Asset specificity and foreign market entry mode choice of small and medium-sized enterprises: The moderating influence of knowledge safeguards and institutional safeguards

被引：88
|
作者：
Maekelburger, Birger [1 ]
Schwens, Christian [2 ]
Kabst, Ruediger
机构：
[1] Univ Giessen, Dept Human Resource Management Small & Medium Siz, Fac Econ & Business Adm, D-35394 Giessen, Germany
[2] Univ Dusseldorf, Fac Business Adm & Econ, D-40225 Dusseldorf, Germany
来源：
JOURNAL OF INTERNATIONAL BUSINESS STUDIES | 2012年 / 43卷 / 05期
关键词：
foreign market entry mode choice; small and medium-sized enterprises (SMEs); asset specificity; knowledge safeguards; institutional safeguards; TRANSACTION-COST-ANALYSIS; INVESTMENT STRATEGIES; CULTURAL DISTANCE; SOCIAL-STRUCTURE; JAPANESE FIRMS; JOINT VENTURES; IMPACT; GOVERNANCE; EXPERIENCE; OWNERSHIP;
D O I：
10.1057/jibs.2012.12
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
According to transaction cost economics (TCE) reasoning, firms choose equity (as opposed to non-equity) foreign market entry modes to safeguard specific assets. The present paper contextualizes the well-researched relationship between asset specificity and foreign market entry mode choice by introducing knowledge safeguards (international experience, host-country networks, and imitation) and institutional safeguards (property rights protection and cultural proximity) as alternative mechanisms for securing a firm's specific assets. Testing our hypotheses on a sample of 206 small and medium-sized enterprises, we find that knowledge safeguards and institutional safeguards weaken the effect of asset specificity on the choice of equity foreign market entry modes. Contextualizing the relationship between asset specificity and foreign market entry mode choice helps to enhance our understanding of the scope conditions of TCE-based entry mode studies and beyond. Journal of International Business Studies (2012) 43, 458-476. doi:10.1057/jibs.2012.12
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页码：458 / 476
页数：19
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