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The effect of local corruption on ownership strategy in cross-border mergers and acquisitions

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  • Di Guardo, Maria Chiara
  • Marrocu, Emanuela
  • Paci, Raffaele

Abstract

This paper focuses on how corruption affects an important internationalization behavior of firms: the extent of control – wholly owned subsidiary or equity participation – exercised by firms involved in cross-border mergers and acquisitions.

Suggested Citation

  • Di Guardo, Maria Chiara & Marrocu, Emanuela & Paci, Raffaele, 2016. "The effect of local corruption on ownership strategy in cross-border mergers and acquisitions," Journal of Business Research, Elsevier, vol. 69(10), pages 4225-4241.
    • Handle: RePEc:eee:jbrese:v:69:y:2016:i:10:p:4225-4241
    DOI: 10.1016/j.jbusres.2016.03.002
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    More about this item

    Keywords

    Mergers and acquisitions; Corruption; Ownership strategy; Industry relatedness;
    All these keywords.

    JEL classification:

    • C31 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models; Quantile Regressions; Social Interaction Models
    • D73 - Microeconomics - - Analysis of Collective Decision-Making - - - Bureaucracy; Administrative Processes in Public Organizations; Corruption
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance

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