TY - JOUR
T1 - Cross-border acquisition completion by emerging market MNEs revisited
T2 - Inductive evidence from a machine learning analysis
AU - Zhang, Jianhong
AU - van Witteloostuijn, Arjen
AU - Zhou, Chaohong
AU - Zhou, Shengyang
N1 - Publisher Copyright:
© 2024 The Authors
PY - 2024/2
Y1 - 2024/2
N2 - Existing empirical studies of cross-border acquisition completion by emerging market multinational enterprises remain highly contextual, yielding inconsistent evidence regarding the determinants of deal success or failure. We apply machine learning to expose underlying complexities. The learning results of LightGBM, from data on 24,693 cross-border acquisition deals involving 29 emerging countries, unveil a comprehensive picture of the relative importance and impact patterns of 59 predictors that were fragmentally, inconsistently, or not at all presented in the extant literature. Our findings offer fresh insights into the deal completion of cross-border acquisitions by emerging market multinational enterprises, suggesting novel future research priorities.
AB - Existing empirical studies of cross-border acquisition completion by emerging market multinational enterprises remain highly contextual, yielding inconsistent evidence regarding the determinants of deal success or failure. We apply machine learning to expose underlying complexities. The learning results of LightGBM, from data on 24,693 cross-border acquisition deals involving 29 emerging countries, unveil a comprehensive picture of the relative importance and impact patterns of 59 predictors that were fragmentally, inconsistently, or not at all presented in the extant literature. Our findings offer fresh insights into the deal completion of cross-border acquisitions by emerging market multinational enterprises, suggesting novel future research priorities.
KW - Complexity
KW - Cross-border acquisition completion
KW - Emerging market multinational enterprises
KW - Machine learning
UR - http://www.scopus.com/inward/record.url?scp=85185153209&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=85185153209&partnerID=8YFLogxK
U2 - 10.1016/j.jwb.2024.101517
DO - 10.1016/j.jwb.2024.101517
M3 - Article
AN - SCOPUS:85185153209
SN - 1090-9516
VL - 59
JO - Journal of World Business
JF - Journal of World Business
IS - 2
M1 - 101517
ER -