Global meets local: community political ideology and Chinese cross-border M&As in the US

• 成果类型: Article
• 署名作者: Tang, Yinuo; Bu, Juan; Wang, Danqing; Shi, Weilei
• 署名单位: Peking University; Peking University Shenzhen Graduate School (PKU Shenzhen); Indiana University System; Indiana University Bloomington; IU Kelley School of Business; Hong Kong University of Science & Technology
• 刊物名称: JOURNAL OF INTERNATIONAL BUSINESS STUDIES
• ISSN/ISSBN: 0047-2506
• DOI: 10.1057/s41267-025-00836-5
• 发表日期: 2026
• 关键词: import competition; emerging market; FIRMS; acquisitions; determinants; polarization; conservatism; performance; enterprises; completion

摘要

The intensifying rivalry between major global economies highlights the need to better understand the politicized nature of international business. This study introduces a new political factor-community political ideology (i.e., the dominant political ideology along the liberalism-conservatism spectrum among a community's members)-and examines its influences on cross-border M&As between countries that are deemed as economic and political rivals. Building on the literature on political ideology and cross-border M&A, we argue that conservative communities tend to perceive greater threats and uncertainty posed by cross-border M&As from rival countries and therefore exert stronger resistance to these deals. Using Chinese cross-border M&As in the U.S. as a research context, we predict that these M&As are less likely to be completed in U.S. communities with a higher proportion of conservative residents. Moreover, the negative effect of community conservatism on the completion of Chinese M&A deals in the U.S. is further enhanced when the target firms are in sensitive industries or when the target communities suffer from greater economic distress. An analysis of 267 Chinese cross-border M&As in the U.S. from 2002 to 2021 supports these arguments. Our study contributes to research on geopolitical rivalry, political ideology, and cross-border M&As.