No abstract

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Extending the home base perspective by considering investors' parent countries, this study examines the effect of economic freedom ( EF ) on emerging-market enterprises' ( EMEs ) overseas acquisition completion in developed countries. Using a large data set of 5,174 cross-border acquisition deals from ten major emerging markets ( EMs ) during 1985-2011, we fi nd that (1) the probability of deal completion is positively associated with the levels of EF of the acquirers' countries, the acquirers' parent and the target; (2) the EF of the countries of acquirers' parents has a substitutive effect on that of the acquirers' countries; (3) the difference of EF between the targets' countries and the countries of acquirers' parents negatively infl uences deal completion; and (4) the difference of EF between the targets' countries and the acquirers' countries negatively infl uences deal completion. These fi ndings FEATURE ARTICLE

No abstract

The experience of Dutch international companies is that divestments in the 1980s and 1990s brought increased strategic focus to management and stock market favour.