When Money Can’t Buy Everything: Sellers’ Perspective in Cross-border Acquisition Auctions

We investigate how the role of selling firms in cross-border acquisition deals. We focus on the important but less studied context of cross-border multiple bidder acquisition auctions, in which bidders from different countries compete against each other for the acquisition of a single target. This context enables us to better understand the perspectives of selling firms by observing how sellers select or reject various bidders. Our results...