“…In addition, when cross-border M&A are motivated by the desire of foreign firms to exploit local firms' complementary capabilities including technical know-how, patent rights and undervalued assets caused by in particular financial crises [3], this investment is often followed by transfer of technologies and managerial skills from local firms to foreign firms, radical restructuring, mass layoffs and “asset stripping” [4] (Chang, 2008; Meyer and Estrin, 2001). Accordingly, cross-border M&A are frequently associated with rising unemployment rates, increasing deterioration of working conditions (Lougui and Broström, 2021) and income or human capital inequality (Basu and Guariglia, 2007; Reuveny and Li, 2003; Tsai, 1995), which may boost the level of grievances in the society and the probability of domestic violence (Gissinger and Gleditsch, 1999; Rost, 2011).…”