What Drives Overseas Acquisitions by Indian Firms? A Behavioral Risk-Taking Perspective

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dc.contributor.authorChittoor, Raveendra
dc.contributor.authorAulakh, Preet S.
dc.contributor.authorRay, Sougata
dc.date.accessioned2023-04-30T14:33:14Z
dc.date.available2023-04-30T14:33:14Z
dc.date.copyright2015en_US
dc.date.issued2015
dc.description.abstractOverseas acquisitions as a mode of international expansion entail a high level of risk, especially for firms from emerging economies which face considerable liabilities of foreignness and newness in international markets. Building on the behavioral risk-taking perspective, we examine the role of ownership characteristics on the propensity of Indian firms to make foreign acquisitions. Empirical results from a sample of BSE 500 Indian firms during the 2002-2011 period show that after controlling for firm level resources and capabilities identified in the prior literature, international experience of firm CEOs, promoter shareholding, and ownership share of foreign institutional investors positively influence firms’ acquisition propensities in foreign markets. Furthermore, our results show that the effects of these determinants on overseas acquisitions are stronger for stand-alone independent firms than for those affiliated to business groups.en_US
dc.description.reviewstatusRevieweden_US
dc.description.scholarlevelFacultyen_US
dc.description.sponsorshipSocial Sciences and Humanities Research Council of Canada (Grant Number: 435-2012-1219)en_US
dc.identifier.citationChittoor, R., Aulakh, P.S. & Ray, S. (2015). What Drives Overseas Acquisitions by Indian Firms? A Behavioral Risk-Taking Perspective, Management International Review, 55(2), 255-275. https://doi.org/10.1007/s11575-015-0238-7.en_US
dc.identifier.urihttps://doi.org/10.1007/s11575-015-0238-7
dc.identifier.urihttp://hdl.handle.net/1828/15078
dc.language.isoenen_US
dc.publisherManagement International Reviewen_US
dc.subjectinternational acquisitionsen_US
dc.subjectrisk-takingen_US
dc.subjectrisk-taking propensityen_US
dc.subjectbusiness groupsen_US
dc.subjectownershipen_US
dc.subjectIndiaen_US
dc.subjectemerging economy multinationalsen_US
dc.subjectemerging economyen_US
dc.subject.departmentPeter B. Gustavson School of Business
dc.titleWhat Drives Overseas Acquisitions by Indian Firms? A Behavioral Risk-Taking Perspectiveen_US
dc.typePostprinten_US

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