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

Resumo

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. © 2016

Ficha do documento

Tipo

Artigo científico

Ano

2017

Instituição

Elsevier Inc.

Fonte

Repositório da FGV

Idioma

Inglês

Acesso

Acesso restrito

DOI

10.1016/j.jwb.2016.08.004

Identificador

oai:repositorio.fgv.br:10438/25490

Palavras-chave

Cross-border acquisitionGovernment supportInstitutional distanceKnowledge in CBASMultilatinasOwnershipEmpresas multinacionais - BrasilBrasil - Comércio exterior