Modern Social Science Research

In recent years, Chinas rapid economic development has made many remarkable achievements, transnational merger and acquisition as an important part of Chinese enterprises "going out", transnational merger and acquisition has also become an important strategy of Chinas manufacturing enterprises international strategic expansion. With the proposal of the Belt and Road Initiative in 2013, by 2020, Chinas direct investment in the countries along the Belt and Road has accumulated to US $139.85 billion, and more than 11,000 overseas enterprises have been established. Chinas cross-border mergers and acquisitions in the countries along the Belt and Road are becoming unstoppable. The host country of the acquired enterprise is an important factor for multinational enterprises to consider when choosing the acquired enterprise. The economic distance of the host country has a great impact on the decision-making and business performance of multinational enterprises. Therefore, the study of economic distance is of great significance to the performance of cross-border mergers and acquisitions of Chinese manufacturing enterprises in countries along the "Belt and Road".

Transnational M&A performance; Multidimensional distance; The Belt and Road