Abstract: What is the value-added of regional headquarters? In this paper we examine nine large MNCs to shed light on this question. Studying headquarters-subsidiary relations as a mixed motive dyad mirroring principal-agent relations, we explore how regional management structures add value and can moderate agency conflicts within MNCs. Using cross case analysis we show that a regional management structure adds value by reducing complexity, identifying and dispersing knowledge throughout the MNC, granting more attention to subsidiaries, fostering network building, and effectively mediating power struggles in dyadic relations. Hence, our analysis suggests that regional management structures add value to the MNC and moderate agency conflicts, which make them an effective structural answer to managing the integration-responsiveness dilemma.

Abstract: This paper examines the choice of governance mechanisms in the biotechnology industry. We posit that the choice between an institutional and contractual mechanism is influenced by partner concerns regarding appropriation and co-ordination. We hypothesize that the transactional complexity of the alliance reflected in multi-directional technology transfer and the number of participants will increase the likelihood of an institutional mechanism. In addition, we posit that alliances within national boundaries and those located in countries with strong intellectual property regimes reduce the likelihood of an institutional mechanism. Our findings regarding alliances in the biotechnology industry provide strong support for our hypotheses.

Abstract: This paper examines the relocation of division and business area headquarters by companies originating in a small country on the periphery of Europe. Whereas the relocation of sales and production activities – i.e. operative internationalization – has been extensively studied for more than four decades, there is scarcely any research on the decision to move headquarters out of the home-country. We propose that headquarter relocation is influenced by four main sets of factors: (i) companies’ overall internationalization whereby the significance of activities abroad may overtake that of domestic ones, (ii) internationalization of company ownership, i.e. increased equity shares held by foreigners (or even dominant foreign ownership), (iii) the degree of corporate diversification, and (iv) the attractiveness of the home-country relative to other potential locations. We test the propositions on a balanced panel consisting of the 25 largest publicly listed companies in Norway over the years 2000 to 2006.

Abstract: In this study we examine sequence (or an ordered list) of ownership structure change in international joint ventures. We first conduct an exploratory analysis to identify sequence clusters (patterns) of international joint ventures’ ownership change through the “optimal matching technique”, which has been extensively employed in sociology but is novel in the management study. The preliminary analysis identified eight sequence clusters. We then develop theoretical arguments and hypotheses on determinants to the identified sequence patterns. Our arguments are mainly based on organizational learning perspective and institutional perspective. We test our hypotheses with the regression analysis. Our study is expected to make important contributions to the management and international business literatures.