{"id":"https://openalex.org/W3019968003","doi":"https://doi.org/10.1108/cms-11-2019-0394","title":"Market reaction to the international acquisitions by Chinese firms","display_name":"Market reaction to the international acquisitions by Chinese firms","publication_year":2020,"publication_date":"2020-04-18","ids":{"openalex":"https://openalex.org/W3019968003","doi":"https://doi.org/10.1108/cms-11-2019-0394","mag":"3019968003"},"language":"en","primary_location":{"id":"doi:10.1108/cms-11-2019-0394","doi":"https://doi.org/10.1108/cms-11-2019-0394","is_oa":false,"landing_page_url":"https://doi.org/10.1108/cms-11-2019-0394","pdf_url":null,"source":{"id":"https://openalex.org/S149205526","display_name":"Chinese Management Studies","issn_l":"1750-614X","issn":["1750-614X","1750-6158"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-c","cwts-core","jufo-1","norway-1","poland-40","russia-white-list-2"],"host_organization":"https://openalex.org/P4310319811","host_organization_name":"Emerald Publishing Limited","host_organization_lineage":["https://openalex.org/P4310319811"],"host_organization_lineage_names":["Emerald Publishing Limited"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Chinese Management Studies","raw_type":"journal-article"},"volume":null,"type":"article","is_traditional":true,"indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5053403828","display_name":"Xinzhe Lin","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I126520041","display_name":"University of Science and Technology of China","ror":"https://ror.org/04c4dkn09","country_code":"CN","type":"education","lineage":["https://openalex.org/I126520041","https://openalex.org/I19820366"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"Xinzhe Lin","raw_affiliation_strings":["School of Management, University of Science and Technology of China, Hefei, China"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"School of Management, University of Science and Technology of China, Hefei, China","institution_ids":["https://openalex.org/I126520041"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5070730443","display_name":"Yina Li","orcid":"https://orcid.org/0000-0002-5479-5174","observed_orcids":["https://orcid.org/0000-0002-5479-5174"]},"institutions":[{"id":"https://openalex.org/I126520041","display_name":"University of Science and Technology of China","ror":"https://ror.org/04c4dkn09","country_code":"CN","type":"education","lineage":["https://openalex.org/I126520041","https://openalex.org/I19820366"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"Yina Li","raw_affiliation_strings":["School of Management, University of Science and Technology of China, Hefei, China"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"School of Management, University of Science and Technology of China, Hefei, China","institution_ids":["https://openalex.org/I126520041"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5034119612","display_name":"Xiaolan Wan","orcid":"https://orcid.org/0000-0003-3626-5724","observed_orcids":["https://orcid.org/0000-0003-3626-5724"]},"institutions":[{"id":"https://openalex.org/I173911158","display_name":"Iowa State University","ror":"https://ror.org/04rswrd78","country_code":"US","type":"education","lineage":["https://openalex.org/I173911158"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Xiaolan Wan","raw_affiliation_strings":["Department of Economics, Iowa State University, Ames, Iowa, USA"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Economics, Iowa State University, Ames, Iowa, USA","institution_ids":["https://openalex.org/I173911158"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5048332133","display_name":"Jiuchang Wei","orcid":"https://orcid.org/0000-0003-4884-0669","observed_orcids":["https://orcid.org/0000-0003-4884-0669"]},"institutions":[{"id":"https://openalex.org/I126520041","display_name":"University of Science and Technology of China","ror":"https://ror.org/04c4dkn09","country_code":"CN","type":"education","lineage":["https://openalex.org/I126520041","https://openalex.org/I19820366"]},{"id":"https://openalex.org/I99065089","display_name":"Tsinghua University","ror":"https://ror.org/03cve4549","country_code":"CN","type":"education","lineage":["https://openalex.org/I99065089"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"Jiuchang Wei","raw_affiliation_strings":["School of Management, University of Science and Technology of China, Hefei, China and Center for Crisis Management Research, School of Public Policy and Management, Tsinghua University, Beijing, China"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"School of Management, University of Science and Technology of China, Hefei, China and Center for Crisis Management Research, School of Public Policy and Management, Tsinghua University, Beijing, China","institution_ids":["https://openalex.org/I126520041","https://openalex.org/I99065089"]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":3,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":2.6499,"has_fulltext":false,"cited_by_count":12,"citation_normalized_percentile":{"value":0.90407494,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":88,"max":98},"biblio":{"volume":"14","issue":"4","first_page":"915","last_page":"934"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.7675999999046326,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.7675999999046326,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10415","display_name":"International Business and FDI","score":0.2037000060081482,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.023600000888109207,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/cross-border-mergers-and-acquisitions","display_name":"cross-border mergers and acquisitions","score":0.9959999918937683},{"id":"https://openalex.org/keywords/chinese-firms","display_name":"Chinese enterprises","score":0.9639999866485596},{"id":"https://openalex.org/keywords/stock-market-reaction","display_name":"stock market reaction","score":0.7919999957084656},{"id":"https://openalex.org/keywords/cumulative-abnormal-returns","display_name":"cumulative abnormal returns","score":0.9789999723434448},{"id":"https://openalex.org/keywords/signaling-theory","display_name":"signaling theory","score":0.8659999966621399},{"id":"https://openalex.org/keywords/resource-based-view","display_name":"resource-based view","score":0.7829999923706055},{"id":"https://openalex.org/keywords/national-innovation-capability","display_name":"national innovation capability","score":0.6140000224113464},{"id":"https://openalex.org/keywords/chinese-stock-market","display_name":"Chinese stock market","score":0.7160000205039978},{"id":"https://openalex.org/keywords/hong-kong-stock-market","display_name":"Hong Kong stock market","score":0.9480000138282776},{"id":"https://openalex.org/keywords/emerging-markets","display_name":"emerging markets","score":0.6179999709129333}],"concepts":[{"id":"https://openalex.org/C12958728","wikidata":"https://www.wikidata.org/wiki/Q1002530","display_name":"Event study","level":3,"score":0.6735128164291382},{"id":"https://openalex.org/C548217281","wikidata":"https://www.wikidata.org/wiki/Q731112","display_name":"Mergers and acquisitions","level":2,"score":0.604197084903717},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.5645427703857422},{"id":"https://openalex.org/C121087249","wikidata":"https://www.wikidata.org/wiki/Q546395","display_name":"Emerging markets","level":2,"score":0.541961669921875},{"id":"https://openalex.org/C2780299701","wikidata":"https://www.wikidata.org/wiki/Q475000","display_name":"Stock market","level":3,"score":0.5396319627761841},{"id":"https://openalex.org/C204036174","wikidata":"https://www.wikidata.org/wiki/Q909380","display_name":"Stock (firearms)","level":2,"score":0.4950034022331238},{"id":"https://openalex.org/C2776291640","wikidata":"https://www.wikidata.org/wiki/Q2912517","display_name":"Value (mathematics)","level":2,"score":0.45045924186706543},{"id":"https://openalex.org/C2776950860","wikidata":"https://www.wikidata.org/wiki/Q2914681","display_name":"Originality","level":3,"score":0.4226970970630646},{"id":"https://openalex.org/C40700","wikidata":"https://www.wikidata.org/wiki/Q1411783","display_name":"Industrial organization","level":1,"score":0.37031280994415283},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.35418760776519775},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.3352817893028259},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.2535383403301239},{"id":"https://openalex.org/C151730666","wikidata":"https://www.wikidata.org/wiki/Q7205","display_name":"Paleontology","level":1,"score":0.0},{"id":"https://openalex.org/C2779343474","wikidata":"https://www.wikidata.org/wiki/Q3109175","display_name":"Context (archaeology)","level":2,"score":0.0},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.0},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0},{"id":"https://openalex.org/C78519656","wikidata":"https://www.wikidata.org/wiki/Q101333","display_name":"Mechanical engineering","level":1,"score":0.0},{"id":"https://openalex.org/C119857082","wikidata":"https://www.wikidata.org/wiki/Q2539","display_name":"Machine learning","level":1,"score":0.0},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.0},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0},{"id":"https://openalex.org/C2780762169","wikidata":"https://www.wikidata.org/wiki/Q5905368","display_name":"Horse","level":2,"score":0.0},{"id":"https://openalex.org/C127413603","wikidata":"https://www.wikidata.org/wiki/Q11023","display_name":"Engineering","level":0,"score":0.0},{"id":"https://openalex.org/C11012388","wikidata":"https://www.wikidata.org/wiki/Q170658","display_name":"Creativity","level":2,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.1108/cms-11-2019-0394","doi":"https://doi.org/10.1108/cms-11-2019-0394","is_oa":false,"landing_page_url":"https://doi.org/10.1108/cms-11-2019-0394","pdf_url":null,"source":{"id":"https://openalex.org/S149205526","display_name":"Chinese Management Studies","issn_l":"1750-614X","issn":["1750-614X","1750-6158"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-c","cwts-core","jufo-1","norway-1","poland-40","russia-white-list-2"],"host_organization":"https://openalex.org/P4310319811","host_organization_name":"Emerald Publishing Limited","host_organization_lineage":["https://openalex.org/P4310319811"],"host_organization_lineage_names":["Emerald Publishing Limited"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Chinese Management Studies","raw_type":"journal-article"}],"best_oa_location":null,"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":92,"referenced_works":["https://openalex.org/W47843970","https://openalex.org/W277455787","https://openalex.org/W1547778631","https://openalex.org/W1745275624","https://openalex.org/W1791522095","https://openalex.org/W1863359663","https://openalex.org/W1964082292","https://openalex.org/W1964482998","https://openalex.org/W1970481289","https://openalex.org/W1973685231","https://openalex.org/W1984823622","https://openalex.org/W1992524498","https://openalex.org/W1995434879","https://openalex.org/W2003070855","https://openalex.org/W2004497013","https://openalex.org/W2009957539","https://openalex.org/W2011610583","https://openalex.org/W2013248312","https://openalex.org/W2018704953","https://openalex.org/W2019665365","https://openalex.org/W2020595149","https://openalex.org/W2023006733","https://openalex.org/W2027889491","https://openalex.org/W2035465815","https://openalex.org/W2039284821","https://openalex.org/W2039380675","https://openalex.org/W2043895052","https://openalex.org/W2044221963","https://openalex.org/W2045303424","https://openalex.org/W2045494800","https://openalex.org/W2055218422","https://openalex.org/W2056692057","https://openalex.org/W2058228111","https://openalex.org/W2059404387","https://openalex.org/W2066778800","https://openalex.org/W2071511656","https://openalex.org/W2072059359","https://openalex.org/W2073992641","https://openalex.org/W2074612426","https://openalex.org/W2076394335","https://openalex.org/W2077147238","https://openalex.org/W2082579709","https://openalex.org/W2083164629","https://openalex.org/W2086502435","https://openalex.org/W2088249224","https://openalex.org/W2092906324","https://openalex.org/W2097916175","https://openalex.org/W2107838675","https://openalex.org/W2111135535","https://openalex.org/W2111368681","https://openalex.org/W2112256230","https://openalex.org/W2117375857","https://openalex.org/W2119475926","https://openalex.org/W2120514318","https://openalex.org/W2126930223","https://openalex.org/W2128778916","https://openalex.org/W2128876255","https://openalex.org/W2130162792","https://openalex.org/W2133521315","https://openalex.org/W2135025752","https://openalex.org/W2142257426","https://openalex.org/W2144756260","https://openalex.org/W2154586409","https://openalex.org/W2161217130","https://openalex.org/W2166498485","https://openalex.org/W2325242455","https://openalex.org/W2416868893","https://openalex.org/W2462426779","https://openalex.org/W2476862797","https://openalex.org/W2572907005","https://openalex.org/W2989233269","https://openalex.org/W3049675738","https://openalex.org/W3121134069","https://openalex.org/W3122150082","https://openalex.org/W3122741475","https://openalex.org/W3122954612","https://openalex.org/W3123753686","https://openalex.org/W3123790701","https://openalex.org/W3123914693","https://openalex.org/W3124230926","https://openalex.org/W3124242212","https://openalex.org/W3124613598","https://openalex.org/W3124696970","https://openalex.org/W3125031671","https://openalex.org/W3125329271","https://openalex.org/W3125397542","https://openalex.org/W3125571233","https://openalex.org/W3125721268","https://openalex.org/W3125883168","https://openalex.org/W3125913577","https://openalex.org/W4255461888","https://openalex.org/W4290007224"],"related_works":["https://openalex.org/W2476862797","https://openalex.org/W2358813212","https://openalex.org/W2318334650","https://openalex.org/W4376648750","https://openalex.org/W2389608894","https://openalex.org/W2119475926","https://openalex.org/W2806927924","https://openalex.org/W3136544941","https://openalex.org/W4407263450","https://openalex.org/W7081701776"],"abstract_inverted_index":{"Purpose":[0],"The":[1,109,186],"purpose":[2],"of":[3,11,62,75,85,160,178,191,207,212,223],"this":[4],"paper":[5],"is":[6],"to":[7,71,94],"examine":[8],"the":[9,20,34,42,47,56,60,65,73,105,125,137,147,156,161,164,169,179,189,192,195,205,208,213,220,224],"effects":[10],"cross-border":[12,63,98,113,225],"mergers":[13],"and":[14,40,96,146,168,197,202,216],"acquisitions":[15,88],"(M&As)":[16],"by":[17,49,77,89],"firms":[18,36,50,91,127,166],"in":[19,37,51,104,116,120,129,136,151,173],"emerging":[21,38],"marketing":[22],"on":[23,33,59],"stock":[24,106,200],"market":[25,229],"cumulative":[26],"abnormal":[27],"returns":[28],"(CARs).":[29],"This":[30],"research":[31],"focuses":[32],"acquiring":[35,126,170,180],"markets":[39,131,201],"broadens":[41],"existing":[43],"scope":[44],"which":[45],"highlights":[46],"M&As":[48,76,99,114,226],"developed":[52],"countries.":[53],"Design/methodology/approach":[54],"Regarding":[55],"controversial":[57],"argument":[58],"effect":[61],"M&As,":[64],"authors":[66,187],"introduce":[67],"a":[68,101,121,228],"resource-based":[69],"theory":[70,145],"explain":[72],"motivation":[74],"Chinese":[78,90],"firms,":[79],"conduct":[80],"an":[81],"event":[82],"study":[83],"analysis":[84],"472":[86],"international":[87],"from":[92,194],"2010":[93],"2015":[95],"indicate":[97],"as":[100,227],"positive":[102,118,176],"signal":[103],"market.":[107,140],"Findings":[108],"results":[110],"reveal":[111],"that":[112,135],"result":[115],"significantly":[117],"CARs":[119],"short":[122],"term":[123],"for":[124,134],"listed":[128],"mainland":[130,196],"but":[132],"not":[133],"Hong":[138,198],"Kong":[139,199],"Furthermore,":[141],"consistent":[142],"with":[143],"signaling":[144],"investors\u2019":[148,221],"heuristic":[149],"thinking":[150],"decision-making,":[152],"investors":[153,193],"may":[154],"adopt":[155],"technological":[157],"innovation":[158,210],"capability":[159,211],"country":[162],"where":[163],"target":[165,214],"locate,":[167],"firm\u2019s":[171,181],"preannouncement":[172,218],"shaping":[174],"their":[175],"judgment":[177],"near":[182],"future":[183],"performance.":[184],"Originality/value":[185],"distinguished":[188],"responses":[190],"investigated":[203],"how":[204],"knowledge":[206],"national":[209],"firm":[215],"acquisition":[217],"influence":[219],"interpretation":[222],"signal.":[230]},"counts_by_year":[{"year":2024,"cited_by_count":1},{"year":2023,"cited_by_count":1},{"year":2022,"cited_by_count":4},{"year":2021,"cited_by_count":6}],"updated_date":"2026-11-07T11:25:07.637180","created_date":"2020-05-01T00:00:00"}
