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Geographic Distance as a Moderator of Curvilinear Relationship Between Cultural Distance and Shared Ownership
Authors:Shavin Malhotra
Abstract:This study tests geographic distance as a moderator of the curvilinear relationship between cultural distance and a firm's preference for shared ownership entry mode. The sample consisted of US foreign direct investments in 60 countries spread over 18 years. Results showed that an inverted U‐shaped relationship between cultural distance and preference for shared ownership is stronger for firms separated by high geographic distance. While full equity ownership is most likely when both cultural and geographic distances are either low or high, shared ownership is most likely when the cultural distance is high (low) but the geographic distance is low (high). Copyright © 2012 ASAC. Published by John Wiley & Sons, Ltd.
Keywords:cultural distance  geographic distance  shared ownership  foreign direct investment  mergers and acquisitions  distance culturelle  distance gé  ographique  coproprié      investissements directs é  trangers  fusions et acquisitions
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