Geopolitical risk and M&A: The role of national governance institutions
研究了1990至2018年间19个新兴经济体，发现地缘政治风险增加了国内并购交易数量，但减少了交易规模，而国家治理质量能缓解这种负面影响。
Examining nineteen emerging economies from 1990 to 2018, we identify a positive effect of geopolitical risk on mergers and acquisition (M&A) deal frequency, driven mainly by an increase in domestic M&A. However, we find a negative effect of geopolitical risk on the M&A deal size, highlighting the deadweight cost created by the geopolitical risk. The quality of national governance moderates the deterring effect of geopolitical risk.