Does market-oriented institutional change in an emerging economy make business-group-affiliated multinationals perform better? An institution-based view

Kim, Hicheon; Kim, Heechun; Hoskisson, Robert E.

doi:10.1057/jibs.2010.17

Cited by 233 publications

(188 citation statements)

References 87 publications

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“…These two perspectives have been found to be highly insightful when probing into firm strategy and behavior in EE (Ahuja & Yayavaram, 2011;Hoskisson et al, 2013;Kim, Kim, & Hoskisson, 2010;Meyer et al, 2009;Peng et al, 2009;Wright et al, 2005). This article leverages and extends these two perspectives in a new context-cross-listing-with a focus on the product and geographic scope of the firm.…”

Section: Introductionmentioning

confidence: 94%

“…Treating institutions as independent variables, the institution-based view "focuses on the dynamic interaction between institutions and organizations and considers strategic choices as the outcome of such an interaction" (Peng et al, 2009: 66; see also Ahuja & Yayavaram, 2011;Holmes et al, 2012;Kim et al, 2010;Van Essen et al, 2012). As a strategic choice, cross-listing can be viewed as the outcome of such an interaction.…”

Section: An Institution-based View On Cross-listingmentioning

confidence: 99%

“…Second, we contribute to the management and IB literature, especially the institution-based view (Ahuja & Yayavaram, 2010;Holmes et al, 2010;Kim et al, 2010;Peng et al, 2009). Peng et al (2005) define institutional relatedness as "the degree of informal embeddedness or interconnectedness with dominant institutions."…”

Section: Contributionsmentioning

confidence: 99%

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Cross-listing and the scope of the firm

Peng¹,

Su²

2014

Journal of World Business

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Abstract"What determines the scope of the firm?" is one of the most fundamental questions in strategic management and international business. Yet no previous research has investigated the relationship between the scope of the firm and cross-listing-a firm listing its stock on overseas exchanges. We leverage the resource-based and institution-based views with a focus on cross-listed firms from emerging economies. We predict that cross-listing may result in a narrower product scope in the short run, a wider product scope in the long run, an expanded geographic scope overall, and a higher propensity to engage in mergers and acquisitions in the host country.

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Section: Introductionmentioning

confidence: 94%

Section: An Institution-based View On Cross-listingmentioning

confidence: 99%

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Cross-listing and the scope of the firm

Peng¹,

Su²

2014

Journal of World Business

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“…Business groups control key information and resources related to such decisions through superior internal markets that can ''mimic'' developed external institutions (Khanna & Palepu, 2000). Acquiring firms affiliated with such groups are in a position to take advantage of these internal markets (Kim, Kim, & Hoskisson, 2010;Manikandan & Ramachandran, 2015;Chang & Hong, 2000;Elango & Pattniak, 2007;Fisman & Khanna, 2004;Makhija, 2004). Thus such firms are unaffected by less developed external capital markets.…”

Section: Contributions To the Special Issuementioning

confidence: 99%

International business responses to institutional voids

et al. 2017

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For nearly two decades, scholars in international business and management have explored the implications of institutional voids for firm strategy and structure. Although institutional voids offer both opportunities and challenges, they have largely been associated with firms' efforts to avoid or mitigate institutional deficiencies and reduce the transaction costs associated with operating in settings subject to those institutional shortcomings. The goal of this special issue is to advance scholarship on this topic by (a) exploring institutional voids that are new to the literature, (b) providing a deeper assessment of the different ways in which firms respond to these voids, and (c) utilizing diverse disciplines and theoretical approaches to do so. In this introduction, we first review and synthesize extant research on institutional voids, tracking the evolution of institutional void scholarship since the inception of the concept (Khanna & Palepu, Journal of Economic Literature, 45(2):331-372, 1997) and providing our perspective on its contributions and limitations. We then summarize the contributions of the articles included in this special issue. In addition to identifying an array of institutional voids -economic and social -the articles highlight four different strategies for responding to them: internalization, substitution, borrowing and signaling. Drawing on these, we develop new insights on the implications of institutional voids for firm behavior. We conclude with suggestions for future research.

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“…Second, previous studies show that host-country institutions can be a source of competitive advantage for international ventures (Kim & Hoskisson, 2010), enabling firms to outperform competitors that remain at home. However, we argue that as firms differ in their abilities to internalize and benefit from host-country institutional advantages, only EMEs that possess stronger absorptive capacity can reap such institutional benefits and enhance their innovation performance.…”

Section: Introductionmentioning

confidence: 99%

Internationalization and innovation performance of emerging market enterprises: The role of host-country institutional development

Wang

Jiang

et al. 2016

Journal of World Business

250

152

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We examine how host-country institutional development influences innovation performance of internationalized emerging market enterprises (EMEs). Our panel-data analysis of Chinese EMEs shows that although host-country institutional development on average enhances innovation performance of the parent, such effects are more pronounced for EMEs with strong absorptive capacity and for those diversifying into a larger number of countries. Interestingly, EMEs with a higher level of state ownership gain more when entering countries with a lower level of institutional development. Our findings offer insights regarding how latecomer EMEs should configure their portfolio of subsidiaries in order to enhance innovation performance of their parent.

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Does market-oriented institutional change in an emerging economy make business-group-affiliated multinationals perform better? An institution-based view

Cited by 233 publications

References 87 publications

Cross-listing and the scope of the firm

Cross-listing and the scope of the firm

International business responses to institutional voids

Internationalization and innovation performance of emerging market enterprises: The role of host-country institutional development

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