Search results

1 – 10 of over 77000
Book part
Publication date: 27 September 2011

Gohar G. Stepanyan

Purpose – Examine the role of institutional investors in accelerating the development of capital markets and economies abroad, the determinants of their investment, both in the…

Abstract

Purpose – Examine the role of institutional investors in accelerating the development of capital markets and economies abroad, the determinants of their investment, both in the domestic and foreign markets, and their importance in promoting good corporate governance practices worldwide and facilitating increased financial integration.

Methodology/approach – Review and synthesize recent academic literature (1970–2011) on the process of international financial integration and the role of foreign institutional investors in the increasingly global financial markets.

Findings – Despite the concern that short-term flow of international capital can be destructive to the emerging and developing market economies, academic evidence on a destabilizing effect of foreign investment activity is limited. Institutional investors’ systematic preference for stocks of large, well-known, globally visible foreign firms can explain the presence of a home bias in international portfolio investment.

Research limitations – Given the breadth of the two literature streams, only representative studies (over 45 published works) are summarized.

Social implications – Regulators of emerging markets should first improve domestic institutions, governance, and macroeconomic fundamentals, and then deregulate domestic financial and capital markets to avoid economic and financial crises in the initial stages of liberalization reforms.

Originality/value of paper – A useful source of information for graduate students, academics, and practitioners on the importance of foreign institutional investors.

Details

Institutional Investors in Global Capital Markets
Type: Book
ISBN: 978-1-78052-243-2

Keywords

Book part
Publication date: 25 October 2014

Katrin Held and Nicola Berg

In developed markets, emerging market multinational enterprises (EMNEs) seem to be more discriminated by host country nationals than foreign developed market multinational…

Abstract

Purpose

In developed markets, emerging market multinational enterprises (EMNEs) seem to be more discriminated by host country nationals than foreign developed market multinational enterprises (DMNEs). They are challenged with host country nationals’ prejudices and face a stigma of being from emerging markets. While literature agrees that EMNEs suffer from additional disadvantages due to their country-of-origin, research fails to identify those factors that may lead to a higher discrimination against EMNEs than against foreign DMNEs.

Design/methodology/approach

Based on institutional theory, we look at institutional-related and resource-related antecedents that have an impact on various forms of direct and indirect discrimination by host country nationals.

Originality/value

Our framework analyzes the crucial differences between host country nationals’ perception of EMNEs and foreign DMNEs and the resulting challenges for EMNEs in the developed world. It enhances our understanding of the importance of institutional environments in explaining differences in host country nationals’ discrimination against foreign MNEs.

Details

Multinational Enterprises, Markets and Institutional Diversity
Type: Book
ISBN: 978-1-78441-421-4

Keywords

Open Access
Article
Publication date: 20 July 2022

Simone Guercini and Matilde Milanesi

This paper aims to provide a wide picture of studies on heuristics for international decision-making with a focus on foreign market entry. This paper systematically reviews…

4310

Abstract

Purpose

This paper aims to provide a wide picture of studies on heuristics for international decision-making with a focus on foreign market entry. This paper systematically reviews studies published in the international business and international marketing domain to examine heuristically based decisions for foreign market entry.

Design/methodology/approach

This paper proposes a systematic literature review and an in-depth analysis of 32 papers published between 1997 and 2021 dealing with foreign market entry and the use of heuristics for international decision-making.

Findings

Even if the marketing and management literature is in many ways permeable to the debate around heuristics developed in experimental psychology and cognitive science, international business and international marketing studies on the one hand recognize that international decision-making, especially when dealing with foreign market entry, is strongly characterized by uncertainty, on the other hand, there isn’t a developed and systematized literature about it. This paper shows key topics and areas fundamental to foreign market entry in which heuristics are applied by decision makers and their effectiveness.

Originality/value

A systematic review of the use of heuristics for foreign market entry decision-making can represent a useful step for a more organic development of knowledge about the more general use of heuristics for international decision-making. Understanding the decision-making process on the modes of entry in foreign markets is a key topic for international marketing and international business scholars and practitioners.

Details

Management Research Review, vol. 45 no. 9
Type: Research Article
ISSN: 2040-8269

Keywords

Article
Publication date: 24 April 2009

Anders Pehrsson

The purpose of this paper is to extend the knowledge of marketing strategy antecedents of industrial value adding in foreign markets. It attempts to answer the following two…

2435

Abstract

Purpose

The purpose of this paper is to extend the knowledge of marketing strategy antecedents of industrial value adding in foreign markets. It attempts to answer the following two questions: how is the marketing strategy of a foreign subsidiary associated with the extent of its value‐adding activity? Is there an association between the extent of value‐adding activity and financial performance of the subsidiary?

Design/methodology/approach

A model is developed and hypotheses are tested. Data are collected from 191 subsidiaries of Swedish manufacturing firms in Germany, the UK, and the USA.

Findings

Product‐market breadth and market experience positively affect the extent of foreign value adding. Also, market experience has a moderating effect and strengthens the positive association between product‐market breadth and the extent of value adding. A foreign subsidiary's financial performance is positively associated with the number of value‐adding activities of the subsidiary.

Research limitations/implications

The study shows that the marketing strategy of a foreign subsidiary needs to be acknowledged to understand the antecedents of foreign value‐adding activity. In addition, the extent of value‐adding activity contributes to the implementation of an effective international strategy.

Practical implications

An industrial firm wanting to implement an effective international marketing strategy needs to pay attention to the links between the marketing strategy of a foreign subsidiary and the extent of the subsidiary's value‐adding activity.

Originality/value

The study is unique in that it applies a subsidiary perspective and focuses on foreign subsidiary strategy associations. The study both extends the common approach, which argues that the value adding of a foreign subsidiary is determined only by the corporate marketing strategy, and explores associations with foreign subsidiary performance.

Details

International Marketing Review, vol. 26 no. 2
Type: Research Article
ISSN: 0265-1335

Keywords

Article
Publication date: 1 May 1990

Cynthia Fraser and Robert E. Hite

The international marketing practices and foreign sales of USmanufacturing firms are examined in order to identify those marketingvariables which are most closely tied to…

Abstract

The international marketing practices and foreign sales of US manufacturing firms are examined in order to identify those marketing variables which are most closely tied to international sales. Survey results suggest that few firms advertise internationally, although advertising is an important determinant of foreign sales, even if that advertising in non‐English‐speaking markets is in English and regardless of its level of standardisation. Results suggest further that manufacture abroad is a powerful stimulus to foreign sales, which is not matched by the presence of sales offices abroad.

Details

International Marketing Review, vol. 7 no. 5
Type: Research Article
ISSN: 0265-1335

Keywords

Article
Publication date: 1 September 2008

Zafar U. Ahmed, Craig C. Julian and Abdul Jumaat Mahajar

This study is concerned with an empirical investigation that explores the barriers to export that emerging market entrepreneurs face when engaging in international business. The…

1067

Abstract

This study is concerned with an empirical investigation that explores the barriers to export that emerging market entrepreneurs face when engaging in international business. The data was gathered from a survey of 214 manufacturing firms, headquartered in Malaysia, and considered to be an emerging market. Statistical analysis was carried out using one‐way analysis of variance and the Tukey‐Kramer Multiple Comparison Procedure. The study’s key findings indicate that exporters and non‐exporters perceive the importance of the need to adapt products to meet foreign customer preferences and a lack of capacity dedicated to a continuing supply of exports differently as barriers to export. However, other than those barriers to export the study findings indicate no significant differences in the perceptions of exporters and non‐exporters from an emerging market towards the different barriers to export.

Details

Journal of Asia Business Studies, vol. 3 no. 1
Type: Research Article
ISSN: 1558-7894

Keywords

Article
Publication date: 20 April 2010

Jing Xu, Hanqin Zhang and Jiajia Wu

Based on the commitments made when it joined the World Trade Organization (WTO) in 2001, China began to allow the establishment of foreign‐invested travel agencies. During this…

3032

Abstract

Purpose

Based on the commitments made when it joined the World Trade Organization (WTO) in 2001, China began to allow the establishment of foreign‐invested travel agencies. During this transition period, China promulgated travel service‐related policies and paid a great deal of attention to this specific business market. This paper aims to analyze the said tourism policies and provide suggestions to foreign investors for their future business activities in this promising market.

Design/methodology/approach

The study uses both primary and secondary data to specify China's policies on foreign‐invested travel agencies upon its accession to the WTO and discuss foreign investors' entry modes and operating strategies for joining the market. Hall's model is employed to examine the policy‐making process, including policy demands, policy decisions, policy outputs, and policy impacts.

Findings

Some foreign investment‐related tourism policies were implemented ahead of the schedule to which China committed upon its entry to the WTO. The tight nature of the policies implemented meant that only 25 foreign‐invested agencies had survived in China by August 2007. Industry professionals recruited for this study commented that the nature and pattern of FDI in this market has been successfully framed by the policies adopted.

Practical implications

The entry modes that foreign investors in China's travel service market should adopt and the detailed operating strategies they should use are discussed.

Originality/value

The paper can be seen as a successful and enlightening attempt to pave the way for future researchers to engage in further discussions about FDI in tourism in a political environment, particularly in developing countries.

Details

International Journal of Contemporary Hospitality Management, vol. 22 no. 3
Type: Research Article
ISSN: 0959-6119

Keywords

Article
Publication date: 24 August 2018

K. Skylar Powell

Research has identified inverted U-shaped relationships between domestic competitive position, often cast in terms of home-country market share or relative profitability, and…

Abstract

Purpose

Research has identified inverted U-shaped relationships between domestic competitive position, often cast in terms of home-country market share or relative profitability, and speed of entry into a foreign market. However, in some industries, firms may be especially attentive and responsive to competition between firms in their local-home market (i.e. sub-national). Hence, this study aims to explore the effect of local-home market competitive intensity on the relationship between a firm’s overall competitive position and speed of entry into a foreign market.

Design/methodology/approach

Data from 114 large US corporate law firms from 1992 through 2008 were used for Cox proportional-hazards regression models to estimate the moderating effect of local-home market competitive intensity on the relationship between relative profitability at the national level and speed of entry (i.e. hazard rate) into China.

Findings

Less-dominant firms from highly competitive local-home markets entered China more quickly than less-dominant firms from less-competitive local-home markets. In addition, first-movers from highly competitive local-home markets tended to have more advantageous competitive profiles, as reflected in profitability, than first-movers from less-competitive local-home markets.

Originality/value

This research explores an important contingency in the relationship between a firm’s competitive position at home and timing of entry into a foreign market. Additionally, the results suggest that first-movers from less-competitive local-home markets may face immediate competition from better-positioned first-movers from more competitive locations within the same home market when they enter new markets.

Details

Multinational Business Review, vol. 27 no. 1
Type: Research Article
ISSN: 1525-383X

Keywords

Article
Publication date: 17 February 2022

Min Ju and Gerald Yong Gao

The purpose of this paper is to examine the performance impact of foreign ventures' exploration and exploitation strategies in emerging markets. Exploration and exploitation…

Abstract

Purpose

The purpose of this paper is to examine the performance impact of foreign ventures' exploration and exploitation strategies in emerging markets. Exploration and exploitation represent key strategic choices and have been extensively studied in the context of domestic markets. Yet the implication of such innovation strategies for foreign ventures operating in emerging markets has been under-researched. We aim to investigate whether foreign ventures can realize the value of exploration and exploitation strategies in emerging markets and also the moderating role of marketing capability and operation flexibility to enable the implementation process.

Design/methodology/approach

This study adopts the hierarchical moderated regression approach using a sample of foreign ventures operating in high-tech manufacturing industries in China.

Findings

The authors find that both exploration and exploitation have positive effects on firms' financial performance. Marketing capability strengthens the performance impact of exploration, but exhibits no such impact of exploitation. Moreover, operation flexibility positively moderates the effects of both exploration and exploitation on performance.

Research limitations/implications

This study provides important insights into whether foreign ventures can boost performance through exploration and exploitation strategies in emerging markets as well as the implementation-level factors that can facilitate such positive effects.

Originality/value

The study is novel in revealing the moderating role of marketing capability and operation flexibility in facilitating the performance outcome of exploration and exploitation strategies.

Details

International Marketing Review, vol. 39 no. 4
Type: Research Article
ISSN: 0265-1335

Keywords

Article
Publication date: 18 January 2008

Anders Pehrsson

The purpose of this paper is to extend our knowledge of industrial firms' international strategy implementation by exploring key associations pertaining to types of value adding…

1025

Abstract

Purpose

The purpose of this paper is to extend our knowledge of industrial firms' international strategy implementation by exploring key associations pertaining to types of value adding in foreign markets. The questions are: how are types of value adding in foreign markets associated with differentiation attributes? How are the types associated with the performance of foreign units?

Design/methodology/approach

A hypothesized model is developed. The key terms (type of value adding, differentiation attributes, financial performance) are operationalized. A questionnaire was used to collect the quantitative data necessary to test the hypotheses using ANOVA analyses. The questions were answered by managers of 191 subsidiaries of Swedish manufacturing firms in Germany, the UK and the USA.

Findings

Firms with product development in foreign markets are associated with a limited focus on product attributes in trying to receive orders compared with firms without such local value adding. Local customer services are related to a limited emphasis on product attributes as well, but such services are associated with an emphasis on customer flexibility attributes. Foreign product development and customer services are associated with high performance. Interpretations of the findings are discussed.

Practical implications

The study contributes theoretically as it extends our knowledge of international strategy implementation. In the search for the type of value adding in a foreign market, the industrial firm is recommended to be aware of the general associations among the types, and the differentiation attributes and performance established in the study.

Originality/value

The application of a local perspective goes beyond what has been done in the dominant head quarter studies in previous research. Another key value is the analysis of perceptual data collected from managers responsible for foreign subsidiaries.

Details

European Business Review, vol. 20 no. 1
Type: Research Article
ISSN: 0955-534X

Keywords

1 – 10 of over 77000