Focused and ambidextrous catch-up strategies of emerging economy multinationals |
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| Affiliation: | 1. Research School of Management, The Australian National University, Australia;2. The University of Sydney Business School, The University of Sydney, Australia;3. School of Management, Chongqing Technology and Business University, China;1. National Research Base of Intelligent Manufacturing Service, Chongqing Technology and Business University, Chongqing, 400067, China;2. School of Business Management, Hongik University, Sejong, 30016, South Korea;3. Leeds University Business School, The University of Leeds, Leeds, LS2 9JT, UK;4. College of Business, Hankuk University of Foreign Studies, 270, Imun-dong, Dongdaemun-gu, Seoul, 130-791, South Korea;1. Department of Marketing, International Business & Strategy, Goodman School of Business, Brock University, St. Catharines, Ontario, Canada;2. School of Business, Beijing University, Beijing, China;3. Marketing and International Business, School of Business, Nankai University, Tianjin, China;4. School of Business, The Hang Seng University of Hong Kong, Lee Quo Wei Academic Building, Siu Lek Yuen, Shatin, Hong Kong;1. Department of Management, Universitat Politècnica de Catalunya (Barcelona Tech), EPSEB, Av. Gregorio Marañón, 44-50, 08028 Barcelona, Spain;2. Department of Strategy, Entrepreneurship & Innovation, Toulouse Business School (TBS), 1 Place Alphonse Jourdain, 31068 Toulouse Cedex 7, France;3. Universidad Politécnica International, Costa Rica;4. Business School, Costa Rica Institute of Technology (ITCR), Business School, 15th Street, 14th Avenue, Cartago, Costa Rica;5. Birmingham Business School, University of Birmingham, Edgbaston, B15 2TT, Birmingham, UK |
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| Abstract: | Many emerging economy multinationals (EMNEs) conduct asset-seeking foreign direct investment as a strategy to catch up to global market leaders. This catch-up strategy can be implemented in a focused (purely exploratory) or ambidextrous (simultaneously exploratory and exploitative) manner. This study examines the influence of industry environment on EMNEs’ adoption of these catch-up strategies. Integrating an industry-based view with an upper-echelon perspective, we argue that industry munificence promotes a focused catch-up strategy but hinders the ambidextrous alternative. These opposing effects are further magnified by the functional diversity of EMNEs’ managerial teams because functionally diversified teams are more likely to allocate attention to external cues in the industrial environment, as opposed to forming a unified strategic orientation internally. Using a panel of EMNEs from China over the period of 2005–2010, we find strong support for our main effects of industry munificence on both catch-up strategies and the moderating effect of managerial team’s functional diversity towards ambidextrous catch-up strategy. |
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| Keywords: | Strategic asset seeking Foreign direct investment Emerging multinational enterprises Ambidexterity |
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