|
|||||
|
|
Outward foreign direct investment from emerging economies: escaping home country regulative voids |
|
| Institution: | 1. Analytic Focus, LLC, San Antonio, USA;2. SolBridge International School of Business, South Korea;3. St. Mary''s University, San Antonio, USA;1. University of Bremen, Germany;2. Copenhagen Business School, Denmark;3. Friedrich-Schiller-University, Germany;4. University of Southern Denmark, Denmark;1. School of East Asia Studies, University of Sheffield, 6-8 Shearwood Road, Sheffield S10 2TD, United Kingdom;2. Henley Business School, International Business and Strategy, University of Reading, Whiteknights Campus, Reading RG6 6AH, United Kingdom;1. Centre for International Business (CIBUL), Leeds University Business School, University of Leeds, UK;2. Department of International Business Studies, National Chi Nan University, Taiwan;1. School of International Business, Southwestern University of Finance and Economics, 555 Liutai Rd, Wenjiang, Chengdu, Sichuan 611130, China;2. Department of Management, Birkbeck College, University of London, Malet Street, Bloomsbury, London WC1E 7HX, United Kingdom;3. China Center for Economic Research (CCER), Peking University, 5 Yiheyuan Rd, Haidian, Beijing 100871, China |
| Abstract: | The internationalisation of multinationals from emerging economies raises the question of whether mainstream theory can explain this phenomenon. We combine the explanations of outward foreign direct investment (OFDI) provided by the institution-based view and the investment development path (IDP) and suggest that the combined use of these explanations contributes to the reconciliation of the mainstream and emerging views of internationalisation. We argue that although OFDI is undertaken by firms to overcome the competitive disadvantages resulting from home country regulative voids, escapist investment is facilitated if these firms possess certain competitive advantages that help them overcome the liability of foreignness when expanding abroad. We thus expect the impact of regulative voids on OFDI to vary with the level of local firms’ ownership advantages. Our analysis of OFDI flows from 29 emerging economies over 17 years (1995–2011) provides support for the direct effects of two types of regulative voids and for the three suggested moderating effects of firms’ competitive advantages. |
| Keywords: | Outward foreign direct investment Emerging economies Institutional voids Mainstream theory Emerging view of internationalisation Institution-based view |
| 本文献已被 ScienceDirect 等数据库收录！ | |