International music preferences as a measure of culture: evidence from cross-border mergers
研究发现，两国公民的音乐偏好越接近（即相互听对方音乐），两国间的跨境并购交易越多，表明音乐偏好可衡量国际文化相似性。
This paper introduces the significance of international music preferences as a determinant of cross-border mergers. We argue that international music preferences capture the distance in culture between nations. We find that country pairs whose citizens experience relatively small distance in their music preferences (listen to each other’s music) exhibit more cross-border mergers. Overall, this study highlights that music preferences can measure international similarities in culture.