Foreign market exit in family firms: Do historical military and cultural frictions matter?

IF 8.9 1区管理学 Q1 BUSINESS

Journal of World Business Pub Date : 2023-11-01 DOI:10.1016/j.jwb.2023.101504

Sihong Wu , Francesco Chirico , Di Fan , Jiayan Ding , Yiyi Su

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引用次数: 0

Abstract

In a fast-changing world, strategic decisions to exit a foreign market become more complex for family firms, owing to their vulnerability to uncertainty in internationalization. However, there is scant research on family firms’ foreign market exit with respect to their responses to contextual influences from home and host countries. This study reconciles the socioemotional wealth (SEW) perspective and the friction lens to address this gap. Using a sample of 1,455 subsidiaries established by 413 Chinese family firms in 2009-2018, we find that historical military friction increases family firms’ foreign market exit, while cultural friction leads to a lower exit propensity. We also find that family management reinforces the friction-exit relationships, and this effect is strengthened when the family firm is controlled by the first generation. Our theory and related findings deepen our understanding of the foreign market exit decision of family firms while offering important theoretical and managerial implications.

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家族企业的海外市场退出:历史上的军事和文化摩擦有影响吗?

在一个快速变化的世界中，家族企业退出国外市场的战略决策变得更加复杂，因为它们容易受到国际化不确定性的影响。然而，关于家族企业在国外市场退出时对母国和东道国背景影响的反应的研究很少。本研究调和了社会情感财富(SEW)的观点和摩擦镜头，以解决这一差距。以2009-2018年413家中国家族企业设立的1455家子公司为样本，我们发现历史军事摩擦增加了家族企业的海外市场退出倾向，而文化摩擦导致家族企业的海外市场退出倾向降低。我们还发现，家族管理强化了摩擦退出关系，当家族企业由第一代控制时，这种效应得到强化。我们的理论和相关发现加深了我们对家族企业国外市场退出决策的理解，同时提供了重要的理论和管理启示。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of World Business BUSINESS-

CiteScore

16.50

自引率

11.20%

发文量

期刊介绍： The Journal of World Business holds a distinguished position as a leading publication within the realm of International Business. Rooted in a legacy dating back to 1965, when it was established as the Columbia Journal of World Business, JWB is committed to disseminating cutting-edge research that reflects significant advancements in the field. The journal actively seeks submissions that propel new theoretical frameworks and innovative perspectives on International Business phenomena. Aligned with its domain statement, submissions are expected to possess a clear multinational, cross-border, or international comparative focus, while remaining pertinent to the study of management and organizations. JWB particularly encourages submissions that challenge established theories or assumptions, presenting pioneering or counterintuitive findings. With an inclusive approach, the journal welcomes contributions from diverse conceptual and theoretical traditions, encompassing allied social sciences and behavioral sciences. Submissions should either develop new theories or rigorously test existing ones, employing a variety of qualitative, quantitative, or other methodological approaches. While JWB primarily caters to scholars and researchers, it values contributions that explore implications for Multinational Enterprises and their management, as well as ramifications for public policy and the broader societal role of business.