The impact on the acquirer´s performance of prior acquisition experience related to targets´ countries with similar cultural characteristics

Ever since the first wave of Mergers & Acquisitions (M&A’s) transactions, professionals and academics have focused on the topic with the objective of offering to the large audience clear and valuable insights on a phenomenon that has a considerable impact on the world economy. This research elaborates on the existing literature on cross-border transactions focusing on the role of past experience as a determinant of value creation for the Acquirer’s shareholders. In fact, experience as a variable of interest is narrowed down to correspond to specific cultural characteristics associated with the Target’s home country. Hence, past deals are categorized in accordance with two of the six cultural dimensions theorized by Hofstede (2010): Uncertainty Avoidance and Time Orientation. The result is the following study, aimed at providing valuable insights for managers and practitioners of the field. Therefore, I would like to thank my supervisor Youtha Cuypers for her guidance and feedback, as the support provided have pointed me toward the right direction in more than one occasion