Institutions,resources, and internationalization of emerging economy firms |
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| Institution: | 1. Department of Management and Global Business, Rutgers Business School, Newark and New Brunswick, 1 Washington Park, Newark, NJ 07102, USA;2. Discipline of International Business, University of Sydney, H03 Institute Building, Sydney, NSW 2006, Australia;3. Department of Management, School of Business, Rutgers University – Camden, Camden, NJ 08102, USA;1. Lally School of Management, Rensselaer Polytechnic Institute (RPI), 110 Eighth Street, Troy, NY 12180, USA;2. D’Amore-McKim School of Business, Northeastern University, 360 Huntington Avenue, 315C Hayden Hall, Boston, MA 02115, USA;1. The University of Akron, Department of Management, College of Business Administration, 259 South Broadway, Akron, OH 44325, United States;2. Lehigh University, Department of Management, College of Business and Economics, 621 Taylor Street, Bethlehem, PA 18015, United States;1. Department of Management, School of Business, Rutgers University, Camden NJ 08102, USA;2. Department of Business Policy, National University of Singapore, Singapore 117592, Singapore;1. Henry W. Bloch School of Management, University of Missouri - Kansas City, 5110 Cherry Street, Kansas City, MO 64110, United States;2. Jindal School of Management, University of Texas at Dallas, 800 West Campbell, SM 43, Richardson, TX 75080, United States;3. College of Business, Florida State University, Tallahassee, FL 32306, United States;4. School of Business, Hong Kong Baptist University, Kowloon, Hong Kong |
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| Abstract: | An important step in the internationalization process of emerging economy firms is the shift from exports to foreign direct investment (FDI). We integrate the resource- and institution-based views to suggest that firms that can use unique institutional advantages are more likely to make this shift. We test these arguments with a longitudinal sample of 28,563 firm-year observations (1989–2005). We found that firms that are affiliated with a business group, have more firm- and group-level international experience, have more technological and marketing resources, and operate in service industries are more likely to shift from exports to FDI. |
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| Keywords: | Emerging economy firms Exports FDI Internationalization process Resource based view Institutional theory |
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