Vis enkel innførsel

dc.contributor.authorRygh, Asmund
dc.contributor.authorBenito, Gabriel R. G.
dc.date.accessioned2018-06-15T10:52:49Z
dc.date.available2018-06-15T10:52:49Z
dc.date.created2017-12-07T13:56:42Z
dc.date.issued2018
dc.identifier.citationMIR: Management International Review: Journal of International Business, 2018, 58(3), 389-411nb_NO
dc.identifier.issn0938-8249
dc.identifier.issn1861-8901
dc.identifier.urihttp://hdl.handle.net/11250/2501756
dc.description.abstractTransaction cost theory (TCT) plays a major role in theorizing about the boundaries of the multinational enterprise (MNE), and is increasingly being applied to intra-MNE governance. We apply TCT to capital structure decisions for MNE subsidiaries. According to TCT, equity and debt are not just financial instruments, but alternative governance structures. Equity is useful for projects involving specific assets that do not serve well as collateral, and for knowledge intensive activities where information asymmetry and public good issues make external financing more costly. We study under what conditions MNE headquarters may wish to partially re-introduce market mechanisms inside the MNE through the use of external or internal debt to finance subsidiaries. This can allow economizing on governance costs and strengthen subsidiary manager incentives, but may be inappropriate if subsidiary assets are MNE-specific or subsidiary-specific. Empirically testable propositions are developed.nb_NO
dc.language.isoengnb_NO
dc.publisherSpringernb_NO
dc.titleCapital Structure of Foreign Direct Investments: A Transaction Cost Analysisnb_NO
dc.title.alternativeCapital Structure of Foreign Direct Investments: A Transaction Cost Analysisnb_NO
dc.typeJournal articlenb_NO
dc.typePeer reviewednb_NO
dc.description.versionacceptedVersionnb_NO
dc.source.journalMIR: Management International Review: Journal of International Businessnb_NO
dc.identifier.doi10.1007/s11575-017-0335-x
dc.identifier.cristin1524294
dc.description.localcode1, Forfatterversjonnb_NO
cristin.unitcode158,8,0,0
cristin.unitnameInstitutt for strategi
cristin.ispublishedtrue
cristin.fulltextpostprint
cristin.qualitycode1


Tilhørende fil(er)

Thumbnail

Denne innførselen finnes i følgende samling(er)

Vis enkel innførsel