The Performance of Chinese Enterprises in Merger and Acquisition Deals: An Empirical Study of Domestic Acquisitions Compared with Overseas Acquisitions from the Perspectives of Target Transparency and Cross-Listing
Jing Chen, Yiqin Han, Jianquan Guo

This paper empirically examines the effect of the target transparency and cross-listing on M&A performance of Chinese enterprises by using event study method and multiple linear regression analysis, with the sample of 147 cases of acquisition undertaken by Chinese listed companies from 2002 to 2020. The results show that target transparency positively affects Chinese enterprises’ M&A performance and has a greater impact on domestic M&A than on cross-border M&A; cross-listing does not have a significant impact on the relationship between target transparency and M&A performance of Chinese enterprises.

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