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Book part
Publication date: 20 October 2011

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Entrepreneurship in the Global Firm
Type: Book
ISBN: 978-1-78052-115-2

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Book part
Publication date: 20 October 2011

Alain Verbeke is professor of international business strategy and holds the McCaig Research Chair in management at the Haskayne School of Business, University of Calgary…

Abstract

Alain Verbeke is professor of international business strategy and holds the McCaig Research Chair in management at the Haskayne School of Business, University of Calgary. He was previously the director of the MBA programme, Solvay Business School, University of Brussels. He has also been visiting professor at Dalhousie University, the University of Toronto and the Université Catholique de Louvain, as well as an associate fellow of Templeton College (University of Oxford). He is presently academic associate of the Centre for International Business and Management, Judge Business School, University of Cambridge.

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Entrepreneurship in the Global Firm
Type: Book
ISBN: 978-1-78052-115-2

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Book part
Publication date: 20 October 2011

Rob van Tulder, Ana Teresa Tavares-Lehmann and Alain Verbeke

The scholarly attention devoted to entrepreneurship in the international business (IB) literature has been relatively modest. Most of the ‘mainstream’ literature on…

Abstract

The scholarly attention devoted to entrepreneurship in the international business (IB) literature has been relatively modest. Most of the ‘mainstream’ literature on entrepreneurship in management studies (Casson, 1982; Covin & Slevin, 1991; Lumpkin & Dess, 1996; Shane, 2000) has focused on issues such as the determinants of entrepreneurial behaviour and the characteristics of individual entrepreneurs, thereby only occasionally addressing the international context in which entrepreneurial ventures may develop, and the ways in which this international context influences entrepreneurial decision making.

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Entrepreneurship in the Global Firm
Type: Book
ISBN: 978-1-78052-115-2

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Article
Publication date: 15 May 2017

Ana Teresa Tavares Lehmann and Frederick Lehmann

The paper aims to investigate outward foreign direct investment (OFDI) by Chinese state-owned enterprises (SOEs), aiming to unveil whether the Chinese OFDI policy acted as…

Abstract

Purpose

The paper aims to investigate outward foreign direct investment (OFDI) by Chinese state-owned enterprises (SOEs), aiming to unveil whether the Chinese OFDI policy acted as a country-specific advantage (CSA) that has been turned by Chinese firms, particularly SOEs, into a firm-specific advantage (FSA).

Design/methodology/approach

Using a data set spanning 18 years (1996-2013) on international mergers and acquisitions (IM&As) by Chinese companies (SOEs and private-owned enterprises – POEs) and drawing on extant literature, the paper systematically compares the behavior of Chinese SOEs and POEs, aiming to identify differences in their behavioral patterns that indicate that SOEs have benefitted more from policy-induced advantages than their private counterparts.

Findings

Among other aspects, significant differences were found regarding the behavior of SOEs vis-à-vis POEs that seem to show that SOEs had greater support from public entities, leading them to close larger deals and purchase more companies/stakes in cash; acquire firms with greater debt (implying higher interest payments); and purchase smaller stakes than POEs (indicating that there are other objectives than control). This lends support to the assumption that Chinese SOEs are “sitting on piles of cash”, and that the availability of capital acted as a CSA that has been transformed into an FSA by the companies involved, notably by SOEs.

Research limitations/implications

The comprehensive and large-scale data set used includes wholly owned SOEs, leaving out of this research partially owned SOEs. The findings of this paper have implications for the discussion on competitive neutrality and for the academic, managerial and public policy debate.

Originality/value

To the best of the authors’ knowledge, this is the only study, to date, that shows systematic differences in financing patterns of OFDI (notably via IM&As) by Chinese SOEs and POEs, among other behavioral characteristics of both types of companies when conducting FDI abroad, linking that to CSAs and FSAs induced by CSAs.

Details

Competitiveness Review: An International Business Journal, vol. 27 no. 3
Type: Research Article
ISSN: 1059-5422

Keywords

To view the access options for this content please click here
Book part
Publication date: 20 October 2011

Abstract

Details

Entrepreneurship in the Global Firm
Type: Book
ISBN: 978-1-78052-115-2

To view the access options for this content please click here
Book part
Publication date: 20 October 2011

Abstract

Details

Entrepreneurship in the Global Firm
Type: Book
ISBN: 978-1-78052-115-2

To view the access options for this content please click here
Book part
Publication date: 20 October 2011

Abstract

Details

Entrepreneurship in the Global Firm
Type: Book
ISBN: 978-1-78052-115-2

To view the access options for this content please click here
Book part
Publication date: 20 October 2011

Abstract

Details

Entrepreneurship in the Global Firm
Type: Book
ISBN: 978-1-78052-115-2

To view the access options for this content please click here
Book part
Publication date: 20 October 2011

Birger Maekelburger, Christian Schwens and Rüdiger Kabst

Purpose – The purpose of this chapter is to suggest a dynamic framework to investigate foreign market mode choices of small- and medium-sized enterprises (SME) over time.

Abstract

Purpose – The purpose of this chapter is to suggest a dynamic framework to investigate foreign market mode choices of small- and medium-sized enterprises (SME) over time.

Design/methodology/approach – We introduce a dynamic economic perspective drawing on the behavioural Uppsala Internationalisation Model (UIM) and the economic Transaction Cost Economics (TCE) framework. Often stigmatised as being static, TCE can benefit from the dynamic nature of the UIM. The UIM framework, however, can benefit from the economic determinants of the TCE.

Findings – We test the framework and our hypotheses in a dataset of 206 internationally operating German SMEs with the two data points initial and subsequent mode choice in the same foreign market. Thereby we demonstrate the hypothesised shifting effects of asset specificity and learning on the chosen foreign market mode over time.

Originality/value: The contribution of this chapter is on the link between the UIM and TCE. Particularly for SMEs, dynamics are relevant due to limited international experience and the notion of efficiency is important due to resource constraints. The investigation along the two data points, initial mode and subsequent mode, provides new insights into the effects of asset specificity and learning over time.

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Book part
Publication date: 20 October 2011

Mikael Hilmersson, Hans Jansson and Susanne Sandberg

Purpose – This study sets out to establish experiential knowledge profiles of small- and medium-sized enterprises (SMEs) entering emerging markets and to examine how the…

Abstract

Purpose – This study sets out to establish experiential knowledge profiles of small- and medium-sized enterprises (SMEs) entering emerging markets and to examine how the different abilities contained in these profiles impact the sustainability of market positions in the new turbulent era of global business.

Methodology – We analyse a sample of 203 entries into emerging markets by Swedish SMEs. The data collected on site at all sample firms is analysed in two sequential stages. First, an exploratory factor analysis is performed to derive four types of experiential knowledge. Second, a cluster analysis is performed to establish experiential knowledge profiles among the entering SMEs.

Findings – The result of the analysis shows that experiential knowledge is a multi-dimensional construct consisting of four main types. Moreover, emerging market entering SMEs are shown to develop different knowledge profiles. We suggest that Masters are well prepared for such periods. Learners most probably will experience high levels of uncertainty, whereas Country and Customer Experts face less uncertainty due to their specialisation on either host market or customer knowledge.

Originality – The chapter shows that the experiential knowledge base of emerging market entering SMEs is an important indicator of the readiness for turbulent times. Firms will be able to sustain market positions differently depending on which type of knowledge profile they belong to.

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