从风险和不确定性的角度探讨腐败对跨国公司绩效的影响

IF 3.2 Q2 BUSINESS
Dawn L Keig, L. Brouthers
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引用次数: 2

摘要

目的本文旨在将风险/不确定性视角应用于腐败,探讨跨国企业经营环境中不同类型的腐败(正式与非正式)与企业绩效之间的不同关系。设计/方法论/方法本文使用投资组合方法来衡量跨国公司整套经营地点的正式和非正式腐败影响,并在648家公司的样本中使用会计和基于市场的绩效衡量标准来检验假设。发现这项研究假设并发现,由于形式腐败代表风险,它通常包括在跨国公司进入市场前对市场吸引力和成本之间的权衡的先验评估中,因此公司环境中更高的形式腐败与其财务业绩呈正相关。相反,与非正式腐败的普遍无形和普遍性相关的不确定性阻碍了在进入市场之前进行类似、准确的成本考虑,导致更高水平的非正式腐败与公司业绩之间存在负面关系。独创性/价值这项研究为跨国公司在腐败的制度环境中投资既有收益也有损失的观点提供了独特的实证支持,基于对风险和不确定性之间差异的理解,加强了考虑腐败在企业经营环境中的正式和非正式层面的潜在影响的重要性。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Exploring corruption impacts on MNE performance through the lens of risk and uncertainty
Purpose This paper aims to apply a risk/uncertainty lens to corruption to explore how different types of corruption (formal vs informal) in a multinational enterprise’s (MNE) operating environment have different relationships to firm performance. Design/methodology/approach This paper uses a portfolio approach to measure the formal and informal corruption impacts of an MNE’s entire set of operating locations and test the hypotheses using both accounting- and market-based measures of performance on a sample of 648 firms. Findings This study hypothesizes and finds that because formal corruption represents risk, it is typically included in the a priori evaluations of trade-offs between market attractiveness and costs made by MNEs prior to market entry, higher formal corruption in the firm’s environment is positively related to its financial performance. Conversely, the uncertainty associated with the generally intangible and pervasive nature of informal corruption prevents similar, accurate cost consideration before entering the market, resulting in a negative relationship between higher levels of informal corruption and firm performance. Originality/value This study provides unique empirical support for the notion that MNEs can both gain and lose by investing in corrupt institutional environments, grounded in an understanding of the differences between risk and uncertainty, reinforcing the importance of considering the potential impacts of both the formal and informal dimensions of corruption in a firm’s operating environment.
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来源期刊
CiteScore
6.90
自引率
25.80%
发文量
28
期刊介绍: Review of International Business and Strategy is keen to present contemporary and innovative research that proposes new perspectives or challenges existing theories, and that advances the understanding of issues related to international business and global strategy. Themes covered by the journal include (but are not limited to): Internationalization of firms and international entrepreneurship Effects of international environment (political, social, economic and institutional) on international business activities and firm strategies Knowledge transfer strategies and innovation in MNEs Location strategies in international business activities.
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