Acquirer ESG, Home Country Policy Enforcement, Country Distance, and Cross-Border Mergers and Acquisitions: Evidence from Chinese Firms

This paper examines the impact of ESG (Environmental, Social, and Governance) on cross-border M (2) Lower ESG ratings of acquirers have a significant negative impact on their M while selecting an “ESG haven” can temporarily reduce ESG rating pressure, low ESG ratings ultimately result in lower M&A performance.