Internalization and internationalization under competing real options / Jan Hendrik Fisch.
Tipo de material: TextoSeries Discussion paper (Deutsche Bundesbank). Series 1: economic studies ; ; no. 15/2006Detalles de publicación: Frankfurt am Main : Deutsche Bundesbank, 2006Descripción: 35 pISBN:- 3865581536
- 21 332.673
Tipo de ítem | Biblioteca actual | Signatura | Estado | Fecha de vencimiento | Código de barras |
---|---|---|---|---|---|
Documento | Biblioteca Manuel Belgrano | F 332.673 F 20932 (Navegar estantería(Abre debajo)) | Disponible | 20932 F |
Bibliografía: p. 20-25.
The theories of internalization and internationalization provide general factors of international market entry but are not precise about its timing. The theory of real options may complement these approaches as it centers the impact of uncertainty on the timing and dimensioning of investment. A panel study of 5379 German entries to 22 countries suggests that, under the moderating influence of competition, the economic uncertainty in a host country has a U-shaped influence on the moment of entry. The results further reveal that uncertainty has a negative effect on the amount of capital at entry. Uncertainty shows no impact on the share in capital at entry, which challenges the view of international joint ventures as real options.
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