Government policy, filial piety, and foreign direct investment

IF 5.7 2区 管理学 Q1 BUSINESS Global Strategy Journal Pub Date : 2022-08-02 DOI:10.1002/gsj.1459
Pengcheng Ma, Lin Cui, Meitong Dong, Yi-Chuan Liao
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引用次数: 2

Abstract

Research Summary

This study investigates formal institutional pressure from government policy, informal institutional pressure from filial piety, and their interaction effect on firms' internationalization strategy. We argue that, while influenced by independent policy and cultural effects, firms also exercise agency when responding to these competing institutional pressures. We find empirical support for the influence of policy and cultural effects on firms' foreign direct investment (FDI). We also find that, in making decisions about FDIs, state-owned enterprises are more sensitive to government policy, whereas family businesses are more sensitive to filial piety.

Managerial Summary

This study reveals that firms' strategies in complex institutional environments are influenced by their needs for formal and informal institutional legitimacy. Managers can exercise agency by weighing the importance of formal and informal legitimacy differently and therefore vary in their responses to institutional pressures. However, managerial agency is bound by firm ownership type. Managers of state-owned firms prioritize formal institutional legitimacy, while their family business counterparts attend more to informal institutional legitimacy. Policymakers should be aware of this important difference between types of firms, which allows them to address noncompliance in a culturally sensitive and ultimately more effective way.

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政府政策、孝道和外国直接投资
本研究考察了来自政府政策的正式制度压力和来自孝道的非正式制度压力,以及它们对企业国际化战略的交互作用。我们认为,在受到独立的政策和文化影响的同时,企业在应对这些相互竞争的制度压力时也行使能动性。我们发现政策和文化效应对企业对外直接投资(FDI)影响的实证支持。我们还发现,国有企业在外商直接投资决策中对政府政策更为敏感,而家族企业对孝道更为敏感。本研究揭示了企业在复杂制度环境中的战略受到其正式和非正式制度合法性需求的影响。管理者可以通过不同地衡量正式和非正式合法性的重要性来行使代理,因此他们对制度压力的反应也会有所不同。然而,管理代理受公司所有权类型的约束。国有企业的管理者优先考虑正式的制度合法性,而家族企业的管理者则更重视非正式的制度合法性。政策制定者应该意识到不同类型公司之间的这一重要差异,这使他们能够以一种文化敏感的、最终更有效的方式解决不合规问题。
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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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