The MNE and its subsidiaries at times of global disruptions: An international relations perspective

IF 5.7 2区 管理学 Q1 BUSINESS Global Strategy Journal Pub Date : 2022-03-17 DOI:10.1002/gsj.1436
Klaus E. Meyer, Chengguang Li
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引用次数: 22

Abstract

Research Summary

The global economy has recently entered a period of disruptions, increasing barriers to cross-border business and potentially inhibiting the merits and legitimacy of integrated global strategies. We explore how three major disruptions in the global economy (reduced people mobility, divergent national regulatory institutions, and anti-globalization populism) affect the strategies of multinational enterprises, and, in particular, the role of their foreign subsidiaries. These external disruptions call for a reassessment of theories regarding the nature of global strategy and the interaction between businesses and their political environment. Specifically, we argue that the international relations perspectives of realism, liberalism, and constructivism help explain the nature of the disruptions, and hence can inform strategy scholarship in explaining and examining strategic responses to such external disruptions.

Managerial Summary

Firms establish subsidiaries abroad in order to exploit the opportunities of globalization to the benefit of their shareholders and other stakeholders. However, the global economy has recently entered a period of disruptions that include reduced people mobility, divergent national regulatory institutions, and increased anti-globalization populism. We argue that these disruptions will not only create new operational challenges for global strategies and new needs for local adaptation but may even challenge the legitimacy of global business models. We turn to political science for explanations and find that three paradigms of international relations offer contrarian predictions not only on the big disruptions but also on the ability of MNEs to influence political processes driving the disruptions.

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全球动荡时期的跨国公司及其子公司:国际关系视角
全球经济最近进入了一个混乱的时期,增加了跨境业务的障碍,并可能抑制综合全球战略的优点和合法性。我们将探讨全球经济中的三个主要中断(人员流动性减少、国家监管机构分歧和反全球化民粹主义)如何影响跨国企业的战略,特别是其外国子公司的作用。这些外部干扰要求我们重新评估有关全球战略性质以及企业与其政治环境之间相互作用的理论。具体而言,我们认为现实主义、自由主义和建构主义的国际关系视角有助于解释这种中断的本质,因此可以为战略学术解释和研究对这种外部中断的战略反应提供信息。企业在国外设立子公司是为了利用全球化的机会,使其股东和其他利益相关者受益。然而,全球经济最近进入了一个混乱的时期,包括人口流动性减少,国家监管机构分歧,反全球化民粹主义抬头。我们认为,这些中断不仅会给全球战略带来新的运营挑战,也会给地方适应带来新的需求,甚至可能挑战全球商业模式的合法性。我们转向政治学寻求解释,发现国际关系的三种范式提供了相反的预测,不仅对大破坏,而且对跨国公司影响推动破坏的政治进程的能力。
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来源期刊
CiteScore
14.20
自引率
11.80%
发文量
46
期刊介绍: The Global Strategy Journal is a premier platform dedicated to publishing highly influential managerially-oriented global strategy research worldwide. Covering themes such as international and global strategy, assembling the global enterprise, and strategic management, GSJ plays a vital role in advancing our understanding of global business dynamics.
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