How Does Protectionism Impact Multinational Firm Reshoring? Evidence from the UK

IF 3.9 3区管理学 Q2 MANAGEMENT Management International Review Pub Date : 2023-10-24 DOI:10.1007/s11575-023-00521-5

Yama Temouri, Vijay Pereira, Agelos Delis, Geoffrey Wood

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Abstract

Abstract There is growing interest in the nature and possible extent of de-globalization. This paper explores the impact that protectionist measures have on multinational enterprise (MNE) reshoring back to the UK. Besides taking into account the global trends indicating a return to protectionism, the existing literature highlights various firm-level and structural country-level determinants of reshoring decisions. We test a conceptual model with parent-subsidiary firm-level data for the period 2009 to 2017. We conclude that firms that are more sensitive to wage costs in their overseas subsidiaries were more likely to reshore. We did not find that more capital-intensive firms had a higher propensity to reshore. We find that our results are mostly driven from UK MNEs with subsidiaries in EU. This result has clear implications for a potential Brexit effect. Theoretically, we base our findings in transactional cost economics to help explain why different types of firms behave in the way they do, and why different types of firms may respond in quite different ways to the same mix of institutions.

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保护主义如何影响跨国公司回流?来自英国的证据

人们对去全球化的性质和可能的程度越来越感兴趣。本文探讨了保护主义措施对跨国企业回流英国的影响。除了考虑到表明保护主义回归的全球趋势外，现有文献还强调了回流决策的各种公司层面和结构性国家层面的决定因素。我们用2009年至2017年母子公司层面的数据检验了一个概念模型。我们的结论是，对海外子公司的工资成本更敏感的公司更有可能回流。我们没有发现资本密集程度越高的企业回流倾向越高。我们发现，我们的业绩主要来自在欧盟设有子公司的英国跨国公司。这一结果对英国脱欧的潜在影响有着明确的暗示。从理论上讲，我们将研究结果建立在交易成本经济学的基础上，以帮助解释为什么不同类型的企业会有不同的行为方式，以及为什么不同类型的企业对相同的制度组合可能会有截然不同的反应。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Management International Review MANAGEMENT-

CiteScore

6.50

自引率

11.60%

发文量

期刊介绍： Management International Review publishes research-based articles that reflect significant advances in the key areas of International Management. Its target audience consists of scholars in International Business Administration. Management International Review is a double-blind refereed journal that aims at the advancement and dissemination of research in the fields of International Management. The scope of the journal comprises International Business, Cross-Cultural Management, and Comparative Management. The journal publishes research that builds or extends International Management theory so that it can contribute to International Management practice. Management International Review welcomes both theoretical and empirical work. Original papers are invited that are based on a solid theoretical basis and a rigorous methodology. In the area of empirical studies, the journal publishes both quantitative and qualitative research. To be published in Management International Review, a paper must make strong contributions and highlight the significance of those contributions to the field of International Management. The editors are especially interested in manuscripts that break new ground rather than papers that make only incremental contributions. Management International Review publishes articles and research notes. Every year, six issues are published. On average, two of these issues are Focused Issues, which concentrate on a specific subfield of International Management.