Hostname: page-component-cd9895bd7-hc48f Total loading time: 0 Render date: 2024-12-24T02:58:38.941Z Has data issue: false hasContentIssue false
  • English
  • Français

The Role of Contextual Combinations in the Globalization of Chinese Firms

Published online by Cambridge University Press:  25 June 2015

John Child  and
Svetla Marinova
John Child
Affiliation:
University of Birmingham, UK University of Plymouth, UK Lingnan University, China Sun Yat-sen University, China
Svetla Marinova
Affiliation:
Aalborg University, Denmark
Get access Rights & Permissions [Opens in a new window]

Abstract

This paper argues that it is crucial to take account of both home and host country contexts in order, adequately, to understand their implications for Chinese enterprises investing into foreign countries. This calls for an analysis that is sensitive to both home and host country contexts, and that takes into account how the institutions and political systems in those contexts establish institutional and resource capital needs for the overseas-investing firm. We discuss and illustrate three different combinations of Chinese and host country characteristics, and the firm-level learning and adaptation required in the light of the relevant capitals likely to be available to Chinese firms. The analysis draws upon insights from resource-based, institutional, and political perspectives. While it is developed with specific reference to China, we also suggest that this form of analysis can be applied more generally to the implementation of outward foreign direct investment from any country.

摘要

摘要

本文认为，同时考虑原籍国和东道国的情境对中国在外投资企业的影响是至关重要的。这就呼吁一种对原籍国和东道国的情境都很敏感的分析，这种分析考虑在那些情境下制度和政治体系如何建立海外投资企业所需要的制度和资源资本。我们探讨和展示了三种不同的中国和东道国特点的组合，以及中国企业现有的、相关资本要求的企业层次的学习和适应。这个分析基于资源依赖、制度的和政治的视角。虽然它是以中国为具体的参照而建立起来的，但我们也认为这种形式的分析能够被更广泛地用于任何国家的海外直接投资企业的实施。

Keywords

Chinacontexthome countryhost countryinstitutional capitalresource capital中国情境原籍国东道国制度资本资源资本
Type
Forum Article
Information
Management and Organization Review , Volume 10 , Issue 3 , November 2014 , pp. 347 - 371
Copyright
Copyright © International Association for Chinese Management Research 2014

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Ake, C. 1975. A definition of political stability. Comparative Politics, 7(2): 271–283.CrossRefGoogle Scholar
Alon, I., Child, J., Li, S., & McIntyre, J. R. 2011. Globalization of Chinese firms: Theoretical universalism or particularism. Management and Organization Review, 7(2): 191–200.CrossRefGoogle Scholar
Alon, T. M. 2010. Institutional analysis and the determinants of Chinese FDI. The Multinational Business Review, 18(3): 1–24.CrossRefGoogle Scholar
Barley, S. R. 2010. Building an institutional field to corral a government. Organization Studies, 31(6): 777–805.CrossRefGoogle Scholar
Bastholm, A., & Kragelund, P. 2009. State-driven Chinese investments in Zambia: Combining strategic interests and profits. In Van Dijk, M. P. (Ed.), The new presence of China in Africa: 117–140. Amsterdam: Amsterdam University Press.Google Scholar
Boisot, M. 1986. Markets and hierarchies in a cultural perspective. Organization Studies, 7(2): 135–158.CrossRefGoogle Scholar
Boisot, M., & Meyer, M. W. 2008. Which way through the open door? Reflections on the internationalization of Chinese firms. Management and Organization Review, 4(2): 349–365.CrossRefGoogle Scholar
Boston Consulting Group. 2011. BCG global challengers: Companies on the move: Rising stars from rapidly developing economies are reshaping global industries. Boston, MA: Boston Consulting Group.Google Scholar
Brautigam, D. 2010. The dragon’s gift. Oxford: Oxford University Press.Google Scholar
Buckley, P. J., Clegg, J. L., Cross, A. R., Xin, L., Voss, H., & Zheng, P. 2007. The determinants of Chinese outward foreign direct investment. Journal of International Business Studies, 38(4): 499–518.CrossRefGoogle Scholar
Child, J., & Rodrigues, S. B. 2005. The internationalization of Chinese firms: A case for theoretical extension? Management and Organization Review, 1(3): 381–410.CrossRefGoogle Scholar
Child, J., & Rodrigues, S. B. 2011. How organizations engage with external complexity: A political action perspective. Organization Studies, 32(6): 803–824.CrossRefGoogle Scholar
Child, J., Tse, K.-T., & Rodrigues, S. B. 2013. The dynamics of corporate co-evolution. Cheltenham: Edward Elgar.CrossRefGoogle Scholar
Davies, K. 2013. China investment policy: An update. OECD Working Papers on International Investment, 2013/1. Paris: OECD Publishing. [Cited August 10, 2014.]. Available from URL: http://dx.doi.org/10.1787/5k469l1hmvbt-en CrossRefGoogle Scholar
Dunning, J. H. 2000. The eclectic paradigm as an envelope for economic and business theories of MNE activity. International Business Review, 9(2): 163–190.CrossRefGoogle Scholar
Dunning, J. H. 2006. Comment on dragon multinationals: New players in 21st century globalization. Asia Pacific Journal of Management, 23(2): 139–141.CrossRefGoogle Scholar
Economist Intelligence Unit. 2009. Political instability index. London. [Cited 11 August 2014.] Available from URL: http://viewswire.eiu.com/site_info.asp?info_name=social_unrest Google Scholar
Faucon, B., & Su, S. 2010. Hostility toward workers cools Angola–China relationship. Wall Street Journal, August 10: 14–15.Google Scholar
Globerman, S., & Shapiro, D. 2009. Economic and strategic considerations surrounding Chinese FDI to the United States. Asia Pacific Journal of Management, 26(1): 163–183.CrossRefGoogle Scholar
Guo, X. 2008. Managing marketing practices in asymmetrical institutional duality: Evidence from British and Chinese MNC subsidiaries. Unpublished PhD thesis, University of Strathclyde, Glasgow, UK.Google Scholar
Hanemann, T., & Rosen, D. H. 2011. Chinese FDI in the United States is taking off: How to maximize its benefits? Columbia FDI Perspectives, no. 49, October 24.Google Scholar
Harding, H. 2011. China: Political stability amid Jasmine revolutions? Washington DC: The Asia Foundation. [Cited 11 August 2014.] Available from URL: http://asiafoundation.org/in-asia/2011/05/04/china-political-stability-amid-jasmine-revolutions/ Google Scholar
Li, P. P. 2007. Toward an integrated theory of multinational evolution: The evidence of Chinese multinational enterprises as latecomers. Journal of International Management, 13: 296–318.CrossRefGoogle Scholar
Li, Q. 2009. Democracy, autocracy, and expropriation of foreign direct investment. Comparative Political Studies, 42(8): 1098–1127.Google Scholar
Lin, N. 2011. Capitalism in China: A centrally management capitalism (CMC) and its future. Management and Organization Review, 7(1): 63–96.CrossRefGoogle Scholar
Lucas, R. E. 1990. Why doesn’t capital flow from rich to poor countries? American Economic Review, 80: 92–96.Google Scholar
Luo, Y., & Tung, R. 2007. International expansion of emerging market enterprises: A springboard perspective. Journal of International Business Studies, 38: 481–498.CrossRefGoogle Scholar
Luo, Y., Xue, Q., & Han, B. 2010. How emerging market governments promote outward FDI: Experience from China. Journal of World Business, 45(1): 68–79.Google Scholar
Makino, S. 2013. Three perspectives for international business research in Asia. Unpublished paper, Chinese University of Hong Kong.Google Scholar
March, J. G. 1991. Exploration and exploitation in organizational learning. Organization Science, 2(1): 71–87.CrossRefGoogle Scholar
Marinov, M., & Marinova, S. (Eds.). 2011. Internationalization of emerging economies and firms. Basingstoke: Palgrave Macmillan.CrossRefGoogle Scholar
Marinova, S., Child, J., & Marinov, M. 2011. Evolution of firm- and country-specific advantages and disadvantages in the process of Chinese firm internationalization. Advances in International Management, 24: 235–269.Google Scholar
Mathews, J. A. 2006. Dragon multinationals: New players in 21st century globalization. Asia Pacific Journal of Management, 23(1): 5–27.CrossRefGoogle Scholar
Ministry of Commerce. 2011. 2010 statistical bulletin of China’s outward foreign direct investment. Beijing.Google Scholar
Ministry of Commerce. 2012. Review IV on commercial achievements since 16th CPC National Congress: Leap-forward development in foreign investment cooperation and preliminary establishment of policy service system. 9 November. [Cited 11 August 2014.] Available from URL: http://english.mofcom.gov.cn/aarticle/counselorsreport/internationalorganization/201211/20121108427828.html Google Scholar
Narula, R. 2006. Globalization, new ecologies, new zoologies, and the purported death of the eclectic paradigm. Asia Pacific Journal of Management, 23(2): 143–151.CrossRefGoogle Scholar
O’Neill, D. C. 2009. China’s support for investment in Kazakhstan: Good neighbor, good economics or good geopolitics? Scholar Research Brief, October. [Cited 11 August 2014.] Available from URL: http://www.irex.org/system/files/O’Neill.pdf Google Scholar
Oliver, C. 1997. Sustainable competitive advantage: Combining institutional and resource-based views. Strategic Management Journal, 18(9): 697–713.3.0.CO;2-C>CrossRefGoogle Scholar
Peoples’ Bank of China. 2011. China’s balance-of-payments (BOP) statistics. [Cited 12 August 2014.] Available from URL: http://www.safe.gov.cn Google Scholar
Ramamurti, R., & Singh, J. V. (Eds.). 2009. Emerging multinationals in emerging markets. Cambridge, UK: Cambridge University Press.CrossRefGoogle Scholar
Reuters. 2011. Huawei hires ex-UK info chief as global cyber security. August 2.Google Scholar
Rodrigues, S. B. 2010. Towards a new agenda for the study of business internationalisation: Integrating markets, institutions and politics. Inaugural address, Erasmus University, Rotterdam, June 17.Google Scholar
Rosen, D., & Hanemann, T. 2012. The rise in Chinese overseas investment and what it means for American businesses. China Business Review, July 5.Google Scholar
Rugman, A. M. 2009. Theoretical aspects of MNEs from emerging markets. In Ramamurti, R. & Singh, J. V. (Eds.), Emerging multinationals in emerging markets: 42–63. Cambridge, UK: Cambridge University Press.Google Scholar
Rugman, A. M., & Li, J. 2007. Will China’s multinationals succeed globally or regionally? European Management Journal, 25(5): 333–343.CrossRefGoogle Scholar
Salidjanova, N. 2011. Going out: An overview of China’s outward foreign direct investment. Washington, DC: US-China Economic & Security Review Commission.Google Scholar
Salomon, R., & Wu, Z. 2012. Institutional distance and local isomorphism strategy. Journal of International Business Studies, 43(4): 343–367.CrossRefGoogle Scholar
Sauvant, K. P. 2011. Conversation between Karl Sauvant and Thilo Haneman quoted in Asia Times Online . August 2, quoted in Benjamin A. Shobert, US faces open-door challenge. [Cited 11 November 2013.] Available from URL: http://www.atimes.com/atimes/China_Business/MH02Cb02.html Google Scholar
Schuman, M. 2010. Lenovo’s legend returns. Time Magazine, May 10. [Cited November 11, 2013.] Available from URL: http://www.time.com/time/magazine/article/0,9171,1986004,00.html Google Scholar
Scott, M. 2009. Controversy swirls around Rio Tinto-Chinalco deal. Business Week, March 17. [Cited 11 November 2013.] Available from URL: http://www.businessweek.com/blogs Google Scholar
Scott, W. R. 2001. Institutions and organizations. Thousand Oaks, CA: Sage.Google Scholar
Tengri News. 2012. China’s investments to Kazakhstan standing at $13 billion. July 14. [Cited 11 November 2013.] Available from URL: http://en.tengrinews.kz/finance/Chinas-investments-to-Kazakhstan-standing-at13-billion-11706 Google Scholar
The Economist. 2013. China’s outward investment: The second wave. 26 October.Google Scholar
The Heritage Foundation. 2012. China’s Global Reach: China global investment tracker. [Cited 12 November 2013.] Available from URL: http://www.heritage.org/research/projects/china-global-investment-tracker-interactive-map Google Scholar
UNCTAD [United Nations Conference on Trade and Development] 2012. World Investment Report 2012. New York: UNCTAD.Google Scholar
UNCTAD [United Nations Conference on Trade and Development] 2013. World Investment Report 2013. New York: UNCTAD.Google Scholar
US House of Representatives. 2012. Investigative report on the U.S. National Security Issues posed by Chinese telecommunications companies Huawei and ZTE. Washington, DC: October 8.Google Scholar
Van Dijk, M. P. (Ed.). 2009. The new presence of China in Africa. Amsterdam: Amsterdam University Press.CrossRefGoogle Scholar
Wang, C., Hong, J., Kafouros, M., & Wright, M. 2012. Exploring the role of government involvement in outward FDI from emerging economies. Journal of International Business Studies, 43(7): 655–676.CrossRefGoogle Scholar
Whetten, D. A. 2009. An examination of the interface between context and theory applied to the study of Chinese organizations. Management and Organization Review, 5(1): 29–55.Google Scholar
Williamson, P. J., & Raman, A. P. 2011. How China reset its global acquisition agenda. Harvard Business Review, 89(4): 109–114.Google Scholar
Witt, M. A., & Lewin, A. Y. 2007. Outward foreign direct investment as escape response to home country institutional constraints. Journal of International Business Studies, 38(4): 579–594.CrossRefGoogle Scholar
World Bank. 2013a. The Worldwide Governance Indicators (WGI) project: Political stability and absence of violence. [Cited 19 October 2014.] Available from URL: http://info.worldbank.org/governance/wgi/index.aspx#reports Google Scholar
World Bank. 2013b. Doing business 2014. Washington, DC: World Bank & International Finance Corporation. [Cited 11 August 2014.] Available from URL: http://www.doingbusiness.org/reports/global-reports/doing-business-2014 Google Scholar
Zhang, J., Zhou, C., & Ebbers, H. 2010. Completion of Chinese overseas acquisitions: Institutional perspectives and evidence. International Business Review, 20(2): 226–238.Google Scholar