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dc.contributor.authorStähler, Franken_US
dc.contributor.authorRyan, Michaelen_US
dc.contributor.authorRaff, Horsten_US
dc.date.accessioned2009-01-29T14:13:38Z-
dc.date.available2009-01-29T14:13:38Z-
dc.date.issued2007en_US
dc.identifier.urihttp://hdl.handle.net/10419/22034-
dc.description.abstractThis paper studies why multinational firms often share ownership of a foreign affiliate with a local partner even in the absence of government restrictions on ownership. We show that shared ownership may arise, if (i) the partner owns assets that are potentially important for the investment project, and (ii) the value of these assets is private information. In this context shared ownership acts as a screening device. Our model predicts that the multinational?s ownership share is increasing in its productivity, with the most productive multinationals choosing not to rely on a foreign partner at all. This prediction is shown to be consistent with data on the ownership choices of Japanese multinationals.en_US
dc.language.isoengen_US
dc.publisheren_US
dc.relation.ispartofseriesEconomics working paper / Christian-Albrechts-Universität Kiel, Department of Economics 2007,18en_US
dc.subject.jelL20en_US
dc.subject.jelF23en_US
dc.subject.ddc330en_US
dc.subject.keywordForeign direct investmenten_US
dc.subject.keywordownershipen_US
dc.subject.keywordjoint ventureen_US
dc.subject.keywordproductivityen_US
dc.subject.stwMultinationales Unternehmenen_US
dc.subject.stwDirektinvestitionen_US
dc.subject.stwJoint Ventureen_US
dc.subject.stwAsymmetrische Informationen_US
dc.subject.stwProduktivitäten_US
dc.subject.stwEigentümerstrukturen_US
dc.subject.stwSchätzungen_US
dc.subject.stwTheorieen_US
dc.subject.stwJapanen_US
dc.titleWhole versus Shared Ownership of Foreign Affiliatesen_US
dc.typeWorking Paperen_US
dc.identifier.ppn537840990en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:cauewp:5684-
Appears in Collections:Economics Working Papers, Department of Economics, CAU Kiel

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