Thunderbird International Business Review最新文献

This study provides an empirical investigation on how communication practices impact the post-acquisition integration outcomes, in the context of Chinese cross-border mergers and acquisitions (CBMAs). We tailored our assessment to reflect communication practices during Chinese CBMA integration. The integration outcomes are measured by organizational commitment and strategic performance improvement. Using a data collected via survey from global executives and middle managers, we find that communication accuracy, channel efficiency, and overseas business management department positively impact organizational commitment. Moreover, inter-organizational trust mediates the effect of communication accuracy on organizational commitment, and communication officer on organizational commitment. In addition, we find that the language barrier of the Chairman negatively impacts strategic performance improvement. Moreover, acquisition experience, business relatedness, industrial investors, private-owned investors, and management consultant all positively affect strategic performance improvement. However, middle managers negatively impact the integration outcomes.

This study empirically investigates the direct and interactive effects of firm-level ethics policies and country-level investor protection on firm corporate governance transparency. Using data on 9298 firms collected from the Bloomberg Terminal, we find that there is a positive relationship between country-level investor protection and firm corporate governance transparency. The results also support the argument that firms with existing ethics policies exhibit greater corporate governance transparency. We also find that in countries with weaker investor protection, the impact of firm-level ethics policies on corporate governance transparency is stronger. This study advances our understanding of the corporate governance transparency determinants, and the empirical evidence supports the notion that firm-level factors such as ethics policies may compensate for the lack of formal national investor protection regulations.

The Belt and Road Initiative (BRI) has been an important project for President Xi Jinping on foreign soil. The initiative gained momentum through colossal investments in Eurasia and Africa, mainly through infrastructure projects, backed by generous funding from Chinese financial institutions. A few years later, Latin America emerged as a new target for geographically extending the BRI. The region provides sufficient motivation to entice Chinese investors; it is well endowed with natural resources, offers a market of approximately 670 million people, and has many unmet needs. In addition, recent geopolitical reasons such as the ongoing trade war between the United States and China may give Chinese enterprises indirect access to the world's largest consumer market. We present a brief overview of the relationship between China and Latin America, focusing on the mode of entry of Asian companies into these territories. We analyze the primary entry mode of Chinese enterprises and whether they do so through Greenfield Investment (GI) or Mergers and Acquisitions (M&A). For this purpose, we use data from the China Global Investment Tracker. Thus, we intend to provide a complete picture of how public and private Chinese organizations are gaining a foothold in Latin America, and present its managerial implications.

We examine an emerging market multinational company's (EMNC's) transformation from an original equipment manufacturer (OEM) to an original brand manufacturer (OBM) and global leader. Our longitudinal study of Hisense—China's largest TV company (and the world's third largest) spans three decades and involves detailed interviews with over 50 executives. We study how the company's global value chain network evolved, how it reconfigured its organization, upgraded its capabilities, and enhanced its brand reputation. We develop propositions that may contribute to improved explanations for an EMNC's internationalization sequence, development of competitive advantages, overseas management practices, and brand building.

Due to rising anti-globalization sentiment, emerging market multinational corporations (EMNCs) face additional challenges in conducting cross-border mergers and acquisitions, particularly in the developed markets. Built on institutional theory, we specifically examine how political distance, representing host–home country differences in various attributes in the political environment, influences the speed of approval for EMNC acquisition in the United States. The findings suggest that a larger political distance between the United States and EMNCs home country reflects challenges for EMNCs to gain legitimacy in the United States, resulting in the longer time required for acquisition approval. The EMNCs' corporate political activity moderated this relationship in that more corporate political activity improves the legitimacy perception of EMNCs among political actors, decreasing the time required for acquisition approval.

This study draws upon the institutional-based view to examine how home country institutional voids affect the corporate social performance (CSP) of emerging market multinational corporations (EMNCs). We propose that home country institutional voids of EMNCs are positively related to CSP. We also argue that EMNCs' internationalization and visibility will further augment the above relationships. We tested our hypotheses using a sample of 89 EMNCs from 10 countries from 2009 to 2018 and found support for our arguments. Our findings show that EMNCs use CSP to overcome the liabilities of origin due to their home-country institutional voids. Internationalization and visibility increase the challenges of origin liabilities and EMNCs respond by enhancing their CSP. Our research adds to the existing knowledge base on institutional voids within the realm of international business.