{"title":"国际化理论与天生的全球人","authors":"Nigel Wadeson","doi":"10.1108/mbr-10-2019-0123","DOIUrl":null,"url":null,"abstract":"\nPurpose\nIt has been claimed that Born Globals are incompatible with the Uppsala model, which is based on the firm having a maximum tolerable risk level. This assumption was used to explain observed incremental commitments, with further commitments being made as experiential learning reduces the level of risk faced. This study aims to show that adding a consideration of the role of expected value, including the effects of resource constraints, can reconcile the Born Global and internationalisation process literatures.\n\n\nDesign/methodology/approach\nThe theoretical arguments are supported by mathematical modelling of a firm pursuing expected value based on subjective beliefs.\n\n\nFindings\nWhile the effects of risk and expected value coincide when firms limit their downside risks by taking an incremental approach to commitments, other factors impacting on expected value can shift the balance of incentives towards earlier and more rapid internationalisation. For instance, some firms are specialised and have high costs of R&D, and so need to achieve early and rapid growth but face small home markets. While resource constraints can lead a firm to expand for some time in its home market before internationalising, the effect can be reversed in the case of the finance constraint for some firms.\n\n\nOriginality/value\nThe study shows how Born Global and internationalisation process literatures can be reconciled through a consideration of the effects of expected value on internationalisation decisions. It also provides a novel theoretical analysis of Born Globals.\n","PeriodicalId":46630,"journal":{"name":"Multinational Business Review","volume":" ","pages":""},"PeriodicalIF":2.2000,"publicationDate":"2020-04-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1108/mbr-10-2019-0123","citationCount":"7","resultStr":"{\"title\":\"Internationalisation theory and Born Globals\",\"authors\":\"Nigel Wadeson\",\"doi\":\"10.1108/mbr-10-2019-0123\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"\\nPurpose\\nIt has been claimed that Born Globals are incompatible with the Uppsala model, which is based on the firm having a maximum tolerable risk level. This assumption was used to explain observed incremental commitments, with further commitments being made as experiential learning reduces the level of risk faced. This study aims to show that adding a consideration of the role of expected value, including the effects of resource constraints, can reconcile the Born Global and internationalisation process literatures.\\n\\n\\nDesign/methodology/approach\\nThe theoretical arguments are supported by mathematical modelling of a firm pursuing expected value based on subjective beliefs.\\n\\n\\nFindings\\nWhile the effects of risk and expected value coincide when firms limit their downside risks by taking an incremental approach to commitments, other factors impacting on expected value can shift the balance of incentives towards earlier and more rapid internationalisation. For instance, some firms are specialised and have high costs of R&D, and so need to achieve early and rapid growth but face small home markets. While resource constraints can lead a firm to expand for some time in its home market before internationalising, the effect can be reversed in the case of the finance constraint for some firms.\\n\\n\\nOriginality/value\\nThe study shows how Born Global and internationalisation process literatures can be reconciled through a consideration of the effects of expected value on internationalisation decisions. It also provides a novel theoretical analysis of Born Globals.\\n\",\"PeriodicalId\":46630,\"journal\":{\"name\":\"Multinational Business Review\",\"volume\":\" \",\"pages\":\"\"},\"PeriodicalIF\":2.2000,\"publicationDate\":\"2020-04-13\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"https://sci-hub-pdf.com/10.1108/mbr-10-2019-0123\",\"citationCount\":\"7\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Multinational Business Review\",\"FirstCategoryId\":\"91\",\"ListUrlMain\":\"https://doi.org/10.1108/mbr-10-2019-0123\",\"RegionNum\":4,\"RegionCategory\":\"管理学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q3\",\"JCRName\":\"BUSINESS\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Multinational Business Review","FirstCategoryId":"91","ListUrlMain":"https://doi.org/10.1108/mbr-10-2019-0123","RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"BUSINESS","Score":null,"Total":0}
Purpose
It has been claimed that Born Globals are incompatible with the Uppsala model, which is based on the firm having a maximum tolerable risk level. This assumption was used to explain observed incremental commitments, with further commitments being made as experiential learning reduces the level of risk faced. This study aims to show that adding a consideration of the role of expected value, including the effects of resource constraints, can reconcile the Born Global and internationalisation process literatures.
Design/methodology/approach
The theoretical arguments are supported by mathematical modelling of a firm pursuing expected value based on subjective beliefs.
Findings
While the effects of risk and expected value coincide when firms limit their downside risks by taking an incremental approach to commitments, other factors impacting on expected value can shift the balance of incentives towards earlier and more rapid internationalisation. For instance, some firms are specialised and have high costs of R&D, and so need to achieve early and rapid growth but face small home markets. While resource constraints can lead a firm to expand for some time in its home market before internationalising, the effect can be reversed in the case of the finance constraint for some firms.
Originality/value
The study shows how Born Global and internationalisation process literatures can be reconciled through a consideration of the effects of expected value on internationalisation decisions. It also provides a novel theoretical analysis of Born Globals.
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.