Exploring emerging trends and the evolution of cross-border mergers and acquisitions: a bibliometric review

With the development of globalisation, more and more companies have been stimulated to make cross-border Mergers and Acquisitions (M&A) to improve company strength and diversified investment across national boundaries. This study uses bibliometric methods to sort 308 articles from 1900 to 2019 from the core collection of international M&A studies. An integrated bibliometric analysis framework of cross-border M&As is proposed which incorporates descriptive statistical analysis, co-cited analysis, collaboration and co-occurrence networking with clustering methods to identify the most high-impact institutions, journals and academics within this evolving field. This research analyses the keyword co-occurrence network cluster diagrams and the co-cited network clustering time-zone maps to identify research hotspots and to understand the evolution of international M&A literature. Empirical results indicate that the frontiers of international M&A are integration and technological innovations. Based on this research, two future research directions are suggested, focusing on crossover and the need to establish a quantitative base for theoretical research. The framework, methods and conclusions derived through this research provide practicable applications for both academic research and enterprises.