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  1. Ownership mode, cultural distance, and the extent of parent firms strategic control over subsidiaries in the PRC

    Puck, Jonas; Hödl, Markus K.; Filatotchev, Igor; Wolff, Hans-Georg; Bader, Benjamin
    Previous studies often associated a specific type of ownership mode with the extent of control a parent firm may have over (strategic) decision-making in a foreign subsidiary, suggesting that parent firms should have higher control over wholly-owned subsidiaries (WoS) than international joint ventures (IJVs). Building on principal agent theory, we argue that in the Chinese context higher ownership levels do not necessarily have a positive effect on the extent of control over the foreign subsidiary. We further argue that cultural distance between the parent firm and the subsidiary moderates this relationship. We test our hypotheses using data from a sample of 156 foreign subsidiaries in the People's Republic...
    (application/pdf) - 05-nov-2016

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