Ownership in cross-border acquisitions and the role of government support

被引：68

作者：

Pinto, Claudia Frias ^{[1
]}

Ferreira, Manuel Portugal ^{[2
,3
]}

Falaster, Christian ^{[2
]}

Leme Fleury, Maria Tereza ^{[1
]}

Fleury, Afonso ^{[4
]}

机构：

[1] FGV EAESP Fundacao Getulio Vargas, Adm Empresas, Av 9 Julho,2029 Bela Vista, BR-01313902 Sao Paulo, SP, Brazil

[2] UNINOVE Univ Nove Julho, Programa Posgrad Adm, Av Francisco Matarazzo,612,Predio C-2, BR-05001100 Sao Paulo, SP, Brazil

[3] ESTG Inst Politecn Leiria, P-2411901 Leiria, Portugal

[4] Poli Univ Sao Paulo, Av Luciano Gualberto,Travessa 3,380, BR-00550801 Sao Paulo, SP, Brazil

来源：

JOURNAL OF WORLD BUSINESS | 2017年 / 52卷 / 04期

关键词：

Cross-border acquisition; Ownership; Institutional distance; Government support; Knowledge in CBAs; Multilatinas; TRANSACTION COST INFLUENCES; DEVELOPING-COUNTRY MNES; EMERGING-ECONOMY MNES; JOINT VENTURES; LATIN-AMERICAN; FDI OWNERSHIP; CHINESE FIRMS; STRATEGY; KNOWLEDGE; STATE;

D O I：

10.1016/j.jwb.2016.08.004

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We examine the role of government support on the ownership choices by multilatinas in cross-border acquisitions, both directly and in moderating the relationship between institutional distance and knowledge access. We argue that the pro-market reforms and three mechanisms of government support -financing, stock participation, and political ties-can result in higher levels of ownership negotiated by firms, under conditions of greater institutional distance and knowledge access. Our findings contribute to extend the institution-based view by exploring how the unique institutional characteristics of Latin American countries, and especially different types of government support, influence foreign ownership strategies of multilatinas. (C) 2016 Published by Elsevier Inc.

引用

页码：533 / 545

页数：13

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