Score contribution per author:
α: calibrated so average coauthorship-adjusted count equals average raw count
Examining nineteen emerging economies from 1990 to 2018, we identify a positive effect of geopolitical risk on mergers and acquisition (M&A) deal frequency, driven mainly by an increase in domestic M&A. However, we find a negative effect of geopolitical risk on the M&A deal size, highlighting the deadweight cost created by the geopolitical risk. The quality of national governance moderates the deterring effect of geopolitical risk.