Cross-border Mergers and Acquisitions: A Survey of Field Evidence

This paper focuses on three topics in cross-border mergers and acquisitions (CBM&As) field: motivations for CBM&As, valuation techniques and CBM&A performance (assessment and the determinants). By taking an overview of what have been found so far in academic field and investigating the practitioners’ CBM&A practice, performance, and opinions using an online survey, we aim to improve and integrate understanding of these topics, as well as identify the research gaps. Based on survey evidence, we obtained some unexpected findings, and a couple of conclusions have been drawn in the end. Meanwhile, several future research directions have been provided.