haku: @freeterm Duration analysis / yhteensä: 1
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| Tekijä: | McCloughan, P. Stone, I. |
| Otsikko: | Life duration of foreign multinational subsidiaries: Evidence from UK northern manufacturing industry 1970-93 |
| Lehti: | International Journal of Industrial Organization
1998 : NOV, VOL. 16:6, p. 719-747 |
| Asiasana: | Performance appraisal Industries Multinational companies Subsidiary companies Models United Kingdom |
| Vapaa asiasana: | Duration analysis MNE Post-entry performance |
| Kieli: | eng |
| Tiivistelmä: | In the paper, duration analysis is employed to examine the survival of 252 foreign manufacturing plants in the UK Northern region during 1970-1993. Contrary to expectations, the hazard function is approximately inverse quadratic rather than monotonic decreasing. Greenfield entrants face a lower risk of failure than acquisition entrants, particularly early in life. Acquisitions of older plants exhibit stronger survival than acquisitions of recently established plants, so that the age of (indigenous) acquired plant at the point of foreign takeover appears to matter to the survival of acquisition entrants. Plant size and industrial concentration also emerge as important. Home country of parent firm and location within region are unimportant. Consistent with the inverse U-shaped hazard function, the lognormal regression model provides a reasonably satisfactory fit to the data, certainly tighter than the Weibull model. |
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