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| Tekijä: | Ertuna, B. Yamak, S. |
| Otsikko: | Foreign equity configurations in an emerging country: implications for performance |
| Lehti: | European Management Journal
2011 : APR, VOL. 29:2 p. 117-128 |
| Asiasana: | emerging markets transaction costs foreign investment Turkey |
| Vapaa asiasana: | FDI |
| Kieli: | eng |
| Tiivistelmä: | This article compares and contrasts the control characteristics and performance implications of different levels of foreign equity in an emerging country. It is suggested that foreign investors' evaluation of behavioral and contextual uncertainties in the host environment mold these configurations. Data consists of 164 firm-year findings in 1999-2002 at the Istanbul Stock Exchange. The shared equity configuration is found to show superiour performance, answering both to the efficiency concerns of transaction cost theory and the legitimacy focus of institutional theory. |
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