Location choice, ownership structure and multinational performance

IF 2.2 4区管理学 Q3 BUSINESS

Multinational Business Review Pub Date : 2018-09-17 DOI:10.1108/MBR-12-2017-0105

Jinlong Gu, Yong Yang, Roger Strange

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引用次数: 11

Abstract

Purpose This paper aims to link location choice and ownership structure to the debate on the multinationality–performance relationship. Design/methodology/approach This paper draws on a panel data set that covers 1,321 emerging economy multinational enterprises (EMNEs) and includes 4,227 observations from 44 emerging economies between 2004 and, 2013. Findings The empirical results find that multinationality has a positive effect on EMNEs’ performance, and that this positive effect is larger for their investments in developed countries than in developing countries. The study also finds that this positive effect of foreign operation in developed countries switch to negative at higher levels of multinationality for privately owned EMNEs than for state-owned EMNEs. Originality/value This paper provides new empirical evidence to support an institutional perspective of the internationalisation of EMNEs that are investing in developed countries, contributing to the multinationality-performance literature, highlighting the importance of foreign direct investment location decision and ownership structure.

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区位选择、股权结构与跨国公司绩效

目的本文旨在将区位选择和所有权结构与跨国绩效关系的争论联系起来。设计/方法论/方法本文利用了一个涵盖1321家新兴经济体跨国企业的面板数据集，包括2004年至2013年间来自44个新兴经济体的4227个观察结果，这种积极影响对他们在发达国家的投资比对发展中国家的投资更大。研究还发现，与国有新兴市场企业相比，私营新兴市场企业在发达国家的跨国经营的这种积极影响在更高的跨国水平上转变为消极影响。原创性/价值本文提供了新的经验证据来支持在发达国家投资的新兴市场企业国际化的制度视角，为跨国绩效文献做出贡献，强调了外国直接投资区位决策和所有权结构的重要性。

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

Multinational Business Review BUSINESS-

CiteScore

5.40

自引率

14.80%

发文量

期刊介绍： Multinational Business Review publishes high quality and innovative peer-review research on the strategy, organization and performance of multinational enterprise (MNE), international business history, geography of international business, and the impact of international business on economic growth and development. The journal encourages papers that are cross-disciplinary in nature, and that address new and important issues in international business. Multinational Business Review also promotes research on under-represented regions such as Africa, Central and Eastern Europe, Latin America, and South East Asia and their MNEs, as well as under-studied topics such as the role of trade, investment and other public policies. Specific topics of interest include innovation and entrepreneurship in an international context; corporate governance and ownership; social, environmental and political risk; the role of multilateral institutions; and the nature of emerging market multinationals. The title seeks strong conceptual studies, contributing to the advancement of theories and frameworks, and sound empirical work, whether qualitative or quantitative, suggesting managerial, economic or government policy recommendations. The journal encourages replication studies that contribute to our understanding of the reliability and validity of current knowledge. Finally, Multinational Business Review welcomes proposals for perspectives pieces that offer critical and challenging viewpoints; surveys of the literature particularly those that use new and innovative bibliometric methods; and special issues on topics of relevance to Multinational Business Review.