Lost in translation? The effect of cultural values on mergers around the world

We find strong evidence that three key dimensions of national culture (trust, hierarchy, and individualism) affect merger volume and synergy gains. The volume of cross-border mergers is lower when countries are more culturally distant. In addition, greater cultural distance in trust and individualis...

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Bibliographische Detailangaben

Veröffentlicht in:	Journal of financial economics 2015-07, Vol.117 (1), p.165-189
Hauptverfasser:	Ahern, Kenneth R., Daminelli, Daniele, Fracassi, Cesare
Format:	Artikel
Sprache:	eng
Schlagworte:	Acquisitions & mergers Cross border transactions Cross-border Cultural differences Cultural values Hierarchy Individualism International Mergers & acquisitions National culture Rates of return Studies Translation Trust
Online-Zugang:	Volltext
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