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Ownership control of foreign affiliates : a property rights theory perspective
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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
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Official URL: http://dx.doi.org/10.1016/j.jwb.2016.08.003
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 | ||||||||||
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| 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: |
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| 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 | ||||||||||
| Adapted As: |
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