Asset specificity and complementarity and MNE ownership strategies: The role of institutional distances |
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Authors: | Yuanyuan Zhang Weiguo Zhong Na Wen Dequan Jiang |
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Institution: | 1. Department of Marketing, City University of Hong Kong, 83 Tat Chee Avenue, Kowloon, Hong Kong;2. Department of Accounting, Economics and Management School, Wuhan University, Luojia Hill, Wuhan, China |
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Abstract: | This study integrates transaction cost economics and institutional theory to propose a contingency model of multinational enterprises' design of ownership control. We posit that asset specificity and complementarity influence the design of ownership control, which is further affected by the institutional environment. Furthermore, we argue that regulatory distance and normative distance display differentiating moderations on the main effects. Regulatory distance strengthens the positive effect of asset specificity on ownership control while normative distance enhances the negative effect of asset complementarity on ownership control. |
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Keywords: | Ownership strategies Asset specificity Asset complementarity Regulatory distance Normative distance |
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