The Impact of Reverse Cross-Border Mergers and Acquisitions in Emerging Countries on the Division Position in the Global Value Chain: A Systematic Framework of the Third Country Effect
-
Published:2023-03-08
Issue:6
Volume:15
Page:4776
-
ISSN:2071-1050
-
Container-title:Sustainability
-
language:en
-
Short-container-title:Sustainability
Author:
Liu Xia1,
Sun Hanwen1,
Liu Wei1,
Fang Jiaqi1ORCID
Affiliation:
1. School of Business, Wenzhou University, Wenzhou 325035, China
Abstract
The purpose of this paper is to build a systematic framework of the spatial spillover effects of host country heterogeneity, and to illustrate the impact of the third country effect of reverse cross-border mergers and acquisitions in emerging countries on the division position in the global value chain. We develop a composite index to measure the gap in the global value chain position, and use the ADB-MRIO database in UIBE GVC from 2010 to 2019 to conduct an empirical test, which includes 27 sample countries. The spatial modeling results suggest that both the third country effect of reverse cross-border mergers and acquisitions and the direct effect of forward cross-border mergers and acquisitions are conducive to narrowing the gap in the division position in the global value chain of China, as well as the host country. Therefore, reverse cross-border mergers and acquisitions should develop the export platform based cross-border mergers and acquisitions, while forward cross-border mergers and acquisitions are suitable for choosing the destination countries directly. An interesting insight shown by the spatial and temporal heterogeneity test is that the narrowing effect of cross-border mergers and acquisitions on the gap in the division position varies with time and space. There is also a trend of increasing convergence and spatial differentiation, and the change of this spatial spillover effect may be closely related to the bilateral relations between countries. The model of the third country effect with spatial heterogeneity affirms the spatial impact of host country heterogeneity, and provides empirical evidence for cross-border mergers and acquisitions based on export platforms.
Funder
National Social Science Foundation of China
Key Project of Philosophy and Social Science Research in Zhejiang Province
Subject
Management, Monitoring, Policy and Law,Renewable Energy, Sustainability and the Environment,Geography, Planning and Development,Building and Construction
Reference54 articles.
1. Exploring the mediating effect of managerial ability on knowledge diversity and innovation performance in reverse cross-border M & As: Evidence from Chinese manufacturing corporations;Duan;Int. J. Prod. Econ.,2022
2. Chinese reverse M&A: The Wu Wei paradigm of post-M & A integration process;Sun;Chin. Manag. Stud.,2018
3. Reverse Knowledge Transfer in Cross-Border Mergers and Acquisitions in the Chinese High-Tech Industry under Government Intervention;Su;Complexity,2021
4. Foreign acquisitions by Chinese firms: A strategic intent perspective;Rui;J. World Bus.,2008
5. Bridging the Identity Gap: Organizational Identity Asymmetry and Strategic Choices for Integration;Jiang;Manag. World,2018
Cited by
1 articles.
订阅此论文施引文献
订阅此论文施引文献,注册后可以免费订阅5篇论文的施引文献,订阅后可以查看论文全部施引文献