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| Main Author: | |
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| Format: | Artículo científico |
| Language: | en |
| Published: |
Universidade do Vale do Rio dos Sinos
2020
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| Online Access: | https://www.redalyc.org/articulo.oa?id=337264549004 https://www.redalyc.org/journal/3372/337264549004/ https://www.redalyc.org/journal/3372/337264549004/html/ https://www.redalyc.org/journal/3372/337264549004/337264549004.epub https://www.redalyc.org/journal/3372/337264549004/movil |
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Table of Contents:
- How Hiring Financial Advisors in Cross-Border Acquisitions in The BRICS is Driven by The Target Country Institutional Image and Home-Target Distance Luciana Orozco de Gouveia Manuel Portugal Ferreira Heidy Rodriguez Ramos Administración y Contabilidad Emerging Financial advisors Institutional image Institutional distance Mergers and acquisitions We examine how the target country’s institutional image and home-host institutional and geographic distance influence the acquirer firms’ hiring financial advisors in cross-border acquisitions (CBAs) in the BRICS. Specifically, we scrutinize whether the acquirer hires financial advisor in the acquirer firm’s country, the target country or a global advisor. We argue that the acquirer is more likely to hire a financial advisor the poorer the institutional image of the target country and the greater the home-host institutional and geographic distance. Using longitudinal data on 642 cross-border acquisitions during 2013-2017 in the BRICS – Brazil, Russia, China, India and South Africa, we empirically test the hypotheses. The findings have important implications for scholars, policymakers and managers. Our results confirm that: acquirer firms are more likely to hire a financial advisor in the acquirer’s country to advise a cross-border acquisition the greater the institutional distance between the countries. And, that acquirer firms are more likely to hire a global financial advisor to advise a cross-border acquisition the greater the geographic distance between the countries. 2020 artículo científico 1984-8196 https://www.redalyc.org/articulo.oa?id=337264549004 https://www.redalyc.org/journal/3372/337264549004/ https://www.redalyc.org/journal/3372/337264549004/html/ https://www.redalyc.org/journal/3372/337264549004/337264549004.epub https://www.redalyc.org/journal/3372/337264549004/movil en http://www.redalyc.org/revista.oa?id=3372 Base Revista de Administração e Contabilidade da UNISINOS application/pdf Universidade do Vale do Rio dos Sinos Base Revista de Administração e Contabilidade da UNISINOS (Brasil) Num.2 Vol.17