The MNE as a portfolio: Interdependencies in MNE growth trajectory

• 成果类型: Article
• 署名作者: Nachum, Lilach; Song, Sangyoung
• 署名单位: City University of New York (CUNY) System; Baruch College (CUNY)
• 刊物名称: JOURNAL OF INTERNATIONAL BUSINESS STUDIES
• ISSN/ISSBN: 0047-2506
• DOI: 10.1057/jibs.2010.60
• 发表日期: 2011
• 页码: 381-405
• 关键词: location portfolio; MNE location choices; hazards model; Path dependence; international corporate expansion; legal services MNEs

摘要

We conceptualize the MNE as a portfolio of interdependent sub-units, and examine its growth trajectory in relation to its existing portfolio. The empirical testing is based on a unique dataset that details all the location moves of US legal services MNEs during 1949-2006. These MNEs evolve in directions that follow from their past. Their portfolios affect their subsequent moves, speaking for the impact of interdependencies among sub-units on the evolution of MNEs. The portfolio exercises stronger impact on entry than on exit, suggesting that different forces affect MNEs' expansion and contraction. We outline strategic and organizational implications of the conceptualization of the MNE as a portfolio. Journal of International Business Studies (2011) 42, 381-405. doi:10.1057/jibs.2010.60