The impact of formal and informal institutional distances on the strategic asset seeking motives of Chinese multinational enterprises: An analysis of patent and trademark acquisitions
Hongshu Wang , Xinwei Shi , Wenwei Chen , Zeyu Chen , Zhijie Wang
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引用次数: 0
Abstract
This study was to examine the influence of specific contributory variables within formal versus informal institutional distances on the sub-motives of emerging-market multinational enterprises’ (EMNEs) strategic-asset seeking (SAS), in order to gain insights into the behaviours and motivations of increasing outward foreign direct investment (OFDI) from emerging economies like China. From a multinomial logistic regression analysis of both firm and macro-level data, it was found that private business groups (PBGs) were more likely to target and acquire firms with patents and trademarks. The findings also suggest that the informal cultural distance was significantly associated solely with the EMNEs’ motive for seeking companies with trademarks but no patents. The association between formal institutional distance with EMNEs’ SAS behaviours was not significant. The findings also revealed that certain sub-dimensions of formal and informal cross-national distance had significant effects on overseas specific SAS behaviours. These findings inform further exploration of determinants of EMNEs’ SAS behaviours and provide a more comprehensive understanding of EMNEs’ internationalization trends. This research contributes to the current literature on EMNEs and provides practical and managerial implications for EMNE decision-makers while investing abroad.
本研究旨在考察正式与非正式制度距离内的特定促成变量对新兴市场跨国企业寻求战略资产的次级动机的影响,从而深入了解中国等新兴经济体增加对外直接投资的行为和动机。通过对企业和宏观层面数据的多项式逻辑回归分析发现,私营企业集团(PBGs)更有可能瞄准并收购拥有专利和商标的企业。研究结果还表明,非正式文化距离与新兴市场企业寻找有商标但无专利企业的动机有显著关联。正式制度距离与外国直接投资企业的 SAS 行为之间的关系并不显著。研究结果还显示,正式和非正式跨国距离的某些子维度对海外特定的SAS行为有显著影响。这些发现为进一步探索新兴市场企业海外特殊服务行为的决定因素提供了信息,并为更全面地了解新兴市场企业的国际化趋势提供了参考。这项研究为当前有关新兴市场企业的文献做出了贡献,并为新兴市场企业在海外投资的决策者提供了实践和管理方面的启示。
期刊介绍:
The International Business Review (IBR) stands as a premier international journal within the realm of international business and proudly serves as the official publication of the European International Business Academy (EIBA). This esteemed journal publishes original and insightful papers addressing the theory and practice of international business, encompassing a broad spectrum of topics such as firms' internationalization strategies, cross-border management of operations, and comparative studies of business environments across different countries. In essence, IBR is dedicated to disseminating research that informs the international operations of firms, whether they are SMEs or large MNEs, and guides the actions of policymakers in both home and host countries. The journal warmly welcomes conceptual papers, empirical studies, and review articles, fostering contributions from various disciplines including strategy, finance, management, marketing, economics, HRM, and organizational studies. IBR embraces methodological diversity, with equal openness to papers utilizing quantitative, qualitative, or mixed-method approaches.