Driffield, Nigel L., Mickiewicz, Tomasz and Temouri, Yama (2016) Ownership control of foreign affiliates : a property rights theory perspective. Journal of World Business, 51 (6). pp. 965-976. doi:10.1016/j.jwb.2016.08.003 ISSN 1090-9516.

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Abstract

This paper applies property rights theory to explain changes in foreign affiliates' ownership. Post-entry ownership change is driven by both firm-level characteristics and by the differences in the institutional environments in host countries. We distinguish between financial market development and the level of corruption as two different institutional dimensions, such that changes along these dimensions impact upon ownership change in different ways. Furthermore, we argue that changes in ownership are affected by the foreign affiliate's relatedness with its parent's sector, as well as by the affiliate's maturity. We use firm level data across 125 host countries to test our hypotheses.

Item Type:	Journal Article
Subjects:	H Social Sciences > HF Commerce
Divisions:	Faculty of Social Sciences > Warwick Business School
Library of Congress Subject Headings (LCSH):	Investments, Foreign , Stock ownership, Right of property, Incomplete contracts, Corruption
Journal or Publication Title:	Journal of World Business
Publisher:	Elsevier
ISSN:	1090-9516
Official Date:	November 2016
Dates:	Date Event November 2016 Published 28 August 2016 Available 25 August 2016 Accepted 6 July 2015 Submitted
Volume:	51
Number:	6
Page Range:	pp. 965-976
DOI:	10.1016/j.jwb.2016.08.003
Status:	Peer Reviewed
Publication Status:	Published
Access rights to Published version:	Open Access (Creative Commons)
Date of first compliant deposit:	25 August 2016
Date of first compliant Open Access:	5 September 2016
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