The Multinational Business Review最新文献

{"title":"International rivalry and global business leadership: an historical perspective","authors":"M. Casson","doi":"10.1108/mbr-06-2020-0128","DOIUrl":"https://doi.org/10.1108/mbr-06-2020-0128","url":null,"abstract":"This paper aims to introduce economic history as a new stream of international business (IB) research. It offers a long-term perspective on how the IB has evolved over time, focussing on the interplay between multinational enterprise and the nation state.,The paper uses existing scholarly literature on international economic history to develop eight key propositions regarding the interface between the politics and economics of foreign direct investment (FDI).,There is a rivalry between nation states and competition between firms. These two forms of conflict interact. Nations use their leading firms as instruments of international policy while leading firms rely on political and financial support from home nations. Using historical evidence and cross-country comparisons, the paper explains has the scale and scope in IB activity have changed dramatically over time.,There is scope for more detailed historical studies on national policies towards inward and outward FDI.,It is important to see the recent international economic policies of China in a long-run historical perspective and to appreciate the similarities between its policies and those of other countries in the past.,Many of the potential economic gains generated by FDI may be lost through an excessive commitment of resources to the pursuit of military power as a foundation for international political power.,This paper challenges IB researchers to widen their horizons.","PeriodicalId":108650,"journal":{"name":"The Multinational Business Review","volume":"55 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-07-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124508772","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":"FDI inflows and intellectual property rights for MNEs in emerging markets: an alternative approach through the lens of trademarks in Vietnam (1986-2016)","authors":"A. L. Nguyen","doi":"10.1108/mbr-10-2019-0140","DOIUrl":"https://doi.org/10.1108/mbr-10-2019-0140","url":null,"abstract":"While the current anti-globalisation wave is considered as a regional and cyclical relapse among Western countries, the new era of globalisation has shifted away from stagnant developed economies towards the rising prosperity of emerging Asia, where it is attracting substantial global inward foreign direct investment (FDI). Focussing on Vietnam, the country that is seen as Asia’s next economic tiger, the question of how important intellectual properties (IP) protection is in the international competition for FDI inflows is still unsettled, especially on the under-researched topic of trademarks.,This paper takes on the business history approach, which allows rich evidence from the dynamic and evolving natures of multinational enterprises (MNEs) to drive the research process, so that international business scholars can test models rigorously. The evidence provided in this paper is essentially qualitative and combines trademark registrations data, with trade and FDI statistics between 1986 and 2016, also draws on companies’ archives, industry reports and related newspaper articles.,This paper provides the chronology of intellectual property right (IPR) legal landscapes and the dynamic co-evolution of trademarks and FDI inflows in Vietnam. Three trademark protection strategies for MNEs and their patterns here are addressed. The paper also argues that trademarks bring new insights and IP protection strategy for pharmaceutical MNEs for the case of Vietnam is as important in trademarks as it is in patents. In emerging markets with strong incentives for FDI such as Vietnam, MNEs are not necessarily put off by weak IPR, but rather create alternative strategies for dealing with the lack of IP protection in these emerging market settings.,This study challenges the stream of thoughts that view trademarks as a “neglected intangible asset” among different IPRs, while in fact, trademarks advance MNEs’ knowledge by ensuring competitiveness and long-run survival in emerging markets. This paper is among the first few attempts to look at pharmaceutical industry through the lens of trademarks, moving away from the traditional patent-focussed approach. It extends the understanding of OLI paradigm and highlights that MNEs need to possess Oa and Op advantages not only at the beginning of internationalisation process but rather evolving through the time to cope with imitation risks in the host country.","PeriodicalId":108650,"journal":{"name":"The Multinational Business Review","volume":"29 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-07-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122058099","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":"Uncertainty avoidance culture, cash holdings and financial crisis","authors":"Quoc Trung Tran","doi":"10.1108/mbr-09-2019-0117","DOIUrl":"https://doi.org/10.1108/mbr-09-2019-0117","url":null,"abstract":"This paper aims to investigate how the global financial crisis affects the relationship between uncertainty avoidance culture and corporate cash holdings.,This study develops a research model in which cash holdings ratio is a function of post-crisis period dummy, Hofstede’s cultural dimension of uncertainty avoidance, their interactive term and control variables. The research sample includes 188,264 observations from 26,509 firms incorporated in 44 countries between 2003 and 2016.,This study finds that the effect of uncertainty avoidance culture on firm cash holdings is stronger in the post-crisis period from 2008 to 2016. This effect is stronger for financially constrained firms. In addition, the research findings show that uncertainty avoidance culture is more effective in cash–cash flow sensitivity over the post-crisis period.,Prior studies show that uncertainty avoidance culture positively affects corporate cash reserves. However, the authors only examine the effect of uncertainty avoidance culture on cash holdings in a static environment. This paper investigates this effect under the impact of the global financial crisis – an exogenous shock.","PeriodicalId":108650,"journal":{"name":"The Multinational Business Review","volume":"140 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-06-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132439952","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":"Does context really matter? The influence of deficient legal services on the intensity of political ties in the regulatory and legal arenas","authors":"George O. White, Thomas A. Hemphill, Tazeeb S. Rajwani, J. Boddewyn","doi":"10.1108/mbr-05-2019-0046","DOIUrl":"https://doi.org/10.1108/mbr-05-2019-0046","url":null,"abstract":"The purpose of this study is to apply the institution-based view and resource dependence theory in arguing that perceived deficiencies in a legal service sector where a foreign subsidiary operates will influence the intensity of its political ties with actors in both the regulatory and legal arenas. The authors further theorized that these relationships will vary across governance environments.,The research context for this study was multinational enterprises (MNE) wholly owned foreign subsidiaries and international joint ventures (IJVs) operating in the Philippines and Thailand. Data for most variables in this study came from primary survey data collected in 2018 from senior managers of MNE WOSs and IJVs operating in the Philippines and Thailand.,The authors’ analysis of 352 foreign subsidiaries operating in the Philippines and Thailand show that, in a flawed democracy, perceived deficient legal services enhance the intensity of foreign subsidiary political ties with government actors in both the regulatory and legal arena. However, in a hybrid regime, perceived deficient legal services enhance only the intensity of foreign subsidiary political ties with government actors in the regulatory arena. The authors’ findings also suggest that the relationship between perceived deficiencies in legal service sector and the intensity of political ties is stronger for foreign subsidiaries that operate in heavily regulated industries across both a flawed democracy and hybrid regime. Conversely, the authors do not find the market orientation of these foreign subsidiaries to play a role in this process.,The authors’ study was unable to control for whether managerial perceptions of deficient legal services were well informed at the local or federal level. This issue raises the question of will the presence of an in-house legal department influence managerial perceptions with regard to deficiencies within a legal service sector? Based on these limitations, the authors suggest that future research can further extend political ties research by using a fine-grained analysis in investigating the antecedents of managerial perceptions of legal services within different legal jurisdictions.,The political ties literature has largely argued that political ties are more prevalent in environmental contexts comprising institutional voids as MNEs attempt to mitigate volatility associated with the lack of developed institutional infrastructure (e.g. Blumentritt & Nigh, 2002; Bucheli et al., 2018). However, the concept of institutional voids is very broad and still rather abstract in nature. Hence, scholars have yet to fully understand what types of institutional voids may drive MNE foreign subsidiary political tie intensity in varying governance contextsThe authors’ study attempts to contribute to this important line of research by investigating how one type of institutional void, namely, perceived deficiencies in the legal service sector, can influence the intensity of poli","PeriodicalId":108650,"journal":{"name":"The Multinational Business Review","volume":"44 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-05-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129494369","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":"“Of course, cooperation first”: the effect of subsidiary capability and perception gaps for subsidiary development","authors":"Lu-Jui Chen, Hung-Tai Tsou","doi":"10.1108/mbr-10-2019-0125","DOIUrl":"https://doi.org/10.1108/mbr-10-2019-0125","url":null,"abstract":"This study aims to discuss not only the relationship between performance and cooperation but also discusses whether a subsidiary should prioritize performance above cooperation or whether a subsidiary should prioritize cooperation above performance. In addition, because the headquarters-subsidiary relationship influences the subsidiaries, the perception gaps (PGs) between headquarters and subsidiaries are taken as moderators to explore when there are perception differences between headquarters and subsidiaries and the effect on the relationship between subsidiaries’ cooperation (SCO) and performance (SP).,This study obtained the data through a survey of 170 subsidiaries in China; chief executive officer or senior managers were selected as the data collection sources. AMOS analysis was used to address sophisticated data analysis issues.,The empirical evidence indicates that subsidiary capabilities have direct impacts on SCO and SP. In addition, SCO and performance have mediating effects. More specifically, SCO has a full mediating effect and SP has a partial mediating effect. For the moderating effects, the PG weakens the effect of SCO on SP.,This study contributes to the literature on subsidiary capabilities by offering a headquarters-subsidiary relationship model. As both the conceptual and empirical research studies on this topic are still underdeveloped, the study provides fresh insights into collaborative management and offers significant theoretical and managerial implications. Specifically, this study focuses on the impacts that subsidiary capabilities and PG have on cooperation and performance.","PeriodicalId":108650,"journal":{"name":"The Multinational Business Review","volume":"72 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-05-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115348993","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":"Natural disasters and MNC sub-national investments in China","authors":"C. Oh, Jennifer M. Oetzel, Jorge Rivera, D. Lien","doi":"10.1108/mbr-02-2020-0044","DOIUrl":"https://doi.org/10.1108/mbr-02-2020-0044","url":null,"abstract":"The purpose of this study is to examine how foreign firms consider natural disaster risk in subsequent investment decisions in a host country and whether different location portfolios can serve to mitigate investment risk.,The author sample includes data on 437 Fortune Global 500 firms and their initial entry into Chinese provinces between 1955 and 2008.,Using a fixed effects logit model of discrete time event history analysis, results show that geographic proximity to same multinational corporation (MNC) subsidiaries and different MNC subsidiaries from the same home country mitigates the negative effect of natural disasters on MNC entry into an affected province, while geographic proximity to other MNC subsidiaries from different home countries does not.,The knowledge needed to respond to severe disasters appears to be highly context-specific and shared only between firms with a high degree of commonality and trust.","PeriodicalId":108650,"journal":{"name":"The Multinational Business Review","volume":"151 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-04-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115167426","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":"Dynamic capabilities during the internationalization of MNCs from post-socialist emerging markets","authors":"A. Panibratov, D. Klishevich","doi":"10.1108/mbr-06-2019-0052","DOIUrl":"https://doi.org/10.1108/mbr-06-2019-0052","url":null,"abstract":"This study aims to examine, which dynamic capabilities (DC) are used by companies from post-socialist emerging markets (PSEM) during their internationalization.,The paper uses a DC perspective together with the new internalization theory to examine the internationalization of companies from PSEM. It uses qualitative data from the interviews with 7 PSEM experts and the 16 cases of the multinational companies from PSEM.,PSEM companies develop particular DC while expanding abroad whereby innovation capability helps them internationalize beyond neighboring countries and overcome the stigma of being less competitive than advanced economies. Adaptability is the DC that helps private companies, which differ from state-owned PSEM firms, overcome the uncertainties of the changing environment. Innovation capability and absorptive capability help PSEM firms surmount their geographical position. Alliancing activity is the DC that is used at the initial stages of internationalization to boost technological development.,The study contributes to the body of knowledge on the internationalization of companies from transition economies and sheds light on the nature of DC for the successful international expansion of PSEM firms. It attempts to address the lack of empirical studies on DC. Methodological value is in the combination of case studies’ analysis and interviews with experts, which adds novelty to the studied subject.","PeriodicalId":108650,"journal":{"name":"The Multinational Business Review","volume":"23 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-01-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127718673","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":"Foreign venture capital firms and internationalization of ventures","authors":"Heejin Woo","doi":"10.1108/mbr-09-2019-0104","DOIUrl":"https://doi.org/10.1108/mbr-09-2019-0104","url":null,"abstract":"The purpose of this study is to examine how foreign venture capital firms affect the internationalization of investee ventures and their performance. The author argues that, as influential stakeholders, foreign venture capital (VC) firms engage in strategic decisions of investee ventures and may positively contribute to ventures’ business in foreign markets.,The study examines 551 VC-backed ventures that went public between 2000 and 2014 in the US. Logistic regressions and generalized linear models are used to test hypotheses, and the two-stage approach is used to address a potential endogeneity issue.,In the empirical results, the author finds that foreign VC investment is positively associated with the internationalization of ventures in terms of both the likelihood of internationalization and foreign sales intensity. In addition, the author finds that internationalization and foreign sales intensity are positively associated with firm performance when a venture is backed by a foreign VC firm.,This study makes important theoretical and empirical contributions to the international entrepreneurship literature by highlighting the role of foreign VC investors on internationalization of ventures.","PeriodicalId":108650,"journal":{"name":"The Multinational Business Review","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-01-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124340644","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":"How concentrated owners improve the performance of Asian firms","authors":"M. Essen, P. Heugens, P. Duran, Sabrina F. Saleh, Steve Sauerwald, H. Oosterhout, E. Xie","doi":"10.1108/mbr-07-2019-0078","DOIUrl":"https://doi.org/10.1108/mbr-07-2019-0078","url":null,"abstract":"The purpose of this study is to investigate how concentrated owners add value to Asian firms. While prior research suggests that relational owners (i.e., business groups, top management team, board, government, banks, families, and corporation) may help firms fill institutional voids, this study proposes that it is transactional owners (i.e., foreign and institutional investors) lacking this ability who contribute most to firm performance. As these owners frequently hail from contexts with well-developed corporate governance traditions, they tend to have experience with the design and implementation of such governance practices.,This study involves a meta-analysis covering 276 studies from 17 Asian countries.,This study shows that transactional owners impose effective governance practices such as separating the chief executive officer (CEO) and Chair roles and assuring board independence. These practices promote decisions benefiting all shareholders, such as preventing diversification and financial over-leveraging.,This study contributes to the comparative corporate governance literature by showing that implementing internal governance practices helps improve firm performance in Asia. It also contributes to the owner identity literature by opening the black box of how transactional and relational owners differentially affect firms’ strategic behavior. Overall, this study yields a more nuanced understanding of what transactional owners contribute to Asian firms.","PeriodicalId":108650,"journal":{"name":"The Multinational Business Review","volume":"59 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-12-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125370299","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":"Internationalization of e-commerce corporations (ECCs)","authors":"Mamoun Benmamoun, Nitish Singh, Kevin Lehnert, Sang bong Lee","doi":"10.1108/MBR-02-2018-0010","DOIUrl":"https://doi.org/10.1108/MBR-02-2018-0010","url":null,"abstract":"Purpose \u0000 \u0000 \u0000 \u0000 \u0000The growth of global e-commerce presents significant opportunities for global expansion. Yet it has not leveled the playing field between emerging markets e-commerce corporations (EM-ECCs) and advanced markets ECCs (AM-ECCs). While AM-ECCs have been expanding overseas with considerable success, EM-ECCs have been less disposed to internationalize and have been content to serve and defend their home turfs against foreign rivals who wield monopolistic advantages. Leveraging the network, ownership, location and internalization (N-OLI) theoretical framework, this paper aims to examine the variables affecting the internationalization of AM-ECCs and EM-ECCs. \u0000 \u0000 \u0000 \u0000 \u0000Design/methodology/approach \u0000 \u0000 \u0000 \u0000 \u0000This paper adopted an exploratory research method using multiple corporate cases to focus on understanding the dynamics present within single settings, capture corporate context and allow comparison between cases. \u0000 \u0000 \u0000 \u0000 \u0000Findings \u0000 \u0000 \u0000 \u0000 \u0000The findings suggest that AM-ECCs, in comparison to EM-ECCs, are endowed with favorable and strong network-based advantages, ownership-based advantages, location-based and internalization-based advantages that make them more capable of pursuing internationalization aggressively. However, EM-ECCs are induced to pursue regionally-focused internationalization due, on the one hand, to capital scarcity, weaknesses on network-based and internalization-based advantages and, on the other hand, to geographical strength and strong location-based advantages emanating from knowledge of the home region. \u0000 \u0000 \u0000 \u0000 \u0000Originality/value \u0000 \u0000 \u0000 \u0000 \u0000This paper identifies the internationalization challenges that EM-ECCs face with respect to AM-ECCs. While extending the theoretical discussion of the N-OLI framework in light of EM-ECCs, this paper also extends the EM-ECC strategies within local and regional markets, including emerging markets such as India and the Middle East. This extension supports the assertion that regional focused strategies are not immune to technological advantages which support the notion of a regional strategic growth strategy because of localization advantages and capital leverage limitations. Finally, the paper expands the analysis to some emerging markets that have attracted less attention in the literature, namely, India and the Middle East.","PeriodicalId":108650,"journal":{"name":"The Multinational Business Review","volume":"359 ","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-12-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"120933672","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}