IP protection and ownership in cross-border acquisitions

被引：5

作者：

Bazel-Shoham, Ofra ^{[1
]}

Lee, Sang Mook ^{[2
]}

Ahammad, Mohammad Faisal ^{[3
]}

Tarba, Shlomo Y. ^{[4
]}

Alon, Ilan ^{[5
,6
]}

机构：

[1] Temple Univ, Fox Sch Business, Philadelphia, PA USA

[2] Penn State Univ Great Valley, Penn State Great Valley Sch Grad Profess Studies, Malvern, PA USA

[3] Leeds Univ Business Sch, CIBUL, Leeds, England

[4] Univ Birmingham, Birmingham Business Sch, Birmingham, England

[5] Univ Ariel, Dept Econ & Business Adm, IL-40700 Ariel, Israel

[6] Univ Agder, Kristiansand, Norway

来源：

INTERNATIONAL BUSINESS REVIEW | 2023年 / 32卷 / 03期

关键词：

IP protection; Institutional theory; M & Technological intensity; INTELLECTUAL PROPERTY-RIGHTS; INSTITUTIONAL DISTANCE; ENTRY MODE; KNOWLEDGE ACQUISITION; PATENT PROTECTION; TRANSACTION COSTS; DIRECT-INVESTMENT; FOREIGN ENTRY; DETERMINANTS; CHOICE;

D O I：

10.1016/j.ibusrev.2023.102101

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We use the institutional theory to examine the impact of intellectual property protection on US multinational corporations (MNCs) ownership levels of their foreign acquisitions. Based on a sample of 7238 completed in-ternational M&A deals made by US MNCs from 1998 to 2017, we found that multinationals protect their in-tellectual property through more ownership when they are technologically intensive and invest more when IP protection is strong. However, IP protection negatively moderates the need for more ownership for technologically-intensive multinational corporations. Our results are robust to a battery of empirical tests, including a unique instrumental variable approach. This leads us to claim that our results are not merely correlated but are causal.

引用

页数：18

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