The impact of Cross-border M&As on CSR activities of the Acquiring firms: International Evidence on French Firms

This study examines the impact of cross-border mergers and acquisitions on the CSR activities of the French acquiring firms using panel data from 235 French acquiring firms from 2000 to 2022, employing a generalized method of moment (GMM) technique. We also used a Sargan & Hansen test for instrument validity and the AR test for second-order autocorrelation. Both tests give support to the model. We found that cross-border mergers and acquisitions significantly positively impact the CSR practices of the acquiring firms in the French context. JEL Codes: Keywords: cross-border, M&As on CSR activities, French Firms