Imitation,performance feedback,and outward foreign direct investments by emerging market firms |
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| Affiliation: | 1. School of Management, Xi''an Jiaotong University, No 28 West Xianning Road, Xi''an 710049, Shaanxi, PR China;2. Business School, The University of Queensland, St Lucia, QLD 4072, Australia;3. School of Management, Guangzhou University, West Waihuan Road, Higher Education Mega Center, Guangzhou, PR China;1. University of Essex Business School, University of Essex, Southend on Sea, SS1 1LW Essex, United Kingdom;2. Vienna University of Economics and Business, Welthandelsplatz 1, Building D1, 1020 Vienna, Austria;1. New Jersey City University, 200 Hudson, St. Jersey City, NJ 07302, United States;2. University of Arkansas Fort Smith, 5210 Grand Ave, Fort Smith, AR 72908, United States;3. Washington State University, 377 Todd Hall Addition, Pullman, WA 99164, United States;4. Rutgers University, 100 Rockafeller Road, Piscataway, NJ 08854, United States;1. Graduate School of Future Strategy, KAIST, Daejeon 34141, Republic of Korea;2. Ministry of SMEs & Start-ups, Sejong 30121, Republic of Korea;1. Department of Management Sciences, COMSATS University Islamabad, Lahore Campus, Pakistan;2. Department of Organization, Work and Technology, Lancaster University Management School, Lancaster University, United Kingdom;1. Huazhong University of Science and Technology, School of Management, 1037 Luoyu Road, Wuhan 430074, PR China;2. Shanghai University, SILC Business School, 99 ShangDa Road, BaoShan Dirstrt, Shanghai 200444, PR China;3. University of Technology Sydney, UTS Business School, 15 Broadway Ultimo, 2007, NSW, Australia;1. Asper School of Business, University of Manitoba, 181 Freedman Crescent, Winnipeg MB R3T 5V4, Canada;2. Faculty of Business Administration, Lakehead University, 955 Oliver Road, Thunder Bay, ON P7B 5E1, Canada |
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| Abstract: | Extending the rational-based perspective of imitation, this study investigates how emerging market firms (EMFs) selectively imitate the frequency of outward foreign direct investment from two theoretically connected role models, i.e., large firms in an industry and board-interlocked firms. We posit that large and board-interlocked firms have differential values in endowing legitimacy and providing information because of their differences in terms of visibility to outsiders and value of acquired information. Using performance feedback as a moderator, we also indicate that EMFs performing above aspiration level decrease their imitation of large firms and board-interlocked firms. We also find that EMFs performing below aspiration level are more likely to imitate interlocked firms but less likely to imitate large firms. |
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| Keywords: | Imitation Frequency of OFDI Emerging market firms Large firms Board-interlocked firms Performance feedback |
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