Jul 28th, 2:00 PM - 3:00 PM
institutional investors and international expansion in restaurant industry
Although U.S. restaurants have high risk for international expansion, there is no previous study what motivates international diversification. This study has focus on institutional investor ownership to determine internationalization in restaurant industry. According to previous study, pressure-sensitive group (bank and insurance) may have negative relation to international expansion. Pressure-resistant group (pension fund, mutual fund, and brokerage firm) may have positive relation to international expansion.