The Impact of the home country on internationalization |
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| Institution: | 1. University of Miami, School of Business Administration, 5250 University Dr, Coral Gables, FL 33146, USA;2. Sun Yat-Sen University Business School, No.135 Xingang Xi Road, Haizhu District, Guangzhou, Guangdong Province, 510275, China;1. University of Miami, School of Business Administration, 5250 University Dr, Coral Gables, FL 33146, USA;2. Sun Yat-Sen University Business School, No.135 Xingang Xi Road, Haizhu District, Guangzhou, Guangdong Province, 510275, China;1. Faculty of Business Administration, University of Macau, Macau;2. Nottingham University Business School, University of Nottingham, United Kingdom;3. School of International Trade and Economics, University of International Business and Economics, 10 East Huixin Street, Chaoyang District, Beijing 100029, China;4. Leeds University Business School, United Kingdom;5. Department of Economics, University of Macau, Macau;1. School of East Asia Studies, University of Sheffield, 6-8 Shearwood Road, Sheffield S10 2TD, United Kingdom;2. Henley Business School, International Business and Strategy, University of Reading, Whiteknights Campus, Reading RG6 6AH, United Kingdom;1. Gordon Institute of Business Science, University of Pretoria, 25 Fricker Road, Illovo, Johannesburg, 2146, South Africa;2. University of Sussex, Jubilee Building, Falmer, Brighton, BN1 9RH, UK;3. Graduate School of Business, University of Cape Town, 8 Portswood Road, V&A Waterfront, Cape Town, 8002, South Africa;1. John Molson School of Business, Concordia University, Montréal, Québec, Canada;2. London School of Economics, London, United Kingdom;3. Beedie School of Business, Simon Fraser University, Vancouver, British Columbia, Canada;1. Department of Management, London School of Economics, UK;2. Department of Strategy and Entrepreneurship, China Europe International Business School, China;3. International Business Discipline, University of Sydney, Australia;4. Department of Strategic Management and Globalization, Copenhagen Business School, Denmark;5. Department of International Economics and Management, Copenhagen Business School, Denmark |
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| Abstract: | We analyze how a firm’s home country influences its internationalization. We propose two complementary types of influence. First, we conceptualize a firm’s international trade as shaped by four drivers: comparative advantage, comparative disadvantage, country-of-origin advantage, and country-of-origin liability. Second, we conceptualize the firm’s foreign direct investment as shaped by four other drivers: institutional learning, competitive learning, institutional escape, and competitive escape. Taken together, these eight drivers help pull together recent theoretical advances on topics such as emerging-market multinationals, investment in tax havens, and cross-border acquisitions of firms in advanced countries. We also highlight other home-country related issues, such as strategic responses and home-host country links, in the spirit of fostering future research on home-country effects that warrant a more nuanced understanding. |
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| Keywords: | Home country Multinational enterprise Internationalization Emerging markets Institutions |
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