Foreign ownership and the pursuit of global technological arbitrage opportunities

Foreign ownership and the pursuit of global technological arbitrage opportunities

Bibliographic Details
Parent link:European Journal of International Management
Vol. XX, iss. X.— 2021.— [20 p.]
Corporate Authors: Национальный исследовательский Томский политехнический университет Школа инженерного предпринимательства, Национальный исследовательский Томский политехнический университет Школа базовой инженерной подготовки Отделение математики и информатики
Other Authors: Anokhin S. A. Sergey Aleksandrovich, Spitsin V. V. Vladislav Vladimirovich, Trifonov A. Yu. Andrey Yurievich, Antonova I. S. Irina Sergeevna
Summary:Title screen
In industries characterised by low intraindustry arbitrage opportunities, firms may extract entrepreneurial rents and ensure profitability by sourcing technological arbitrage opportunities across national borders. Foreign owners provide access to such opportunities. In the setting of 1073 Russian companies operating in the industrial machinery manufacturing industry over the course of 2013-2016, we present initial evidence suggesting that partial foreign ownership may avail international arbitrage opportunities to the firms, resulting in superior performance. The effect of arbitrage opportunities on firm performance is strongest when firms have high financial liquidity. The optimal share of foreign investor control that maximises firm performance is estimated between 39% and 51%.
Language:English
Published: 2021
Subjects:
электронный ресурс
труды учёных ТПУ
foreign ownership
arbitrage opportunities
performance
panel data
собственность
арбитраж
панельные данные
Online Access:https://dx.doi.org/10.1504/EJIM.2021.10034196
Format: Electronic Book Chapter
KOHA link:https://koha.lib.tpu.ru/cgi-bin/koha/opac-detail.pl?biblionumber=665107

Internet

https://dx.doi.org/10.1504/EJIM.2021.10034196

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