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Foreign divestments: a review and research agenda

Author

Listed:
  • H. Kent Baker
  • Deepak Kumar
  • Neelam Rani
Abstract
Purpose - Foreign divestment of subsidiaries is a growing research field. The global increase in investments has led to more divestments. However, much about the processes and circumstances leading to foreign divestments (FDs) requires further investigation. This study aims to review and consolidate the existing literature on foreign divestment and identify avenues for future research. Design/methodology/approach - This study performs a systematic literature review and bibliometric analysis of studies on FDs to highlight the traditional and emerging perspectives in the field. This work examines foreign divestment theories based on operations, human resources, finance and marketing business functions. Findings - This study sets forth a basic foreign divestment framework and highlights potential research areas. Future studies should expand to emerging economies, explore complex relationships, distinguish foreign divestment types and identify the limits of various theories and perspectives. Originality/value - This study discusses traditional theories such as economies of scale, portfolio adjustment, reverse eclectic, real options and transaction cost economies. This study also examines emerging perspectives: attention-based, behavioral, committedness, contingency, favoritism, flexibility, hysteresis, legitimation, network and resource-based views. This study uses traditional and emerging theories to explain foreign divestment decisions in different business functions.

Suggested Citation

  • H. Kent Baker & Deepak Kumar & Neelam Rani, 2022. "Foreign divestments: a review and research agenda," Qualitative Research in Financial Markets, Emerald Group Publishing Limited, vol. 15(2), pages 336-360, November.
    • Handle: RePEc:eme:qrfmpp:qrfm-12-2021-0206
    DOI: 10.1108/QRFM-12-2021-0206
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