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Firm’s intangible assets and multinational activity: full versus shared ownership

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  • Valeria Gattai

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Abstract

This paper analyses the choice of full versus shared ownership of the production affiliate made by Italian multinationals in Asia, based on an entirely new firm-level dataset, constructed by the author. The decision to internalise production, rather than relying on a local partner, is driven by the threat of Dissipation of Intangible Assets, both at a theoretical and an empirical level. In particular, we show that full ownership is more likely to emerge in Asia for Italian firms endowed with better technology and human capital, or belonging to high tech sectors.

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File URL: http://dipeco.economia.unimib.it/repec/pdf/mibwpaper154.pdf
File Function: First version, 2009
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Bibliographic Info

Paper provided by University of Milano-Bicocca, Department of Economics in its series Working Papers with number 154.

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Length: 45 pages
Date of creation: Feb 2009
Date of revision: Feb 2009
Handle: RePEc:mib:wpaper:154

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Keywords: Intangible Assets; ownership; wholly-owned subsidiary; joint-venture; Asia;

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