Abstract
This study examines the role of home market context and nature of business in cross-border acquisitions by multinational firms from emerging markets. We propose that due to inherent differences in market conditions and nature of business, service sector acquisitions outperform those by nonservice sector. Furthermore, though the decision to acquire management control in the target has desirable consequences to acquisition performance, the benefits are lower for service sector acquirers than to nonservice sector firms. Our findings are supported by analysis of 540 cross-border acquisitions by Indian firms over the period 2000-2007.
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