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Asia Pacific Journal of Management
Erschienen in: Asia Pacific Journal of Management 4/2018

02.10.2018 | Reviews

The growth of the firm in (and out of) emerging economies

verfasst von: Mike W. Peng, Sergey Lebedev, Cristina O. Vlas, Joyce C. Wang, Jason S. Shay

Erschienen in: Asia Pacific Journal of Management | Ausgabe 4/2018

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Abstract

Starting with Peng and Heath (Academy of Management Review, 21: 492–528, 1996), the growth of the firm in emerging economies (EE) has received increasing attention in the literature in the last two decades. This line of research has not only extended our knowledge on firms’ strategic choices to the context of EE, but also proposed new perspectives on the growth of the firm. Leveraging prior research, this article focuses on three major modes for firm growth—organic, acquisitive, and network-based. For each mode, we identify new themes and insights emerging from the last two decades of research. They center on (1) compositional capabilities and frugal innovations for organic growth, (2) business groups and cross-border acquisitions for acquisitive growth, and (3) network capitalism and institutional transitions for network-based growth. Overall, we not only identify new themes and insights, but also outline important yet unresolved debates as future research directions.
Nächster Artikel Scholarship-practice “oneness” of an academic career: The entrepreneurial pursuit of an expansive view of management scholarship

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Fußnoten
1
According to Peng and Heath (1996: 498), Penrose’s (1959) theory and related work up to the early 1990s can be summarized by five propositions: “(1) Firm growth is driven by the strategic choice for growth adopted by top management teams. (2) The firm is considered to be a collection of resources, which include physical and human resources as well as organizational routines. (3) The existence of excess resources is a precondition for such growth. The principal motivation for growth is the desire to fully employ underutilized resources. (4) The firm has three basic strategic choices for growth: (a) undertake generic expansion, (b) conduct mergers and acquisitions, and/or (c) develop interorganizational relationships, which correspond to hierarchy, market, and hybrid modes of organizing, respectively. (5) The growth of the firm is limited by two constraints: (a) its capability to articulate and codify its organizational routines and transmit this information to its members and (b) its ability to overcome transaction cost and bureaucratic cost problems incurred in the course of growth.”
 
2
These 64 EE are: Albania, Argentina, Armenia, Azerbaijan, Bangladesh, Belarus, Bosnia and Herzegovina, Botswana, Brazil, Bulgaria, Chile, China, Colombia, Cote d’Ivoire, Croatia, Czech Republic, Ecuador, Egypt, Estonia, Georgia, Ghana, Greece, Hungary, India, Indonesia, Israel, Jamaica, Jordan, Kazakhstan, Kenya, Korea, Kyrgyzstan, Latvia, Lithuania, Macedonia, Malaysia, Mauritius, Mexico, Moldova, Morocco, Nigeria, Pakistan, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Slovakia, Slovenia, South Africa, Sri Lanka, Taiwan, Tajikistan, Thailand, Trinidad and Tobago, Tunisia, Turkey, Turkmenistan, Ukraine, Uzbekistan, Venezuela, and Zimbabwe.
 
3
For example, if membership in the European Union (EU) is regarded as attaining the status of DE (Kostova & Hult, 2016: 27), 11 of the 64 countries on Hoskisson et al.’s (2000) list of EE have now become EU members: Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia, and Slovenia. In addition, two EU members as of 2000 are also on Hoskisson et al.’s (2000) original list of EE: Greece and Portugal (p. 250). It is not clear, according to Hoskisson et al. (2000) and related later work (Hoskisson et al., 2013), whether these 11 new EU members as well as Greece and Portugal should now be considered DE or still be considered EE.
 
4
These 28 DE are: Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Greece, Hong Kong, Iceland, Ireland, Israel, Italy, Japan, Luxembourg, the Netherlands, New Zealand, Norway, Portugal, Singapore, South Korea, Spain, Sweden, Switzerland, Taiwan, the United Kingdom, and the United States.
 
5
In August 2017, Tencent had over 200 million users and enjoyed a market value exceeding US$400 billion, becoming the second Asian company (after Alibaba) to reach such a high level.
 
6
For example, one Chinese expatriate said that “We were not allowed to switch off our mobile phones because we were required to provide 24/7 services to our customers. This is definitely not possible for DMNCs [multinationals from DE] in this market” (Rui et al., 2017: 132).
 
7
To enhance the clarity of our presentation, we number the new debates in this section and the next section following the number of the first two debates in the previous section.
 
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Metadaten
Titel
The growth of the firm in (and out of) emerging economies
verfasst von
Mike W. Peng
Sergey Lebedev
Cristina O. Vlas
Joyce C. Wang
Jason S. Shay
Publikationsdatum
02.10.2018
Verlag
Springer US
Erschienen in
Asia Pacific Journal of Management / Ausgabe 4/2018
Print ISSN: 0217-4561
Elektronische ISSN: 1572-9958
DOI
https://doi.org/10.1007/s10490-018-9599-3

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