Suchergebnisse

This study examines environmental and organizational factors that influence a multinational enterprise's (MNE's) capability exploitation and building in a complex foreign market. Analysis of data from 167 MNE subunits in the People's Republic of China suggests that capability exploitation and capability building are inversely associated with environmental complexity and industrial uncertainty. Business cultural specificity impedes capability exploitation but not capability building. While capability exploitation is associated with the use of wholly owned entry mode, capability building is linked to the joint venture mode. MNEs seeking local market expansion also deploy greater capability exploitation and building than those seeking export market growth. Our analysis further suggests that the threats of environmental hazards on capability building are reduced when the joint venture entry mode is used. An appropriate alignment of capability exploitation or building with its identified determinants is found to be associated with high performance.

This study examines how personal attachments between boundary spanners within cross-cultural international cooperative ventures (ICVs) are established and their association with venture performance. Results of analysis of 282 ICVs in an emerging market (People's Republic of China) show that the development of personal attachment depends on factors at three levels. At the individual level, attachment is an increasing function of overlap in tenure between boundary spanners. At the organizational level, attachment is heightened by goal congruity between the parent firms but is impeded by cultural distance. At the environmental level, market disturbance and regulatory deterrence lead to strong attachments. Such attachments stimulate an ICV's process performance and increase financial returns.

Building upon the theoretical foundations provided by the international economics and industrial economics literature, this study examines the multivariate and univariate effects of industry structure attributes and firm competence components on the performance of foreign‐funded enterprises operating in a transitional economy (People's Republic of China). It is found that industry attractiveness and firm competence are both critical to international investment performance. It is also observed that different industry and firm‐level variables influence differentially the various dimensions of performance.

It has been hypothesized in the international joint venture (IJV) literature that partner selection affects interpartner "fit" which in turn influences a synergistic effect on IJV performance. This study investigates the relationship between IJV success and the strategic and organizational traits of local partners. We address this issue in the context of an emerging economy (P.R. China). Newly emerging economies have in recent years become major hosts of direct investment by multinational corporations (MNCs) because these rapidly expanding economies, characterized by an exploding demand previously stifled by ideologically-based government intervention, provide tremendous opportunities which MNCs can preempt. MNCs in such economies, however, face the challenges of structural reform, weak market structure, poorly specified property rights, and institutional uncertainty. Right local partners can help MNCs boost market expansion, obtain insightful information, mitigate operational risks, and provide country-specific knowledge. The analysis of the data obtained from China suggests that both strategic and organizational traits of local partners are significantly associated with some individual dimensions of IJV performance. Among strategic traits, absorptive capacity, product relatedness, and market power are favorable to IJVs' market and financial outcomes. Market power and experience significantly reduce IJVs' operational uncertainties. Of organizational traits, international experience and organizational collaboration are important for IJVs' not only profitability and stability but also local market expansion and export growth. Organizational form and size influence IJVs' local market performance. The findings provided by this study can help MNCs determine what criteria they should use in opting for local partners and what criteria are vital to their goal accomplishment. Those investors seeking local market expansion should select those local partners that have rich market experience, superior market position, high absorptive capacity, and related product diversification with the IJVs. Those seeking profitability and stability should select local firms that have superior international experience, longer organizational collaboration, and greater market power. While MNCs should use appropriate strategic and organizational criteria to select local partners, the host government or local firms can try to make these traits available to attract more stable and profitable foreign direct investment.

This study explores the systematic relationship between business unit-level performance and strategic dimensions of international strategy. To capture the "match" effect between different-level strategies, this study examines parent-level investment strategy and subsidiary-level business strategy together within an integrated model. On the basis of a cross-sectional empirical analysis of the data on foreign-invested enterprises (FIE) operating in China, it is found that (a) among business strategy variables, product quality, sales force marketing, and liberal credit granting have significantly positive influences on FIE performance; (b) among investment strategy variables, industry selection and timing of entry are significant ones affecting venture's return and market growth; (c) interactions between business strategy and investment strategy significantly impact on FIE performance.

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