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| Tekijä: | Brouthers, K.D. Brouthers, L.E. Werner, S. |
| Otsikko: | Real options, international entry mode choice and performance |
| Lehti: | Journal of Management Studies
2008 : JUL, VOL. 45:5, p. 936-960 |
| Asiasana: | finance options transaction costs market entry models companies Greece Netherlands Central Europe Eastern Europe |
| Kieli: | eng |
| Tiivistelmä: | This study develops and tests a model of international entry mode choice. Examining samples of Dutch and Greek firms entering Central and Eastern European markets, it is found that adding real option variables to a transaction cost model significantly improved its explanatory power. Furhermore, firms using the combined real option/transaction cost predicted choices had significantly higher levels of subsidiary performance satisfaction than firms that did not. The results suggest that effective managerial decision-making may involve more than mere transaction cost minimization considerations. |
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