Abstract
Investment by companies in operating units overseas has now become a widespread phenomeon. There is a popular belief that there is a differential propensity to take given shares of equity ownership depending on the nationality of the investing company. It is probable that this belief extends to the further belief that the managers of U.S. enterprises have a greater propensity to take high equity interests (particularly 100% interests) than the managers of investing enterprises in other countries (1). It is the purpose of this paper to examine the theory underlying any such possible situation and to compare some limited empirical findings with previous findings on the subject.
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