报告题目： Political Networking: Consequences for Cross-Border Acquisitions of Peer Firms
报 告 人： 吴志岩 鹿特丹伊拉斯姆斯大学
报告时间：2023年11月1日(周三) 16:00-17:30
报告地点：中国科学院大学中关村校区教学楼S406
腾讯会议：816-5319-3902
内容摘要
Using a regression discontinuity design in a sample of U.S. congressional special elections, we investigate how political networking by one firm (networking firm) will affect the cross-border acquisition activity by its peers (peer firms) that compete in the same product market. Relying on the victory or failure of political campaigns with a narrow margin of votes, we find that when the networking firm donated to a politician who just marginally won a special election, the cross-border acquisition activity by its peer firms in the following year is 18.75% higher than that of the peer firms when the networking firm had donated to a politician who just lost a special election by a small margin. The effect appears even stronger when the product similarity between the networking firm and peer firms is higher and when the winning politicians secure senior positions in Congress. Our findings contribute to the political networking literature and inform a behavioral understanding of corporate cross-border acquisition activity.
主讲人简介
吴志岩，2015年于浙江大学管理学院获得博士学位，师从许庆瑞院士。目前任职于荷兰伊拉斯姆斯大学，任助理教授。研究聚焦于战略管理，擅长使用因果推断方法。研究成果发表在Academy of Management Journal、Journal of Management、Management Science、Organization Science。担任Academy of Management Journal、Academy of Management Review、Journal of Management、Management Science、Organization Science、Strategic Management Journal等期刊的匿名审稿人。曾获得美国管理学会战略管理分部优秀审稿人、伊拉斯姆斯大学战略与创业领域教学奖等荣誉。
