Hong Kong: Inevitably irrelevant to China?

The protests in Hong Kong that took place in 2019 and are still ongoing in 2020 have attracted worldwide attention. This article presents an analysis of the relationship between Hong Kong and Mainland China through a number of different lenses, including past economic relations in financing, trade, capital flow, and renminbi (the Chinese currency) internationalisation, future economic relations against the background of China's growth model transition and global investment environment, and future political relations against the background of the China model under the leadership of President Xi Jinping. This article finds that Hong Kong has in the past mattered to Mainland China, may in the present matter to Mainland China to some extent, but in future may matter less or become irrelevant.     

Ready to export? The role of export readiness for superior export performance of small and medium-sized enterprises

Drawing on the entrepreneurship perspective and the network-based view on internationalisation, this exploratory study contributes to our understanding of why some exporters succeed while others do not, through an empirical examination of export readiness factors. The paper provides an operationalisation of export readiness for small and medium-sized enterprises (SMEs). Based on a sample of 96 New Zealand SMEs, we find that export readiness is a complex construct involving finance, trade and exchange, and marketing. The study provides evidence that internal export stimuli are important antecedents of export readiness, while factors traditionally assumed to be critical to export success, such as importing and pre-export domestic expansion, may not be prerequisites to being export-ready. Finally, the study examines the link between export readiness and subsequent, initial export performance and finds a strong, positive relationship. Our study contributes to the export literature by providing a deeper and more integrated understanding of the antecedents of export readiness in a small, open economy, and its implications for subsequent export performance.     

Toward A New Model For Firm Internationalization: Conservative,Predictable, and Pacemaker Companies and Markets

Through this article we develop a new model for the internationalization of firms, called the Conservative, Predictable and Pacemaker (CPP) model, for extending research in the domain of international business. The main purpose is to provide a new typology that can be used as a theoretical lens for future research and to motivate researchers to think beyond the established models, which are repeatedly used in many studies. This article is based on primary data collected from firms in the information technology sector in Puerto Rico. The CPP model may be useful for industry analysis and research dealing with the growth and internationalization of firms across industries and countries. © 2018 ASAC. Published by John Wiley & Sons, Ltd.     

Internationalisation of Chinese banks and financial institutions and its implications for IHRM

Abstract

In this special issue (SI), we aim to advance the theoretical and empirical knowledge of emerging market service firms by analysing some of the key IHRM implications of the internationalisation of Chinese banks and financial institutions (BFIs). The selected articles in this SI provide rich insight into the human resource management (HRM) challenges these firms face when they establish operations in overseas markets and draws attention to trends and developments which challenge the way HRM has been understood in Chinese multinational enterprises (MNEs). The articles address the importance of Chinese BFIs relationship with the state and the influence of political ties in the formation of management leadership styles and managerial mindset. Included, as part of our contribution to this SI, is an analysis of a major Chinese bank’s subsidiary operation highlighting its human resources practices, adaptation strategies and relationship with its head office.     

The glass ceiling in context: the influence of CEO gender,recruitment practices and firm internationalisation on the representation of women in management

This study examines macro‐level organisational determinants of women in management. Specifically, we examined organisational characteristics and strategies, including firm levels of internationalisation, firm foreign ownership, chief executive officer gender and the active recruitment of women, as predictors of an organisation's level of representation of women in management. Results from a survey of 278 firms indicated that the presence of a female chief executive officer and an organisation's active recruitment of women are positively associated with a firm's percentage of women in management while firm internationalisation and firm foreign ownership are negatively associated with the representation of women in management. Overall, these findings suggest that although firms exercise discretion with respect to hiring and promoting women, they are also constrained by the external environment and organisational characteristics. For example, firms with higher levels of firm internationalisation and that are foreign‐owned may limit their efforts and investment in the advancement of women into management.     

The color revolution

Our text does not intend to develop a history of French banks' Europeanisation, but instead to scrutinise the mentalities of French bankers, in order to determine whether they were confined to relationships with French business or embedded within networks of personal relations with their European colleagues. Did some French bankers follow a career more oriented\ towards international activities and were they involved in international travels? Were some bankers committed to designing European strategies and thereafter to implement them through a direct presence in those foreign countries? Did some bankers emerge as key managers of Europeanised strategies and what was their influence within their banking firms? Of course, answers will be relevant to the chronological stages, to assess, for example, whether the decline of the Haute Banque houses was unfavourable to Europeanisation, to analyse how the new joint stock banks adopted a Europeanised business model, and whether deposits banks and investment banks (banques d'affaires) reacted differently in response to Europeanised strategies and a new way of life.     

Rigidity in SME export commencement decisions

In an increasingly globalised world, firms generally have become more internationalised utilising a range of different modes of operation. In the case of small-medium sized enterprises (SMEs), exporting is the favoured mode of international market entry, at least in the early stages of internationalisation, and many governments have supported SME exports through export promotion policies because of the importance of SMEs in employment creation. However, in spite of this policy focus, in most countries, the proportional involvement of SMEs in exporting remains low, which raises an important question as to what factors are inhibiting firms that are successful domestically from exporting. In addressing this question, much scholarly research has focused on the broad concept of ‘export barriers’. These barriers, for example, tariffs, quotas and administrative obstacles, are seen as a primary source of export reluctance. This paper takes a different approach to previous studies and proposes that a firm's resistance to exporting can be better understood through an analysis of the behavioural decision process of firms in line with the Uppsala internationalisation model. We propose ‘lateral rigidity’, first introduced in the literature in the 1970s, as an important concept in export commencement. By applying factor analysis to a survey of Australian SMEs, we provide a measurement model for lateral rigidity, revealing its important factors and thus strengthening understanding of firms' export commencement decisions. We conclude by drawing implications for internationalisation theory, practice and public policy and suggesting ways to extend this work through future research.     

Barriers to Internationalisation: A Study of Entrepreneurial New Ventures in New Zealand

This paper presents the findings of a study of the perceptions of the barriers to internationalisation by 561 New Zealand Entrepreneurial New Ventures (ENVs). Significant differences in the perception of the barriers are identified according to the level of international activity of New Zealand ENVs. Exporters and likely exporters consider the main barriers to internationalisation to be finance and cost-related factors. A lack of New Zealand government incentives are also seen to be major barriers for these two groups with likely exporters also perceiving their lack of international experience to be a hindrance. By comparison non-exporters perceive firm size to be the biggest barrier to internationalisation followed by a lack of market knowledge and experience. Industry was found to have no influence on the perception of barriers to internationalisation, however, firm size does have an impact.     

Towards an Integrative Model of Small Firm Internationalisation

Firm internationalisation has long been regarded as an incremental process, wherein firms gravitate towards psychologically close markets and increase commitment to international markets in a gradual, step-wise, manner through a series of evolutionary stages. However, much of the recent literature provides clear evidence of rapid and dedicated internationalisation by born global firms. Typically, these are smaller entrepreneurial firms that internationalise from inception, or start to shortly thereafter. Their main source of competitive advantage is often related to a more sophisticated knowledge base. In addition, the authors have found evidence of firms supporting this born global pattern of behaviour but also evidence of firms that suddenly internationalise after a long period of focusing on the domestic market. These born-again globals appear to be influenced by critical events that provide them with additional human or financial resources, such as changes in ownership/management, being taken over by another company with international networks, or themselves acquiring such a firm. Based upon the extant literature and our own research, we propose an integrative model that recognises the existence of different internationalisation pathways. We then explore differences in behaviour due to the firm's internationalisation trajectory and discuss the strategic and public policy implications.     

Locational strategies of international hotel chains

An empirical study was undertaken into the expansion strategies of international hotel operators in five countries in Eastern Central Europe. A questionnaire survey was conducted of the leading chains, framed around an eclectic paradigm. The analysis was complemented with multivariate analysis of competitive and locational strengths, thereby permitting additional insights into the relative positions of the major companies. The major ownership advantages were knowledge of guest requirements, strategic planning, and reservation systems. Locational advantages identified consisted of the size and nature of the city in which the hotel was to be located, the infrastructure within the region, and the perception of the region as an attractive business destination.