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National culture, managerial preferences, and takeover performance

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  • Breuer, Wolfgang
  • Ghufran, Bushra
  • Salzmann, Astrid Juliane

Abstract

•National culture is statistically significant in explaining different levels of takeover performance.•Countries with high individualism and uncertainty avoidance exhibit lower post-acquisition risk and stock price performance.•Masculinity has a positive effect on relative deal size and the takeover outcomes.•Results are more pronounced in the case of domestic transactions and for less globalized acquirer firms.

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  • Breuer, Wolfgang & Ghufran, Bushra & Salzmann, Astrid Juliane, 2018. "National culture, managerial preferences, and takeover performance," International Business Review, Elsevier, vol. 27(6), pages 1270-1289.
    • Handle: RePEc:eee:iburev:v:27:y:2018:i:6:p:1270-1289
    DOI: 10.1016/j.ibusrev.2018.05.008
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