On the relationship between Japanese manufacturing firms and their domestic subsidiaries

被引:1
|
作者
Rose E.L. [1 ,2 ]
Ito K. [2 ]
机构
[1] School of Marketing and International Business, Victoria University of Wellington, Wellington
[2] College of Business Administration, University of Hawaii at Manoa, Honolulu, HI 96822
关键词
Domestic subsidiary governance; Resource deployment; Spinoffs;
D O I
10.1023/B:APJM.0000048714.97470.4c
中图分类号
学科分类号
摘要
Much past research on ownership policy has dealt with foreign subsidiaries. In this paper, we study the ownership relationship between Japanese firms and their publicly-traded domestic subsidiaries. Using a transaction cost framework, we find that benefiting from high subsidiary profitability is not the sole motivation behind parent firms' decisions regarding equity control of their subsidiaries. Our results indicate that different policies are adopted by Japanese firms with respect to domestic and foreign subsidiaries. © 2004 Kluwer Academic Publishers.
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页码:469 / 490
页数:21
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