跨国收购中的地理距离：首席执行官心理特质的影响

IF 5.9 2区管理学 Q1 MANAGEMENT Journal of International Management Pub Date : 2023-12-20 DOI:10.1016/j.intman.2023.101115

Viswa Prasad Gada , Manish Popli , Shavin Malhotra

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引用次数: 0

摘要

本研究探讨了收购公司首席执行官的心理属性对跨国收购中目标公司地理距离的影响。借鉴监管关注理论，我们认为，具有较高处置预防关注的首席执行官会更加警惕和规避损失，从而在跨国收购中避开地理距离更远的目标公司。此外，在监管不适应概念的基础上，我们研究了收购公司首席执行官的特定环境经验和收购公司所在行业的慷慨程度对倾向性预防关注的调节作用。在 2006 年至 2014 年期间英国上市公司进行的 218 次跨境收购中，我们发现我们的假设得到了支持。本研究强调了微观基础在跨国收购中的作用，加深了对跨国收购地点选择决策的理解。

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Geographic distance in cross-border acquisitions: The impact of CEO's psychological attributes

This study examines the influence of acquiring firm CEOs' psychological attributes on the geographic distance of target firms in cross-border acquisitions. Drawing on the regulatory focus theory, we argue that CEOs with a higher dispositional prevention focus are more vigilant and loss-aversive, avoiding target firms at a greater geographic distance in cross-border acquisitions. Furthermore, building on the concept of regulatory misfit, we examine the moderating effect of acquiring firm CEOs' context-specific experience and the munificence of acquiring firms' industries in priming the dispositional prevention focus. In a sample of 218 cross-border acquisitions by public firms from the United Kingdom from 2006 to 2014, we find support for our hypotheses. This study emphasizes the role of micro-foundations in cross-border acquisitions and deepens the understanding of cross-border acquisition location choice decisions.

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来源期刊

Journal of International Management MANAGEMENT-

自引率

9.80%

发文量

审稿时长

81 days

期刊介绍： The Journal of International Management is devoted to advancing an understanding of issues in the management of global enterprises, global management theory, and practice; and providing theoretical and managerial implications useful for the further development of research. It is designed to serve an audience of academic researchers and educators, as well as business professionals, by publishing both theoretical and empirical research relating to international management and strategy issues. JIM publishes theoretical and empirical research addressing international business strategy, comparative and cross-cultural management, risk management, organizational behavior, and human resource management, among others.