The spirit of the times: historical conditions and market-seeking FDI strategies by US alcohol firms
成果类型：
Article; Early Access
署名作者：
Chen, Xuchang; Maksimov, Vladislav; Mathias, Blake Dustin; Wang, Stephanie Lu
署名单位：
University of Reading; University of North Carolina; University of North Carolina Greensboro; Indiana University System; IU Kelley School of Business; Indiana University Bloomington
刊物名称：
JOURNAL OF INTERNATIONAL BUSINESS STUDIES
ISSN/ISSBN：
0047-2506
DOI：
10.1057/s41267-025-00773-3
发表日期：
2025
关键词：
Imprinting
Founding conditions
Extreme historical experiences
Market-seeking FDI
Unrelated diversification
US alcohol industry
摘要：
Market-seeking foreign direct investment (FDI) remains central for firms to expand their global presence and seize opportunities abroad. However, existing research often focuses on immediate or near-term drivers related to firms' market-seeking FDI strategies, and thus neglects the valuable insights a historical perspective can provide. To address this gap, we draw insights from imprinting theory and propose a framework theorizing the dual-layered imprinting of historical conditions stemming from both extreme historical experiences and founding conditions. Using the U.S. alcohol industry as a research context, we employ a mixed-methods approach, integrating quantitative and qualitative techniques. Our findings reveal that firms' experiences during extreme anti-alcohol conditions, such as Prohibition, positively correlate with regulation-driven market-seeking FDI, while firms founded in more pro-alcohol periods prioritize speed-driven market-seeking FDI. Moreover, we identify how unrelated diversification, a strategy consistent with the anti-alcohol imprint but inconsistent with the pro-alcohol imprint, affects the relationship between historical imprints and FDI strategies through imprint amplification or decay. Our qualitative analyses elucidate the role of founders' and leaders' strategic decision-making in reinforcing the mechanisms through which historical conditions shape FDI strategy. This longitudinal framework provides insights into imprint formation, transmission, and manifestation, accounting for contextual variations and implications for FDI strategy. Les investissements directs & eacute;trangers (Foreign Direct Investment - FDI) & agrave; la recherche de march & eacute;s restent essentiels pour permettre aux entreprises d'& eacute;tendre leur pr & eacute;sence mondiale et de saisir des opportunit & eacute;s & agrave; l'& eacute;tranger. N & eacute;anmoins, les recherches existantes se concentrent souvent sur les facteurs imm & eacute;diats ou & agrave; court terme li & eacute;s aux strat & eacute;gies de FDI & agrave; la recherche de march & eacute;s des entreprises, et n & eacute;gligent en cons & eacute;quence les renseignements pr & eacute;cieux qu'une perspective historique peut apporter. Pour combler cette lacune, nous nous appuyons sur la th & eacute;orie de l'empreinte, et proposons un cadre th & eacute;orisant l'empreinte & agrave; double niveau des conditions historiques d & eacute;coulant & agrave; la fois d'exp & eacute;riences historiques extr & ecirc;mes et de conditions fondatrices. En utilisant l'industrie am & eacute;ricaine de l'alcool comme contexte de recherche, nous employons une approche mixte, int & eacute;grant des techniques quantitatives et qualitatives. Nos r & eacute;sultats r & eacute;v & egrave;lent que les exp & eacute;riences des entreprises dans des conditions extr & ecirc;mes de lutte contre l'alcoolisme, telles que la Prohibition, sont positivement corr & eacute;l & eacute;es avec les FDI & agrave; la recherche de march & eacute;s motiv & eacute;s par la r & eacute;glementation, tandis que les entreprises fond & eacute;es dans des p & eacute;riodes plus favorables & agrave; l'alcoolisme donnent la priorit & eacute; aux FDI & agrave; la recherche de march & eacute; ax & eacute;s sur la rapidit & eacute;. De plus, nous identifions comment la diversification non li & eacute;e, une strat & eacute;gie coh & eacute;rente avec l'empreinte anti-alcool mais incompatible avec l'empreinte pro-alcool, influence la relation entre les empreintes historiques et les strat & eacute;gies de FDI par le biais de l'amplification ou de la diminution de l'empreinte. Nos analyses qualitatives & eacute;lucident le r & ocirc;le des d & eacute;cisions strat & eacute;giques des fondateurs et des dirigeants dans le renforcement des m & eacute;canismes par lesquels les conditions historiques fa & ccedil;onnent la strat & eacute;gie de FDI. Ce cadre longitudinal permet de mieux comprendre la formation, la transmission et la manifestation de l'empreinte, en tenant compte des variations contextuelles et des implications pour la strat & eacute;gie de FDI. La inversi & oacute;n extranjera directa (IED) orientada a la b & uacute;squeda de mercados sigue siendo fundamental para que las empresas expandan su presencia global y aprovechen oportunidades en el extranjero. Sin embargo, la investigaci & oacute;n existente a menudo se centra en los factores inmediatos o a corto plazo relacionados con las estrategias de inversi & oacute;n extranjera directa de b & uacute;squeda de mercados de las empresas, y por lo tanto descuida las valiosas perspectivas que puede proporcionar un enfoque hist & oacute;rico. Para abordar esta brecha, extraemos ideas de la teor & iacute;a de la impronta y proponemos un marco que teoriza la impronta de doble capa de las condiciones hist & oacute;ricas derivadas tanto de experiencias hist & oacute;ricas extremas como de las condiciones de fundaci & oacute;n. Utilizando la industria estadounidense del alcohol como contexto de investigaci & oacute;n, empleamos un enfoque de m & eacute;todos mixtos, integrando t & eacute;cnicas cuantitativas y cualitativas. Nuestros hallazgos revelan que las experiencias de las empresas durante condiciones extremas anti-alcohol, como la Prohibici & oacute;n, se correlacionan positivamente con la inversi & oacute;n extranjera directa de b & uacute;squeda de mercados impulsada por la regulaci & oacute;n, mientras que las empresas fundadas en per & iacute;odos m & aacute;s pro-alcohol priorizan la inversi & oacute;n extranjera directa de b & uacute;squeda de mercados impulsada por la velocidad. Adem & aacute;s, identificamos c & oacute;mo la diversificaci & oacute;n no relacionada, una estrategia consistente con la impronta anti-alcohol pero inconsistente con la impronta pro-alcohol, afecta la relaci & oacute;n entre las improntas hist & oacute;ricas y las estrategias de inversi & oacute;n extranjera directa a trav & eacute;s de la amplificaci & oacute;n o degradaci & oacute;n de la impronta. Nuestros an & aacute;lisis cualitativos elucidan el papel de la toma de decisiones estrat & eacute;gicas de fundadores y l & iacute;deres en el refuerzo de los mecanismos a trav & eacute;s de los cuales las condiciones hist & oacute;ricas moldean la estrategia de inversi & oacute;n extranjera directa. Este marco longitudinal proporciona perspectivas sobre la formaci & oacute;n, transmisi & oacute;n y manifestaci & oacute;n de la impronta, considerando las variaciones contextuales y las implicaciones para la estrategia de inversi & oacute;n extranjera directa. Investimentos estrangeiros diretos (FDI) buscando mercado permanecem centrais para que empresas ampliem sua presen & ccedil;a global e aproveitem oportunidades no exterior. No entanto, a pesquisa existente frequentemente se concentra em fatores imediatos ou de curto prazo relacionados a estrat & eacute;gias de FDI buscando mercado, negligenciando, assim, os valiosos insights que uma perspectiva hist & oacute;rica pode fornecer. Para abordar essa lacuna, recorremos & agrave; teoria do imprinting e propomos um modelo que teoriza o imprinting em duas camadas, considerando condi & ccedil;& otilde;es hist & oacute;ricas derivadas tanto de experi & ecirc;ncias hist & oacute;ricas extremas quanto de condi & ccedil;& otilde;es de implanta & ccedil;& atilde;o. Com base na ind & uacute;stria de bebidas alco & oacute;licas dos Estados Unidos como contexto de pesquisa, empregamos uma abordagem de m & eacute;todos mistos, integrando t & eacute;cnicas quantitativas e qualitativas. Nossas descobertas revelam que experi & ecirc;ncias de empresas durante condi & ccedil;& otilde;es extremas contra o consumo de & aacute;lcool, como a Lei Seca, correlacionam-se positivamente com FDI buscando mercado motivado por regula & ccedil;& otilde;es, enquanto empresas fundadas em per & iacute;odos mais favor & aacute;veis ao consumo de & aacute;lcool priorizam FDI buscando mercado baseado na rapidez. Al & eacute;m disso, identificamos como a diversifica & ccedil;& atilde;o n & atilde;o relacionada, uma estrat & eacute;gia consistente com o imprinting anti & aacute;lcool, mas inconsistente com o imprinting pro & aacute;lcool, afeta a rela & ccedil;& atilde;o entre imprintings hist & oacute;ricos e estrat & eacute;gias de FDI por meio da amplifica & ccedil;& atilde;o ou decad & ecirc;ncia do imprinting. Nossas an & aacute;lises qualitativas elucidam o papel do processo decis & oacute;rio estrat & eacute;gico de fundadores e l & iacute;deres para refor & ccedil;ar os mecanismos pelos quais as condi & ccedil;& otilde;es hist & oacute;ricas moldam a estrat & eacute;gia de FDI. Esse modelo longitudinal oferece insights sobre a forma & ccedil;& atilde;o, transmiss & atilde;o e manifesta & ccedil;& atilde;o do imprinting, considerando varia & ccedil;& otilde;es contextuais e implica & ccedil;& otilde;es para a estrat & eacute;gia de FDI. (sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic) (FDI) (sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic).(sic)(sic), (sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic) FDI (sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic), (sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic).(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic), (sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic), (sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic).(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic).(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic), (sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic), (sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic).(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic), (sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic), (sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic).(sic)(sic), (sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic) FDI (sic)(sic)(sic)(sic)(sic)(sic)(sic).(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic) FDI (sic)(sic)(sic)(sic)(sic)(sic)(sic).(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic),(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic), (sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic) FDI (sic)(sic)(sic)(sic)(sic).