Internationalization Of Management Buyouts

Mike Wright, Andy Lockett, Paul Westhead and Hans Bruining

ERIM Report Series Research in Management from Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam

Abstract: Multivariate statistical analysis is utilized to explore the association between firm strategies, contributions made by venture capitalists and incentives for owners and employees and three exporting variables in a stratified random sample of 147 management buyouts and buyins. Firms focusing upon a diversified product/ service range and/or advertising were significantly more likely to be exporters. Firms focusing upon product/ service quality and financial efficiency and those with high proportions of employees receiving performance related pay were significantly less likely to be exporters. Manufacturing firms and firms focusing upon a diversified product/ service range and/or advertising were significantly more likely to report high percentages of sales exported. Variations in the proportion of sales exported over time were associated with strategies focused upon product/service quality and a diversified product/ service range.

Keywords: buy-outs; economic performance; internationalization; strategy; venture capital (search for similar items in EconPapers)
JEL-codes: D21 L2 M M10 (search for similar items in EconPapers)
Date: 2002-07-02
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Persistent link: https://EconPapers.repec.org/RePEc:ems:eureri:211

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