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| Tekijä: | Hennart, J. Park, Y. |
| Otsikko: | Greenfield vs. acquisition: the strategy of Japanese investors in the United States |
| Lehti: | Management Science
1993 : SEP, VOL. 39:9, p. 1054-1070 |
| Asiasana: | JAPAN USA FOREIGN INVESTMENT TRANSACTION COSTS |
| Kieli: | eng |
| Tiivistelmä: | This paper tests simultaneously a number of competing hypotheses. The results suggest that acquisitions are used by Japanese investors with weak competitive advantages while investors with strong advantages find that greenfield investments are a more efficient way to transfer these advantages to the US. Acquisitions are also chosen to enter industries with either very low or very high growth rates, when entry is at a scale that is large relative to the parent, and when entry is into a different industry. |
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