Hennart, Jean-François; Park, Young-Ryeol - In: Management Science 39 (1993) 9, pp. 1054-1070
Multinational firms can enter a foreign market by taking over existing local firms (acquisitions) or by setting up new ventures (greenfield investments). Surprisingly, there has been limited empirical work on this topic. This paper examines the determinants of this choice by looking at Japanese...