese target firms’ productivity and investment in R&D. | en |
| dc.exception.reason | author was not DMU staff when published. available from GCU repository | en |
| dc.exception.ref2021codes | 254a | en |
| dc.funder | N/A | en |
| dc.identifier.citation | Chen, Y., Hua, X., Boateng, A. (2016) Effects of Foreign Acquisitions on Financial constraints, Productivity and Investment in R&D of Target Firms in China. International Business Review, 26 (4), pp.640-651. | en |
| dc.identifier.doi | https://doi.org/10.1016/j.ibusrev.2016.12.005 | |
| dc.identifier.issn | 0969-5931 | |
| dc.identifier.uri | http://researchonline.gcu.ac.uk/portal/files/24600889/CBMA_Boateng_FD4.pdf | |
| dc.identifier.uri | http://hdl.handle.net/2086/16715 | |
| dc.language.iso | en | en |
| dc.peerreviewed | Yes | en |
| dc.projectid | N/A | en |
| dc.publisher | Elsevier | en |
| dc.researchinstitute | Finance and Banking Research Group (FiBRe) | en |
| dc.subject | Cross-border mergers and acquisitions | en |
| dc.subject | Financial constrains | en |
| dc.subject | productivity | en |
| dc.subject | R&D investment | en |
| dc.subject | China | en |
| dc.title | Effects of Foreign Acquisitions on Financial constraints, Productivity and Investment in R&D of Target Firms in China | en |
| dc.type | Article | en |