Moderators on international diversification of advanced emerging market firms

Firms from advanced emerging markets are becoming notable players in the global marketplace. This study seeks to examine how these firms expand to international markets successfully. Drawing on R&D intensity and learning capability, this study finds that an s-shaped relationship exists between firm internationalization and performance. The results also show that R&D intensity and learning capability significantly strengthen the impact of internationalization on firm performance. These results imply that R&D intensity and learning capability are the main drivers of success for firms from advanced emerging markets in foreign markets.     

Subnational home market bias in Vietnam: Evidence from enterprise‐level data

This paper contributes to the home (market) bias literature where administrative or political borders limit trade across borders. Home bias is well documented at the national and subnational level. To sort out macro (e.g., location characteristics) and micro (e.g., enterprise characteristics) factors behind home bias, we use small and medium‐sized enterprise (SME) data from Vietnam. Using the fractional multinomial logit model, we find that the proportion of SME sales outside of their home markets is positively associated with enterprise size, age, number of business association memberships and the distance of SMEs' most important supplier. In contrast, the proportion of SME sales to neighbouring provinces is negatively associated with the share of SME production for final consumption. Besides enterprise‐level frictions, market characteristics matter too. The proportion of SME sales to customers in their home markets is negatively associated with home or neighbouring provinces' governance quality, while the proportion of sales to customers in neighbouring provinces is positively associated with these areas' governance quality. These suggest that good governance frees SME resources for use in selling to less familiar markets.     

Home country institutional environments and foreign expansion of emerging market firms

We propose that home country institutional environment shapes emerging market firms’ foreign expansion. We argue that better-developed home country institutional environment promotes emerging market firms’ expansion to foreign markets more advanced than the home country, while institutional instability in the home country reduces this propensity. We further hypothesize that the effects of home country institutional environment are contingent on firm-specific government ownership. Data on the foreign expansion of 921 Chinese firms in the period of 1996–2000 provide strong support for the effects of home country's institutional development and institutional instability. We also find that a high degree of government ownership weakens the positive effect of home country's institutional development on emerging market firms’ propensity to expansion to more advanced markets.     

Bank lending channel in a dual banking system: Why are Islamic banks so responsive?

We examine the interest rate sensitivity of both deposits and credits at Islamic and conventional banks in Turkey. We find that the bank lending channel is especially operative for Islamic banks. Impulse responses for conventional and Islamic banks reveal that Islamic bank depositors’ sensitivity to policy rate changes is substantially larger than that of conventional bank depositors. Next to heavily dependence on deposit funding, we consider that inertia in Islamic bank deposit rates impedes these banks to keep those depositors who consider the opportunity cost of monetary policy rates is unbearable. On the lending side, we obtain similar results, implying that tight monetary policy leads to a larger contraction in Islamic bank credits. This finding is a reflection of the favourable attitude of Islamic banks towards small and medium‐sized enterprise (SME) financing. When similar relationships are analysed for currency and inflation shocks, we again find larger responses for Islamic banks showing the cyclical nature of SME credits.     

Network complementaries in the international expansion of emerging market firms

Can domestic political capital be transferable to more or less similar institutional contexts abroad? Motivated by contradictory results in two streams of research, this study seeks to combine the insights from two theoretical arguments and conceptualize the role of domestic political ties in international expansion as a dual problem of securing key resources from home governments and looking for opportunities in foreign markets and matching resources to capture them. We adopt the notion of network complementarity to examine the complementarity effect of domestic political ties and foreign ties on international expansion. The implication is that EMNE research that concentrates on either looking for foreign opportunities or securing domestic resources, but not both, is likely to be incomplete when international expansion is being studied. Using a longitudinal panel dataset of Chinese international new ventures expanding to 105 foreign markets, we find a positive interactive effect of domestic political ties and foreign ties on Chinese MNEs’ internationalization. This positive interactive effect on internationalization is found to be stronger for expanding to developing host markets than to developed host markets. We discuss the implications of these findings for research on domestic political ties, the international expansion literature, the network complementarity literature, and the international entrepreneurship literature.     

Pro-market institutions and outward FDI of emerging market firms: An institutional arbitrage logic

We offer new theory and evidence regarding the effects of pro-market institutions on outward foreign direct investment (FDI) of emerging market firms (EMFs). Drawing on the logic of institutional arbitrage, we integrate the escapism and exploitation mechanisms of EMF internationalization into a unified theoretical context. We propose an inverted U-shaped relationship between host market-supporting institutions (MSI) and the investment scale of an EMF’s FDI project in the country, showing an escape-driven upward slope for low-to-medium MSI levels and an exploitation-driven downward slope for medium-to-high MSI levels. We supplement this main argument with two boundary conditions: the alleviating effect of home market liberalization (HML) and the strengthening effect of home government subsidies (HGS), demonstrating the coexistence and variation of pro- and anti- market institutions in an emerging market. Using information on 1,450 FDI projects conducted by 288 Chinese listed firms in 116 host countries, we obtain supportive evidence for the predicted relationships between the three institutional forces. This study enriches the literatures on institutional arbitrage and pro-market institutions with evidence from EMFs.     

簇群理论与中小企业跨国经营模式

簇群的理论和实践已引起广泛的关注。我国中小企业应借助簇群效应，选取适当的模式，从而克服自身的局限，涵养竞争优势，有效开展跨国经营活动。     

Mapping the impact of home‐ and host‐country institutions on human resource management in emerging market multinational companies: A conceptual framework

While there is a growing literature concerned with multinational companies from emerging markets (EMNCs), it does not contain a robust conception of how institutions shape human resource (HR) practices in such firms. We contribute to filling this gap through developing a framework of how institutions create a range of constraints and opportunities for EMNCs. Specifically, our framework contains three key elements of how MNCs from emerging markets interact with institutions: EMNCs develop approaches that to some extent reflect the perceived strengths and weaknesses of the institutions in the home country (institutional conditioning); the strategies of actors in EMNCs can overcome the weaknesses of the home country by drawing on institutions in other countries (institutional arbitrage); and the actions of EMNCs can reinforce, or create pressures for change in, the institutional context in the countries in which they operate (institutional change/consolidation). By mapping this set of strategies of EMNCs, we contribute to a fuller understanding of the relationship between institutions and HR practices, and we outline how the rise of EMNCs reshapes the global landscape by adding new kinds of firm behavior to capitalist diversity.     

Inheriting the DNA of emergingness: Strategies of advanced market firms under emerging market ownership

Despite growing concerns about emerging market firms (EMFs)' acquisitions in advanced markets, the influences of emerging market ownership on advanced market firms (AMFs) as targets remain largely underexplored. This study aims to conceptually advance our understanding of the environmental adaptation strategies of AMFs under emerging market ownership, focusing on the strategic implications of the “emergingness” encapsulated in the resource transfer from EMF acquirers to AMF targets. Drawing on the institution-based view and resource-based view, this conceptual piece develops an Institution-Resource-Strategy framework and proposes two types of strategies for AMFs under emerging market ownership, namely arbitrage and avoidance, each comprising three varying tactics. We illustrate our propositions using three cases of Japanese firms under Chinese ownership. This study adds to the literature on internationalizing EMFs, the institution-based view of global strategies, and cross-border mergers and acquisitions and offers managerial implications for emerging and advanced market stakeholders.     

我国中小企业发展电子商务的现状及对策研究

电子商务已成为21世纪知识经济发展的第一增长点,代表着经济发展的方向,是全球贸易发展的重要推动力量。中小企业是社会经济发展的主力军,是解决社会就业和经济创新的重要力量。中小企业规模小、灵活性高,与电子商务有天然的结合点,因而我国中小企业发展电子商务不仅是可行的也是必要的。     

网络经济条件下中小企业的管理创新

在开放平等的网络经济条件下,中小企业的传统经营管理模式必须进行创新。为此根据管理观念、组织结构、生产经营方式三个方面在网络经济条件下企业管理的特点,制定管理创新措施,并在进行管理创新过程中要注意几个相应问题。     

试论中小零售企业共同物流服务的难点与对策

中小零售企业在我国的零售业中占有重要地位,也越来越重视物流服务,共同物流服务是中小零售企业发展的客观需要,本文通过分析中小零售企业共同物流服务中面临的物流服务需求目标、物流服务运作管理、物流服务利益分享方面的难点,从共同物流服务理念的推广、各种资源的整合、共同物流服务企业的培养、利益分享机制的建立四个方面提出中小零售企业开展共同物流服务的对策。     

新经济形势下如何提升浙江省中小企业的国际竞争力

本文选取贸易专业化指数和显示性比较优势指数等指标,分别从商品结构、贸易方式和不同地区比较的角度对浙江中小企业的国际竞争力做了具体分析,并且阐述了浙江中小企业国际竞争的优劣势。面对当前人民币升值、原材料价格上涨等国内外新经济形势,本文从政府、行业和企业三方面就如何提升浙江中小企业的国际竞争力提出了相应对策和建议。     

中小企业基于电子商务的竞争策略研究

电子商务作为一种创新经济运行方式,为中小企业提供了一个新的发展契机。电子商务的应用对于企业提高市场竞争力起着至关重要的作用,中小企业应该充分认识电子商务的重要性,长远规划电子商务,努力实现企业流程再造,有效利用第三方服务平台和联盟优势提高中小企业电子商务综合竞争力。文章主要分析了我国现阶段中小企业实施电子商务存在的不足,并就其所遇到的困难给予相应的对策。     

Understanding cross‐border mergers and acquisitions of African firms: The role of dynamic capabilities in enabling competitiveness amidst contextual constraints

This article builds on existing international business literature that examines the drivers of cross‐border mergers and acquisitions (M&As) within emerging and developing economy contexts, theoretically exploring how dynamic capabilities (DCs) are connected to these drivers, and how African emerging multinational enterprises (EMNEs) can pursue them to achieve competitiveness. The article's contribution is the development of a DC framework and testable propositions for African EMNEs' cross‐border M&As. The theoretical framework shows the division of DC dimensions—sensing, seizing, and transforming—and establishes explanations for their linkage with institutional and resource drivers for African EMNEs' cross‐border M&A competitiveness. In addition, the article outlines managerial implications to this effect. Overall, the article contributes to the emerging literature on the international expansion of African EMNEs through cross‐border M&As by underscoring the role of DCs.     

中小物流企业共生系统运行模式研究

中小物流企业是我国物流产业中的主体,在日益开放的中国物流市场环境中,中小物流企业能否发展壮大、提高整体竞争力,是我国物流业快速成长的关键。利用企业共生理论对中小物流企业成长进行相关分析,阐释了中小物流企业共生系统的形成动因与运作模式,以期为中小物流企业的成长提供理论依据。     

Intellectual capital and innovativeness in software development firms: the moderating role of firm size

Abstract

We examine the effect of intellectual capital on firms’ innovativeness and the moderating role of firm size in software development firms in Kenya. Using moderated regression analysis, we found support for the proposition that human and social capital enhance firms’ innovativeness. We did not, however, find any significant effect of organizational capital on firms’ innovativeness. The results from the moderated regression suggest that the smaller the firm, the stronger the influence of intellectual capital on firms’ innovativeness. The results therefore indicate that human and social capital are critical in the innovation process and so firms that neglect these capitals are unlikely to realize the potential to innovate particularly in software development firms.     

The institutional context as a source of heterogeneity in family firm internationalization strategies: A comparison between U.S. and emerging market family firms

Existing research has underexplored the role of context as a source of heterogeneity in family firms’ (FFs) internationalization strategies. Drawing upon institutional theory, we develop and test a mid-range theory positing that differences in the quality of the institutional context can moderate the strength of the relationship between individual- and board-level attributes and FF internationalization. Our comparison of U.S. FFs with FFs from Brazil and Mexico reveals that in emerging market FFs, individual-level attributes such as CEO international experience, CEO educational attainment, and CEO international education exhibit a stronger relationship with internationalization. Similarly, we find that board-level attributes such as board size and board independence are also more strongly related to internationalization in emerging market contexts. We contribute to the literature by identifying a source of variation in FF internationalization strategies based on context and by examining the relationship between a wide range of FF attributes and internationalization.     

Consumer transactions with SMEs: implications for consumer scholars

Historically, the consumer movement has defined business as big business. This paper proposes that we shift the focus to consumer transactions with small‐ and medium‐sized enterprises (SMEs). After SMEs are defined, facts about the realities of SMEs are used as stepping stones to develop the idea that consumer interactions with SMEs are different than those with large firms and merit the attention of consumer scholars. Thirteen recommendations are tendered for future research including rethinking our traditional approach to consumer behaviour theory, consumer policy, and consumer movement theory.     

嵌入服务利润链的永康中小民营企业内部营销对策探究

我国民营经济在改革开放后发展迅速,同时也暴露出管理落后等问题,造成员工满意度和忠诚度较低,影响了企业的营销绩效。以永康中小民营企业为例,将内部营销理念导入制造行业,通过问卷调查和深度访谈分析目前永康中小民营企业存在的问题,据此在嵌入服务利润链模型的内部营销理论指导下,借助类似营销技术提出了在永康中小民营企业内实施内部营销活动的策略组合,以期提升员工满意度,最终提升企业营销绩效。