AIB 2012 Conference Proceedings - Academy of International ...

TUESDAY
Session: 3.2.P - Special Session
2012 JIBS Decade Award
Presented On: July 3, 2012 - 10:45-12:00
Chair: John Cantwell, Rutgers University
Retrospective on his 2012 JIBS Decade Award winning article, 'Institutional, cultural and transaction cost
influences on entry mode choice and performance', JIBS, 33(2):203-221.
Keith D. Brouthers, North Carolina State University
Discussants and Commentators:
Xavier Martin, Tilburg University
Myles Shaver, University of Minnesota
(For more information, please contact: John Cantwell, Rutgers University, USA: cantwell@business.rutgers.edu)
Session: 3.2.11 - Interactive
Track: 8 - Developing Country MNCs
Foreign Market Entry Strategies of Developing Economy Multinationals
Presented On: July 3, 2012 - 10:45-12:00
Chair: Nikhil Celly, University of Hong Kong
The Motives and Performance of Cross-border Acquirers from Emerging Economies
Rekha Rao Nicholson, University of Bath
Julie Salaber, University of Bath
During the recent decade, the world has witnessed the rapid growth of MNEs from emerging economies. Their
increasing participation in cross-border mergers and acquisitions (M&As) has raised great attention in the extant
literature. This study evaluates the value creation from these cross-border transactions from two representative
emerging countries, namely China and India, and determines factors that result in the different performance of
these international acquisition activities. Cross-border M&As conducted by these countries' companies indeed
lead to significant shareholder wealth creation. Furthermore, Indian shareholders are more likely to benefit from
deals in English-speaking countries, while Chinese investors gain favorable returns from the cross-border
expansion of manufacturing companies. Location also affects the performance of cross-border M&As, with
acquisitions into developed countries generating higher returns to shareholders. These results are based on a
sample of 203 Indian and 63 Chinese cross-border M&A deals over the period 2000-2010 and hold after
controlling for various deal-level and firm-level characteristics. (For more information, please contact: Julie
Salaber, University of Bath, United Kingdom: js509@management.bath.ac.uk)
Queen Bee Colonization Strategy - Metaphor for Capturing Hyundai Motor's Entry into the India Automotive
Market
Hyeong-Deug Kim, Simon Fraser University
Rosalie L. Tung, Simon Fraser University
AIB 2012 Conference Proceedings
Page 210