دانلود رایگان مقاله لاتین مالکیت از موسسه وابسته به خارج از سایت الزویر
عنوان فارسی مقاله:
کنترل مالکیت از مؤسسات وابسته به خارج:دیدگاه نظریه حقوق مالکیت
عنوان انگلیسی مقاله:
Ownership control of foreign affiliates: A property rights theory perspective
سال انتشار : 2016
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مقدمه انگلیسی مقاله:
1. Introduction
Firm ownership remains a core construct in the international business (IB) literature (Aguilera & Crespi-Cladera, 2016). The need to retain ownership and control of firm-specific assets is at the core of internalisation theory and is a founding pillar of the dominant paradigms in IB. Indeed, as discussed in the recent retrospective by Brouthers (2013), the large literature on entry modes has explored ownership decisions at the point of entry, particularly with the aid of transaction cost theory. However, there is limited understanding of how multinational enterprises (MNE) and local partners adjust their ownership shares as the external environment changes. The existing theory on ownership change builds primarily on the tradition of Johanson and Vahlne (1977, 2009) who emphasise experiential learning and the evolutionary aspects of the process of ownership structure adjustment. However, the existing literature treats the evolution of foreign presence in a location as being, ceteris paribus, an incremental process of increased commitment. Accordingly, many studies adopt a theoretical framework that is in line with the Uppsala model (see e.g., Brouthers & Bamossy, 1997; and Globerman & Shapiro, 2003), which argues that firms internationalise incrementally based on their ability to successfully leverage their ownership advantages into new markets. However, to use this argument in order to explore the nature of the relationship between experience and affiliate ownership is, as Birkinshaw and Morrison (1995) point out, misleading. Rather, it is important to emphasise that the process of ownership change is driven by a variety of factors, resulting in an increase or a decrease in shares held by the foreign investor over time. Importantly, these follow not only the foreign investor’s strategy but are co-determined by the local partner’s incentives and motivation in holding the remainder of the affiliates’ ownership shares. We incorporate this aspect into the analysis in order to consider the relative value of both the foreign and the local partner’s contributions at the affiliate level. We argue that the evolution of the relative value of these contributions varies not only due to firm-level features and processes (relatedness of affiliate to parent and maturity of the affiliate), but also due to the institutional environments. Our study, therefore, contributes to the literature on internationalisation and ownership change in several ways.
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کلمات کلیدی:
Foreign affiliates statistics - FATS - Statistics Explained ec.europa.eu/eurostat/statistics-explained/index.../Foreign_affiliates_statistics_-_FATS Figure 1:Enterprises by ownership in EU-28, 2011. There is ... Outward FATS describe the activity of foreign affiliates abroad controlled by the compiling country. [PDF]Foreign Affiliates and Business Cycle Comovement https://www.ecb.europa.eu/home/pdf/research/compnet/Martin&Al_2012.pdf?... by J Kleinert - 2012 - Cited by 30 - Related articles also in terms of their ownership structure from smaller firms. ... it gives information on majority-owned affiliates that are controlled by foreign groups. The. Glossary:Foreign affiliates statistics (FATS) - Statistics Explained ec.europa.eu/eurostat/statistics.../index.../Glossary:Foreign_affiliates_statistics_(FATS) Dec 10, 2014 - Foreign affiliates statistics, abbreviated as FATS, describe the ... foreign control, and thus other cases (multiple minority ownership, joint ... [PDF]The Performance of Foreign Affiliates in German Manufacturing - freit www.freit.org/RMET/2012/SubmittedPapers/John_P._Weche_Geluebcke53.pdf by JPW Gelübcke - 2011 - Cited by 40 - Related articles heterogeneity of foreign-controlled affiliates in Germany. Keywords: foreign ownership, firm performance, inward FDI, multinational enterprise. JEL classification: ... [PDF]Policy Challenges - Unctad unctad.org/en/PublicationChapters/wir2016ch4_en.pdf the nationality of investors in and owners of foreign affiliates, is becoming .... shareholdings in foreign affiliates and ultimate ownership or control within MNE ... Affiliate - Investopedia www.investopedia.com/terms/a/affiliate.asp An affiliate is determined by the degree of ownership a parent company ... affiliate is a person or entity directly or indirectly controlling, being controlled ... For banking, affiliate banks are popular for underwriting securities and entering foreign ... [PDF]Former Foreign Affiliates: Cast Out and Outperformed? - American ... https://www.aeaweb.org/conference/2015/retrieve.php?pdfid=235 by B Javorcik - 2014 - Cited by 7 - Related articles Jul 21, 2014 - across treated and control plants within the matched sample. ... affiliates with majority foreign ownership as well as many cases in between.
