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Foreign ownership and long‐term survival

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  • Dorte Kronborg
  • Steen Thomsen

Abstract

We study the relative survival of foreign‐ and domestically owned companies in Denmark over more than a century (1895–2005). Contrary to previous studies that have emphasized the liability of foreignness, we find evidence of a significant survival premium for foreign‐owned companies; however, the premium declines over time and disappears entirely in the last decade leading up to 2005. Further evidence indicates that the foreign survival premium is negatively influenced by new foreign entry, and that the long‐run decline is caused by increasing competition between foreign subsidiaries. Copyright © 2008 John Wiley & Sons, Ltd.

Suggested Citation

  • Dorte Kronborg & Steen Thomsen, 2009. "Foreign ownership and long‐term survival," Strategic Management Journal, Wiley Blackwell, vol. 30(2), pages 207-219, February.
    • Handle: RePEc:bla:stratm:v:30:y:2009:i:2:p:207-219
    DOI: 10.1002/smj.732
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    Cited by:

    1. David Pastoriza & Jean-François Plante & Nadjib Lakhlef, 2021. "Are Foreigners at Disadvantage in a Global Labor Market?," Journal of Sports Economics, , vol. 22(6), pages 615-638, August.
    2. Cao, Mingchun & Alon, Ilan, 2021. "Overcoming the liability of foreignness – A new perspective on Chinese MNCs," Journal of Business Research, Elsevier, vol. 128(C), pages 611-626.
    3. Fu, Tong & Leng, Jingsi & Lin, Ming-Tsung & Goodell, John W., 2022. "External investor protection and internal corporate governance: Substitutes or complements for motivating foreign portfolio investment?," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 81(C).
    4. Ryan W. Tang & Ying Zhu & Hongbo Cai & Jinrong Han, 2021. "De-internationalization: A Thematic Review and the Directions Forward," Management International Review, Springer, vol. 61(3), pages 267-312, June.
    5. Robin Henderson & Ralitsa Mihaylova & Paul Oman, 2019. "A dual frailty model for lifetime analysis in maritime transportation," Lifetime Data Analysis: An International Journal Devoted to Statistical Methods and Applications for Time-to-Event Data, Springer, vol. 25(4), pages 739-756, October.
    6. Hu, Chenguang & Li, Jiatao & Yun, Kyung Hwan, 2023. "Re-examining foreign subsidiary survival in a transition economy: Impact of market identity overlap and conflict," Journal of World Business, Elsevier, vol. 58(3).
    7. Campagnolo, Diego & Vincenti, Giampiero, 2022. "Cross-border M&As: The impact of cultural friction and CEO change on the performance of acquired companies," Journal of International Management, Elsevier, vol. 28(4).
    8. Andreas P. Distel & Wolfgang Sofka & Pedro de Faria & Miguel Torres Preto & António Sérgio Ribeiro, 2022. "Dynamic capabilities for hire – How former host-country entrepreneurs as MNC subsidiary managers affect performance," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 53(4), pages 657-688, June.
    9. Sui Sui & Matthias Baum & Shavin Malhotra, 2019. "How Home-Peers Affect the Export Market Exit of Small Firms: Evidence From Canadian Exporters," Entrepreneurship Theory and Practice, , vol. 43(5), pages 1018-1045, September.
    10. Jane W. Lu & Hao Ma & Xuanli Xie, 2022. "Foreignness research in international business: Major streams and future directions," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 53(3), pages 449-480, April.

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