FOREIGN OWNERSHIP AND LONG-TERM SURVIVAL

• 成果类型: Article
• 署名作者: Kronborg, Dorte; Thomsen, Steen
• 署名单位: Copenhagen Business School; Copenhagen Business School
• 刊物名称: STRATEGIC MANAGEMENT JOURNAL
• ISSN/ISSBN: 0143-2095
• DOI: 10.1002/smj.732
• 发表日期: 2009
• 页码: 207-219
• 关键词: ownership; survival; FOREIGNNESS; subsidiaries

摘要

We study the relative survival of foreign- and domestically owned companies in Denmark over more than a century (1895-2005). Contrary to previous studies that have emphasized the liability of foreignness, we find evidence of a significant survival premium for foreign-owned companies; however, the premium declines over time and disappears entirely in the last decade leading up to 2005. Further evidence indicates that the foreign survival premium is negatively influenced by new foreign entry, and that the long-run decline is caused by increasing competition between foreign subsidiaries. Copyright (C) 2008 John Wiley & Sons, Ltd.