Abstracts
Résumé
L’objectif de cet article est de tester la validité du modèle d’Uppsala, dans sa version de 1977 puis dans sa version de 2009. À cette fin, nous étudions la distance géographique et l’effet de réseau comme déterminants des décisions d’acquisitions internationales. Nous testons notre modèle sur 56 963 acquisitions menées par des firmes de pays développés (1990-2009). Conformément à la théorie, les effets de réseau jouent un rôle prépondérant, au détriment de la distance. De surcroît, les effets de réseaux jouent différemment selon que la cible se situe dans un pays développé ou dans un pays en développement.
Mots-clés :
- acquisitions internationales,
- distance géographique,
- effet de réseau,
- modèle d’Uppsala
Abstract
The purpose of the present paper is to test the validity of the Uppsala model, first in its 1977 version and then in the more recent 2009 version. To this end, we study geographical distance and network effect as determinants of international acquisition decisions. We test our model on 56,963 acquisitions conducted by firms from developed countries (1990-2009). In line with the theory, network effects play a predominant role, to the detriment of distance. Moreover, network effects impact differently depending on whether the target is located in a developed or a developing country.
Keywords:
- international acquisitions,
- geographical distance,
- network effect,
- Uppsala model
Resumen
El objetivo de este artículo consiste en demostrar la validez del modelo de Uppsala, en su versión de 1977, y luego en su versión de 2009. Para este fin, estudiamos la distancia geográfica y el efecto de red como determinantes de las decisiones de adquisiciones internacionales. Probamos nuestro modelo en 56.963 adquisiciones dirigidas por firmas de países desarrollados (1990-2009). Conforme a la teoría, los efectos de red desempeñan un papel preponderante, en detrimento de la distancia. Además, los efectos de redes influyen de diferente manera dependiendo de que el objetivo se encuentre en un país desarrollado o en un país en vías de desarrollo.
Palabras clave:
- adquisiciones internacionales,
- distancia geográfica,
- efecto de red,
- modelo de Uppsala
Appendices
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