Family firms and their participation in cross-border acquisition waves: evidence from India

IF 1.9 4区管理学 Q3 MANAGEMENT Cross Cultural & Strategic Management Pub Date : 2021-07-06 DOI:10.1108/ccsm-05-2020-0107

Mohammad Fuad, Vinod Thakur, A. Sinha

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引用次数: 4

Abstract

PurposeFrom the socioemotional wealth (SEW) perspective, family firms prioritize non-financial goals and show risk averse behaviour towards conducting acquisitions. In this paper, we study family firms' acquisitive behaviour while participating in CBA waves. Scholars have largely treated the cross border acquisition (CBA) wave and non-wave environments as homogeneous. We theorize that these two environments differ in their uncertainty and risk profiles on account of temporal clustering of acquisition deals. Accordingly, based on the SEW perspective, we examine the preference of family firms to participate in CBA waves.Design/methodology/approach The paper is based on CBAs conducted by Indian family firms between 2000 and 2018. These waves are identified by conducting a simulation based methodology.FindingsOur findings suggest that foreign institutional ownership, firm age and acquisition relatedness moderate the relationship between family control and participation in CBA waves.Originality/valueOur paper contributes towards the acquisitive behavior of family firms and their participation in CBA waves.

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家族企业及其参与跨国收购浪潮:来自印度的证据

从社会情感财富(SEW)的角度来看，家族企业优先考虑非财务目标，并在进行收购时表现出风险厌恶行为。本文研究了家族企业参与CBA浪潮时的收购行为。学者们在很大程度上认为跨境并购(CBA)的波动环境和非波动环境是同质的。我们的理论认为，由于并购交易的时间聚类，这两种环境在不确定性和风险概况方面有所不同。因此，基于SEW视角，我们考察了家族企业参与CBA浪潮的偏好。本文基于2000年至2018年印度家族企业进行的cba。通过进行基于模拟的方法来识别这些波。研究结果表明，外资机构所有权、企业年龄和并购相关性调节了家族控制与CBA浪潮参与之间的关系。本文对家族企业的收购行为及其在CBA浪潮中的参与做出了贡献。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Cross Cultural & Strategic Management MANAGEMENT-

CiteScore

4.70

自引率

12.00%

发文量

期刊介绍： Cross Cultural & Strategic Management (CCSM), is dedicated to providing a forum for the publication of high quality cross-cultural and strategic management research in the global context. CCSM is interdisciplinary in nature and welcomes submissions from scholars from international business, management and other disciplines, such as anthropology, economics, political science, psychology and sociology. The goal of CCSM is to publish discerning, theoretically grounded, evidence-based and cutting edge research on issues relevant to all aspects of global management. CCSM is especially interested in theoretical and empirical papers that investigate new and unique ideas and/or are multilevel (micro-meso-macro) and/or are multidisciplinary in nature. Research papers submitted to CCSM are expected to include an answer to the question: What is the contribution of this paper to the literature and the field of international business and managing in the global context? CCSM accepts theoretical/conceptual and empirical papers based on quantitative and qualitative research endeavors that advance our overall knowledge of international business. This includes research that yields positive, neutral or negative findings as long as these studies are based on sound research methodology, and have a good command of the theory/literature that pertains to the phenomena under investigation. These studies should also provide a more in-depth interpretation of the reason(s) for the findings and include more detailed recommendations for future research directions.