FIRM-SPECIFIC ASSETS, MULTINATIONALITY, AND FINANCIAL PERFORMANCE: A META-ANALYTIC REVIEW AND THEORETICAL INTEGRATION

• 成果类型: Review
• 署名作者: Kirca, Ahmet H.; Hult, G. Tomas M.; Roth, Kendall; Cavusgil, S. Tamer; Perryy, Morys Z.; Akdeniz, M. Billur; Deligonul, Seyda Z.; Mena, Jeannette A.; Pollitte, Wesley A.; Hoppner, Jessica J.; Miller, Joseph C.; White, Ryan C.
• 署名单位: Michigan State University; University of South Carolina System; University of South Carolina Columbia; University System of Georgia; Georgia State University; University System Of New Hampshire; University of New Hampshire; Saint John Fisher University; University of Mississippi; University of Southern Mississippi; George Mason University; Rochester Institute of Technology
• 刊物名称: ACADEMY OF MANAGEMENT JOURNAL
• ISSN/ISSBN: 0001-4273
• DOI: 10.5465/AMJ.2011.59215090
• 发表日期: 2011
• 页码: 47-72
• 关键词: international diversification; PRODUCT DIVERSIFICATION; corporate diversification; EVOLUTIONARY-THEORY; GEOGRAPHIC SCOPE; MEDIATING ROLE; Market entry; KNOWLEDGE; enterprise; diversity

摘要

Through a meta-analysis of 120 independent samples reported in 111 studies, we test the predictions of internalization theory in the context of the multinationality-performance relationship. Findings indicate that multinationality provides an efficient organizational form that enables firms to transfer their firm-specific assets to generate higher returns in international markets. In addition, the results delineate the conditions under which firm-specific assets have the strongest impact on the multinationality-performance relationship. Meta-analytic evidence also suggests that multinationality has intrinsic value above and beyond the intangible assets that firms possess, given analyses controlling for firms' international experience, age, size, and product diversification.