2018
DOI: 10.1007/s10490-018-9578-8
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The effects of ownership identity on corporate diversification strategy of Chinese companies in foreign markets

Abstract: In this paper, we examine the impact of acquirer's ownership identity on corporate diversification decisions of Chinese companies in their cross-border acquisitions. Few studies to date have looked at the effect of ownership on corporate decisions to diversify abroad, particularly in the emerging market context. We find that certain characteristics of acquirer's ownership identity such as the government ownership, business group membership and being publicly traded will be negatively linked with industry diver… Show more

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Cited by 9 publications
(4 citation statements)
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“…Such a subnational heterogeneity may be exhibited both temporally and spatially, thus enhancing the richness of the research contextualisation. Despite such heterogeneity, the trade openness reflects local economic development and the policy preference of the local government (Rao-Nicholson and Cai, 2018). This is particularly the case in our research context (China), since internal reform and external openness have been the most important driving forces of market liberalisation (Park et al, 2006).…”
Section: Hypothesesmentioning
confidence: 99%
“…Such a subnational heterogeneity may be exhibited both temporally and spatially, thus enhancing the richness of the research contextualisation. Despite such heterogeneity, the trade openness reflects local economic development and the policy preference of the local government (Rao-Nicholson and Cai, 2018). This is particularly the case in our research context (China), since internal reform and external openness have been the most important driving forces of market liberalisation (Park et al, 2006).…”
Section: Hypothesesmentioning
confidence: 99%
“…However, non-state-owned enterprises hold no more than 50% of its shares, and the investor or controlling shareholder is not the state. There are many great differences between state-owned enterprises and non-state-owned enterprises in incentive mechanism, resource endowment and so on (Rao-Nicholson and Cai, 2020), which may affect the relationship between the heterosexual leadership structure of the chairman and CEO and enterprise innovation investment.…”
Section: Theoretical Analyses and Hypotheses Developmentmentioning
confidence: 99%
“…With the increasing trend of global economic integration and development, the market is increasingly becoming transparent and diversified, which put forward new requirements for companies to corporate strategies (Dess & Davis, 1984;Duncan, 1972), and innovation activities cannot be separated from the environment (Eisenhardt & Martin, 2000). Under the circumstance of a frequently changing external environment, firm's management will be more cautious in making important international decisions and is most likely to stick to its original strategies to avoid entering high-risk areas (Lozza et al, 2018;Raonicholson & Cal, 2018). Besides, the shocks caused by the unpredictability of the environment can increase the variability of the firm's capital surplus, which leads to an increase in the risk of business activities (Das & Teng, 2000;Ghosh & Olsen, 2009).…”
Section: The Moderating Effect Of Environmental Complexitymentioning
confidence: 99%