The frequency and scale of cross-border mergers and acquisitions (M&As) have increased significantly during the past two decades. This is in spite of prestigious failure rates and some high profile, costly missteps such as Daimler-Chrysler or AOL-Time Warner (e.g., Gomes, Cohen, & Mellahi, 2011; Weber, Tarba, & Oberg, 2014). Research has identified that in addition to the cultural challenges that are ever-present in global M&A, significant differences in institutional environments, corporate governance practices, and market design between developed and emerging economies can further complicate cross border M&A (Bhaumik, Driffield, Gaur, Mickiewicz, & Vaaler, 2019; Young, Ahlstrom, Bruton, & Rubanik, 2011; Zhu, Ma, Sauerwald, & Peng, 2019). This work further points to the importance of extending existing theory and evidence on M&A by examining it in new national and institutional settings (Lebedev, Peng, Xie, & Stevens, 2015; Lee & Gaur, 2013).