The influence of ownership structure on internationalization
| Autor: | Jan Hendrik Fisch, Michael-Jörg Oesterle, Hannah Noriko Richta |
|---|---|
| Rok vydání: | 2013 |
| Předmět: |
Marketing
Structure (mathematical logic) Principal–agent problem Diversification (marketing strategy) 502014 Innovation research language.human_language German Politics Internationalization Bargaining power Market economy 502052 Betriebswirtschaftslehre Economics language 502003 Foreign trade Business and International Management 502052 Business administration 502003 Außenhandel 502014 Innovationsforschung Finance Industrial organization Panel data |
| Zdroj: | International Business Review. 22:187-201 |
| ISSN: | 0969-5931 |
| DOI: | 10.1016/j.ibusrev.2012.03.007 |
| Popis: | Common reasons mentioned for a firm's internationalization are related to advantages for the firm. However, if firms are conceptualized as political coalitions, this view does not seem to be sufficient to explain why and to what extent firms internationalize. A principal-agent theoretical approach focusing the ownership-stake-related motivations and bargaining power of owners plus the range of actions managers can employ in different ownership situations offers an alternative explanation. We consequently studied the influences of ownership structure – defined as the concentration of ownership – on a firm's degree of internationalization and the main regions of international diversification. Overall, we conclude that the relationship is non-linear. To test our hypotheses, we utilize panel data for the 102 largest German manufacturing firms from 1990 to 2006. The analysis confirms our assumptions. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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