IDEAS home Printed from
   My bibliography  Save this article

Tapping the Liabilities' Side — Austrian Evidence for Private Equity Investor Involvement, Growth and The Internationalisation of Firms


  • Jakob Müllner

    () (Vienna University of Economics and Business, Institute for International Business, Althanstraße 51, 1090 Vienna/Austria)


This paper aims to close one of the most persistent gaps in international business (IB) and strategic management (SM) research by advocating a systematic extension of our research perspective to a more finance-based "liabilities' approach". As such, it responds to the recent work of prominent scholars such as Agmon (2006) and Bowe, Filatotchev and Marshall (2010). We challenge the prevailing "finance follows" mindset and – using Private Equity (PE) investors as an illustrative example – we demonstrate how an integrated approach may improve existing theories and open up entirely new avenues of research. We present confirmatory as well as exploratory findings on the impact of investors, suggesting that a company's ownership not only determines a company's financial strength but also has a number of less obvious implications for growth and internationalization. Our findings suggest that investors may be a strategic asset and can serve as catalysts for a company's growth at several levels of involvement.

Suggested Citation

  • Jakob Müllner, 2011. "Tapping the Liabilities' Side — Austrian Evidence for Private Equity Investor Involvement, Growth and The Internationalisation of Firms," Asian Academy of Management Journal of Accounting and Finance (AAMJAF), Penerbit Universiti Sains Malaysia, vol. 7(2), pages 121-136.
  • Handle: RePEc:usm:journl:aamjaf00702_121-136

    Download full text from publisher

    File URL:
    Download Restriction: no


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:usm:journl:aamjaf00702_121-136. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Journal Division, Penerbit Universiti Sains Malaysia). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.