FDI expansion speed of state-owned enterprises and the moderating role of market capitalism: Evidence from China

International Business Review - Tập 28 - Trang 101596 - 2019
Ryan W. Tang1
1School of Management, University of South Australia, GPO Box 2471, Adelaide, SA, 5001, Australia

Tài liệu tham khảo

Aiken, 1991 Bai, 2006, Property rights protection and access to bank loans, Economics of Transition, 14, 611, 10.1111/j.1468-0351.2006.00269.x Barkema, 2007, Internationalising in small, incremental or larger steps?, Journal of International Business Studies, 38, 1132, 10.1057/palgrave.jibs.8400315 Barnett, 1994 Benito, 2016, The benefits of internationalization for state-owned enterprises, Global Strategy Journal, 6, 269, 10.1002/gsj.1138 Bevan, 2004, Foreign investment location and institutional development in transition economies, International Business Review, 13, 43, 10.1016/j.ibusrev.2003.05.005 Buckley, 2007, The determinants of Chinese outward foreign direct investment, Journal of International Business Studies, 38, 499, 10.1057/palgrave.jibs.8400277 Cantwell, 2010, An evolutionary approach to understanding international business activity: The co-evolution of MNEs and the institutional environment, Journal of International Business Studies, 41, 567, 10.1057/jibs.2009.95 Casillas, 2014, Speed of the internationalization process: The role of diversity and depth in experiential learning, Journal of International Business Studies, 45, 85, 10.1057/jibs.2013.29 Chan, 2010, Does subnational region matter? Foreign affiliate performance in the United States and China, Strategic Management Journal, 31, 1226, 10.1002/smj.854 Chang, 2011, Rapid FDI expansion and firm performance, Journal of International Business Studies, 42, 979, 10.1057/jibs.2011.30 China, 2018 Choudhury, 2014, Toward resource independence – Why state-owned entities become multinationals: An empirical study of India’s public R&D laboratories, Journal of International Business Studies, 45, 943, 10.1057/jibs.2014.20 Cohen, 1988 Cox, 1975, Partial likelihood, Biometrika, 62, 269, 10.1093/biomet/62.2.269 Cuervo-Cazurra, 2018, State-owned multinationals: Governments in global businesss, 1, 10.1007/978-3-319-51715-5_1 Cuervo-Cazurra, 2014, Governments as owners: State-owned multinational companies, Journal of International Business Studies, 45, 919, 10.1057/jibs.2014.43 Cuervo-Cazurra, 2018, The impact of the home country on internationalization, Journal of World Business, 53, 593, 10.1016/j.jwb.2018.06.002 Dacin, 2002, Institutional theory and institutional change: Introduction to the special research forum, Academy of Management Journal, 45, 45, 10.2307/3069284 Deephouse, 1996, Does isomorphism legitimate?, Academy of Management Journal, 39, 1024, 10.2307/256722 Deng, 2009, Why do Chinese firms tend to acquire strategic assets in international expansion?, Journal of World Business, 44, 74, 10.1016/j.jwb.2008.03.014 Dikova, 2013, Is cultural distance a bane or a boon for cross-border acquisition performance?, Journal of World Business, 48, 77, 10.1016/j.jwb.2012.06.009 DiMaggio, 1983, The Iron Cage revisited: Institutional isomorphism and collective rationality in organizational fields, American Sociological Review, 48, 147, 10.2307/2095101 DiMaggio, 1991, Introduction, 1 Duanmu, 2014, State-owned MNCs and host country expropriation risk: The role of home state soft power and economic gunboat diplomacy, Journal of International Business Studies, 45, 1044, 10.1057/jibs.2014.16 Estrin, 2016, Home country institutions and the internationalization of state owned enterprises: A cross-country analysis, Journal of World Business, 51, 294, 10.1016/j.jwb.2015.11.002 Estrin, 2011, The role of informal institutions in corporate governance: Brazil, Russia, India, and China compared, Asia Pacific Journal of Management, 28, 41, 10.1007/s10490-010-9229-1 Fan, 2017 Ferdinand, 2016, Westward ho—The China dream and ‘one belt, one road’: Chinese foreign policy under Xi Jinping, International Affairs, 92, 941, 10.1111/1468-2346.12660 Fligstein, 2001 Friedland, 1991, Bringing society back in: Symbols, practices, and institutional contradictions, 232 Gao, 2010, The pace of MNEs’ sequential entries: Cumulative entry experience and the dynamic process, Journal of International Business Studies, 41, 1572, 10.1057/jibs.2010.15 Globerman, 2009, Economic and strategic considerations surrounding Chinese FDI in the United States, Asia Pacific Journal of Management, 26, 163, 10.1007/s10490-008-9112-5 Goode, 2015 Greene, 2008 Greenwood, 2011, Institutional complexity and organizational responses, Academy of Management Annals, 5, 317, 10.5465/19416520.2011.590299 Greve, 2017, Institutional logics and power sources: Merger and acquisition decisions, Academy of Management Journal, 60, 671, 10.5465/amj.2015.0698 Guillén, 2002, Structural inertia, imitation, and foreign expansion: South Korean firms and business groups in China 1987–95, Academy of Management Journal, 45, 509, 10.2307/3069378 Heckman, 1979, Sample selection bias as a specification error, Econometrica, 47, 153, 10.2307/1912352 Hong, 2015, The role of the state in explaining the internationalization of emerging market enterprises, British Journal of Management, 26, 45, 10.1111/1467-8551.12059 Hoskisson, 2000, Strategy in emerging economies, Academy of Management Journal, 43, 249, 10.2307/1556394 Hu, 2014, Outward foreign direct investment of publicly listed firms from China: A corporate governance perspective, International Business Review, 23, 750, 10.1016/j.ibusrev.2013.11.003 Huang, 2017, Does state ownership facilitate outward FDI of Chinese SOEs? Institutional development, market competition, and the logic of interdependence between governments and SOEs, International Business Review, 26, 176, 10.1016/j.ibusrev.2016.06.005 Jory, 2014, Cross-border acquisitions of state-owned enterprises, Journal of International Business Studies, 45, 1096, 10.1057/jibs.2014.41 Kogut, 1988, The effect of national culture on the choice of entry mode, Journal of International Business Studies, 19, 411, 10.1057/palgrave.jibs.8490394 Kumaraswamy, 2012, Catch-up strategies in the Indian auto components industry: Domestic firms’ responses to market liberalization, Journal of International Business Studies, 43, 368, 10.1057/jibs.2012.4 Lawrence, 2002, Institutional effects of interorganizational collaboration: The emergence of proto-institutions, Academy of Management Journal, 45, 281, 10.2307/3069297 Lawson, 1994, The theory of state-owned enterprises in market economies, Journal of Economic Surveys, 8, 284, 10.1111/j.1467-6419.1994.tb00104.x Li, 2017, Cross-border acquisitions by state-owned firms: How do legitimacy concerns affect the completion and duration of their acquisitions?, Strategic Management Journal, 38, 1915, 10.1002/smj.2609 Li, 2018, Institutional compatibility and the internationalization of Chinese SOEs: The moderating role of home subnational institutions, Journal of World Business, 10.1016/j.jwb.2018.02.002 Li, 2014, Varieties in state capitalism: Outward FDI strategies of central and local state-owned enterprises from emerging economy countries, Journal of International Business Studies, 45, 980, 10.1057/jibs.2014.14 Lin, 2013, We are the (national) champions: Understanding the mechanisms of state capitalism in China, Stanford Law Review, 697 Lindsay, 1976, A theory of government enterprise, Journal of Political Economy, 8, 1061, 10.1086/260496 Luo, 2007, International expansion of emerging market enterprises: A springboard perspective, Journal of International Business Studies, 38, 481, 10.1057/palgrave.jibs.8400275 Luo, 2010, How emerging market governments promote outward FDI: Experience from China, Journal of World Business, 45, 68, 10.1016/j.jwb.2009.04.003 Mariotti, 2019, Varieties of capitalism and the internationalization of state-owned enterprises, Journal of International Business Studies, 10.1057/s41267-018-00208-2 Mazzolini, 1979, European government-controlled enterprises: Explaining international strategic and policy decisions, Journal of International Business Studies, 10, 16, 10.1057/palgrave.jibs.8490640 Meyer, 2014, Business under adverse home country institutions: The case of international sanctions against Myanmar, Journal of World Business, 49, 156, 10.1016/j.jwb.2013.04.005 Mohr, 2018, Explaining the effect of rapid internationalization on horizontal foreign divestment in the retail sector: An extended Penrosean perspective, Journal of International Business Studies, 49, 779, 10.1057/s41267-017-0138-0 Musacchio, 2014 Musteen, 2009, Ownership structure and CEO compensation: Implications for the choice of foreign market entry modes, Journal of International Business Studies, 40, 321, 10.1057/jibs.2008.63 Newenham-Kahindi, 2018, An institutional logics approach to liability of foreignness: The case of mining MNEs in Sub-Saharan Africa, Journal of International Business Studies, 49, 881, 10.1057/s41267-017-0111-y North, 1990 O’Brien, 2007, A caution regarding rules of thumb for variance inflation factors, Quality & Quantity, 41, 673, 10.1007/s11135-006-9018-6 Pan, 2014, Firms’ FDI ownership: The influence of government ownership and legislative connections, Journal of International Business Studies, 45, 1029, 10.1057/jibs.2014.27 Park, 2006, Market liberalization and firm performance during China’s economic transition, Journal of International Business Studies, 37, 127, 10.1057/palgrave.jibs.8400178 Peng, 2003, Institutional transactions and strategic choices, Academy of Management Review, 28, 275, 10.2307/30040713 Peng, 2006, What determines the scope of the firm over time and around the world? An Asia Pacific perspective, Asia Pacific Journal of Management, 23, 385, 10.1007/s10490-006-9021-4 Peng, 1996, The growth of the firm in planned economies in transition: Institutions, organizations, and strategic choice, Academy of Management Review, 21, 492, 10.2307/258670 Peng, 2009, The institution-based view as a third leg for a strategy tripod, Academy of Management Perspectives, 23, 63, 10.5465/amp.2009.43479264 Porac, 1995, Rivalry and the industry model of Scottish knitwear producers, Administrative Science Quarterly, 40, 203, 10.2307/2393636 Ralston, 2006, Today’s state-owned enterprises of China: Are they dying dinosaurs or dynamic dynamos?, Strategic Management Journal, 27, 825, 10.1002/smj.545 Ramamurti, 2009, What have we learned about emerging-market MNEs? Rudy, 2016, Revisiting FDI strategies and the flow of firm-specific advantages: A focus on state-owned enterprises, Global Strategy Journal, 6, 69, 10.1002/gsj.1106 Sartor, 2014, Offshoring innovation to emerging markets: Organizational control and informal institutional distance, Journal of International Business Studies, 45, 1072, 10.1057/jibs.2014.36 Sawyer, 1981, Statistical power and effect size in marketing research, Journal of Marketing Research, 18, 275, 10.1177/002224378101800302 Schu, 2016, Internationalization speed of online retailers: A resource-based perspective on the influence factors, Management International Review, 1 Scott, 1995 Scott, 2014 Shapiro, 2018, Exploring China’s state-led FDI model: Evidence from the extractive sectors in Latin America, Asia Pacific Journal of Management, 35, 11, 10.1007/s10490-017-9526-z Shaver, 1998, Accounting for endogeneity when assessing strategy performance: Does entry mode choice affect FDI survival?, Management Science, 44, 571, 10.1287/mnsc.44.4.571 Shinkle, 2010, Institutions, size and age in transition economies: Implications for export growth, Journal of International Business Studies, 41, 267, 10.1057/jibs.2009.9 Shleifer, 1998, State versus private ownership, Journal of Economic Perspectives, 12, 133, 10.1257/jep.12.4.133 Stalk, 1988 Sun, 2010, The dynamic value of MNE political embeddedness: The case of the Chinese automobile industry, Journal of International Business Studies, 41, 1161, 10.1057/jibs.2009.94 The Economist, 2018, Schumpeter: State your business, 429, 73 The Economist, 2019, Privatisation by stealth, Vol. 431, 67 Thornton, 2002, The rise of the corporation in a craft industry: Conflict and conformity in institutional logics, Academy of Management Journal, 45, 81, 10.2307/3069286 Thornton, 1999, Institutional logics and the historical contingency of power in organizations: Executive succession in the higher education publishing industry, 1958–1990, American Journal of Sociology, 105, 801, 10.1086/210361 Thornton, 2008, Institutional logics Thornton, 2012 Vahabi, 2012, Soft budget constraints and predatory states, Review of Radical Political Economics, 44, 468, 10.1177/0486613411434392 Vickers, 1991, Economic perspectives on privatization, Journal of Economic Perspectives, 5, 111, 10.1257/jep.5.2.111 Wang, 2012, What drives outward FDI of Chinese firms? Testing the explanatory power of three theoretical frameworks, International Business Review, 21, 425, 10.1016/j.ibusrev.2011.05.004 Wu, 2014, Home country institutional environments and foreign expansion of emerging market firms, International Business Review, 23, 862, 10.1016/j.ibusrev.2014.01.004 Xia, 2014, Outward foreign direct investment by emerging market firms: A resource dependence logic, Strategic Management Journal, 35, 1343, 10.1002/smj.2157 Xu, 2014, Organizational forms and multi-population dynamics, Administrative Science Quarterly, 59, 517, 10.1177/0001839214541866 Yiu, 2014, Dueling institutional logics and the effect on strategic entrepreneurship in Chinese business groups, Strategic Entrepreneurship Journal, 8, 195, 10.1002/sej.1177 Zhang, 2011, Completion of Chinese overseas acquisitions: Institutional perspectives and evidence, International Business Review, 20, 226, 10.1016/j.ibusrev.2010.07.003 Zhou, 2006, Organizational changes in emerging economies: Drivers and consequences, Journal of International Business Studies, 37, 248, 10.1057/palgrave.jibs.8400186