|Title:||Factors affecting the decision to sell shareholdings in local private firms in the marketing communication industry in China|
|Subject:||Hong Kong Polytechnic University -- Dissertations|
Telecommunication -- China
International business enterprises -- China
Private companies -- China
Corporations -- Investor relations
|Department:||Graduate School of Business|
|Pages:||vii, 139 leaves : ill. ; 30 cm|
|Abstract:||This study examines the factors that influence a private local marketing communication company to sell their share to multinational marketing communication groups in the same industry. An analysis of in depth interview data from 28 private local marketing communication companies in the People's Republic of China suggests that the willingness of the owners of such companies to sell their share was affected by the environmental uncertainties of PRC. Of particular importance were the factors of a disorderly market, vicious price competition, under-the-table arrangements, restricted access to finance and the business norms of prepayment on behalf of clients and pitching for every project from clients. In addition, the factors of the uncertainty of the behaviour of the acquirers, the perceived resources endowment of the acquirers and the perceived importance of retaining competitive advantages all affect the willingness of owners to sell shares at different levels of equity. The results can shed some light for multinational marketing communication firms in planning to extend their business in China. Based on the qualitative analysis, a modified framework with all the antecedent variables was developed and the instrument was formulated for further quantitative analysis.|
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