Greenfield versus acquisition : the drivers for entry and expansion modes of German : based multinational enterprises in Portugal
Autor(a) principal: | |
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Data de Publicação: | 2014 |
Tipo de documento: | Dissertação |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10400.14/17379 |
Resumo: | This paper examines the determinants for entry and expansion modes of German multinational enterprises in Portugal. Using a sample of Greenfield and acquisition transactions from 1996 until 2013, we investigate the impact of previously proven parent-level and industry-level drivers that derive from Transaction Cost/Internationalization Theory, Information Economics and Industrial Organization Perspective, and further factors that may have had an influence on the decision to invest in Portugal. We find evidence that the parent’s size, its R&D intensity, the previous experience by another German firm, the target industry's growth and Portugal's membership in the Eurozone increase the probability of a Greenfield investment rather than an acquisition. In turn, the likelihood of an acquisition increases when the parent is publicly traded and productivity in the target industry grows. Our findings confirm that traditional theories can be applied to the particular combination of home and host country. Furthermore, specific policy recommendations can be given based on the results in order to promote German foreign direct investments in Portugal. |
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Greenfield versus acquisition : the drivers for entry and expansion modes of German : based multinational enterprises in PortugalInternational ExpansionGreenfieldAcquisitionPortugalDomínio/Área Científica::Ciências Sociais::Economia e GestãoThis paper examines the determinants for entry and expansion modes of German multinational enterprises in Portugal. Using a sample of Greenfield and acquisition transactions from 1996 until 2013, we investigate the impact of previously proven parent-level and industry-level drivers that derive from Transaction Cost/Internationalization Theory, Information Economics and Industrial Organization Perspective, and further factors that may have had an influence on the decision to invest in Portugal. We find evidence that the parent’s size, its R&D intensity, the previous experience by another German firm, the target industry's growth and Portugal's membership in the Eurozone increase the probability of a Greenfield investment rather than an acquisition. In turn, the likelihood of an acquisition increases when the parent is publicly traded and productivity in the target industry grows. Our findings confirm that traditional theories can be applied to the particular combination of home and host country. Furthermore, specific policy recommendations can be given based on the results in order to promote German foreign direct investments in Portugal.Reis, RicardoVeritati - Repositório Institucional da Universidade Católica PortuguesaLanger, Tim Philipp2015-04-29T10:55:34Z2014-09-1920142014-09-19T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10400.14/17379TID:201181720enginfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-11-14T01:35:45Zoai:repositorio.ucp.pt:10400.14/17379Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T18:14:36.756326Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Greenfield versus acquisition : the drivers for entry and expansion modes of German : based multinational enterprises in Portugal |
title |
Greenfield versus acquisition : the drivers for entry and expansion modes of German : based multinational enterprises in Portugal |
spellingShingle |
Greenfield versus acquisition : the drivers for entry and expansion modes of German : based multinational enterprises in Portugal Langer, Tim Philipp International Expansion Greenfield Acquisition Portugal Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
title_short |
Greenfield versus acquisition : the drivers for entry and expansion modes of German : based multinational enterprises in Portugal |
title_full |
Greenfield versus acquisition : the drivers for entry and expansion modes of German : based multinational enterprises in Portugal |
title_fullStr |
Greenfield versus acquisition : the drivers for entry and expansion modes of German : based multinational enterprises in Portugal |
title_full_unstemmed |
Greenfield versus acquisition : the drivers for entry and expansion modes of German : based multinational enterprises in Portugal |
title_sort |
Greenfield versus acquisition : the drivers for entry and expansion modes of German : based multinational enterprises in Portugal |
author |
Langer, Tim Philipp |
author_facet |
Langer, Tim Philipp |
author_role |
author |
dc.contributor.none.fl_str_mv |
Reis, Ricardo Veritati - Repositório Institucional da Universidade Católica Portuguesa |
dc.contributor.author.fl_str_mv |
Langer, Tim Philipp |
dc.subject.por.fl_str_mv |
International Expansion Greenfield Acquisition Portugal Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
topic |
International Expansion Greenfield Acquisition Portugal Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
description |
This paper examines the determinants for entry and expansion modes of German multinational enterprises in Portugal. Using a sample of Greenfield and acquisition transactions from 1996 until 2013, we investigate the impact of previously proven parent-level and industry-level drivers that derive from Transaction Cost/Internationalization Theory, Information Economics and Industrial Organization Perspective, and further factors that may have had an influence on the decision to invest in Portugal. We find evidence that the parent’s size, its R&D intensity, the previous experience by another German firm, the target industry's growth and Portugal's membership in the Eurozone increase the probability of a Greenfield investment rather than an acquisition. In turn, the likelihood of an acquisition increases when the parent is publicly traded and productivity in the target industry grows. Our findings confirm that traditional theories can be applied to the particular combination of home and host country. Furthermore, specific policy recommendations can be given based on the results in order to promote German foreign direct investments in Portugal. |
publishDate |
2014 |
dc.date.none.fl_str_mv |
2014-09-19 2014 2014-09-19T00:00:00Z 2015-04-29T10:55:34Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/masterThesis |
format |
masterThesis |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10400.14/17379 TID:201181720 |
url |
http://hdl.handle.net/10400.14/17379 |
identifier_str_mv |
TID:201181720 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
instname_str |
Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
instacron_str |
RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
collection |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository.name.fl_str_mv |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
repository.mail.fl_str_mv |
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1799131824873537536 |