search query: @indexterm INTERNATIONAL BUSINESS / total: 844
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| Author: | Kouvelis, P. Axarloglou, K. Sinha, V. |
| Title: | Exchange Rates and the Choice of Ownership Structure of Production Facilities |
| Journal: | Management Science
2001 : AUG, VOL. 47:8, p. 1063-1080 |
| Index terms: | PRODUCTION INTERNATIONAL BUSINESS JOINT BUSINESS VENTURES |
| Language: | eng |
| Abstract: | The aim of this research is to study the effects of real exchange rates on the long-term ownership strategies of production facilities of firms entering foreign markets. Among the strategies considered are exporting (EXP), joint ventures with local partners (JV), and wholly owned production facilities (WOS) in the foreign country. The authors' research takes a first step in modeling the influence of exchange rates on the choice and dynamic adjustment of such strategies. The insights obtained from the authors' modeling analysis are then translated into testable hypotheses and empirically verified with the use of firm level data from U.S. multinational corporations (both at the firm and a more aggregate level). |
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