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Internationalization and innovation performance of emerging market enterprises: The role of host-country institutional development |
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| Affiliation: | 1. Nottingham University Business School, University of Nottingham, Nottingham NG8 1BB, UK;2. School of International Economics & Business, Nanjing University of Finance & Economics, Nanjing 210046, China;3. School of Business, Renmin University of China, Beijing 100872, China;4. Leeds University Business School, University of Leeds, Leeds LS2 9JT, UK;5. Department of Marketing, City University of Hong Kong, Tat Chee Avenue, Kowloon, Hong Kong, China |
| Abstract: | We examine how host-country institutional development influences innovation performance of internationalized emerging market enterprises (EMEs). Our panel-data analysis of Chinese EMEs shows that although host-country institutional development on average enhances innovation performance of the parent, such effects are more pronounced for EMEs with strong absorptive capacity and for those diversifying into a larger number of countries. Interestingly, EMEs with a higher level of state ownership gain more when entering countries with a lower level of institutional development. Our findings offer insights regarding how latecomer EMEs should configure their portfolio of subsidiaries in order to enhance innovation performance of their parent. |
| Keywords: | Internationalization Innovation performance Institutional environment Absorptive capacity State ownership Geographic diversification |
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