Yue-Kui Guo

Rethinking overseas expansion: climate risk and Chinese corporations’ cross-border mergers and acquisitions

We examine how firm-level climate risk affects cross-border merger and acquisition (M&A) initiation using 54,389 firm-year observations for Chinese A-share listed firms from 2000 to 2023. The results show that higher climate risk is associated with a significantly lower probability of initiating cross-border M&A. This...