Ownership in cross-border acquisitions and entry timing of the target firm
Fuentelsaz, Lucio (Universidad de Zaragoza) ; Garrido, Elisabet (Universidad de Zaragoza) ; González, Minerva (Universidad de Zaragoza)
Resumen: We examine how the entry timing of targets influences the initial and the post-entry percentage of ownership acquired by multinationals. We argue that targets that have entered earlier into the market launch signals of lower uncertainty in contexts where first-mover advantages exist. As a consequence, multinationals are willing to buy higher levels of ownership in these early entrant targets and to increase their participation in the subsidiary equity in the post-entry stage. Finding support for these relationships, we study how market age and innovative behaviour of the target reduce the importance of leading time as determinant of the ownership decision.
Idioma: Inglés
DOI: 10.1016/j.jwb.2019.101046
Año: 2020
Publicado en: JOURNAL OF WORLD BUSINESS 55, 2 (2020), 101046 1-18
ISSN: 1090-9516
Factor impacto JCR: 8.513 (2020)
Categ. JCR: BUSINESS rank: 23 / 153 = 0.15 (2020) - Q1 - T1
Factor impacto SCIMAGO: 3.607 - Business and International Management (Q1) - Marketing (Q1) - Finance (Q1)
Financiación: info:eu-repo/grantAgreement/ES/DGA-FSE/S54-17R
Financiación: info:eu-repo/grantAgreement/ES/MINECO-FEDER/ECO2017-85451-R
Financiación: info:eu-repo/grantAgreement/ES/UZ/JIUZ-2017-SOC-08
Tipo y forma: Article (PostPrint)
Área (Departamento): Área Organización de Empresas (Dpto. Direcc.Organiza.Empresas)
You must give appropriate credit, provide a link to the license, and indicate if changes were made. You may do so in any reasonable manner, but not in any way that suggests the licensor endorses you or your use. You may not use the material for commercial purposes. If you remix, transform, or build upon the material, you may not distribute the modified material.
Exportado de SIDERAL (2021-09-02-08:42:13)
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Idioma: Inglés
DOI: 10.1016/j.jwb.2019.101046
Año: 2020
Publicado en: JOURNAL OF WORLD BUSINESS 55, 2 (2020), 101046 1-18
ISSN: 1090-9516
Factor impacto JCR: 8.513 (2020)
Categ. JCR: BUSINESS rank: 23 / 153 = 0.15 (2020) - Q1 - T1
Factor impacto SCIMAGO: 3.607 - Business and International Management (Q1) - Marketing (Q1) - Finance (Q1)
Financiación: info:eu-repo/grantAgreement/ES/DGA-FSE/S54-17R
Financiación: info:eu-repo/grantAgreement/ES/MINECO-FEDER/ECO2017-85451-R
Financiación: info:eu-repo/grantAgreement/ES/UZ/JIUZ-2017-SOC-08
Tipo y forma: Article (PostPrint)
Área (Departamento): Área Organización de Empresas (Dpto. Direcc.Organiza.Empresas)
You must give appropriate credit, provide a link to the license, and indicate if changes were made. You may do so in any reasonable manner, but not in any way that suggests the licensor endorses you or your use. You may not use the material for commercial purposes. If you remix, transform, or build upon the material, you may not distribute the modified material. Exportado de SIDERAL (2021-09-02-08:42:13)
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Record created 2021-05-25, last modified 2021-09-02