Economies (Jul 2024)

Post-Acquisition Operating Performance of Acquiring Firms following Cross-Border Mergers and Acquisitions

  • Aamir Khan,
  • David Kalisz

DOI
https://doi.org/10.3390/economies12070172
Journal volume & issue
Vol. 12, no. 7
p. 172

Abstract

Read online

This study investigates the firms’ performance following cross-border mergers and acquisitions (M&As) from 2000 to 2022, employing the generalized method of moments (GMM) technique within the French context. Grounded in the theories of organizational learning and the institutional-based view, the empirical findings reveal that acquiring firms exhibit an improved long-term performance after engaging in cross-border M&A deals. Additionally, acquisition experience and industry relatedness significantly enhance the firms’ performance. Institutional quality and cultural similarity are also found to positively moderate the impact of cross-border M&As on firms’ performance.

Keywords