期刊
JOURNAL OF INTERNATIONAL BUSINESS STUDIES
卷 41, 期 3, 页码 437-450出版社
PALGRAVE MACMILLAN LTD
DOI: 10.1057/jibs.2009.52
关键词
institutions; ownership/control structures; family firms; foreign investors; outward FDI; emerging-market MNEs
资金
- Economic and Social Research Council [ES/F028865/1] Funding Source: researchfish
- ESRC [ES/F028865/1] Funding Source: UKRI
This paper examines the impact of ownership structures of emerging-market firms, which are shaped by local institutions, on the decision of these firms to undertake outward FDI. Our results suggest that family firms and firms with concentrated ownerships (both ubiquitous in emerging markets) are less likely to invest overseas, and that strategic equity holding by foreign investors facilitates outward FDI. We conclude that organisational forms such as family firms, which are optimal outcomes of institutions prevailing in emerging markets, may be suboptimal in a changing business environment in which outward FDI is necessary for access to resources and markets. Journal of International Business Studies (2010) 41, 437-450. doi:10.1057/jibs.2009.52
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