Global Ownership Strategy of Japanese Multinational Enterprises: A Test of Internalization Theory

摘要

1. This study examines determinants of the global ownership strategy of 444 Japanese manufacturing firms as of 1999, in a test of internalization theory. 2. The test results showed the efficiency of internalization determinants, such as R&D intensity, international experience, cultural distance and political risk, thus explaining the global ownership strategy of Japanese multinational enterprises (JMNEs) without the support of control variables.