TY - JOUR

T1 - Determinants of Mergers and Acquisitions in Emerging Asian Countries: Effects of Confucianism and Technological Development

AU - Larchenko, N.

AU - Ruzhanskaya, L.

PY - 2023

Y1 - 2023

N2 - This paper endeavors to delve into the theoretical aspects of these issues and substantiate, through empirical evidence, the cultural impact of Confucianism and technological progress on mergers and acquisitions (M&A). Our research is grounded in a database encompassing 2677 cross-border deals compiled from January 1, 2002, to January 1, 2021, for 10 burgeoning Asian markets. This study marks the first exploration of M&A deal value and firm valuation during transactions utilizing a glocal region as a case study. Our primary findings substantiate the notion that cultural affinities exert a substantialinfluence on M&A deal values, with a propensity for lower values among culturally similar countries. Congruent cultural values build trust among stakeholders and safeguard from additional risks. These results give policymakers and business entities an opportunity to adjust their decisions and refine their comprehension of factors that shape the economy.

AB - This paper endeavors to delve into the theoretical aspects of these issues and substantiate, through empirical evidence, the cultural impact of Confucianism and technological progress on mergers and acquisitions (M&A). Our research is grounded in a database encompassing 2677 cross-border deals compiled from January 1, 2002, to January 1, 2021, for 10 burgeoning Asian markets. This study marks the first exploration of M&A deal value and firm valuation during transactions utilizing a glocal region as a case study. Our primary findings substantiate the notion that cultural affinities exert a substantialinfluence on M&A deal values, with a propensity for lower values among culturally similar countries. Congruent cultural values build trust among stakeholders and safeguard from additional risks. These results give policymakers and business entities an opportunity to adjust their decisions and refine their comprehension of factors that shape the economy.

UR - http://www.scopus.com/inward/record.url?partnerID=8YFLogxK&scp=85176919585

U2 - 10.17323/j.jcfr.2073-0438.17.3.2023.28-42

DO - 10.17323/j.jcfr.2073-0438.17.3.2023.28-42

M3 - Article

VL - 17

SP - 28

EP - 42

JO - Корпоративные финансы

JF - Корпоративные финансы

SN - 2073-0438

IS - 3

ER -