Makino, Shige; Neupert, Kent E. - In: Journal of international business studies : JIBS ; an … 31 (2000) 4, pp. 705-713
Transaction cost theory posits that culture plays a limited role in the choice between JV and WOS. In contrast, research suggests that firms' preferred level of ownership in their foreign subsidiaries is influenced primarily by cultural traits. This study provides additional evidence in this...