An integrative institutional approach to MNC performance in China

This study adopts an integrative approach that incorporates the resource-based view and institutional theory in its analyses of the performances of multinational corporations in China. Firm-specific resources have been assumed as a unique source of competitive advantages when firms go overseas. However, differences in institutional environments between the host country and the home country can negatively affect the competitiveness generated by resource exploitation. Empirical analysis using the data consisting of 209 Japanese firms operating in China finds that while the exploitation of firm-specific resources improves their performance, institutions in China moderate the positive impact on performance.     

Distance and divestment of Korean MNC affiliates: the moderating role of entry mode and experience

In this study, we examine the impact of cross-national distance on the divestment of foreign affiliates. On the basis of the nine dimensions of cross-national distance (Berry et al. 2010. “An Institutional Approach to Cross-National Distance.” Journal of International Business Studies 41 (9): 1460-1480), we empirically examine the impact of each measure of distance on the divestment of affiliates. Using a data set of 1697 multinational corporations (MNCs) headquartered in Korea and their 2435 affiliates in 67 host countries from 2000 to 2010, we find that distance created by economic, financial, political, administrative, cultural, demographic, knowledge and global connectedness leads to the divestment of foreign affiliates. We also find that the positive relationship between cross-national distance and affiliate divestment is likely to become stronger when an MNC enters the host country through a joint venture and weaker for affiliates with greater experience in the host country.     

Sustainability Issues in Transnational Education Service: A Conceptual Framework and Empirical Insights

ABSTRACT

Many transnational education (TNE) services have been operating successfully to export education. However, many other TNE programs and partnerships have also been terminated. TNEs' sustainability is under-researched; specifically, its sustainability from the contexts of strategic partnership considerations, all recognized TNE activities, and its sustainability indicators. This conceptual article analyzes literature on TNE partnership issues, the standardization-adaptation (StandAdapt) concept of international business strategy and sustainability issues, with an aim to establish an initial route to develop TNE services that would sustain business viability, centered on transnational market-specific conditions. The analysis suggests that there is a consistent interrelationship between different sustainability indicators and market orientation, which has implications for incorporating sustainability issues into TNE services and transnational strategies. An initial framework is proposed to develop TNE services in order to sustain TNE businesses. Some empirical insights are developed in support of this conceptual framework. Further research areas are discussed.     

Ethics,CSR, and Sustainability Education in the <Emphasis Type="Italic">Financial Times</Emphasis> Top 50 Global Business Schools: Baseline Data and Future Research Directions

This paper investigates how deans and directors at the top 50 global MBA programs (as rated by the Financial Times in their 2006 Global MBA rankings) respond to questions about the inclusion and coverage of the topics of ethics, corporate social responsibility, and sustainability at their respective institutions. This work purposely investigates each of the three topics separately. Our findings reveal that: (1) a majority of the schools require that one or more of these topics be covered in their MBA curriculum and one-third of the schools require coverage of all three topics as part of the MBA curriculum, (2) there is a trend toward the inclusion of sustainability-related courses, (3) there is a higher percentage of student interest in these topics (as measured by the presence of a Net Impact club) in the top 10 schools, and (4) several schools are teaching these topics using experiential learning and immersion techniques. We note a fivefold increase in the number of stand-alone ethics courses since a 1988 investigation on ethics, and we include other findings about institutional support of centers or special programs; as well as a discussion of integration, teaching techniques, and notable practices in relation to all three topics.     

Emerging market multinationals’ role in facilitating developed country multinationals’ regional expansion: A critical review of the literature and Turkish MNC examples

The recent expansion of emerging market multinationals into world markets has generated a rich literature. While this literature has addressed the potential motivations, behaviors, and strategic implications of these firms’ moves abroad, their possible role as facilitating agents in regional expansion has not been adequately explored. In this paper, we explore this question through a critical review of the literature and examples from Turkish multinationals. We also offer questions for future research.     

跨国公司在华业务整合研究

近年来，较早进入中国的一批跨国公司开始对其在华业务进行全面整合。本文首先提出了跨国公司在华业务整合的现象和问题，随之介绍了跨国公司在华业务整合的主要方式，最后对跨国公司在华业务整合的内涵进行了分析。     

中国东部沿海跨国公司投资效率比较研究

利用参数随机前沿生产函数研究了1995～2003年中国东部沿海10个省市跨国公司直接投资的技术效率,结果表明,在研究的样本期间,中国东部沿海省市跨国公司投资的技术效率有逐年下降的趋势,而且地区间跨国公司投资的技术效率差异也在逐年扩大,其中,长三角地区已经取代珠三角成为中国跨国公司投资技术效率最高的地区.跨国公司直接投资技术效率下降原因在于资本的过度深化与跨国公司直接投资技术溢出的不足,因此,制订合适的人力资源政策,加快直接投资的技术外溢是提高跨国公司投资技术效率的有效途经.     

生态足迹与区域生态适度人口——以西部12省市为例

一个区域生态适度人口的确定取决于区域生态承载力与区域人口对生态资源的需求.介绍了生态足迹模型的基本概念和计算方法,并运用该模型对中国西部12省、直辖市、自治区生态适度人口进行了估算.中国目前已经出现过度人口和生态赤字,但在较低社会经济发展水平和低消费的条件下,西部地区具有相对较小的人地矛盾,生态赤字较小,目前的人口规模基本可认为是合理的.随着西部开发的进程,西部省区正在并将持续面临严重的生态压力.     

新世纪跨国公司全球经营网络在中国发展的特征分析

中国加入WTO后,对外贸易呈现出崭新的面貌。跨国公司从投资力度和投资规模、投资化或控股运作形式,并购手段、区域总部进入、本土化进程等战略,有计划、有步骤地扩大在中国投资。在跨国公司进入的同时,我国应培育自己的跨国公司,以实现世界经济强国的目标。     

Business failure in an age of globalisation: Interpreting the rise and fall of the LG project in Wales, 1995–2006

Abstract

In 1996, the South Korean conglomerate LG announced a £1.67 billion investment in Wales to manufacture consumer electronics and semiconductors. The project was to be Europe’s largest inward investment project, and LG was offered the UK Government’s most generous grants. However, the semiconductor plant was built but never entered production, while the consumer electronics facility closed in stages up to 2006. This article responds to calls for a ‘new business history’ by using the ill-fated investment as a case study of business failure, arguing that narrow firm-specific factors do not fully explain LG’s failure in Wales. The article finds instead that analysis of distorted institutional environments in South Korea and Wales, linked to rent-seeking behaviour by LG, provides a fuller answer.     

Unravelling agency relations inside the MNC: The roles of socialization,goal conflicts and second principals in headquarters-subsidiary relationships

Prior research has advanced classical agency theory to account for various characteristics of headquarters (HQ)-subsidiary relations in the multinational corporation (MNC). In an attempt to contribute to this line of research, in this paper, we propose and test an agency model for HQ-subsidiary relations inside the MNC. Drawing on classical agency assumptions, we develop a baseline hypothesis that links informal controls (i.e., socialization), HQ-subsidiary goal conflicts, and the HQ’s use of formal controls (i.e., behavioral controls). We subsequently introduce an important boundary condition, which reflects subsidiaries’ internal agency relations with subsidiary CEOs as second principals. More specifically, we argue that the baseline relationship only holds under low levels of second principal power. To test our model, we employed a unique study design with three parallel surveys addressing the agents and the two principals involved in 131 agency relations within one MNC.     

生态伦理:企业营销优势凸显的内在机理剖析

市场经济也是一种道德伦理经济,企业营销必须在一定的伦理规范下才能顺利取得既定目标。随着生态文明的来临,生态脆弱性越来越严重,生态政策约束性越来越紧,消费者生态消费意识渐浓,生态产品与生态技术价值日益凸显,企业营销必须适应这种生态发展趋势,严格遵循相应的生态伦理,主动开展生态化营销,唯有如此,才能实现生态环境约束的内涵式突破,才能实现"天人合一"的有序发展,才能在公众面前树立良好的生态伦理形象,才能在市场竞争中得以优胜。     

生态伦理视角下的民族地区可持续发展研究

民族地区可持续发展是我国构建和谐社会的迫切要求,是国家生态文明建设和解决贫困问题与民族问题的需要。生态伦理观与民族地区的可持续发展具有内在一致性:生态伦理观为民族地区物质文化和精神文化发展提供借鉴;生态伦理的"公平原则"是实现民族地区可持续发展的首要原则;可持续发展观蕴涵和谐共生的生态伦理精神。我国民族地区应在坚持科学发展观的前提下,运用生态伦理理念构建经济可持续发展的运行机制,实现生态文明建设与经济持续和谐发展。     

The Impact of Communication on Conflict between Expatriate and Local Managers Working in NPD Projects of MNC Subsidiaries: A Local Perspective

This study investigates the impact of communication between expatriate and local managers on two types of conflict in subsidiaries of multinational companies (MNCs) engaged in new product development (NPD). The data was collected from 438 local NPD managers who regularly collaborate and communicate with expatriate managers. The findings suggest that the quality and bidirectionality of cross-cultural communication reduce relationship conflict but increase task-related conflict. In addition, a more formalized communication style increases both relationship conflict and task conflict. The findings hold implications for MNCs in that improvements to different communication dimensions are suggested.     

Rewriting the Bases of Capitalism: Reflexive Modernity and Ecological Sustainability as the Foundations of a New Normative Framework

The debate on sustainable globalized development rests on two clearly stated economic assumptions: that "development" proceeds, solely and inevitably, through industrialization and the proliferation of capital intensive high-technology, towards the creation of service sector economies; and that globalization, based on a neoliberal, capitalist, free market ideology, provides the only vehicle for such development. Sustainability, according to the proponents of globalized development, is merely a function of market forces, which will generate the solutions for all problems including the environmental dilemmas that loom over the globe today. The social focus of globalized development is clearly the "individual" and the much-touted goal of development in the context of these debates, is the emancipation of the individual from want. This glorification of the individual, so characteristic of the Enlightenment, has defined all aspects of modernity, leading to approaches that are self-focused and that give little thought to the needs of society or even the social context. The increasing impoverishment of human life and the growing environmental degradation, however, provide a poignant counterpoint to this onrush of capital interests, demanding a reassessment of sustainability separate from the logic of industrialization and globalized development. This paper examines the unfolding of the logic of capitalism, which underlies the structure of the Rostowian model of development and the problems in the assumptions underlying today's globalized development process. The evident impossibility of sustainability in the current growth-based market system leads to the examination of alternatives including a reflexive understanding of the choices and the inclusion of opportunity costs, related to the social, environmental and economic aspects of decision making. The integration of all factors of production into the logic of development provides a sustainable alternative to the current system.     

湖北固定资产投资可持续性研究

本文从固定资产投资的总量增长、结构优化、效益提升和影响因素几个方面对湖北固定资产投资可持续性问题进行分析。研究结果显示：投资对湖北经济增长的贡献率不断提高,而湖北投资总量增速相对较慢,且缺乏稳定性;投资结构不尽合理,投资的资金来源渠道相对较少,过多地依赖国家预算内资金,投资资金的投向结构与全国整体情况严重趋同,缺乏个性和特色;投资宏观经济效益递减的速度相对高于全国平均水平;政府财政支出增长率是影响湖北固定资产投资的最重要的因素,其次是工业化和城市化水平、经济增长率,利率对投资的影响并不明显。     

Strategy Review for Central and Eastern Europe: Strategic Responses of Foreign Multinational Corporations to the Recent Economic and Financial Crisis

The economies of Central and Eastern Europe were hit particularly badly by the global financial and economic crisis of 2008–2009. This raises the question of whether the severe economic downturn had any effect on the strategic orientation of foreign multinational corporations operating in Central and Eastern Europe. The purpose of the study is to contribute to the discussion of the effects of the recent crisis on strategies of multinational corporations. The crisis brought the successful economic catching-up process of the reforming countries over the previous decade to an abrupt halt, shattering the image of Central and Eastern Europe as a growth region. Multinational firms are now in the process of reviewing their original internationalization strategies for the region. The author argues that the business model that guided the expansion into Central and Eastern Europe still remains valid.     

可持续发展的生态足迹测度--以合肥为例

生态足迹是可持续发展定量测度的一种新方法 ,反映了人类利用自然的程度。本文在介绍生态足迹的概念及其计算方法的基础上 ,以安徽省合肥市的统计数据 ,计算分析了该地区2 0 0 1年的生态足迹 ,并讨论了其生态赤字产生的原因及可持续发展的应对措施。     

Corporate Ethical Identity as a Determinant of Firm Performance: A Test of the Mediating Role of Stakeholder Satisfaction

In this article, we empirically assess the impact of corporate ethical identity (CEI) on a firm’s financial performance. Drawing on formulations of normative and instrumental stakeholder theory, we argue that firms with a strong ethical identity achieve a greater degree of stakeholder satisfaction (SS), which, in turn, positively influences a firm’s financial performance. We analyze two dimensions of the CEI of firms: corporate revealed ethics and corporate applied ethics. Our results indicate that revealed ethics has informational worth and enhances shareholder value, whereas applied ethics has a positive impact through the improvement of SS. However, revealed ethics by itself (i.e. decoupled from ethical initiatives) is not sufficient to boost economic performance. Pascual Berrone is a PhD candidate of the Business Administration and Quantitative Methods Ph.D. program at the Universidad Carlos III de Madrid. His current research interests focus on business ethics, stakeholder theory, and various aspects of the interface between corporate governance mechanisms and corporate social responsibility. His interests also include ethical, environmental and social issues and their impact on firms' overall performance. Dr. Jordi Surroca is an Assistant Professor of Management at the Department of Business Administration at the Universidad Carlos III de Madrid. He holds a PhD in Business Administration and a Licentiate Degree in Business and Economics from Universitat Autònoma de Barcelona. His research interests center on stakeholder management, firm strategy, innovation, and corporate governance. Dr. Josep A. Tribó is Associate Professor of Finance in the Department of Business Administration at the Universidad Carlos III de Madrid. He has a PhD in Economic Analysis from the Universitat Autònoma de Barcelona and a Licenciate Degree in Theoretical Physics by Universitat de Barcelona. His research interests are Corporate Finance and the financing of R&D. His work has been published in journals such as Applied Economics, International Journal of Production Economics.     

The Spirit of Entrepreneurship and the Qualities of Moral Decision Making: Toward A Unifying Framework

At the heart of entrepreneurship are imagination, creativity, novelty, and sensitivity. It takes these qualities to develop a new product or service and bring it to market, to envision the possible impacts a new product may make and come up with novel and creative solutions to problems that may arise. These qualities go to make up what could be called the spirit of entrepreneurship, a spirit that involves the ability to handle the experimental nature of entrepreunerial activity. These same qualities are crucial for moral decision making, and an ethical approach which emphasizes imagination, creativity, and has an experimental thrust is much better adapted to the entrepreneurial activity and much more relevant to the unique situations that entrepreneurs face. In this sense, the process approach to ethics developed in this article is a unifying framework that brings together the activity of entrepreneurship and moral decision making.