Is there an advantage of emergingness? A politico-regulatory perspective |
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| Institution: | 1. University of North Carolina at Greensboro, P.O. Box 26170, Greensboro, NC 27402, USA;2. Florida International University, Modesto A. Maidique Campus, 11200 S.W. 8th St., Miami, FL 33199, USA;3. Erasmus University, 3000 DR Rotterdam, The Netherlands;4. Siena College, 515 Loudon Road, Loudonville, NY 12211, USA;5. East Carolina University, 3132 Bate Building, Greenville, NC 27858, USA;1. Ted Rogers School of Management, Ryerson University, 350 Victoria Street, Toronto, ON, M5B 2K3, Canada;2. International Business School, Shanghai University of International Business and Economics, No. 1900 Wenxiang Road, Songjiang District, Shanghai, 201620, China;1. School of Economics, Business Administration and Accounting in Ribeirão Preto (FEA-RP), University of São Paulo (USP), Brazil;2. Department of Accounting, School of Economics, Business Administration and Accounting in Ribeirão Preto (FEA-RP), University of São Paulo (USP), Av. dos Bandeirantes, 3900, FEA-RP, ZIP, 14040-905 Ribeirão Preto, São Paulo, Brazil;1. CARME, School of Technology and Management, Polytechnic of Leiria, CSG/ADVANCE, Campus 2, Morro do Lena, Alto do Vieiro, 2411 - 901 Leiria, Portugal;2. CSG/ADVANCE, ISEG - Lisbon School of Economics & Management, Universidade de Lisboa, Rua Miguel Lupi, no. 20, 1249-078 Lisbon, Portugal;1. University of Exeter, UK;2. Research Institute of Industrial Economics, Sweden;3. City University of Hong Kong, China;4. University of Leeds, UK;1. School of Business and Economics, Loughborough University, LE11 3TT, United Kingdom;2. University of Strathclyde, G1 1XQ, United Kingdom;3. Kwame Nkrumah University of Science & Technology, University Post O?ce, Kumasi, Ghana; Gordon Institute of Business Science, University of Pretoria, 26 Melville Rd, Illovo, Johannesburg, 2196, South Africa;1. Villanova School of Business, Villanova University, Villanova, PA 19085, USA;2. California State University Monterey Bay, College of Business, 100 Campus Center, Seaside, CA 93955, USA |
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| Abstract: | The source(s) of competitive advantage of emerging-economy multinational enterprises (MNEs) remains a puzzle in international strategy scholarship, with some arguing that such firms are at a disadvantage compared to developed-economy rivals. Drawing on the concept of institutional advantage and using a sample of 233 foreign subsidiaries operating in 25 emerging economies over the period of 2000–2017, we find that foreign subsidiaries of emerging-economy MNEs are more adept than foreign subsidiaries of developed-economy MNEs at deploying their fixed asset management capabilities in emerging-economy host countries, especially when host-country politico-regulatory institutions are underdeveloped. Likewise, we find that subsidiaries of emerging-economy MNEs are more adept at deploying their tax planning capabilities when host-country politico-regulatory institutions become increasingly volatile. We discuss how these findings contribute to scholarly thought regarding the performance of emerging-economy MNEs. |
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| Keywords: | Emerging economies Emerging-economy MNE Foreign subsidiary Firm performance Institutional advantage |
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