The Effect of National Distance and Industry Relatedness on Post-Acquisition Performance: Emerging Country MNEs in Developed Countries

Yıl 2021, Cilt: 6 Sayı: 2, 59 - 71, 30.12.2021

Sibel Ayas

Öz

Based on 75 cross-border acquisitions from China, India, South Africa, and Turkey, this study investigates the role of national distance and industry relatedness in increasing post-acquisition performance of acquiring firms from developing countries from 2007 to 2015. This study focuses on acquiring firms only operating in knowledge-intensive industries such as computer, software, and health technologies. Findings show that cultural distance has a negative relationship with post-acquisition performance. In contrast, knowledge distance and economic distance lead to a significant increase in acquiring firms' return on assets. Human resource distance, on the other hand, has no significant relationship with performance. The relationship between industry-relatedness and post-acquisition performance appears to be statistically insignificant.

Anahtar Kelimeler

National Distance, Industry Relatedness, Firm Performance, Cross-Border Acquisition, Emerging Economies

Destekleyen Kurum

TUBITAK

Ulusal Mesafe ve Sektörel İlişkililiğin Satın Alma Sonrası Performans Üzerindeki Etkisi: Gelişmiş Ülkelerdeki Gelişmekte Olan Ülke ÇUŞ’leri

Öz

Bu araştırmada, 2007-2015 dönemi boyunca Çin, Hindistan, Güney Afrika ve Türkiye’de gerçekleştirilen 75 satın alma faaliyeti incelenmiştir. Araştırmanın amacı, gelişmekte olan ülke firmalarının satın alma sonrası performansını artırmada ulusal mesafenin ve sektörel ilişkililiğin rolünü araştırmaktır. Bu çalışmada özellikle bilgisayar, yazılım veya sağlık teknolojileri gibi bilgi yoğun sektörlerde faaliyet gösteren şirket satın alımlarını incelenmektedir. Araştırmanın sonucu, kültürel mesafe ile firma performansı arasındaki ilişkinin negatif olduğunu, bilgi mesafesi ve ekonomik mesafenin ise firmaların aktif karlılık oranı üzerinde önemli bir artışa yol açtığını göstermektedir. Bunun aksine, insan kaynağı mesafesi ile performans arasında anlamlı bir ilişki yoktur. Bunun yansıra, sektörel ilişkililik ile satın alma sonrası performans arasındaki ilişki istatistiksel olarak anlamsızdır.

Anahtar Kelimeler

Ulusal Mesafe, Sektörel İlişkililik, Firma Performansı, Sınır-Ötesi Satın Alma, Gelişmekte Olan Ülkeler

Kaynakça

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