Intergovernmental relations among sovereign states significantly influence international cross-border mergers and acquisitions (M&A). This study examines Chinese companies' cross-border M&A activities along the Belt and Road Initiative (B&R) from 2008 to 2020, exploring how these relations, along with social responsibility, affect Chinese firms' M&A performance. The findings highlight that B&R cooperation agreements enhance Chinese companies' M&A efforts, while third-party market agreements with non-B&R countries reduce investment barriers and bolster confidence. Moreover, strong bilateral political ties positively correlate with successful Chinese M&A endeavors. The study further underscores that social responsibility amplifies the positive effects of intergovernmental relations on Chinese firms' M&A success within the B&R framework.

Ying Chen, Fang Ma, Tingting Zhou. The Inter-governmental Relations among Sovereign States, Social Responsibility and the Completion of Cross-border Mergers and Acquisitions Transactions by Chinese Companies along the “Belt and Road’’. Academic Journal of Business & Management (2024) Vol. 6, Issue 7: 24-32. https://doi.org/10.25236/AJBM.2024.060703.

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