At a time when China encourages its firms to go overseas, especially to countries and regions involved in its "Belt and Road Initiative", and sets up a favorable domestic environment for innovation and entrepreneurship, this paper is a first trial looking along both the two dimensions to test whether Chinese firms’ operating performance changes after cross-border merger and acquisition（CBM&A） activities, using entrepreneurial orientation（EO） as a moderating factor. The paper combines data from Chinese listed firms’ annual reports, Chinese...
