국경 간 인수합병 실행 속도 결정요인 분석

• 영문명: Analysis on the Determinants of the Speed of Executing Cross-border Mergers and Acquisitions
• 발행기관: 한국무역연구원
• 저자명: 한병섭(Byoung-Sop Han) 박은경(Eun-Kyung Park)
• 간행물 정보: 『무역연구』제12권 제2호, 127~148쪽, 전체 22쪽
• 주제분류: 경제경영 > 무역학
• 파일형태: PDF
• 발행일자: 2016.04.30

영문 초록

This study investigates the factors that affect the speed of executing cross-border mergers and acquisitions (CB M&A) by Chinese companies. Hypotheses on the speed of CB M&A by Chinese companies are developed based on the liabilities perspective of organizational ecology, resource-based theory, and the concept of experience. Research samples include 514 CB M&A deals of publicly traded Chinese companies covering the period from 2002 to 2015. Regression analysis results show that the speed of CB M&A by Chinese companies is not affected by the size of the company, but new firms, despite their liabilities, initiate CB M&A early. In terms of the resource-based view, a company’s proportion of intangible resources does not affect CB M&A speed, though the proportion of state-ownership has a significant negative effect, confirming that companies with more state-ownership act as China’s foreign policy executors. Among the experience factors, companies with more experience cooperating with foreign firms in the domestic market initiate CB M&A faster, but those with more domestic M&A experience start CB M&A later. This implies that companies with a lot of experience working with foreign firms are actively using that experience and knowledge in CB M&A.

목차

I. 서론

Ⅱ. 중국의 CB M&A에 관한 선행 연구

Ⅲ. 이론적 배경과 가설 설정

Ⅳ. 연구방법론

Ⅴ. 실증분석

Ⅵ. 결론

References

키워드

Experience Learning Liabilities Merger and Acquisition Resources Speed