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PurposeThe study aims to evaluate and compare the mergers and acquisitions (M&As) performance utilising a sample of deals originating from Brazil, Russia, India, China and South Africa (BRICS). In addition to nation-wise performance analysis, a further sub-sample analysis is conducted based on the target location (domestic and cross-border), development status (developed and emerging) and the acquired ownership stakes (majority and minority).Design/methodology/approachThe final sample of the study includes 7,105 deals announced between 2000 and 2019. M&A performance is proxied by the abnormal returns earned over the select event windows. Multiple parametric and non-parametric tests are employed for testing the robustness.FindingsThe results indicate significant performance differences across BRICS markets, with the highest and lowest abnormal returns reported for Chinese and Russian acquirers, respectively. The disaggregated analysis also affirms the performance differences for the select sub-samples.Research limitations/implicationsThe study highlights the need for acknowledging and expounding the differences in M&As across emerging markets. Further, the results of the study provide a possible explanation of the disagreement over the M&A performance results reported in the previous literature.Practical implicationsAcknowledging and understanding the potential performance differences based on location, ownership strategies and development status can aid executives in sharpening decision-making and also help general investors.Originality/valueThe study contributes by examining a comprehensive sample of deals across five major emerging economies, as against the majority of previous studies which have their results based on either single nation samples or have utilised only a sub-sample of domestic or foreign acquisitions.

Purpose This study aims to examine the impact of home–host country distance on the cross-border mergers and acquisitions performance. Design/methodology/approach The results of this study are based on a final sample of 483 completed cross-border deals involving BRICS nation acquirers and targets spread across a set of 27 nations. While controlling for prior experience, among other factors, the impact of nine institutional distance dimensions on deal performance is examined. Cumulative abnormal returns calculated over the select event windows are used as a measure of deal performance. Findings The results of this study validate the explanatory power of cross-country distance and exhibit that financial and cultural distance exert a negative influence on deal performance, whereas political and global connectedness distance positively impacts performance. Interestingly, geographic distance is not found to be related to performance outcomes. Research limitations/implications The results of this study caution against possible aggregation of the cross-country distance measure and point towards the need to acknowledge and analyse the multi-dimensional nature of distance. Practical implications The results of this study are expected to aid managers in devising internationalisation strategies and target selection, maximising their performance and shareholder wealth. Originality/value This study contributes to the knowledge of internationalisation and cross-country distance. It presents as one of the first to investigate the impact of institutional distance on deal performance using a substantially large multi-country emerging market data set.

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Almost everyone is interested in learning music. But due to lack of knowledge about music, they are unable to make it happen. It is where this system comes into picture-The Swar Reorganization System will help musicians as well as music enthusiasts to have notations of a song on-the-go which in turn will elevate their music literacy.The need as you know is we live in a digital era where almost each and everything we use to interact with each other is digitalized. The main motive behind it being computerized is that it will help musicians and music enthusiast with an opportunity to record, learn and share their ideas whenever and wherever required i.e. providing portability with it which as we all know is the most vital and required function of a system these days, as your system moves with you.