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oai:docta.ucm.es:20.500.14352/238042023-08-27T00:35:08Zcom_20.500.14352_14col_20.500.14352_15

00925njm 22002777a 4500 dc Álvarez González, Isabel author Marín Sanz, Raquel author Santos Arteaga, Francisco Javier author 2015-09 This paper illustrates how wholly owned entry modes of multinational companies (MNCs) are jointly determined by both the strategic objectives of the MNC and the local firms’ assets in the creation of value. In particular, the entry mode chosen is based on the potential reciprocal technological spillovers between local firms and MNC subsidiaries. M&As are preferred when host countries exhibit a certain level of development in their local systems of innovation, especially for technologically leading MNCs. Otherwise, for technological laggard MNCs, greenfield investments prevail and M&As may be carried out for meeting demand motives in developing local systems of innovation. 14636786 10.1111/manc.12074 https://hdl.handle.net/20.500.14352/23804 http://dx.doi.org/10.1111/manc.12074 Foreign Direct Investment Entry Modes, Development and Technological Spillovers