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Foreign and multinational ownership impact on firm exit: A sectoral analysis

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  • Pedro Silva
  • António Carrizo Moreira

Abstract

This article examines the impact of foreign and multinational ownership on firm exit using a sample of Portuguese firms for the period 2007–2016, with Kaplan–Meier survival functions and a Cox proportional hazard model. The results show that purely domestic firms endure worse survival prospects than multinationals, but this is more related to firm‐level variables and not because of the effects of foreignness or multinational ownership. The disaggregated results at a sectoral level provide support for the contingent role of foreignness in very specific sectors of the Portuguese economy.

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  • Pedro Silva & António Carrizo Moreira, 2021. "Foreign and multinational ownership impact on firm exit: A sectoral analysis," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 42(6), pages 1550-1563, September.
    • Handle: RePEc:wly:mgtdec:v:42:y:2021:i:6:p:1550-1563
    DOI: 10.1002/mde.3326
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    2. Yueyang Zhao & Jinzhou Mao, 2023. "Mixed ownership reforms and the transparency of nonstate‐owned enterprises: Evidence from China," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 44(1), pages 271-284, January.

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