| dc.contributor.author | Fangfang Zhou | |
| dc.contributor.author | Lianghua Chen | |
| dc.contributor.author | Libin Zhao | |
| dc.contributor.author | Xiangfei Fu | |
| dc.date.accessioned | 2025-12-13T14:09:57Z | |
| dc.date.accessioned | 2026-05-18T04:52:37Z | |
| dc.date.available | 2026-05-18T04:52:37Z | |
| dc.date.issued | 2025-12-13T14:09:57Z | |
| dc.identifier.uri | https://doi.org/10.1057/s41599-025-05276-y | |
| dc.identifier.uri | http://digilib.fisipol.ugm.ac.id/repo/handle/15717717/22034 | |
| dc.description.abstract | Abstract This study examines the impact of common institutional ownership on corporate mergers and acquisitions (M&A) within China’s emerging market. The findings suggest that, while common institutional ownership decreases the likelihood of M&A, it positively influences the merger announcement effect and merger performance. The heterogeneity analysis reveals that long-term and independent institutional investors play a more significant role in facilitating effective M&A. The mechanism analysis identifies two primary channels through which common institutional ownership exerts its influence: first, by leveraging acquisition experience and informational advantages to mitigate information asymmetry; second, by appointing directors and curbing managerial opportunism to strengthen corporate governance. These findings provide novel empirical evidence regarding the dual role of common institutional ownership in M&A, enriching the literature on its economic impact in emerging markets. Furthermore, they offer valuable insights for advancing well-structured M&A practices and refining capital market regulations. | |
| dc.publisher | Springer Nature | |
| dc.subject.lcc | History of scholarship and learning. The humanities; Social Sciences | |
| dc.title | Governance or collusion? The M&A effects of common institutional ownership | |
| dc.type | Article | |
| dc.description.doi | 10.1057/s41599-025-05276-y | |
| dc.title.journal | Humanities & Social Sciences Communications | |
| dc.identifier.oai | oai:doaj.org/journal:dc8efce0f20249179c573441d9f27afd | |
