Cross-Border Acquisitions and Firm Financial Performance: The Overlooked Role of Training Investments
Ladataan...
Hyväksytty kirjoittajan käsikirjoitus - 704.62 KB
Huom! Tiedosto avautuu julkiseksi: 28.05.2028
Saeed, A., Kolev, K. D., Hussain, T., Pichler, S., & Malik, O. F. (2026). Cross-Border Acquisitions and Firm Financial Performance: The Overlooked Role of Training Investments. Human resource management, e70078. https://doi.org/10.1002/hrm.70078
© 2026 John Wiley & Sons. This is the peer reviewed version of the following article: Saeed, A., Kolev, K. D., Hussain, T., Pichler, S., & Malik, O. F. (2026). Cross-Border Acquisitions and Firm Financial Performance: The Overlooked Role of Training Investments. Human resource management, e70078, which has been published in final form https://doi.org/10.1002/hrm.70078. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Use of Self-Archived Versions. This article may not be enhanced, enriched or otherwise transformed into a derivative work, without express permission from Wiley or by statutory rights under applicable legislation. Copyright notices must not be removed, obscured or modified. The article must be linked to Wiley’s version of record on Wiley Online Library and any embedding, framing or otherwise making available the article or pages thereof by third parties from platforms, services and websites other than Wiley Online Library must be prohibited.
Lataukset11
Pysyvä osoite
Kuvaus
Cross-border acquisitions involving developed and emerging economies serve as an important source of organizational learning and performance renewal. Yet, how these cross-border learning opportunities are internalized through human capital investment and how such investments influence post-acquisition outcomes remain a theoretically rich but empirically underexplored question. Based on the resource-based view of the firm and, in conjunction, the absorptive capacity literature, we propose that acquisitions between firms from different economic categories (developed vs. emerging economies) have a positive effect on the training investments, which, in turn, positively mediates the effect of cross-border acquisitions on post-acquisition firm performance. We further propose firm-specific contingencies that bound the relationships between cross-border acquisitions, training investments, and firm performance. Specifically, we argue that acquirers with prior experience are less reliant on training investments, and R&D of the acquired firm plays a complementary role to training investments in generating higher returns from the acquisition. We test these propositions using data on 1759 acquisition deals during the period 2004–2023. Our results provide support for our theoretical arguments. The findings advance the human resource management literature by highlighting the capability-building role of training in leveraging human capital to enhance firm performance in cross-border acquisitions. The study also has practical implications for multinational acquirers aiming to strengthen organizational capabilities and build post-acquisition resilience through targeted training investments.
Emojulkaisu
ISBN
ISSN
1099-050X
0090-4848
0090-4848
Aihealue
Kausijulkaisu
Human resource management
OKM-julkaisutyyppi
A1 Alkuperäisartikkeli tieteellisessä aikakauslehdessä (vertaisarvioitu)