Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/104080 
Autor:innen: 
Erscheinungsjahr: 
2001
Schriftenreihe/Nr.: 
Munich Discussion Paper No. 2001-1
Verlag: 
Ludwig-Maximilians-Universität München, Volkswirtschaftliche Fakultät, München
Zusammenfassung: 
This paper studies the entry decision of a multinational enterprise into a foreign market. Two alternative entry modes for a foreign direct investment are considered: Greenfield investment versus acquisition. In contrast to existing approaches, the acquisition price and the profits under both entry modes are endogenously determined. Interestingly, we find that the optimal entry mode decision is a ected by the competition intensity in the market in a non-monotonic way. When markets are very much or very little competitive, greenfield investment is the optimal entry mode, while for intermediate values it is acquisition.
Schlagwörter: 
Foreign direct investment
multinational enterprise
greenfield investment
acquisition
transition economies
JEL: 
D43
F21
F23
L13
P31
Persistent Identifier der Erstveröffentlichung: 
Dokumentart: 
Working Paper

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