Varieties of institutional systems, ownership characteristics and cross-border acquisitions: A comparative study of Brazil and China

Cai, Catherine

Abstract

In this paper, we use the Varieties of Institutional Systems framework and comparative institutional perspective to compare and contrast the home country institutional factors in two emerging countries: Brazil and China. Our focus is on exploring how these home country institutions would impact outward foreign direct investment and cross-border mergers and acquisitions. In particular, we emphasize two distinct firm ownership characteristics: state ownership and business group affiliation. Our results show some interesting findings between firm ownership characteristics and deal characteristics such as deal structure, location choices, method of payment, and industrial diversification.

• Presentation Conference Type: Conference Paper (published)
• Conference Name: Academy of International Business UK&I 2024 Annual Conference
• Start Date: Apr 4, 2024
• End Date: Apr 6, 2024
• Acceptance Date: Feb 16, 2024
• Online Publication Date: Apr 4, 2024
• Publication Date: Apr 4, 2024
• Deposit Date: Apr 10, 2024
• Keywords: comparative institutions, Brazil, China, cross-border M&As, OFDI
• Public URL: https://uwe-repository.worktribe.com/output/11886041