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1.
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2.
Abstract and Key Results
•  This study discusses the underlying reasons for the variant nature of the relationship between multinationality and firm performance in the context of service firms.
•  To date, this line of research has mostly used evidence from manufacturing firms, despite the ever-increasing contribution of service firms to national and global economies.
•  We conduct an exploratory study using case analyses of large European retail banks. We argue that the nature of the multinationality-performance relationship for services is moderated by industry characteristics, market-based factors and firm-specific factors.
•  We conclude that the shape of the curve depicting the multinationality-performance relationship of retail banks experiences substantial variations on a single case level.
•  Our exploratory study of retail banks shows that the multinationality-performance relationship varies significantly depending on banks’ strategic decisions regarding branch network configurations, product portfolios, branding strategies, organizational architecture (HQ-subsidiary relationship), and social networks. Any generalization of the relationship is difficult and prone to error.
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3.
•  The processes of globalisation open up new potentials for MNE participation in the development of small economies. Thus the pursuit of global competitiveness by MNEs, operating through a range of strategic motivations, can be supported by different types of affiliates that can be based on the potentials of small economies.
•  Efficiency seeking operations of MNEs can benefit from cost-effective inputs of small economies (as, for example, in export processing zones) and activate their export potentials.
•  Knowledge seeking by MNEs can be generated interdependently with the creation of localised systems of innovation that support bases of sustainable development in small economies.
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4.
Abstract and Key Results
•  MNEs are moving away from a ‘centralised hub’ to a ‘multi-hub’ network of R&D units. Using evidence from European pharmaceutical MNEs, this study analyses the challenges associated with promoting and integrating knowledge flows in multi-hub R&D organisational structures.
•  While these new structures provide greater potential for cross-fertilization of technologies and access to location-specific competences, firms also need to overcome greater levels of inter-unit geographical, organisational and technological distance. Firms also suffer from organisational inertia, which further hinders lateral communication and inter-unit knowledge transfer.
•  There are important variations in the way in which integrated network structures have been implemented, but in general, these new structures have increased the need for coordination mechanisms, but ironically most companies have reduced or eliminated this ‘traditional’ headquarters function.
•  While socialization mechanisms help to overcome some of these bottlenecks, there remain a number of obstacles in optimising knowledge flows in physically and technologically dispersed R&D facilities.
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5.
•  In this study, we examine the impact of cumulative experience that arise from a series of sequential entries on the performance of foreign subsidiaries of multinational firms. Drawing upon the literature on organizational learning, we propose that multinational firms acquire different types of experience at the firm level, including general entry experience, entry specific experience, and exporting experience, which exert different influences on their performance. We also investigate the effect of experience on performance at the subsidiary level.
•  Using a dataset of 245 subsidiaries of 81 large U.S. firms in China, we find that firms’ entry specific experience, exporting experience, and subsidiary level experience exhibit significant effects on the return on sales of foreign subsidiaries.
•  Further, the effect of exporting experience gets weaker as firms accumulate more entry specific experience. Firms’ general entry experience, however, is not related to subsidiary performance.
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6.
•  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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7.
•  We examined perceptions differentiating key Colombian decisionmakers in 168 SMEs who decided to either internationalize or remain domestic. An integrative model compares managerial perceptions of competitive, macro-environmental and neo-institutional factors.
•  Foreign MNEs in the home market significantly differentiated decisions to internationalize, as well as the presence of internationalizing domestic competitors, anticipated product acceptance, and internationalizing suppliers.
•  The lack of findings for some institutional and macro-environmental factors may reflect important contextual features of the Colombian business environment.
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8.
•  This paper examines the conditions under which corporate social responsibility (CSR) is related to value creation in the multinational enterprise (MNE).
•  Following prior work by Burke and Logsdon (1996), we examine the relationship of centrality, appropriability, proactivity, visibility, and voluntarism to value creation.
•  The results of a survey of 111 MNEs in Mexico suggest that centrality, visibility, and voluntarism are related to value creation.
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9.
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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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.
•  We pursue the previously-noted association between brands and counterfeiting one step further to examine the relationship between brand positioning and anti-counterfeiting, based on a study of 130 well-known foreign brands in China.
•  We test hypotheses about managerial perceptions as to the effects of different brand positioning strategies on the effectiveness of their actions to counter counterfeiting, in other words, whether branding positioning can help to stop counterfeiting, limit damage to firms and maintain brand reputation.
•  Our findings confirm that brand positioning affects anti-counterfeiting effectiveness. Specifically, product reliability and customer services are compatible with efforts to stop counterfeit production, but innovative technologies and product features and functions appear to exacerbate the problem.
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12.
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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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.
•  This paper discusses international market and operation strategies of service MNEs from small and open economies (SMOPECs). The focus in the analysis will be on the special challenges that these type of companies face in their internationalisation process.
•  A conceptual framework and propositions are developed based on earlier research of internationalisation of manufacturing companies and companies in different service sectors. A multicase study of four service MNEs, which are telecommunications operators (telcos), is used to illustrate and test the propositions.
•  International processes of the case companies deviate in many areas from those suggested by traditional theories, especially their market strategies. Several industry specific characteristics played an important part in this, as they further enhanced many challenges common to internationalising companies from smaller countries.
This study is a part of a larger on-going research project (Laanti, 2008, forthcoming), which analyses internationalisation strategies of SMOPEC telcos. The research project is funded and supported by The Foundation for Economic Education, The Finnish Cultural Foundation, HPY’s Research Foundation and the International Telecommunication Union. The authors want to also acknowledge the key interviewees of each case company for their valuable support for the project.
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15.
Abstract and Key Results
•  This study examines the performance impacts of entry mode choice based on the perceptions of managers of a large sample of foreign MNEs in South Korea. Using an extended transaction costs model, an evaluation of performance relative to predicted entry mode is carried out.
•  We find that affiliate performance is a multidimensional and complex phenomenon, which may be properly explained by multiple factors, including the coordination and control of the affiliate by the MNE, that go beyond initial entry mode choices.
•  Foreign MNEs following the entry mode predicted by the extended transaction costs model showed poorer performance than non-followers in respect of non-financial performance. However, no significant differences were found for financial performance. The findings appear to reinforce a recent call to re-examine transaction costs theory and lend further support for incorporating additional potentially important determinants of affiliate performance.
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16.
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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17.
•  This paper examines the impact of corporate governance and institutional environments on the export behaviour of firms in emerging economies. We argue that the role of corporate governance should be analysed from both principal- agent and principal-principal perspectives. We hypothesise that institutional environments moderate the effects of corporate governance on export behaviour.
•  Analysis of a sample of Chinese listed firms supports our argument that outside directors and CEO shareholding help firms make export decisions, while the effects of ownership concentration may be non-monotonic.
•  Sample firms’ export propensity is higher the better the institutional environments of their locations. This positive effect of institutional environments comes both directly and from the moderating of the effects of corporate governance.
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18.
•  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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19.
Abstract and Key Results
•  This paper addresses production function and technical efficiency in the context of multinational enterprises (MNEs). It applies the stochastic frontier production function technique (SFPF) to investigating a sample of U.S. manufacturing MNEs and finds that an MNE normally encounters two phases of “liability of internationalization” in the course of international expansion. In addition, it shows that the firms with intensive investment in R&D and advertising development tend to alleviate or even avoid the “liability of internationalization” and enjoy a prolonged period of effective international expansion.
•  The relationship between multinationality and meta production frontier (as well as technical efficiency) exhibits an upward horizontal S-curved relationship.
•  R&D and advertising intensity (RDAI) positively affects the relationship between multinationality and meta production frontier (as well as technical efficiency). In the case of very high RDAI, the S-curve transforms itself into an upward monotonous curve.
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20.
Entrepreneurship in multinational enterprises: A Penrosean perspective   总被引：2，自引：1，他引：1  
–  This paper applies Penrose’s (1959) insights on the quantity of managerial services required for firm-level organic expansion to the analysis of entrepreneurial activities in MNEs.
–  We use these insights to build a framework relevant to entrepreneurial activities in MNEs, and then apply this framework to assess the metanational model (Doz/Santos/Williamson 2001) in terms of the quantity of managerial services required to implement it.
–  Penrose’s (1959) insights on firm-level growth processes are still relevant to the analysis of entrepreneurial activities in MNEs.
–  The quantity of managerial services required for the effective functioning of the metanational model appears to be particularly high, and the benefits of this model should therefore be carefully weighed against the potential costs.
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