This paper reviews the empirical literature on the determinants of the choice by multinational enterprises between entering foreign countries through greenfields or acquisitions. We discuss and compare the main theoretical perspectives used, provide a detailed overview of the empirical findings, examine why these findings have often been inconsistent, and offer theoretical and methodological suggestions to guide future research.

acquisition, establishment mode choice, greenfield, review
Intertemporal Firm Choice and Growth, Investment, or Financing (jel D92), Multinational Firms; International Business (jel F23), Business Administration and Business Economics; Marketing; Accounting (jel M), Corporate Culture; Social Responsibility (jel M14), Production Analysis and Firm Location: General (jel R30)
Erasmus Research Institute of Management
hdl.handle.net/1765/10539
ERIM Report Series Research in Management
ERIM report series research in management Erasmus Research Institute of Management
Erasmus Research Institute of Management

Slangen, A.H.L, & Hennart, J-F. (2007). Greenfield or Acquisition Entry: A Review of the Empirical Foreign Establishment Mode Literature (No. ERS-2007-059-ORG). ERIM report series research in management Erasmus Research Institute of Management. Erasmus Research Institute of Management. Retrieved from http://hdl.handle.net/1765/10539