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China’s services sector mergers and acquisitions (M&amp;As) in emerging economies, such as the Belt and Road Strip (BRS), have been increasing rapidly. Past studies have focused on M&amp;A market value performance (MVP) in developed regions and industry sectors, ignoring M&amp;As in emerging economies and services sectors. Drawing on signal theory effects of M&amp;A announcements on MVP, this study assessed the performance of Chinese stock market reactions to M&amp;A announcements and the key factors in M&amp;A MVP in emerging economies and service sectors. The study is based on an event study of a sample of Chinese service sector M&amp;A announcements in the BRS during the years 2013–2017. The findings indicate that China’s service sector M&amp;As in the BRS have achieved significantly positive MVP since 2013. MVP was statistically significant only in the technology services and public services sub-sectors. M&amp;A contract size was positively related to service sector M&amp;A MVP. The authors discuss implications of the study findings for future research and managerial practice.

Impact of overseas M&As on Chinese service enterprises’ market value