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Internationalization, related party transactions, and firm ownership structure: Empirical evidence from an emerging market

Arpita Agnihotri and Saurabh Bhattacharya

Research in International Business and Finance, 2019, vol. 48, issue C, 340-352

Abstract: This study seeks to understand the adverse impact of related party transactions (RPTs) on the internationalization of emerging economy firms. The study further explores how a firm’s ownership structure moderates the relationship between RPT and internationalization. Based on a sample of 367 Indian manufacturing firms, the study finds that RPTs have a negative influence on internationalization. Business group ownership is found to strengthen the negative relationship between RPTs and internationalization, whereas foreign shareholding weakens this relationship.

Keywords: Emerging market; Related party transaction; Internationalization; Ownership structure (search for similar items in EconPapers)
Date: 2019
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DOI: 10.1016/j.ribaf.2019.02.004

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