Performance shortfalls and outward foreign direct investment by MNE subsidiaries: Evidence from China

被引：16
|
作者：
Deng, Ziliang [1 ]
Li, Tingting [1 ]
Liesch, Peter W. [2 ]
机构：
[1] Renmin Univ China, Renmin Business Sch, Beijing 100872, Peoples R China
[2] Univ Queensland, UQ Business Sch, St Lucia, Qld 4072, Australia
来源：
INTERNATIONAL BUSINESS REVIEW | 2022年 / 31卷 / 03期
基金：
中国国家自然科学基金;
关键词：
Secondary internationalisation; Behavioural theory of the firm; Multinational enterprise; Performance shortfall; Internationalisation process model; Outward foreign direct investment; INTERNATIONAL EXPANSION; INSTITUTIONAL DISTANCE; CULTURAL DISTANCE; BEHAVIORAL-THEORY; MODEL; FIRMS; ATTRIBUTION; COUNTRY; INNOVATIONS; ENTERPRISES;
D O I：
10.1016/j.ibusrev.2021.101952
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Foreign subsidiaries of multinational enterprises (MNEs) have been conducting outward foreign direct invest-ment (OFDI) into new overseas destinations. Drawing upon the behavioural theory of the firm, we explain that such OFDI can occur in response to performance shortfalls relative to aspirations. When performance shortfalls in subsidiaries are attributed to the institutional distance between them and the home country of the parent firm, these subsidiaries select institutionally closer destinations for their own OFDI. Our study goes beyond the direct investment of MNE headquarters and advances the internationalisation process model by investigating the underexplored, secondary and springboard-based internationalisation, and by underscoring the value of a sub-sidiary's OFDI behaviour.
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页数：12
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