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firm size, extensive international experience and large market size lead to the choice of acquisition mode of entry, while …
Persistent link: https://www.econbiz.de/10014788890
This paper examines the link between a firm's owership of productive assets and its choice of foreign-market entry strategy. We find that, controlling for industry- and country-specific characteristics, the most productive firms (i.e., those owning the most assets) will enter through greenfield...
Persistent link: https://www.econbiz.de/10010296254
also indirectly since it determines the outside option of potential acquisition targets and joint venture partners. In … profitability of greenfield investment both reduces the acquisition price in the case of M&A, and gives local firms an incentive to …
Persistent link: https://www.econbiz.de/10010296283
the case of FDI, the firm faces two options: greenfield investment or merger and acquisition (M&A). If it selects …
Persistent link: https://www.econbiz.de/10010296298
greenfield; the middle matches operate under joint ownership; and the best matches integrate via full acquisition. We link the …
Persistent link: https://www.econbiz.de/10010343351
This study shows that when there is multinational competition for foreign acquisition, the strategic use of a consumer … welfare argument in regulating foreign market entry leads to a preemptive foreign acquisition. Even under fierce competition …, foreign acquisition will emerge as part of a non-cooperative equilibrium (although multinationals would have gained more had …
Persistent link: https://www.econbiz.de/10011985170
We propose a model of firm expansion and contraction choices which integrates approaches from the industrial organization and corporate finance literature within one unified setting. Firms respond to shocks to their marginal costs by expanding or contracting output via internal or external...
Persistent link: https://www.econbiz.de/10010270097
This paper extends the literature on the determinants of international activity at the fi rm level towards cross-border acquisitions and greenfield investments as different modes of FDI using a rich dataset of British firms. While multinational firms are characterized by higher productivity...
Persistent link: https://www.econbiz.de/10010274446