Managerial Risk-taking in International Acquisitions in the Brewery Industry: Institutional and Ownership Influences Compared
Geppert, M, Dörrenbächer, C, Gammelgaard, J and Taplin, I (2012) Managerial Risk-taking in International Acquisitions in the Brewery Industry: Institutional and Ownership Influences Compared British Journal of Management.
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This paper deals with the role that institutional differences play in managerial risktaking when firms engage in international acquisitions. It is assumed that multinational corporations (MNCs) have different interests and capabilities when dealing with international acquisition, which in the authors’ view are significantly shaped by specific home country institutional influences. This study concerns the question of how different forms of ownership – concentrated (e.g. family and bank based) and dispersed (stock market based) – influence risk-taking and managerial decision-making in large international acquisitions. Comparing a total of 12 large acquisitions of four leading MNCs in the global brewery industry, the paper shows that mutually reinforcing influences of country of origin (coordinated vs liberal market economies) and ownership (family ownership vs stock market ownership) lead to different risk profiles and managerial risk-taking with regard to international acquisitions.
|Divisions :||Faculty of Arts and Social Sciences > Surrey Business School|
|Identification Number :||10.1111/j.1467-8551.2011.00806.x|
|Additional Information :||© 2012 The Author(s) British Journal of Management © 2012 British Academy of Management. The definitive version is available at www.wileyonlinelibrary.com.|
|Depositing User :||Symplectic Elements|
|Date Deposited :||13 Sep 2012 13:38|
|Last Modified :||26 Nov 2014 14:10|
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