{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,1,13]],"date-time":"2026-01-13T07:47:48Z","timestamp":1768290468277,"version":"3.49.0"},"reference-count":57,"publisher":"Emerald","issue":"5","license":[{"start":{"date-parts":[[2021,8,26]],"date-time":"2021-08-26T00:00:00Z","timestamp":1629936000000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["JKM"],"published-print":{"date-parts":[[2022,4,28]]},"abstract":"<jats:sec>\n<jats:title content-type=\"abstract-subheading\">Purpose<\/jats:title>\n<jats:p>To reconcile the existing contradictory conclusions on the relationship between cross-border mergers and acquisitions (M&amp;As) and innovation, this paper aims to propose a theoretical model of the impact of cross-border M&amp;As on technological innovation and explore the moderating role of institutional distance from the perspective of springboard theory and new institutional theory.<\/jats:p>\n<\/jats:sec>\n<jats:sec>\n<jats:title content-type=\"abstract-subheading\">Design\/methodology\/approach<\/jats:title>\n<jats:p>Through the use of the two-way fixed effect model and the U-test method, the authors test the hypotheses based on a sample of cross-border M&amp;A events of Chinese manufacturing enterprises during the period from 2006 to 2019.<\/jats:p>\n<\/jats:sec>\n<jats:sec>\n<jats:title content-type=\"abstract-subheading\">Findings<\/jats:title>\n<jats:p>The research shows that there is an inverted U-shaped relationship between cross-border M&amp;As and technological innovation. Furthermore, formal institutional distance moderates the inverted U-shaped relationship in such a way that it reaches its turning point at a smaller scale of cross-border M&amp;As, and the inverted U-shaped relationship is steeper when formal institutional distance is relatively high. The informal institutional distance moderates the inverted U-shaped relationship in such a way that it reaches its turning point at a larger scale of cross-border M&amp;As and the inverted U-shaped relationship is flatter when the informal institutional distance is relatively high.<\/jats:p>\n<\/jats:sec>\n<jats:sec>\n<jats:title content-type=\"abstract-subheading\">Originality\/value<\/jats:title>\n<jats:p>The research conclusions integrate heterogeneous views of the existing research, further clarify the influence mechanism and boundary conditions between cross-border M&amp;As and technological innovation, identify the different moderating roles of formal institutional distance and informal institutional distance and enrich the literature on knowledge transfer and recombinant innovation during post-merger integration.<\/jats:p>\n<\/jats:sec>","DOI":"10.1108\/jkm-12-2020-0905","type":"journal-article","created":{"date-parts":[[2021,8,30]],"date-time":"2021-08-30T05:06:12Z","timestamp":1630299972000},"page":"1280-1305","source":"Crossref","is-referenced-by-count":20,"title":["Cross-border M&amp;As and technological innovation: the moderating roles of formal and informal institutional distance"],"prefix":"10.1108","volume":"26","author":[{"given":"Hongxia","family":"Zhang","sequence":"first","affiliation":[]},{"given":"Huixin","family":"Yang","sequence":"additional","affiliation":[]}],"member":"140","published-online":{"date-parts":[[2021,8,26]]},"reference":[{"issue":"7","key":"key2022050515202369500_ref001","doi-asserted-by":"crossref","first-page":"1069","DOI":"10.1016\/S0048-7333(01)00184-6","article-title":"Patents and innovation counts as measures of regional production of new knowledge","volume":"31","year":"2002","journal-title":"Research Policy"},{"issue":"1","key":"key2022050515202369500_ref002","doi-asserted-by":"crossref","first-page":"277","DOI":"10.1257\/aer.103.1.277","article-title":"Innovation and institutional ownership","volume":"103","year":"2013","journal-title":"American Economic Review"},{"issue":"5","key":"key2022050515202369500_ref003","doi-asserted-by":"crossref","first-page":"1923","DOI":"10.1111\/jofi.12059","article-title":"Corporate innovations and mergers and acquisitions","volume":"69","year":"2014","journal-title":"The Journal of Finance"},{"issue":"6","key":"key2022050515202369500_ref004","doi-asserted-by":"crossref","first-page":"806","DOI":"10.1016\/j.jwb.2018.06.004","article-title":"Repatriate knowledge transfer: antecedents and boundary conditions of a dyadic process","volume":"53","year":"2018","journal-title":"Journal of World Business"},{"issue":"6","key":"key2022050515202369500_ref005","doi-asserted-by":"crossref","first-page":"1034","DOI":"10.1002\/smj.2375","article-title":"Open innovation: are inbound and outbound knowledge flows really complementary?","volume":"37","year":"2016","journal-title":"Strategic Management Journal"},{"issue":"2","key":"key2022050515202369500_ref006","doi-asserted-by":"crossref","first-page":"210","DOI":"10.1111\/joms.12441","article-title":"In and out of balance: industry relatedness, learning capabilities and post-acquisition innovative performance","volume":"57","year":"2020","journal-title":"Journal of Management Studies"},{"issue":"9","key":"key2022050515202369500_ref007","doi-asserted-by":"crossref","first-page":"1544","DOI":"10.1016\/j.respol.2012.06.008","article-title":"How firms innovate through R&D internationalization? 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