Accepted.BJM.2021.pdf (460.26 kB)
The impact of institutions on collaborative innovations and the role of equity-based entry modes
journal contribution
posted on 2023-06-09, 23:40 authored by Vania Sena, Marianna MarraMarianna Marra, Mehmet Demirbag, Giuseppe Lubrano LavaderaThis paper examines the impact of institutional variables on multinational enterprises’ choice between majority and minority acquisitions in their foreign affiliates and how this choice influences their propensity to collaborate with local firms. Using the institutional theory and the transaction costs theory, we develop a number of hypotheses. In particular, we suggest that majority acquisitions will be more likely than minority acquisitions and greenfields to enter collaborative R&D projects in countries that belong to the Civil Law/Eastern European legal tradition, or countries where the protection of minority shareholders is poor. These hypotheses are tested using an unbalanced panel of subsidiaries controlled by British multinationals, located in 39 countries. The results confirm our theoretical predictions.
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- Published
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- Accepted version
Journal
British Journal of ManagementISSN
1045-3172Publisher
WileyExternal DOI
Department affiliated with
- Strategy and Marketing Publications
Full text available
- Yes
Peer reviewed?
- Yes
Legacy Posted Date
2021-04-21First Open Access (FOA) Date
2023-05-26First Compliant Deposit (FCD) Date
2021-04-20Usage metrics
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