Driffield, Nigel, 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.
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.
Publication DOI: | https://doi.org/10.1016/j.jwb.2016.08.003 |
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Divisions: | College of Business and Social Sciences > Aston Business School > Economics, Finance & Entrepreneurship College of Business and Social Sciences > Aston Business School College of Business and Social Sciences > Aston Business School > Centre for Personal Financial Wellbeing |
Additional Information: | © 2016 The Authors. Published by Elsevier Inc. This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/). |
Uncontrolled Keywords: | foreign direct investment,ownership,ownership change,property rights theory,incomplete contracts,corruption,financial markets,Business and International Management,Finance,Marketing |
Publication ISSN: | 1878-5573 |
Last Modified: | 30 Sep 2024 10:57 |
Date Deposited: | 29 Sep 2016 14:00 |
Full Text Link: | |
Related URLs: |
http://www.scop ... tnerID=8YFLogxK
(Scopus URL) |
PURE Output Type: | Article |
Published Date: | 2016-11-01 |
Published Online Date: | 2016-09-28 |
Accepted Date: | 2016-08-25 |
Submitted Date: | 2015-07-06 |
Authors: |
Driffield, Nigel
Mickiewicz, Tomasz ( 0000-0001-5261-5662) Temouri, Yama ( 0000-0003-3014-258X) |