nach oben

Erschienen in:

2017 | OriginalPaper | Buchkapitel

11. When Is FDI Valuable to the Multinational Enterprise? The Role of Firm Capabilities and International Experience

verfasst von : Piotr Trapczynski

Erschienen in: Value Creation in International Business

Verlag: Springer International Publishing

Einloggen

Aktivieren Sie unsere intelligente Suche, um passende Fachinhalte oder Patente zu finden.

search-config

KI-gestützte Suche

Aus

Abstract

While the relationship between the internationalization degree of multinational enterprises (MNEs) and their performance has long been an important issue in international business research, empirical research has only generated heterogeneous outcomes (Li 2007). This can be related to the fact that the internationalization degree in itself is not an explanatory, but an intermediate, variable (Verbeke and Brugman 2009). Hence, in order to benefit from the advantages of internationalization, firms need to leverage their resources in different foreign settings (Lu et al. 2010). Thus, added value in MNEs is generated from contributions originating in different parts of a network of subunits, exposed to divergent characteristics of host countries (Verbeke et al. 2009), and having different roles in the MNE portfolio (Luo 1999b). Despite the focus of academic attention on foreign expansion, divestment processes and withdrawals from foreign markets are commonplace (Benito and Welch 1997). Thus, the relationship between firm internationalization and its performance is clearly a non-obvious one.

Sie haben noch keine Lizenz? Dann Informieren Sie sich jetzt über unsere Produkte:

Springer Professional "Wirtschaft+Technik"

Online-Abonnement

Mit Springer Professional "Wirtschaft+Technik" erhalten Sie Zugriff auf:

über 102.000 Bücher
über 537 Zeitschriften

aus folgenden Fachgebieten:

Automobil + Motoren
Bauwesen + Immobilien
Business IT + Informatik
Elektrotechnik + Elektronik
Energie + Nachhaltigkeit
Finance + Banking
Management + Führung
Marketing + Vertrieb
Maschinenbau + Werkstoffe
Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

Jetzt informieren

Springer Professional "Wirtschaft"

Online-Abonnement

Mit Springer Professional "Wirtschaft" erhalten Sie Zugriff auf:

über 67.000 Bücher
über 340 Zeitschriften

aus folgenden Fachgebieten:

Bauwesen + Immobilien
Business IT + Informatik
Finance + Banking
Management + Führung
Marketing + Vertrieb
Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

Jetzt informieren

Vorheriges Kapitel Russian Oil and Gas MNEs Investing in China: The Role of Government in Value Creation

Nächstes Kapitel Mission Impossible: How to Create Value in Times of Crises

Agarwal, S., & Ramaswami, S. (1992). Choice of foreign market entry mode: Impact of ownership, location, and internalization factors. Journal of International Business Studies, 23(2), 1–27.CrossRef

Antaloczy, K., & Éltető, A. (2003). Outward foreign direct investment in Hungary. Motivation and effects. In M. Svetlicic & M. Rojec (Eds.), Facilitating transition by internationalization: Outward direct investment from Central European economies in transition (pp. 155–174). Aldershot: Ashgate.

Bartlett, C. A., & Ghoshal, S. (2002). Managing across borders. The transnational solution (2nd ed.). Boston: Harvard Business School Press.

Benito, G. R. G., & Welch, L. S. (1997). De-internationalization. Management International Review, 37(2), 7–25.

Brouthers, K. D., Brouthers, L. E., & Werner, S. (2003). Transaction cost-enhanced entry mode choices and firm performance. Strategic Management Journal, 24, 1239–1248.CrossRef

Brouthers, K. D., Brouthers, L. E., & Werner, S. (2008). Resource-based advantages in an international context? Journal of Management, 34, 189–217.CrossRef

Buckley, P. J., Elia, S., & Kafouros, M. (2014). Acquisitions by emerging market multinationals: Implications for firm performance. Journal of World Business, 49(4), 611–632.CrossRef

Chan, P. S. (1995). International joint ventures vs wholly owned subsidiaries. Multinational Business Review, 3(1), 37–44.

Chan, C., Isobe, T., & Makino, S. (2008). Which country matters? Institutional development and foreign affiliate performance. Strategic Management Journal, 29, 1179–1205.CrossRef

Chiao, Y.-C., Yu, C.-M. J., Li, P.-Y., & Chen, Y.-C. (2008). Subsidiary size, internationalization, product diversification and performance in an emerging market. International Marketing Review, 25(6), 612–633.CrossRef

Cui, L., & Jiang, F. (2010). Behind ownership decision of Chinese outward FDI: Resources and institutions. Asia Pacific Journal of Management, 27, 751–774.CrossRef

Del Sol, P., & Kogan, J. (2007). Regional competitive advantage based on pioneering economic reforms: The case of Chilean FDI. Journal of International Business Studies, 38, 901–927.CrossRef

Delios, A., & Beamish, P. W. (1999). Geographic scope, product diversification, and the corporate performance of Japanese firms. Strategic Management Journal, 20(8), 711–727.CrossRef

Demirbag, M., Tatoglu, E., & Glaister, K. W. (2007). Factors influencing perceptions of performance. The case of Western FDI in an emerging market. International Business Review, 16, 310–336.CrossRef

Dikova, D. (2009). Performance of foreign subsidiaries: Does psychic distance matter? International Business Review, 18, 38–49.CrossRef

Doryn, W. (2011). Wpływ internacjonalizacji na wyniki ekonomiczne polskich przedsiębiorstw przemysłowych. Łódź: Wydawnictwo Uniwersytetu Łódzkiego.

Dunning, J. H. (1979). Explaining the changing patterns of international production: In defence of the eclectic theory. Oxford Bulletin of Economics and Statistics, 41(4), 269–295.CrossRef

Dunning, J. H. (1988a). The eclectic paradigm of international production: A restatement and some possible extensions. Journal of International Business Studies, 19(1), 1–31.CrossRef

Dunning, J. H. (1988b). The theory of international production. International Trade Journal, 111(1), 21–66.CrossRef

Dunning, J. H. (1993). Multinational enterprises and the global economy. Harlow: Addison-Wesley.

Dunning, J. H. (1995). Reappraising the eclectic paradigm in an age of alliance capitalism. Journal of International Business Studies, 26(3), 461–491.CrossRef

Dunning, J. H. (1996). The geographical sources of the competitiveness of firms: Some results of a new survey. Transnational Corporations, 5(3), 1–29.

Dunning, J. H. (2001). The eclectic (OLI) paradigm of international production: Past, present and future. International Journal of the Economics of Business, 8(2), 173–190.CrossRef

Dunning, J. H. (2002). Perspectives on international business research: A professional autobiography fifty years researching and teaching international business. Journal of International Business Studies, 33(4), 817–835.CrossRef

Dunning, J. H., & Lundan, S. M. (1998). The geographical sources of competitiveness of multinational enterprises: An econometric analysis. International Business Review, 7(2), 115–133.CrossRef

Dunning, J. H., & Lundan, S. M. (2008). Multinational enterprises and the global economy. Cheltenham: Edward Elgar.

Dunning, J. H., Kim, C., & Park, D. (2008). Old wine in the new bottles: A comparison of emerging-market TNCs today and developed-country TNCs thirty years ago. In K. P. Sauvant (Ed.), The rise of transnational corporations from emerging markets. Threat or opportunity (pp. 158–182). Cheltenham: Edward Elgar.

Fang, Y., Jiang, G.-J., Makino, S., & Beamish, P. W. (2010). Multinational firm knowledge, use of expatriates, and foreign subsidiary performance. Journal of Management Studies, 47(1), 27–54.CrossRef

Fang, Y., Wade, M., Delios, A., & Beamish, P. W. (2013). An exploration of multinational enterprise knowledge resources and foreign subsidiary performance. Journal of World Business, 48, 30–38.CrossRef

Gammelgaard, J., McDonald, F., Stephan, A., Tüselmann, H., & Dörrenbächer, C. (2012). The impact of increases in subsidiary autonomy and network relationships on performance. International Business Review, 21(6), 1158–1172.CrossRef

Gao, G., Pan, Y., Lu, J., & Tao, Z. (2008). Performance of multinational firms’ subsidiaries: Influences of cumulative experience. Management International Review, 48(6), 749–768.CrossRef

Gaur, A. S., & Lu, J. W. (2007). Ownership strategies and survival of foreign subsidiaries: Impacts of institutional distance and experience. Journal of Management, 33(1), 84–110.CrossRef

Ghahroudi, M. (2011). Ownership advantages and firm factors influencing performance of foreign affiliates in Japan. International Journal of Business and Management, 6(11), 119–137.CrossRef

Ghoshal, S. (1987). Global strategy: An organizing framework. Strategic Management Journal, 8, 425–440.CrossRef

Gorynia, M., Nowak, J., Trapczynski, P., & Wolniak, R. (2013). Internationalization of Polish firms via foreign direct investment: A multiple-case study approach. In M. A. Marinov & S. T. Marinova (Eds.), Successes and challenges of emerging economy multinationals (pp. 49–76). Basingstoke: Palgrave Macmillan.

Gorynia, M., Nowak, J., Trapczynski, P., & Wolniak, R. (2015). Establishment mode choices of emerging multinationals: Evidence from Poland. Managing Global Transitions, 13(2), 101–124.

Harrell, F. E. (2001). Regression modeling strategies. New York: Springer.CrossRef

Hennart, J.-F. (2012). Emerging market multinationals and the theory of the multinational enterprise. Global Strategy Journal, 2(3), 168–187.CrossRef

Hymer, S. (1976). The international operations of national firms: A study of direct foreign investment. Cambridge: MIT Press.

Jarillo, J. C., & Martinez, J. I. (1990). Different roles for subsidiaries: The case of multinational corporations in Japan. Strategic Management Journal, 11(7), 501–512.CrossRef

Jaworek, M., Szalucka, M., & Szostek, A. (2009). Knowledge and skills as competitiveness factors of Polish direct investment companies. In W. Karaszewski (Ed.), Foreign direct investment of Polish companies: Its scale, structure, determinants, influence on the competitiveness (pp. 41–62). Toruń: Wydawnictwo Naukowe UMK.

Jormanainen, I., & Koveshnikov, A. (2012). International activities of emerging market firms. A critical assessment of research in top international management journals. Management International Review, 52(5), 691–725.CrossRef

Kim, Y., & Gray, S. J. (2008). The impact of entry mode choice on foreign affiliate performance: The case of foreign MNEs in South Korea. Management International Review, 48(2), 165–188.CrossRef

Kwon, Y.-C. (2010). Market orientation of Korean MNC subsidiaries and their performance in the Chinese and Indian markets. International Marketing Review, 27(2), 79–199.CrossRef

Li, L. (2007). Multinationality and performance: A synthetic review and research agenda. International Journal of Management Reviews, 9(2), 117–139.CrossRef

Li, C.-S., Henley, J., Ansell, J., & Dong, T.-P. (2011). Location-specific factors, localisation strategy and firm performance: A case study of Taiwanese manufacturing MNE subsidiaries investing in China. Tijdschrift voor Economische en Sociale Geografie, 102(4), 426–440.CrossRef

Lu, J. W., & Beamish, P. W. (2004). International diversification and firm performance: The S-curve hypothesis. Academy of Management Journal, 47(4), 598–609.CrossRef

Lu, Y., Zhou, L., Bruton, G., & Li, W. (2010). Capabilities as a mediator linking resources and the international performance of entrepreneurial firms in an emerging economy. Journal of International Business Studies, 41, 419–436.CrossRef

Luo, Y. (1999a). Time-based experience and international expansion: The case of an emerging economy. Journal of Management Studies, 36(4), 505–534.CrossRef

Luo, Y. (1999b). International strategy and subsidiary performance in China. Thunderbird International Business Review, 41(2), 153–178.CrossRef

Luo, Y. (2002). Capability exploitation and building in a foreign market: Implications for multinational enterprises. Organization Science, 13(1), 48–63.CrossRef

Luo, Y., & Tung, R. (2007). International expansion of emerging market enterprises: A springboard perspective. Journal of International Business Studies, 38, 481–498.CrossRef

Musteen, M., Francis, J., & Datta, D. K. (2010). The influence of international networks on internationalization speed and performance: A study of Czech SMEs. Journal of World Business, 45, 197–205.CrossRef

Narula, R. (2006). Globalization, new ecologies, new zoologies, and the purported death of the eclectic paradigm. Asia Pacific Journal of Management, 23(2), 143–151.CrossRef

Nicholson, R. R., & Salaber, J. (2013). The motives and performance of cross-border acquirers from emerging economies: Comparison between Chinese and Indian firms. International Business Review, 22(6), 963–980.CrossRef

Obloj, K. (2014). Firma międzynarodowa jako przedmiot badań. In K. Obloj & A. Wasowska (Eds.), Zarządzanie międzynarodowe. Teoria i praktyka (pp. 28–46). Warszawa: Polskie Wydawnictwo Ekonomiczne.

Obloj, K., & Wasowska, A. (2012). Location determinants of Polish outward FDI and the (limited) impact of the global crisis. In M. Marinov (Ed.), Emerging economies and their firms in the global crisis. Palgrave Macmillan: Basingstoke.

Ogasavara, M. H. (2010). The role of experiential knowledge and subsequent investment decisions on the profitability of Japanese companies in Brazil. Japan and the World Economy, 19, 1–25.CrossRef

Ogasavara, M. H., & Hoshino, Y. (2007). The impact of ownership, internalization and entry mode on Japanese subsidiaries’ performance in Brazil. Brazilian Administration Review, 7(1), 59–78.CrossRef

Panibratov, A., & Latukha, M. (2014). Foreign expansion of Russian firms based on natural resources and technology. In M. A. Marinov & S. T. Marinova (Eds.), Successes and challenges of emerging economy multinationals (pp. 128–157). Basingstoke: Palgrave Macmillan.CrossRef

Peng, M. W., Sun, S. L., Pinkham, B., & Chen, H. (2009). The institution-based view as a third leg for a strategy tripod. Academy of Management Perspectives, 23(3), 63–81.CrossRef

Porter, M. E. (1986). Changing patterns of international competition. California Management Review, 28(2), 9–40.CrossRef

Qin, C., Ramburuth, P., & Wang, Y. (2011). A conceptual model of cultural distance, MNC subsidiary roles and knowledge transfer in China-based subsidiaries. Organizations and Markets in Emerging Economies, 2(2), 8–27.

Radlo, M.-J. (2012). Emerging multinationals and outward FDI development: The case of Poland. Eastern European Economics, 50(2), 59–84.CrossRef

Ramamurti, R. (2010). Why study emerging-market multinationals? In R. Ramamurti & J. V. Singh (Eds.), Emerging multinationals in emerging markets (pp. 3–22). Cambridge: Cambridge University Press.

Ratajczak-Mrozek, M., Dymitrowski, A. and Malys, L. (2011). Formy ekspansji zagranicznej a wyniki rynkowe polskich przedsiębiorstw (wyniki badań), Współczesna gospodarka światowa. Problemy na poziomie mikro- i makroekonomicznym, Uniwersytet Ekonomiczny w Poznaniu.

Rugman, A. M., & Verbeke, A. (1992). A note on the transactional solution and the transaction cost theory of multinational strategic management. Journal of International Business Studies, 23(4), 761–771.CrossRef

Slangen, A. H. L., & Hennart, J.-F. (2008). Do foreign greenfields outperform foreign acquisitions or vice versa? An institutional perspective. Journal of Management Studies, 45(7), 1301–1328.CrossRef

Sliwinski, R. (2011). Kluczowe czynniki międzynarodowej konkurencyjności przedsiębiorstw. Poznan: Wydawnictwo UEP.

Svetlicic, M., & Jaklic, A. (2003). Outward FDI by transition economies: Basic features, trends and development implications. In M. Svetlicic & M. Rojec (Eds.), Facilitating transition by internationalization: Outward direct investment from Central European economies in transition (pp. 49–76). Aldershot: Ashgate.

Svetlicic, M., Rojec, M., & Trtnik, A. (2000). The restructuring role of outward foreign direct investment by Central European firms: The case of Slovenia. Advances in International Marketing, 10, 53–88.CrossRef

Szalucka, M. (2009). The influence of foreign direct investment on the competitiveness of Polish investors. In W. Karaszewski (Ed.), Foreign direct investment of Polish companies: Its scale, structure, determinants, influence on the competitiveness (pp. 89–112). Toruń: Wydawnictwo Naukowe UMK.

Tran, Y., Mahnke, V., & Ambos, B. (2010). The effect of quantity, quality and timing of headquarters-initiated knowledge flows on subsidiary performance. Management International Review, 50(4), 493–511.CrossRef

Trapczynski, P. (2015). Foreign direct investment strategies and performance in the internationalisation of Polish companies. Warsaw: Difin.

Uhlenbruck, K. (1997). Entry motives and firm capabilities: Performance implications for foreign direct investment in Central and Eastern Europe. Academy of Management, 1, 204–208.

Väätänen, J., Podmetina, D., & Pillania, R. K. (2009). Internationalization and company performance: A study of emerging Russian multinationals. Multinational Business Review, 17(2), 157–177.CrossRef

Vega-Cespedes, C., & Hoshino, Y. (2001). Effects of ownership and internalization advantages on performance: The case of Japanese subsidiaries in the United States and Latin America. Review of Pacific Basin Financial Markets and Policies, 4(1), 69–94.CrossRef

Verbeke, A., & Brugman, P. (2009). Triple-testing the quality of multinationality-performance research: An internalization theory perspective. International Business Review, 19, 265–275.CrossRef

Verbeke, A., Li, L., & Goerzen, A. (2009). Toward more effective research on the multinationality-performance relationship. Management International Review, 49, 149–162.CrossRef

Wang, C., Hong, J., Kafouros, M., & Boateng, A. (2012). What drives outward FDI of Chinese firms? Testing the explanatory power of three theoretical frameworks. International Business Review, 21, 425–438.CrossRef

Xia, Y., Qiu, Y., & Zafar, A. U. (2007). The impact of firm resources on subsidiary’s competitiveness in emerging markets: An empirical study of Singaporean SMEs’ performance in China. Multinational Business Review, 15(2), 13–40.CrossRef

Yamakawa, Y., Peng, M. W., & Deeds, D. L. (2008). What drives new ventures to internationalize from emerging to developed economies? Entrepreneurship Theory and Practice, 32, 59–82.CrossRef

Titel: When Is FDI Valuable to the Multinational Enterprise? The Role of Firm Capabilities and International Experience
verfasst von: Piotr Trapczynski
Verlag: Springer International Publishing
Buch: Value Creation in International Business
Print ISBN: 978-3-319-30802-9

Electronic ISBN: 978-3-319-30803-6

Copyright-Jahr: 2017
DOI: https://doi.org/10.1007/978-3-319-30803-6_11