International Deal Experience and Cross‐Border Acquisitions

  title={International Deal Experience and Cross‐Border Acquisitions},
  author={Caleb Stroup},
  journal={ERN: Other Macroeconomics: National Income \& Product Accounts (Topic)},
  • C. Stroup
  • Published 1 January 2017
  • Business, Economics
  • ERN: Other Macroeconomics: National Income & Product Accounts (Topic)
I show that corporate directors' human capital facilitates international investments. Directors' experience with cross‐border transactions positively influences firms' decisions to conduct their first cross‐border acquisitions. Cross‐border acquirers are more likely to buy firms headquartered in countries with which the directors have prior deal experience. This effect is strongest for target firms headquartered in culturally and institutionally dissimilar countries. Announced… 

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