Explaining the effect of rapid internationalization on horizontal foreign divestment in the retail sector: An extended Penrosean perspective

• 成果类型: Article
• 署名作者: Mohr, Alex; Batsakis, Georgios; Stone, Zita
• 署名单位: Vienna University of Economics & Business; American College of Greece; University of Kent; Brunel University
• 刊物名称: JOURNAL OF INTERNATIONAL BUSINESS STUDIES
• ISSN/ISSBN: 0047-2506
• DOI: 10.1057/s41267-017-0138-0
• 发表日期: 2018
• 页码: 779-808
• 关键词: Foreign divestment; managerial resources; penrose effect; regional strategy theory; internationalization speed; retailers

摘要

We adopt a Penrosean perspective to study the effect of rapid international expansion on the subsequent divestment of international operations. We draw on regional strategy theory and differentiate Penrosean managerial resources by their geographical fungibility to argue that the effect of rapid international expansion on the divestment of international operations varies with the regional patterns of firms' international expansion and international experience. We test our hypotheses using two-stage least squares (2SLS) estimation on data that capture the international expansion and divestment of retailers over the period 2003-2012.