Geographic distance in cross-border acquisitions: the impact of CEO's psychological attributes

Viswa Prasad Gada, Manish Popli*, Shavin Malhotra

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

1 Citation (Scopus)


This study examines the influence of acquiring firm CEOs' psychological attributes on the geographic distance of target firms in cross-border acquisitions. Drawing on the regulatory focus theory, we argue that CEOs with a higher dispositional prevention focus are more vigilant and loss-aversive, avoiding target firms at a greater geographic distance in cross-border acquisitions. Furthermore, building on the concept of regulatory misfit, we examine the moderating effect of acquiring firm CEOs' context-specific experience and the munificence of acquiring firms' industries in priming the dispositional prevention focus. In a sample of 218 cross-border acquisitions by public firms from the United Kingdom from 2006 to 2014, we find support for our hypotheses. This study emphasizes the role of micro-foundations in cross-border acquisitions and deepens the understanding of cross-border acquisition location choice decisions.
Original languageEnglish
Article number101115
JournalJournal of International Management
Issue number1
Early online date20 Dec 2023
Publication statusPublished - Feb 2024


  • CEO
  • cross-border mergers and acquisitions
  • geographic distance
  • location choice
  • prevention focus
  • regulatory focus theory

ASJC Scopus subject areas

  • Business and International Management
  • Finance
  • Strategy and Management


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