The new frontiers of international business: development, evolving topics, and implications for practice
In: Contributions to management science
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In: Contributions to management science
In: Contributions to management science
This handbook takes a three-part approach that helps to understand and chart scholarship in the discipline of International Business (IB). The chapters in part 1 briefly discuss the scholarly landscape in IB, identify new ways of advancing the current literature, and highlight some ways in which to do so. The chapters in part 2 discuss current topics IB scholars should focus on, how to understand them, the challenges involved, and the role of interdisciplinary outreach. The chapters in part 3 discuss IBs broader societal role along several dimensions of relevance to scholars and practitioners. IB researchers, management scholars, and practitioners can use this book to enhance their current knowledge and nurture new ideas based on the chapters written by some of the worlds leading experts.
In: Emerging Market Firms in the Global Economy; International Finance Review, S. 147-179
In: Canadian journal of administrative sciences: Revue canadienne des sciences de l'administration, Band 22, Heft 3, S. 193-205
ISSN: 1936-4490
In: Multinational business review, Band 16, Heft 3, S. 93-119
ISSN: 2054-1686
Empirical studies of the shareholder valuation impact of firms' international joint venture (IJV) participation have usually emphasized firm‐specific factors, but rarely extended their analysis to location‐specific factors. This is a crucial omission because the two sets of factors are interconnected vis‐a‐vis their influence on firms' performance. Yet, previous work has neither identified how the two sets of factors complement each other nor investigated the effect of these complementarities on the shareholder value of firms who enter into IJVs. This study attempts to fill these gaps. It develops a typology of IJVs and then performs cluster analysis on a sample of 241 equity IJVs. Results indicate eight clusters in the data, including three clusters with positive shareholder value. In deriving support for its six hypotheses, the study highlights both value‐creating and value‐neutral configurations of firm‐ and location‐specific variables.
In: Canadian journal of administrative sciences: Revue canadienne des sciences de l'administration, Band 21, Heft 2, S. 129-145
ISSN: 1936-4490
AbstractThis study attempts to empirically reconcile the prevalent mixed findings regarding reactions of capital markets to announcements of American firms' participation in international joint ventures (IJVs). It does so by first admitting salient contextual variables into the portfolio of firm‐specific variables—heretofore mostly considered in isolation—and then modeling their collective impact on these parents' shareholder value. A cluster analysis of more than 700 equity IJVs yields findings that highlight important interactions between the two sets of variables, which better inform creation and destruction of shareholder value for IJV parents. These findings facilitate development of a conceptual framework for assessing how parents can exploit the inter‐connectedness between their firm‐specific and contextual domains. Thus, this study lays a foundation for generating more refined predictions about shareholder value creation via IJVs.RésuméLa présente étude essaie de concilier, de façon empirique, les conclusions contradictoires, révélées par l'étude des réactions des marchés de capitaux aux annonces par les firmes américaines de leur participation aux coentreprises internationales. Elle y parvient en deux temps: premièrement, par la reconnaissance des variables contextuelles fondamentales, jusque‐là surtout considérées de façon isolée, dans le portfolio des variables spécifiques aux firmes; deuxièmement, par la modélisation de leur impact collectif sur la création des valeurs pour les actionnaires des firmes impliquées dans ces coentreprises. Les conclusions tirées de l'analyse par segments de plus de 700 coentreprises boursières internationales mettent en évidence d'importantes interactions (entre les deux groupes de variables) dans la création et la destruction des valeurs pour les actionnaires des coentreprises internationales. De façon incidente, les conclusions de l'étude tracent les contours d'un cadre conceptuel permettant de montrer comment les partenaires peuvent exploiter l'interrelation entre leurs secteurs spécifiques et les domaines contextuels. En somme, l'étude jette les bases d'une meilleure capacité de prédiction dans la création des valeurs par les actionnaires, via les coentreprises internationales.
In: Multinational business review, Band 27, Heft 4, S. 364-396
ISSN: 2054-1686
PurposePrevious work in international business largely disregards the interplay between home-country conditions and firms' geographical diversification – implying that, regardless of indigenous conditions, firms can modify their domestic performance (which the authors measure in terms of change in firms' domestic productivity) merely by diversifying into international markets. The authors contest this view and argue that diversification does not substitute for home-country conditions. Rather, it moderates the baseline impact of home-country conditions on indigenous firms' domestic performance. The purpose of this study is to describe these mechanisms and empirically examine their implications for indigenous firms' performance.Design/methodology/approachThe authors investigate the above model based on a 20-year longitudinal analysis of 600 observations involving telecommunication incumbents from 65 countries. They control for possible reverse causality between firms' international diversification (and other firm-specific factors) and their domestic performance, and conduct several robustness checks.FindingsThe authors find – as hypothesized – that international diversification moderates the baseline performance impact of different home-country attributes in different ways. Such diversification does not have a uniform moderating effect on home-country attributes. In other words, the baseline effects of home-country conditions are altered as indigenous firms become more internationalized.Originality/valueTheoretically, this work bridges the micro- and macro-level arguments that interweave strands from the competitive strategy and national competitive advantage literatures. By unpacking diversification's rolevis-à-visthe effect of upstream (home-country) conditions on firm performance, the authors attempt to shed light on the mechanisms that help (or hinder) indigenous firms' performance. Empirically, this study helps to reconcile seemingly opposite views about whether and, if so, how much home-country conditions shape indigenous firms' expansion after they have diversified internationally.
In: Edward Elgar E-Book Archive
In: Research handbooks in business and management series
In: Multinational business review, Band 31, Heft 2, S. 176-196
ISSN: 2054-1686
Purpose
The purpose of this study is to demonstrate the effect of initial international joint ventures (IJV) structural conditions on two main equity-based instability facets: change of IJV ownership structure and acquisition of the IJV by one of the IJV partners. Drawing on the transaction cost theory, the authors examine three key initial structural conditions: IJV formation mode, number of partners and IJV's ownership structure.
Design/methodology/approach
The authors apply the "Event history analysis" technique to test the hypotheses using a data set of 140 French-foreign JVs.
Findings
The findings show that the mode of an acquisitive IJV and unequal equity positions held by partners increase the likelihood of a change of IJV's ownership structure and its eventual acquisition by one of the partners. In addition, the findings show that while an increase in the number of IJV partners is directly related to the change of IJV ownership structure, it has a statistically insignificant effect on IJV acquisition.
Originality/value
Drawing on "transaction costs" arguments, this study advances the literature by offering fine-grained results related to the effects of initial structural conditions on aspects of unintended instability in French-foreign JVs.
In: International journal of human resource management, Band 27, Heft 20, S. 2461-2487
ISSN: 1466-4399