Global strategy collections: Multinationality and performance

IF 5.7 2区 管理学 Q1 BUSINESS Global Strategy Journal Pub Date : 2023-03-25 DOI:10.1002/gsj.1478
Torben Pedersen, Stephen Tallman
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Abstract

Research Summary

In this second collection of articles relating to global strategy, we address the well-established but unresolved issue of the relationship between multinationality and performance among multinational firms. The M-P relationship has been the topic of many articles in many journals for many years, but its true nature is still not established. Both theory and empirical findings provide different and often opposed views, as can be seen in the articles collected here. We see two main perspectives on this issue. Some scholars suggest that differences in data and analytical tools have prevented consistent empirical results, and that more consistent and carefully chosen empirical modeling can yet establish the true M-P connection. Others believe that basic problems in theory and in building testable frameworks that are truly consistent with theory have made this an inherently intractable problem. The collection provides important articles that test the M-P relationship as well as critiques from both perspectives. We see considerable power in the view that individual firms are likely to have their own idiosyncratic optimal level of multinationaliation. We finish by calling for and suggesting new approaches to the issue, such as a micro-foundations approach, as opposed to simply using more sophisticated tools to test problematic models based on well-established but ultimately inadequate theory.

Managerial Summary

The relationship between the level of multinational diversification and performance in multinational firms is at the heart of global strategy. If operating at ever increasing levels in ever more countries does not provide reliably superior performance, why do firms continue to expand internationally? One view suggests that since firms continue to increase their international presence, there must be some ultimate benefits—difficult as they may be to establish. The opposing view suggests that since an equal amount of research finds no such benefits, it may be that no level of multinational diversification is generally optimal, but that depending on its particular resources and capabilities, experience, industry, and national portfolio, each multinational must discover its own optimal level of cross-border investment.

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全球战略集合:多国性和绩效
在与全球战略相关的第二篇文章中,我们解决了跨国公司中多国性与绩效之间的关系这一公认但尚未解决的问题。多年来,M-P关系一直是许多期刊上许多文章的主题,但其真正性质仍未确定。从这里收集的文章中可以看出,理论和实证研究结果都提供了不同的、经常是相反的观点。我们看到关于这个问题的两个主要观点。一些学者认为,数据和分析工具的差异阻碍了一致的实证结果,而更一致和精心选择的实证模型仍可以建立真正的M-P联系。其他人认为,理论和构建与理论真正一致的可测试框架的基本问题使这成为一个固有的棘手问题。该合集提供了检验M-P关系的重要文章,以及来自两个角度的批评。个别公司可能拥有自己独特的最佳跨国化水平,这一观点具有相当大的影响力。最后,我们呼吁并建议解决这个问题的新方法,比如微观基础方法,而不是简单地使用更复杂的工具来测试基于成熟但最终不充分的理论的有问题的模型。跨国公司多元化水平与业绩之间的关系是全球战略的核心。如果在越来越多的国家不断提高运营水平并不能提供可靠的卓越业绩,企业为什么还要继续在国际上扩张呢?一种观点认为,由于企业不断扩大其国际影响力,必然会有一些最终的利益——尽管这些利益可能很难确立。相反的观点认为,由于同等数量的研究没有发现这样的好处,可能没有跨国公司多样化的水平通常是最优的,但根据其特定的资源和能力、经验、行业和国家投资组合,每个跨国公司必须发现自己的最佳跨境投资水平。
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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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