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The Effects of Ownership Concentration and Institutional Distance on the Foreign Equity Ownership Strategy of Turkish MNEs

Ilhan-Nas, T and Okan, T and Tatoglu, E and Demirbag, M and Glaister, K (2018) 'The Effects of Ownership Concentration and Institutional Distance on the Foreign Equity Ownership Strategy of Turkish MNEs.' Journal of Business Research. ISSN 0148-2963

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Abstract

We investigate how ownership concentration and institutional distance both directly influence the equity-based ownership strategies of a sample of Turkish MNEs, and also how institutional differences moderate the link between ownership concentration and the equity-based ownership strategies of these firms. The findings suggest that neither ownership concentration nor institutional distance significantly affects the level of equity ownership. Although institutional distance variables have no direct effects on equity ownership, they tend to moderate the relationships between the ownership concentration and foreign equity ownership strategy of Turkish MNEs. In particular, we provide evidence that the regulative and normative dimensions of institutional distance affect the strength of the relationships between equity ownership strategy of MNEs and ownership concentration more so than the cognitive dimension of institutional distance.

Item Type: Article
Uncontrolled Keywords: Equity ownership; Ownership concentration; Institutional distance; Corporate governance; Emerging country; Turkey
Subjects: H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
Divisions: Faculty of Social Sciences > Essex Business School
Depositing User: Elements
Date Deposited: 09 Feb 2018 16:11
Last Modified: 08 Mar 2021 13:16
URI: http://repository.essex.ac.uk/id/eprint/21374

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