transforming multinational corporations’ (MNCs’) focus from transaction cost to transaction value in the context of MNC subsidiary … ownership and survival. We used a sample of 10,236 overseas subsidiaries established by 1,291 Japanese MNCs in 29 host countries … geographic distance, on ownership levels. Third, we found that there were positive interactions between LTO and subsidiary …

legitimacy in determining subsidiary ownership and expatriate staffing levels. Based on organizational ecology theory (OET), our … effect between subsidiary size and FDI legitimacy on both subsidiary ownership and expatriate staffing levels. With …