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研究生：	羅馬菈 Aza Rosmala
論文名稱：	The Influence of Lobbying Expenditure on Cross-Border Merger and Acquisition (CBM&A) The Influence of Lobbying Expenditure on Cross-Border Merger and Acquisition (CBM&A)
指導教授：	謝惠璟 Hsieh, Hui-Ching Sana
學位類別：	碩士 Master
系所名稱：	管理學院 - 國際經營管理研究所 Institute of International Management
論文出版年：	2021
畢業學年度：	109
語文別：	英文
論文頁數：	60
外文關鍵詞：	Corporate Political Activity, Corporate Lobbying, Cross-Border Merger and Acquisition, Antitrust Review Outcome
相關次數：	點閱：101 下載：0
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TABLE OF CONTENTS
ABSTRACT ................................................................................................................... I
ACKNOWLEDGEMENT........................................................................................... II
TABLE OF CONTENTS ............................................................................................ III
LIST OF TABLES ...................................................................................................... VI
LIST OF FIGURES .................................................................................................... VII
CHAPTER ONE INTRODUCTION ............................................................................ 1
1 Research Background. ................................ ................................ ..................... 1
1.1 The Importance of Merger and Acquisition. ................................ ......... 1
1.2 Regulation of Merger and Acquisition in United States. ...................... 2
1.3 Cross-border Merger and Acquisition. ................................ ................. 4
1.4 Lobbying Activity and Cross-Border Merger and Acquisition. ............. 4
2 Research Objective and Motivation. ................................ ............................... 7
3 Research Gaps and Contributions................................. ................................ ... 7
4 Research Structure. ................................ ................................ .......................... 8
CHAPTER TWO LITERATURE REVIEW............................................................... 10
1 Resource Dependence Theory (RDT). ................................ .......................... 10
2 Corporate Political Strategies. ................................ ................................ ....... 11
3 Cross-Border Merger and Acquisitions. ................................ ........................ 13
4 Antitrust Merger Review Outcome. ................................ ............................... 14
5 Corporate Lobbying and the Specific Outcome of the M&A Transaction Process. ................................ ................................ ................................ ......... 16
6 Cross-Border and the Specific Outcome of the M&A Transaction Process. . 18
7 Corporate Lobbying, and the Specific Outcome of the Cross-Border M&A Transaction Process. ................................ ................................ ..................... 20
CHAPTER THREE RESEARCH DESIGN AND METHODOLOGY ...................... 22
1 Data Collection. ................................ ................................ ............................. 22
2 Variables. ................................ ................................ ................................ ....... 23
2.1 Dependent Variables. ................................ ................................ .......... 23
2.2 Independent Variables. ................................ ................................ ........ 24
2.3 Control Variables. ................................ ................................ ............... 24
3 Regression Model and Result Expectation. ................................ ................... 27
3.1 Lobbying Expenditure to M&A’s Outcome. ................................ ........ 28
3.2 Cross-Border to M&A’s Outcome. ................................ ...................... 29
3.3 Lobbying Expenditure, Cross-Border and M&A’s Outcome. .............. 30
4 Methodology. ................................ ................................ ................................ . 31
4.1 Descriptive Statistics. ................................ ................................ .......... 31
4.2 Correlation Matrix. ................................ ................................ ............. 32
4.3 Regression Method. ................................ ................................ ............. 32
CHAPTER FOUR RESEARCH RESULTS ............................................................... 33
1 Descriptive Statistics. ................................ ................................ .................... 33
1.1 Dependent Variables. ................................ ................................ .......... 33
1.2 Independent Variables. ................................ ................................ ........ 34
1.3 Control Variables. ................................ ................................ ............... 35
2 Correlation Analysis. ................................ ................................ ..................... 41
3 Regression Results ................................ ................................ ......................... 44
3.1 Lobbying Expenditure and the Specific Outcome of the M&A Transaction. ................................ ................................ ......................... 44
3.2 Cross-Border and the Specific Outcome of the M&A Transaction. .... 48
3.3 Lobbying Expenditure and the Specific Outcome of the Cross-Border M&A Transaction. ................................ ................................ ............... 51
CHAPTER FIVE CONCLUSION AND RECOMMENDATION ............................. 54
1 Conclusions. ................................ ................................ ................................ .. 54
2 Research Implications. ................................ ................................ .................. 55
3 Research Limitation and Recommendation. ................................ .................. 56
REFERENCES ............................................................................................................ 57
                                    

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