Do state visits affect cross-border mergers and acquisitions?

This paper studies the relation between state visits and cross-border merger acquisition (M&A) activity. Based on 1161 11,531 acquisitions, we find that corporations from visiting countries are more likely to acquire in hosting visit. Domestic acquisitions host country or M&As with non-visiting not elevated. Evidence instrumental variable analysis points towards a causal effect of M&A Further shows elevated activity originating can be attributed business networking reduction investment uncertainty cultural barriers.