Explaining the effect of rapid internationalization on horizontal foreign divestment in the retail sector: An extended Penrosean perspective
Alex Mohr (),
Georgios Batsakis and
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Alex Mohr: Vienna University of Economics and Business
Georgios Batsakis: ALBA Graduate Business School, The American College of Greece
Zita Stone: University of Kent
Journal of International Business Studies, 2018, vol. 49, issue 7, 779-808
Abstract We adopt a Penrosean perspective to study the effect of rapid international expansion on the subsequent divestment of international operations. We draw on regional strategy theory and differentiate Penrosean managerial resources by their geographical fungibility to argue that the effect of rapid international expansion on the divestment of international operations varies with the regional patterns of firms’ international expansion and international experience. We test our hypotheses using two-stage least squares (2SLS) estimation on data that capture the international expansion and divestment of retailers over the period 2003–2012.
Keywords: foreign divestment; managerial resources; penrose effect; regional strategy theory; internationalization speed; retailers (search for similar items in EconPapers)
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