Foreign ownership and long‐term survival
研究丹麦1895-2005年间外资与内资企业的生存率差异，发现外资企业有生存优势，但该优势随时间下降，至2005年前消失，原因在于外资子公司间竞争加剧。
Abstract We study the relative survival of foreign‐ and domestically owned companies in Denmark over more than a century (1895–2005). Contrary to previous studies that have emphasized the liability of foreignness, we find evidence of a significant survival premium for foreign‐owned companies; however, the premium declines over time and disappears entirely in the last decade leading up to 2005. Further evidence indicates that the foreign survival premium is negatively influenced by new foreign entry, and that the long‐run decline is caused by increasing competition between foreign subsidiaries. Copyright © 2008 John Wiley & Sons, Ltd.