| 研究実績の概要 |
The research contributes to our understanding of how industry characteristics and institutional distance influence equity sought in cross-border acquisitions using polynomial regression and survey curve analysis. We conceptualize institutional distance as the difference in governance quality between the acquirer and target countries. Our model demonstrates that industry characteristics such as munificence, dynamism, and complexity moderate the impact of institutional distance on equity-seeking behavior. These factors influence strategic decisions in international M&A. Understanding these dynamics is vital for global business strategy and policymaking.
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| 現在までの達成度 (区分) |
現在までの達成度 (区分)
2: おおむね順調に進展している
理由
We can proceed smoothly because we have access to recent research literature essential for our model. For example, access to research papers on industry characteristics such as Malhotra & Harrison (2022) and other literature like Busenbark et al. (2023) enables us to advance our research seamlessly.
Full reference:
Busenbark, J. R., Bundy, J., & Chin, M. K. (2023). Director departure following political ideology (in) congruence with an incoming CEO. Strategic Management Journal, 44(7), 1698-1732.
Malhotra, S., & Harrison, J. S. (2022). A blessing and a curse: How chief executive officer cognitive complexity influences firm performance under varying industry conditions. Strategic Management Journal, 43(13), 2809-2828.
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| 今後の研究の推進方策 |
One possible future research direction is to empirically test the model using data on cross-border acquisitions. To measure institutional distance, data from the Worldwide Governance Indicators can be employed. To assess industry characteristics, we can utilize data on the sales of all firms within specific industries. Taking a more long-term view, subsequent firm performance following cross-border acquisitions can also be examined. To focus on the role of managers, a questionnaire study based on experimental design will provide strategic insights for businesses operating in global markets.
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