The Multinational Business Review最新文献

{"title":"Chinese SMEs in Germany: an exploratory study on OFDI motives and the role of China’s institutional environment","authors":"Fabian Hänle, S. Weil, B. Cambré","doi":"10.1108/MBR-09-2020-0190","DOIUrl":"https://doi.org/10.1108/MBR-09-2020-0190","url":null,"abstract":"\u0000Purpose\u0000This paper aims to use the institutional perspective to jointly explore the underlying motives that drive Chinese private small- and medium-sized enterprises (SMEs) to invest in the developed economy of Germany and the role China’s institutional environment is playing in this context.\u0000\u0000\u0000Design/methodology/approach\u0000Given the lack of recent in-depth studies, the authors use multiple case study method to present rich insights from elite interviews with executives belonging to seven Chinese SMEs and industry experts, as well as the study of firm documents, social media and the latest governmental policies.\u0000\u0000\u0000Findings\u0000The results indicate not only market-, resource- and strategic asset-seeking motives, but contrary to the literature, also efficiency-seeking goals. Further driving factors are the integration in global value chains and high degrees of entrepreneurial orientation. The second major finding is that China’s institutional environment induces widely divergent effects. Its ministries established new outward foreign direct investments (OFDI) support measures that are beneficial for some SMEs’ post-entry operations. However, some firms are not aware of any support measures or suffer from discrimination that hinders innovation and from which they try to escape by investing abroad.\u0000\u0000\u0000Originality/value\u0000This paper considers different levels of analysis (firm, entrepreneur, institutional environment) to investigate Chinese SMEs’ motives in Europe’s largest market. By examining why and how these firms use OFDI to a developed economy, the authors address an essential question for China’s economy that is of primary political and academic concern (“How can China get that improved innovation that often seeds entrepreneurial growth?”). In addition, the study contributes to the growing discussion of institutional escapism in emerging markets by revealing five institutional hardships Chinese SMEs are facing and how this relates to their internationalization.\u0000","PeriodicalId":108650,"journal":{"name":"The Multinational Business Review","volume":"46 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-06-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131150600","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The concept of “spatial knowledge” used by top-management-teams and CEOs in internationalization","authors":"K. S. Powell, Eunah Lim","doi":"10.1108/MBR-07-2020-0144","DOIUrl":"https://doi.org/10.1108/MBR-07-2020-0144","url":null,"abstract":"Purpose\u0000Top-management-teams (TMTs) and chief executive officers (CEOs) dealing with internationalization are naturally predisposed to deal with space, so they will consult “spatial knowledge.” The purpose of this paper is to offer a conceptual description of spatial knowledge used by TMTs/CEOs and to describe how the use of spatial knowledge can be triggered and the resulting biases that arise from it. The description of spatial knowledge is also discussed in relation to core international business (IB) theories/models.\u0000\u0000\u0000Design/methodology/approach\u0000This is a conceptual study.\u0000\u0000\u0000Findings\u0000TMTs/CEOs use spatial knowledge for internationalization decisions. This spatial knowledge is “declarative” because it involves knowledge of places and associated characteristics or attributes, “configurational” because it involves knowledge of various types of relative positions and proximities between places and “procedural” because it involves knowledge of how to structure transactions, operate or organize interdependencies between locations. Additionally, TMTs/CEOs individually have spatial knowledge that is uniquely distorted. Then, finally, when TMTs/CEOs consult spatial knowledge to identify international opportunities or solutions, their search process may entail distance and directional biases as a result of their spatial knowledge.\u0000\u0000\u0000Originality/value\u0000This is the first paper to introduce the notion of “spatial knowledge” to the research on TMT/CEO experiences and internationalization and IB research in general.","PeriodicalId":108650,"journal":{"name":"The Multinational Business Review","volume":"95 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-05-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116503028","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Fair trade coffee and inclusive globalization: a metamorphosis of institutional entrepreneurship","authors":"Rong Zhu, S. L. Sun, Ying Huang","doi":"10.1108/MBR-11-2019-0157","DOIUrl":"https://doi.org/10.1108/MBR-11-2019-0157","url":null,"abstract":"\u0000Purpose\u0000Initiated by non-governmental organizations (NGOs) over half a century ago, fair trade has successfully evolved from a regional business discourse to a global social movement within international trade. In the matter of fair trade coffee, this global social movement has transformed the traditional coffee trade structure of inequality and unfairness into a conglomerate of international institutions that embrace equity and inclusivity – a metamorphosis that can be attributed to NGOs’ institutional entrepreneurship.\u0000\u0000\u0000Design/methodology/approach\u0000In this exploratory study, the authors examine the fair trade coffee industry and trace the actions of NGOs along with other stakeholders at the organizational field level, in moving toward an inclusive model of globalization.\u0000\u0000\u0000Findings\u0000Departing from exploitative globalization, fair trade practices advocate inclusive growth through the promotion and establishment of greater equity for all as well as higher environmental standards in global value chains.\u0000\u0000\u0000Research limitations/implications\u0000This study contributes to nascent research on inclusive growth by analyzing how fair trade promotes inclusive growth and trade in GVCs. This study also contributes to research on institutional entrepreneurship by examining two enabling conditions – the shift in institutional logics and the peripheral social position of NGOs – that enabled NGOs to serve as institutional entrepreneurs in the initiation phase of institutional entrepreneurship.\u0000\u0000\u0000Practical implications\u0000Policymakers may encourage collaboration between profit organizations and nonprofit organizations to provide entrepreneurial opportunities for trials, errors, and revisions. The evolution of fair trade coffee provides such an example.\u0000\u0000\u0000Social implications\u0000The coevolution of NGOs and MNEs has made the globalization of fair trade practices possible. The collaboration between NGOs as institutional entrepreneurs (operating on the community logic) and MNEs as institutional followers (operating on the financial logic) support inclusive globalization and sustain fair trade practices.\u0000\u0000\u0000Originality/value\u0000Drawing on the process model of institutional entrepreneurship, the authors seek to understand the role of NGOs as institutional entrepreneurs in the dynamics of initiating, diffusing and sustaining fair trade coffee practices.\u0000","PeriodicalId":108650,"journal":{"name":"The Multinational Business Review","volume":"26 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127488567","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Firm performance in the financial industry: the role of foreign entrants and their origin","authors":"D. Nguyen","doi":"10.1108/MBR-04-2020-0078","DOIUrl":"https://doi.org/10.1108/MBR-04-2020-0078","url":null,"abstract":"\u0000Purpose\u0000This study aims to provide firm-level evidence on the relationship between the presence of financial services multinationals and indigenous counterparts’ performance, using a comprehensive sample of firms in the emerging financial industry in Vietnam.\u0000\u0000\u0000Design/methodology/approach\u0000This study uses the generalized method of moments with instrumental variables (IV/GMM) to deal with potential endogeneity problem. Of this technique, a pragmatic approach to constructing instruments is adopted, capitalizing on the geographical and industry segmentation of the local market. The empirical analyses also address statistical issues of the overall model significance, heteroskedasticity and multicollinearity.\u0000\u0000\u0000Findings\u0000The regression results reveal that foreign entrants have a positive and statistically significant association with indigenous firms’ labor productivity and the average wage, with a more pronounced impact on the latter. The increased entry of financial multinationals appears to be uncorrelated with indigenous firms’ profitability. The extended estimations also suggest that investor origin matters in determining spillover magnitude. The average estimate of Asian affiliates in the examined relationship is approximately half that of European affiliates, whereas foreign entrants originating from America show an insignificant role.\u0000\u0000\u0000Originality/value\u0000This study sheds light on the broader impacts of foreign financial affiliates by simultaneously exploring their impacts on three key dimensions of indigenous firm performance, namely, labor productivity, average wage and profitability. This paper also enriches the existing literature by disentangling the effects of foreign entrants from different regions of origin, which was largely neglected in the context of financial services multinationals.\u0000","PeriodicalId":108650,"journal":{"name":"The Multinational Business Review","volume":"103 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-03-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123167981","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Impact of the liability of foreignness, domicile of incorporation and an institutional change on reverse merger firms’ capital-raising performance","authors":"Howook Shin, S. H. Lee, Min-Jung Lee","doi":"10.1108/MBR-05-2020-0118","DOIUrl":"https://doi.org/10.1108/MBR-05-2020-0118","url":null,"abstract":"\u0000Purpose\u0000The purpose of this study is to examine how the liability of foreignness (LOF), choice of incorporation and an institutional change independently and jointly affect a reverse merger (RM) firm’s capital-raising performance.\u0000\u0000\u0000Design/methodology/approach\u0000The study draws on the data of shell reverse merger transactions in the USA from 2007 to 2016.\u0000\u0000\u0000Findings\u0000This paper finds that LOF and the choice of incorporation as a signal have a significant effect on RM firms’ capital-raising performance. In addition, this study finds that the effectiveness of the signaling can be affected by LOF. Finally, this paper finds that an institutional change that lowers the entry barrier to the initial public offering (which is a superior alternate to an RM) affects the impacts of LOF and signaling on RM firms’ capital-raising performance.\u0000\u0000\u0000Originality/value\u0000The study contributes to the international business literature by examining the RM (which has been an under-researched topic in the literature) by drawing on the LOF framework. The study finds that LOF and the choice of state for incorporation affect RM firms’ capital-raising performance; moreover, these relationships are affected by an institutional change.\u0000","PeriodicalId":108650,"journal":{"name":"The Multinational Business Review","volume":"215 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125698943","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Ways to win: strategic choices, institutions and performance in sub-Saharan Africa","authors":"Y. An, Soonkyoo Choe, Jihoon Kang","doi":"10.1108/MBR-05-2020-0105","DOIUrl":"https://doi.org/10.1108/MBR-05-2020-0105","url":null,"abstract":"Purpose\u0000The purpose of this study is to analyse the effects of market-based and nonmarket-based strategies on firm performance in African countries. This study also investigates host country institutions' effect on the relationship between firm strategies and performance in these countries.\u0000\u0000\u0000Design/methodology/approach\u0000Data of 1,276 firms in five African countries were obtained from two different sources: The World Bank Enterprise Database and The Global Competitiveness Report. Two-stage least squares regression was applied.\u0000\u0000\u0000Findings\u0000Both market-based strategies and corporate political activity (CPA)improve firm performance in the African countries included in the analysis. Institutional development also has a direct positive impact on firm performance. However, the effect of CPA weakens as the host country shifts towards more efficient, market-oriented institutions. Furthermore, the results show that local African firms benefit more from institutional development than foreign firms.\u0000\u0000\u0000Originality/value\u0000The paper confirms and extends our understanding of the dynamic fit between institutions and strategy by highlighting the moderating role of institutional development on CPA and market-based strategies in enhancing firm performance.","PeriodicalId":108650,"journal":{"name":"The Multinational Business Review","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129384433","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Political animosity in cross-border acquisitions: EMNCs’ market and nonmarket strategy in a developed market","authors":"Ru-Shiun Liou, L. Brown, Dinesh Hasija","doi":"10.1108/MBR-02-2020-0034","DOIUrl":"https://doi.org/10.1108/MBR-02-2020-0034","url":null,"abstract":"\u0000Purpose\u0000Many multinational corporations that originate from emerging economies (emerging market multinational corporations (EMNCs)) opt for acquiring a target firm in a developed market to expediently upgrade their strategic capabilities. To successfully achieve their strategic goals in the developed markets, EMNCs may use market actions and nonmarket actions to mitigate the potential risk derived from the national political differences between their home emerging economy and host developed economy. This paper aims to extend the legitimacy-based view of political risk to study the influence of political animosity – defined as misalignment of the host-home countries’ national interests – on the EMNCs’ market and nonmarket strategy in a developed market.\u0000\u0000\u0000Design/methodology/approach\u0000In this paper, we examine all EMNCs that made cross-border acquisitions of the USA targets from 2005 to 2011. The final sample consists of 252 acquisitions originating from 25 emerging markets. This paper used Tobit regression analysis to test the direct and moderating hypotheses.\u0000\u0000\u0000Findings\u0000Facing a high level of political animosity between their home country and the host developed economy, EMNCs use a market strategy by acquiring less ownership stake in the developed market, as well as engage in a nonmarket strategy by increasing lobbying activities. In addition, because of the heightened legitimacy concerns of developed market shareholders, cross-listed EMNCs have a greater tendency than non-cross-listed EMNCs to improve their legitimacy through their market and nonmarket strategy.\u0000\u0000\u0000Originality/value\u0000The current paper sheds light on EMNCs’ international strategy in developed markets by examining both market and nonmarket actions. EMNCs are shown to be strongly motivated to engage in acquisitions in developed markets so they can acquire invaluable strategic resources, such as brands and distribution channels, to compete with the developed market multinationals. A sophisticated ownership strategy and corporate political activities are invaluable for EMNCs to catch up with developed market multinationals.\u0000","PeriodicalId":108650,"journal":{"name":"The Multinational Business Review","volume":"3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-02-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125309959","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Taking advantage of institutional weakness? Political stability and foreign subsidiary survival in primary industries","authors":"Nathaniel C. Lupton, Donya Behnam, Alfredo Jiménez","doi":"10.1108/MBR-02-2020-0043","DOIUrl":"https://doi.org/10.1108/MBR-02-2020-0043","url":null,"abstract":"\u0000Purpose\u0000This paper aims to investigate the extent to which locating primary industry subsidiaries in politically unstable countries impacts their survival. The authors argue that foreign multinational enterprises in less stable political environments can shape policies that are impactful on the costs of operating in primary industries and avoid compliance with more stringent policies at home.\u0000\u0000\u0000Design/methodology/approach\u0000Using a sample of 753 primary sector investments of Japanese multinational enterprises during the period 1986 to 2013, the authors conduct a parametric survival analysis of the relationship between political stability and subsidiary survival.\u0000\u0000\u0000Findings\u0000Political instability has a slight, curvilinear relationship with subsidiary survival, such that both high and low stability are associated with lower exit hazard, while moderate levels of stability increased exit hazard. This nonlinear relationship is stronger for efficiency-seeking subsidiaries, and weaker for market-seeking subsidiaries.\u0000\u0000\u0000Originality/value\u0000This research contributes to the debate around the pros and cons of globalization by examining the extent to which firms benefit by offshoring primary sector investments to avoid more costly legal requirements at home. The results suggest that this non-market strategy should be mitigated through appropriate policy measures and provides evidence that those policies already implemented are effective.\u0000","PeriodicalId":108650,"journal":{"name":"The Multinational Business Review","volume":"13 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-02-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124111536","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Corporate sustainability reporting in Japanese multinational enterprises: a threat to local legitimacy or an opportunity lost for corporate sustainability practices?","authors":"M. Ike, J. Donovan, Cheree Topple, E. Masli","doi":"10.1108/MBR-06-2020-0129","DOIUrl":"https://doi.org/10.1108/MBR-06-2020-0129","url":null,"abstract":"\u0000Purpose\u0000This paper aims to investigate whether Japanese manufacturing multinational enterprises (MNEs) maintain local legitimacy in their host countries through adequate informing of local stakeholders with targeted corporate sustainability (CS) reporting.\u0000\u0000\u0000Design/methodology/approach\u0000The paper first identified specific CS activities that were considered important in four Association of Southeast Asian Nations host countries, through semi-structured interviews with 58 participants of 16 Japanese manufacturing MNEs. The degree of establishment of local legitimacy was then measured through the number of references made to these CS activities and other activities specific to the respective host countries in the CS reports of the MNEs across a five-year period.\u0000\u0000\u0000Findings\u0000The majority of MNEs in the sample were under-reporting items of specific interest to localhost country stakeholders potentially undermining the MNEs’ image. There were found to be differences on the topics published in CS reports compared to those mentioned in the interviews indicating potential issues with regard to internal communication between the subsidiary and headquarters offices.\u0000\u0000\u0000Originality/value\u0000A novel approach is taken to investigate the degree of local legitimacy established by MNEs through comparing the contents of interviews held at subsidiaries with their respective CS reports. This paper highlights the importance of considering MNE subsidiaries when addressing Target 12.6 of the Sustainable Development Goal 12: responsible consumption and production.\u0000","PeriodicalId":108650,"journal":{"name":"The Multinational Business Review","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-01-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129373204","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Human capital, cultural distance and staffing localization","authors":"Naoki Ando","doi":"10.1108/mbr-02-2020-0036","DOIUrl":"https://doi.org/10.1108/mbr-02-2020-0036","url":null,"abstract":"\u0000Purpose\u0000This study aims to explore how a change in the staffing configuration of foreign subsidiaries affects subsidiary performance by focusing on staffing localization.\u0000\u0000\u0000Design/methodology/approach\u0000The relationship between localization and subsidiary performance is analyzed from the perspective of human capital. Hypotheses are tested using a panel data set of foreign direct investment by Japanese multinational enterprises.\u0000\u0000\u0000Findings\u0000The analysis demonstrates that localization has a positive effect on subsidiary performance when subsidiaries can access a pool of competent local managers in the host country. It also shows that when competent local managers are highly available, localization has a positive effect on subsidiary performance under high cultural distance. In comparison, when the availability of competent local managers is limited and cultural distance is high, localization has a negative effect on subsidiary performance.\u0000\u0000\u0000Originality/value\u0000Using human capital theory, this study theorizes how localization, which is a change in the configuration of human capital toward a reliance on local-specific human capital, enhances subsidiary-specific advantages. It introduces the effects of changes in the configuration of human capital over time, into studies on subsidiary staffing. In addition, from a different viewpoint than previous studies, this study proposes one possible path where human capital leads to organizational performance. Specifically, it shows that a change in the configuration of human capital affects subsidiary-specific advantages, which eventually impacts subsidiary performance.\u0000","PeriodicalId":108650,"journal":{"name":"The Multinational Business Review","volume":"114 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-01-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114498359","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}