Exploring the role of government involvement in outward FDI from emerging economies

• 成果类型: Article
• 署名作者: Wang, Chengqi; Hong, Junjie; Kafouros, Mario; Wright, Mike
• 署名单位: University of Nottingham; University of International Business & Economics; University of Leeds; Imperial College London
• 刊物名称: JOURNAL OF INTERNATIONAL BUSINESS STUDIES
• ISSN/ISSBN: 0047-2506
• DOI: 10.1057/jibs.2012.18
• 发表日期: 2012
• 页码: 655-676
• 关键词: internationalization; emerging market enterprises; resource-based view; INSTITUTIONAL THEORY; government involvement

摘要

We explain the mechanisms through which government impacts the internationalization of emerging-market enterprises (EMEs). Rather than merely viewing internationalization as the result of differences in resource positions, we demonstrate that an important source of variation is the idiosyncratic manner in which EMEs are affiliated with government agencies. Although government involvement has a strong effect on international expansion, this effect is contingent upon the level at which the firm is affiliated with government and the degree of state ownership. Different types and levels of governments have different objectives, exert different institutional pressures on EMEs, and impact their willingness and ability to internationalize differently. Government involvement influences the level of overseas investment, its location (developed vs developing countries) and its type (resource-vs market-seeking). These effects depend on firms' own resources and capabilities, suggesting that not all firms possess equal ability to internalize government-related advantages and respond to institutional pressures. By demonstrating that resource-based and institutional constructs are highly dependent on one another, we enhance understanding of how EMEs succeed in expanding overseas, and why governments matter. Journal of International Business Studies (2012) 43, 655-676. doi:10.1057/jibs.2012.18