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1.
Abstract and Key Results
•  This paper draws on organizational learning theory to explain how experience influences the propensity for emerging market firms (using an event history analysis of a sample of Latin American firms during the 1990s) to enter developed markets, and their likelihood of survival.
•  We argue that developed market experience is positively related to emerging market firms’ entry and survival in developed markets; however, cognitive biases affect the roles played by other types of experience in entry decisions.
•  Alliance experience with developed market firms increases the likelihood of entry, but decreases the likelihood of survival. Failure experience in developed markets reduces the likelihood of entry, but increases the likelihood of survival.
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2.
•  Using a sample of 628 cross-border alliances established by emerging economies firms across 25 manufacturing and service industries in 64 host countries in the period 1995-2004, we investigate the effect of institutional factors on the adoption of equity alliance mode.
•  The findings of this study contribute to empirical research in institutional theory, institutional explanations of cross-border alliances and strategic behavior of emerging economies firms.
•  We find support for institutional explanations of the adoption of equity alliance mode by emerging economies firms.
•  We also find that institutional effects are contingent on the alliance location. When emerging economies firms establish alliances in developed host countries, their governance choice is most influenced by the normative pillar, followed by the cognitive pillar, with the regulatory pillar having a negligible effect. When the host countries are emerging economies, the regulatory pillar has the strongest influence followed by the cognitive pillar, with the normative pillar having an insignificant effect.
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3.
•  We explore the role of foreign direct investment and (its relationship to) clusters for the competitiveness (and catching-up) of small(er) developing countries.
•  We suggest that while size per se need not matter, small(er) developing countries need to explicitly account for any liabilities of smallness when devising and implementing strategies for competitiveness and catching-up.
•  We claim that international strategic management scholarship can add insights on this important issue, by complementing extant literature and contributions by international trade and economic development scholarship.
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4.
Abstract and Key Results
•  We explore the differences in international strategy between multinational enterprises (MNEs) in services and manufacturing, especially in terms of their international diversification, as measured by their sales and asset dispersion.
•  Our longitudinal data show that the largest MNEs in services have a much stronger home-region orientation than manufacturing MNEs. Large MNEs in the services sector average 83.9 percent of their sales in their home region, which is significantly higher than large manufacturing firms at 65.6 percent.
•  We explore the possible reasons for the relative lack of globalization of services firms. The two main reasons are: the difficulty of adapting separately upstream activities and downstream activities in high distance host environments, and the difficulty of selecting activity locations as a function of supply side criteria.
•  We offer a refinement of regional strategy theory applicable to services MNEs.
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5.
Abstract and Key Results
•  This study investigates (1) how capability exploitation and capability upgrading are associated with IJVs’ financial and competitive outcomes in an emerging market, and (2) how environmental dynamism (the key construct characterizing an emerging market) and interpartner cooperation (the key construct describing an IJV) moderate the effect of capability exploitation and upgrading on IJV performance.
•  Results suggest that IJVs in a foreign emerging market tend to perform better in both financial and competitive terms when they possess greater abilities to exploit current resources contributed by foreign and local partners and to continuously upgrade and develop new capabilities.
•  The contribution of capability exploitation and upgrading to IJV performance is stronger when IJVs operate in a more dynamic environment. When interpartner cooperation is superior, capability exploitation plays a bigger role in improving performance.
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6.
•  This paper shows that the role of managerial incentives is highlighted by a relatively complex relationship between technological competence and international diversification. By studying a sample of Standard & Poor’s 500 member firms, we explore the relationships between technological competence, managerial pay, and international diversification.
•  Results indicated a curvilinear relationship (an inverted U-shape) between technological competence and international diversification.
•  In line with agency theory, contingent pay (stock options and bonuses) was positively related to international diversification.
•  Beyond these direct effects, both contingent and non-contingent pay (cash compensation) moderated the relationship between technological competence and international diversification.
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7.
•  Analyzing the nature of competitive interaction among multinational firms in the tire industry, we find that the histories of the interactions between particular rivals matter.
•  The decision to enter a new foreign market in the era of global consolidation is related to the identities of rivals in the market, characteristics of the firm and the market, and the extent of past competitive interactions with the international pioneering firm.
•  Results suggest that, in an oligopolistic environment, aspects of multimarket competition are important to foreign direct investment decisions.
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8.
Abstract and Key Results
•  This conceptual paper examines the dynamics of the offshoring of information technology (IT) service work. It considers this important emerging phenomenon from multiple lenses, especially those of international business theories.
•  Research propositions are developed based on the perspectives of home country firms, host nation and the dynamic interactions between the two. Questions for future research are suggested.
•  Already established nations in the field get more opportunities than the new entrants to increase their competitiveness from experience-based knowledge gained as a result of the imitative actions of home country firms.
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9.
•  This paper examines the FDI location strategies of firms from one of the Asian NIEs (Taiwan) in a rapidly emerging market (China). Although there is a substantial literature on FDI location choice, most studies model the choice as a function of a range of location-specific attributes such as local market size, labour costs etc. Few studies consider the impact of firm-specific characteristics, other than potential country-of-origin effects.
•  Yet locations, and especially those in emerging markets where institutions are weak and capital markets are immature, also differ in terms of their risk. Different shareholder constituencies within the parent company will typically have different preferences with regard to risk, and are therefore likely to favour some locations over others.
•  We find that the ownership structure of the parent company matters with regard to its FDI location decision and, in particular, that both family and non-family insider shareholders exert influence over the choice of location.
•  Furthermore we show that firms’ location and entry mode choices are inter-related, and establish that the extent of their resource commitments in their foreign affiliates leads parent companies to favour locations where the perceived risks are lower.
•  Finally we show that the efficacy of firms’ external relational linkages varies according to the strength of the cultural and historic ties between the location of the foreign affiliate and the home country.
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10.
Abstract and Key Results
•  This study provides a comprehensive account of foreign establishment mode strategies of firms investing in Turkey. The results of the logistic regression modeling provide support to the hypothesized relationships that take into account the impact of host country specific motives of MNEs on their choice between acquisitions and greenfield investments.
•  The host country motives quality of inputs and market potential have significant negative coefficients, indicating that an MNE will favor the acquisition mode over a greenfield mode as the relative importance of both motives increases.
•  The host country motive of investment risk has a significant positive coefficient, which increases the likelihood of the venture being a greenfield investment.
•  Our results also show that the main investing firm specific and subsidiary level determinants of FDI modal choice identified in prior research also influence the establishment mode choice of Western MNEs when investing in Turkey. Parent diversity, previous commercial association, ownership pattern and resource-intensiveness of the target industry have the expected impact on the foreign investor’s choice between a greenfield investment and an acquisition.
•  No support is found, however, for the impact of cultural distance and foreign parent size on establishment mode choice. Similarly, the control variables of home region of the investing firm, timing of entry and industrial sector of investment do not affect modal choice.
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11.
•  Forecasting changes in business environments is critical for appropriate responses by policy makers and corporate decision makers. This article reports on a Delphi study which features three rounds of interchanges between experts on possible changes in the international business environment and practice in the next years.
•  Results indicate that terrorism and corruption issues have risen in importance while trade negotiations have declined. Corporate strategies are seen to need significant reform to deliver on the promise of globalization. As trends are becoming more multidimensional, regular solicitation of stakeholder perspectives becomes more important.
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12.
Abstract and Key Results
•  The service sector is becoming increasingly important in the global economy; this is especially true for ‘soft’ services involved in providing information and knowledge-based solutions. It has been suggested that soft service firms are restricted to internationalising through market entry modes requiring substantial resource commitment, such as wholly owned subsidiaries and equity based joint ventures. We argue that this assessment is based on overly simplistic assumptions regarding the characteristics of these information-intensive soft service firms.
•  Focusing on the nature of the value-adding activities and operations of these firms, an information transformation model is proposed to describe the value creation process for information-intensive soft service firms.
•  Using the model to represent different types of internationalisation situations yields 10 lower-involvement approaches available to information-intensive soft service firms seeking to enter foreign markets.
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13.
•  Employing detailed industry-level data, this paper examines the country-of-origin effects of foreign direct investment in China.
•  The analysis demonstrates that there are significant differences in behaviour between investors from non-Chinese Western (NCW) source countries and those from Hong Kong, Macau and Taiwan (HMT).
•  The findings show that NCW investors target local market, while HMT investors are export-oriented. Furthermore, NCW firms are more responsive to local labour quality and technological capability than their HMT counterparts.
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14.
Abstract and Key Results
•  Research on the process of knowledge learning and absorption in acquisition context has emerged recently. Yet relatively less attention has been paid to the process of knowledge transfer and learning and its impact on successful acquisitions.
•  This paper adopts a process perspective’ to investigate this issue. Based on four international acquisitions in China, it generates new theoretical propositions as well as practical managerial implications.
•  Results reveal the types of knowledge acquired and how it is transferred and learnt to contribute to the success of international acquisitions. The knowledge acquisition and learning process in international context involve three stages: knowledge assessment, knowledge sharing and knowledge assimilation.
•  Foreign acquirers tend to acquire complementary knowledge from local targets, adopt dual management structure and facilitate communications with local personnel in order to achieve the success of acquisitions and future operations.
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15.
•  The process of foreign direct investment (FDI) is inherently uncertain as decisions surrounding investments are impacted by fragmented environments which offer contested views as to appropriate actions.
•  We propose a multi-level organizing framework of institutional influences on FDI and examine the differential effect of these forces at two points in time: Prior to a first investment and upon subsequent investments.
•  We posit that upon initial entry, firms are impacted primarily by coercive host country pressures, industry mimeticism, and internal firm norms. We expect these influences to change on subsequent entries with normative forces having the most salience.
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16.
Historic and Emergent Trends in Chinese Outward Direct Investment   总被引：1，自引：0，他引：1  
•  Recent expansion of Chinese outward direct investment is analysed at two levels: at the aggregate level using Chinese Ministry of Commerce data and at the level of the individual FDI project using data compiled by the State Administration of Foreign Exchange.
•  Project level analysis reveals wholly-owned projects are increasingly displacing joint ventures as the predominant mode of entry.
•  Changes to the investment motivations are discernable in market-seeking FDI: with defensive and offensive FDI increasingly supplanting trade-related investment activity, and in strategic asset-seeking FDI: with improved access to foreign-owned technologies, brands, and distribution channels gaining importance.
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17.
•  The role of networks and international commitment in the formation of internationalisation strategies has not yet been explored in international research. The present paper investigates these relationships in a sample of 206 Norwegian exporters.
•  This article suggests that access to networks and commitment play significant roles in the formation of internationalisation strategies. Implications for management and research are discussed.
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18.
Abstract and Key Results
•  With the rise of the global service economy, and understanding of the export competitiveness of nations is critical for managers seeking offshore export locations, and for government policy makers who wish to bolster the attractiveness of their nation as an exporting location. Services globalization — reflected in the growth of outsourcing and offshoring — calls into question the role of human capital investment, whose effect in past studies has been mixed. Drawing on human capital theory, we developed three propositions and analyzed the effect of human capital investment, infrastructure, and the business environment on the export of services and goods from 25 countries from 1989 to 2003.
•  Human capital did have a significant effect on the exports of goods and services. However, contrary to the expectations of human capital theory, human capital was not significantly more important for services exports than for goods exports. In line with expectations of human capital theory, human capital investment had a greater effect in emerging Asia than in developed countries. These findings have important implications for managers and future research.
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19.
•  The paper introduces conceptual developments, empirical evidence and public policy considerations with regard to foreign direct investment and multinational enterprises in and from small countries.
•  Results emphasize the diversity of small country profiles, support the need for reconsideration of established conceptual frameworks and encourage the development of specialized policy making tools.
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20.
•  We analyze the impact of structural reform on firm exports. We argue that structural reform generates new opportunities and reduces transaction costs, inducing firms to improve their efficiency and competitiveness to international levels, therefore, helping them to export. However, we propose that not all companies benefit equally, because firms differ in how structural reform affects their competitiveness. We argue that subsidiaries of foreign firms are the main beneficiaries of structural reform, followed by domestic private firms, and finally by domestic state-owned firms.
•  We test these arguments on a sample of the largest companies in Latin America for the period 1990–2005. We find that structural reform induces firms to export. Furthermore, it has the highest positive impact on the exports of subsidiaries of foreign firms, followed by those of domestic private firms. Surprisingly, we find that structural reform has a negative impact on the exports of domestic state-owned firms.
•  The paper contributes to a better understanding of how changes in institutions affect firm behavior by explaining the mechanisms that link structural reform to firm exports and how these vary across firms. Moreover, by indicating that not only foreign but also domestic private firms benefit from structural reform, it counters the arguments of detractors of globalization who claim that foreign firms are the sole beneficiaries of structural reform. The paper also highlights the need to discuss who benefits from structural reform rather than whether structural reform is beneficial or detrimental.
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