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作者：Hennart, Jean-Francois; Majocchi, Antonio; Forlani, Emanuele
作者单位：Tilburg University; University of Pavia; University of Bologna
摘要：The prevalent view among family-firm internationalization scholars is that family management discourages internationalization. This is because selling abroad is said to require more specialized managers and more resources than selling at home, and yet family firms are unwilling to recruit non-family managers with the required international skills and to dilute their control to obtain the necessary finance. We hypothesize that this argument overlooks the possibility that managers of family-mana...
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作者：Jin, Byungchae; Garcia, Francisco; Salomon, Robert
作者单位：Korea Advanced Institute of Science & Technology (KAIST); University of Oviedo; New York University
摘要：Extant research on inward foreign direct investment (FDI) suggests that foreign entrants bring superior technology with them to host countries, thereby providing local firms the opportunity to learn and upgrade their technologies. However, foreign entrants also increase competition in the local market, potentially harming domestic firms. In this study, we extend existing work on inward FDI by investigating the moderating role of technological capabilities on the relationship between inward FDI...
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作者：Bova, Francesco; Vance, Marshall
作者单位：University of Toronto; University of Southern California
摘要：We examine the impact of the cultural norm of uncertainty avoidance on employee stock option (ESO) exercise behavior using proprietary data from a multinational firm. We find that employees from countries with higher levels of uncertainty avoidance exercise their stock options earlier. These findings lend support to a maintained assumption in the ESO literature that employee attitudes toward uncertainty influence stock option exercise behaviors. Our findings further help to explain prior findi...
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作者：Eddleston, Kimberly A.; Sarathy, Ravi; Banalieva, Elitsa R.
作者单位：Northeastern University; Northeastern University
摘要：While prior research suggests that family firms are risk-averse with regards to internationalization, Hennart et al. (J Int Bus Stud, 2017) show that family firms selling high-quality niche products internationalize as much as their nonfamily-firm counterparts. Our Counterpoint extends Hennart et al.'s (2017) thesis by suggesting that this effect is not universal but depends on the external context (country-of-origin pro-market development) and internal context (professionalization practices)....
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作者：Cumming, Douglas; Zhang, Minjie
作者单位：State University System of Florida; Florida Atlantic University; University of Birmingham; University of Windsor
摘要：We document that the choice between disintermediated individual angel investments and intermediated private equity and venture capital investments depends on legal, economic, and cultural differences. We find evidence of this using PitchBook's comprehensive data on more than 5000 angel and 80,000 private equity and venture capital investments in 96 countries from 1977 to 2012. The data further indicate that investee firms funded by angels are less likely to successfully exit through either an ...
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作者：Arregle, Jean-Luc; Hitt, Michael A.; Mari, Isabelle
作者单位：emlyon business school; Texas A&M University System; Texas A&M University College Station; Mays Business School; Texas Christian University; Universite Catholique de Lille; EDHEC Business School
摘要：Hennart, Majocchi, and Forlani propose and validate a new explanation of family firms' internationalization heterogeneity shedding light on the role of a family firm's global niche business model. This type of family firm can avoid the dominant internationalization problems usually depicted in the literature on family firms' internationalization. Starting from the same diagnosis on extant research, we explore another perspective to explain this heterogeneity: the structure of the family instit...
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作者：Brandl, Kristin; Darendeli, Izzet; Mudambi, Ram
作者单位：University of Victoria; California State University System; California State University East Bay; Pennsylvania Commonwealth System of Higher Education (PCSHE); Temple University
摘要：International agreements and institutions affect innovation in developing countries. We analyze the impact of advanced country multinational enterprises (AMNEs) and supranational organizations on the regulatory adoption of global intellectual property protection standards. In particular, we investigate 60 developing countries that signed the Trade-relate Aspects of Intellectual Property Rights (TRIPS) agreement of the World Trade Organization in 1994. Our empirical findings show that a greater...
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作者：Lel, Ugur; Miller, Darius; Reisel, Natalia
作者单位：University System of Georgia; University of Georgia; Southern Methodist University; Fordham University
摘要：We investigate private firms' ability to identify and replace poorly performing managers across countries. We document three main findings. First, private firms are more likely to retain poorly performing managers in countries where legal institutions that protect minority investors are weak. Second, private firms are more likely to retain poorly performing managers than public firms only in countries where governance mechanisms inherent in public equity markets limit managerial entrenchment i...
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作者：Mariotti, Sergio; Marzano, Riccardo
作者单位：Polytechnic University of Milan; Sapienza University Rome
摘要：This article sheds light on how the internationalization of state-owned enterprises is influenced by the state involvement in ownership and by the home country's institutional settings. Integrating international business literature with the debate on the varieties of capitalism, we contend that state-dominated enterprises internationalize more (less) than privately owned enterprises in coordinated (liberal) market economies, whereas they exhibit an inconstant behavior in state-influenced marke...
