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Ownership in cross-border acquisitions and the role of government support
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Orientador(es)
Resumo(s)
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.
Descrição
Palavras-chave
Cross-border acquisition Ownership Institutional distance Government support Knowledge in CBAs Multilatinas
Contexto Educativo
Citação
Editora
Elsevier