Inhaltszusammenfassung

The separation of ownership and control and the thereby caused agency problem is one of the core topics of management research. Based on a agency theoretical reasoning concerning the link between ownership and industry diversification we study the influences of ownership structure on firms’ geographical (international) diversification. This is particularly interesting since the link between ownership structure and geographical diversification has not been directly investigated before. To test...The separation of ownership and control and the thereby caused agency problem is one of the core topics of management research. Based on a agency theoretical reasoning concerning the link between ownership and industry diversification we study the influences of ownership structure on firms’ geographical (international) diversification. This is particularly interesting since the link between ownership structure and geographical diversification has not been directly investigated before. To test our hypotheses we utilize panel data for the 102 largest German manufacturing firms from 1990 to 2006. Our analysis using the foreign sales to total sales, the cumulated cultural distance and the transnational activities spread index developed by Ietto-Gilles (1998) confirms the agency theoretical predictions about the relationship between ownership structure and geographical diversification.» weiterlesen» einklappen

Autoren

Klassifikation

DFG Fachgebiet:
Wirtschaftswissenschaften

DDC Sachgruppe:
Wirtschaft