Corporate social responsibility culture and international M&amp;As

Alexandridis, George; Hoepner, Andreas G. F.; Huang, Zhenyi; Oikonomou, Ioannis

doi:10.1016/j.bar.2021.101035

Cited by 16 publications

(10 citation statements)

References 115 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Besides escalating communication costs, cultural differences may lead to higher supervision costs (Blonigen et al, 2020) and employee conflicts (Bebenroth and Hemmert, 2015), thus obstructing synergies (Brock, 2005). In the short term, some studies found that cultural differences hamper acquirers' value creation (Boateng et al, 2019) and decrease abnormal stock returns (Alexandridis et al, 2022). In particular, linguistic distance has a significantly negative effect on acquirers' abnormal returns around announcement dates (Li et al, 2018).…”

Section: Stock Market Performancementioning

confidence: 99%

See 1 more Smart Citation

How do cultural differences affect stock market performance after mergers and acquisitions? Empirical evidence from China

Liu,

Xie,

Guan

2024

ARJ

View full text Add to dashboard Cite

Purpose As cross-cultural mergers and acquisitions (M&A) have learning effects on organisations, assessing their impacts on corporate performance is crucial. This study aims to explore the impact of inter-firm cultural differences on long-term post-M&A stock market performance. Design/methodology/approach The authors select domestic M&A transactions of Chinese listed companies during 2010–2021 as the sample. Then, the authors use the partial least squares structural equation model (PLS-SEM) to construct the latent variable of cultural differences in four dimensions to explore long-term stock market performance. Findings Cultural differences first positively and then negatively impact post-M&A performance. Three transmissions mechanisms are identified: investor sentiment, takeover premiums and information disclosure quality. Further analysis reveals that acquirer stock performance improves with higher analyst coverage and non-local shareholders but worsens if there are business affiliations between the acquirer and target firms. Practical implications This study can help optimise information disclosure systems in M&A transactions for regulatory authorities and aid investors’ understanding of post-M&A performance changes. Furthermore, it can improve acquirers’ understanding of the risks and opportunities in cross-cultural M&A, thereby facilitating the adaptation of management practices to the im-pacts of cultural differences. Originality/value By integrating the theories of resource dependence and transaction costs, this study examines the reversal effect of cultural differences between merging companies on post-M&A performance. The authors use a PLS-SEM to empirically analyse the main effects and reveal three transmission mechanisms.

show abstract

Section: Stock Market Performancementioning

confidence: 99%

“…In the short term, some studies found that cultural differences hamper acquirers’ value creation (Boateng et al. , 2019) and decrease abnormal stock returns (Alexandridis et al. , 2022).…”

Section: Theoretical Framework and Research Hypothesesmentioning

confidence: 99%

How do cultural differences affect stock market performance after mergers and acquisitions? Empirical evidence from China

Liu,

Xie,

Guan

2024

ARJ

View full text Add to dashboard Cite

show abstract

“…Other theoretical perspectives have also been referred to by researchers. Those theories refer to signaling theory, learning theory, or culture clash theory and the culture synergy view [30,61,62].…”

Section: Linking Sustainability and Mandamentioning

confidence: 99%

Understanding the Relevance of Sustainability in Mergers and Acquisitions—A Systematic Literature Review on Sustainability and Its Implications throughout Deal Stages

Kayser,

Zülch

2024

Sustainability

View full text Add to dashboard Cite

The importance of transforming business models and activities toward a sustainable economy is more urgent than ever and manifests in the adoption of international agreements and regulatory initiatives. Company transactions, including mergers and acquisitions (M&A), need to pay attention to sustainability concepts and their implications. Consequently, the current and traditional literature on M&A processes acknowledges the role of sustainability as a prerequisite for success in M&A operations. However, reviews of the relationship between sustainability and M&A from an integrative perspective that highlight the pre- and post-deal stages are limited. To bring further transparency to this context, we perform a systematic review of the academic literature on the relevance and implications of sustainability in M&A, focusing on archival studies. We present an overview of major sustainability influences at different stages of the M&A process, using the perspective of the acquirer as well as the target of sustainability. We observe that in all analyzed pre- and post-deal stages, sustainability is identified as having an impact or being impacted by M&A activities. Accordingly, practitioners’ strategic consideration of sustainability for deal origination and performance is required. Furthermore, we highlight several understudied factors and create a research agenda, as research findings are, to some extent, heterogeneous and limited.

show abstract

“…It aids in maintaining group cohesion, improving adaption, and increasing motivation [25]. CSR behavior is ingrained in a company's corporate culture, which drives its commercial value; variances in CSR policy might represent demand discrepancies among stakeholders [26,27]. Internal structures and relationships with external partners can all benefit from a firm's organizational culture that allows for the integration of stakeholder viewpoints in CSR.…”

Section: Organization's Culture (In2) -mentioning

confidence: 99%

Supply Chains and Corporate Social Responsibility Orientation: An Interpretive Structural Modeling Approach

Tsoulfas

2023

KSS

View full text Add to dashboard Cite

Corporate social responsibility (CSR) operations are becoming increasingly important for businesses throughout the world. It is critical to understand how stakeholders perceive these actions to achieve the intended CSR advantages. The nature of CSR motivation has been extensively discussed, yet there are still gaps in the literature, including CSR orientation. Individual enterprises are no longer pitted against one another in modern global competitiveness; instead, a company’s supply chains (SCs) are opposed to those of its competitors. To be competitive, SC partners must be aware of stakeholders’ expectations, which are increasingly focused on sustainable practices. Apart from financial performance, organizations are increasingly held liable for the environmental and social impacts of not just their own operations, but also the operations of their whole SCs, which may include second, third, or higher-tier suppliers. As a result, from raw material extraction through product recycling, an integrated approach to SC management necessitates the development and maintenance of relational capacities across SC partners. In SC collaborations, a company’s commitment to CSR can be a critical aspect. Managing CSR becomes more difficult as SCs get more sophisticated and multitiered, and it attracts greater attention. In this paper, the key drivers that shape CSR orientation are identified based on the literature and are classified into three categories: internal, external, and SC related. A conceptual model is formulated using interpretative structural modeling and MICMAC to identify interrelationships among these drivers, based on the opinions of experts from the Greek market and academia. Keywords: supply chain, corporate social responsibility, drivers, interpretive structural modeling, Greece

show abstract

Corporate social responsibility culture and international M&As

Cited by 16 publications

References 115 publications

How do cultural differences affect stock market performance after mergers and acquisitions? Empirical evidence from China

How do cultural differences affect stock market performance after mergers and acquisitions? Empirical evidence from China

Understanding the Relevance of Sustainability in Mergers and Acquisitions—A Systematic Literature Review on Sustainability and Its Implications throughout Deal Stages

Supply Chains and Corporate Social Responsibility Orientation: An Interpretive Structural Modeling Approach

Contact Info

Product

Resources

About