This paper examines the distribution of greenfield operations vis-a-vis takeover as mode of entry for Swedish multinational finns between 1965 and 1990. The traditional view that takeovers are less risky than greenfield operations but have a lower expected rate of return, is here replaced by the...

No abstract.

Our findings suggest that the nature and composition of skills exert a major influence on the entry mode for direct investment. Relatively more organizational skill favors takeover, while relatively more technological skill favors greenfield operations. The time variable exerted a positive...