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The influence of generalized and arbitrary institutional inefficiencies on the ownership decision in cross-border acquisitions

2021-06Journal article Restricted access
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dc.contributor.authorFalaster, Christian
dc.contributor.authorFerreira, Manuel Portugal
dc.contributor.authorLi, Dan
dc.date.accessioned2021-08-02T11:20:27Z
dc.date.available2021-08-02T11:20:27Z
dc.date.issued2021-06
dc.description.abstractExtant studies have focused on conceptualizing and measuring the general quality of the institutions and their impact on an array of firms’ strategies. We distinguish two dimensions of institutional inefficiencies in a host country – generalized and arbitrary – and theorize from a knowledge perspective their impact on the acquirers’ ownership decisions in cross-border acquisitions (CBAs). Our empirical examination of 5522 CBAs by firms entering emerging economies reveals that, when exposed to a higher level of host-country generalized institutional inefficiencies, the acquirer tends to take a lower ownership in a CBA. When exposed to higher levels of arbitrary institutional inefficiencies, however, the acquirer tends to take a higher ownership in a CBA. We further find that these relationships are contingent upon the acquirer’s experience in the host region and technological nature.pt_PT
dc.description.versioninfo:eu-repo/semantics/publishedVersionpt_PT
dc.identifier.citationFalaster, C., Ferreira, M.P. & Li, D. The influence of generalized and arbitrary institutional inefficiencies on the ownership decision in cross-border acquisitions. J Int Bus Stud (2021). https://doi.org/10.1057/s41267-021-00434-1pt_PT
dc.identifier.doi10.1057/s41267-021-00434-1pt_PT
dc.identifier.issn0047-2506
dc.identifier.issn1478-6990
dc.identifier.urihttp://hdl.handle.net/10400.8/5986
dc.language.isoengpt_PT
dc.peerreviewedyespt_PT
dc.publisherPalgrave Macmillanpt_PT
dc.relationCAPES – Finance Code 001pt_PT
dc.relationCentre of Applied Research in Management and Economics
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/pt_PT
dc.subjectInstitutionspt_PT
dc.subjectInstitutional inefficiencypt_PT
dc.subjectGeneralized inefficienciespt_PT
dc.subjectArbitrary inefficienciespt_PT
dc.subjectKnowledgept_PT
dc.subjectCross-border acquisitionpt_PT
dc.subjectRegression with Heckman’s two-step correctionspt_PT
dc.titleThe influence of generalized and arbitrary institutional inefficiencies on the ownership decision in cross-border acquisitionspt_PT
dc.typejournal article
dspace.entity.typePublication
oaire.awardTitleCentre of Applied Research in Management and Economics
oaire.awardURIinfo:eu-repo/grantAgreement/FCT/6817 - DCRRNI ID/UIDB%2F04928%2F2020/PT
oaire.citation.titleJournal of International Business Studiespt_PT
oaire.fundingStream6817 - DCRRNI ID
person.familyNameFerreira
person.givenNameManuel
person.identifier.ciencia-id2B1A-16D4-80DA
person.identifier.orcid0000-0002-4642-4605
person.identifier.ridA-2322-2012
person.identifier.scopus-author-id7402787382
project.funder.identifierhttp://doi.org/10.13039/501100001871
project.funder.nameFundação para a Ciência e a Tecnologia
rcaap.rightsclosedAccesspt_PT
rcaap.typearticlept_PT
relation.isAuthorOfPublication69895f61-97d7-47e5-93e3-ede7fb54631c
relation.isAuthorOfPublication.latestForDiscovery69895f61-97d7-47e5-93e3-ede7fb54631c
relation.isProjectOfPublication4c5aa29d-4b03-4713-8f40-08b3bbfd88d7
relation.isProjectOfPublication.latestForDiscovery4c5aa29d-4b03-4713-8f40-08b3bbfd88d7

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