1,721,128 research outputs found
The choice of master international franchising: A modified transaction cost model
No full textThis study develops and tests a novel transaction cost model of master international franchising. Based on data from international franchise firms headquartered in six countries, we show that master international franchising is the franchisor’s preferred governance mode under the following conditions: large bilateral franchisor’s and franchisees’ transaction-specific investments, high institutional uncertainty and high behavioral uncertainty. Our model extends the literature by presenting a modified transaction cost model of master international franchising that investigates the bonding effect of bilateral transaction-specific investments and environmental uncertainty as determinants of the franchisor’s choice of international governance mode. In addition, by using primary data from international franchise companies, our study contributes to the transaction cost literature in international business and international franchising that is mainly based on secondary data
Growth of Made-in-China Multinationals: An Institutional and Historical Perspective
No full textBy the mid-1990s, China became the largest outward investor among emerging\ud
countries and the eighth largest supplier of outward investment among\ud
all countries (The World Bank, 1997). However, the momentum did not\ud
really become apparent until the late 1990s, when the Chinese government\ud
launched the "Go Global" strategy in 1999, followed by a series of international\ud
expansion activities by companies such as Haier Electronics Group\ud
and Shanghai International Securities Co. Recently, the world has witnessed\ud
a number of high-profile cases of Chinese firms acquiring, or attempting to\ud
acquire, well-known firms in North America and Europe. Examples include\ud
Lenovo, the leading Chinese PC maker, acquiring the IBM PC division and\ud
TCL, the leading Chinese electronics company, acquiring a majority interest\ud
in the television division of France's Thomson SA and the handset division\ud
of France's Alcatel SA. Commentators have suggested that even recent unsuccessful\ud
high-profile bids (Haier for Maytag and CNOOC for Unocal) "reflect\ud
China's global ambitions" (Hemerling, 2006)
Determinants of master international franchising
No full textInternational franchise firms can be governed by equity and non-equity governance modes. This chapter provides an analysis of the major determinants of master international franchising (as non-equity mode) from international strategy, resource-based and organizational capabilities, and transaction cost and agency perspectives respectively. The conceptual model summarizes the impact of strategic, asset-specific, environmental as well as behavioural factors on the franchisor’s choice of master international franchising. Albeit focusing on master international franchising, the chapter’s propositions may also be applied to franchise expansion with other low control modes. The chapter shows that the right franchise mode choice is a critical task based on multiple determinants which influence the success of the international franchise chains. It may assist franchisors, franchise network partners and policy makers in analysing the conditions of master international franchising in the target country and applying efficient governance modes for successful expansion of the franchise brand into host countries
Dynamic Embeddedness in Chinese Firm Internationalization
No full texthis article presents a multilevel framework to analyze the motivations and location choices of Chinese OFDIs. We contribute to theory-integration on Chinese OFDI flows and patterns by suggesting a framework that combines country-, industry- and firm-level analyses and by reflecting aspects from the resource-based view (firm-specific advantages), institutional-based view (push/pull home- and host-country factors), and network-based view (network relations). We also explicitly incorporate “time” as a variable into our framework by introducing and explaining the concept of dynamic embeddedness as an interaction dimension to reflect the inherent dynamics on all levels and actor
Global Marketing. Strategy, Practice, and Cases [3. edition]
No full textThis book describes different challenges that require a marketer to think strategically and apply tools and techniques creatively in order to respond decisively within a fiercely competitive environment. Empirical cases support the theory with indepth analysis of companies' strategies
Chinese M & A in Europe: Emerging market multinational in the heavy construction industry
No full textPurpose
– This paper aims to examine the global competitiveness of an emerging market multinational (EMM) from China through the case of a major European acquisition, in Italy, in the heavy construction industry. Country- and firm-specific factors are considered. Horizontal integration in this oligopolistic industry changes the industry dynamics, with significant implications for its players.
Design/methodology/approach
– The paper follows case study methodology and triangulates data through a literature review, an examination of available company data and interviews of key personnel. Firm- and country-specific factors, both advantages and disadvantages, including the business environment in the construction industry, globally and regionally, are analyzed.
Findings
– The paper identifies several key success factors at the firm level, including the integration of research and development, marketing and sales; the development of extensive communication and trust among the managers of both companies; the exploitation of the Chinese market as a source of demand; and the shifting of selected production lines to the Chinese market.
Research limitations/implications
– The traditional models of country-specific advantages/disadvantages and firm-specific advantages/disadvantages are augmented by examining the host market and industry task environments. Host country-specific factors for successful integration include favorable local conditions, both in terms of endowments and institutions, and an industrial cluster with supporting firms and services.
Practical implications
– Following the case study, managers can refer to the key success factors to emulate “best practices”. The paper concludes with a heuristic developed by the Chairman of Zoomlinon, Chunxin Zhan, underlining five principles for a successful EEM acquisition: understanding, sharing, responsibility, compliance and coordination.
Originality/value
– This paper develops a deep case study analysis and provides useful theoretical and practical implications with reference to Chinese acquisition in the Western markets
Global marketing: contemporary theory, practice, and cases
No full textInternational markets present different challenges that require a marketer to think strategically, and apply tools and techniques creatively in order to respond decisively in a fiercely competitive environment. This book analyzes theory and cases regarding: Small and medium enterprises, as well as multinational corporations, where much of the growth in international trade and global marketing has occurred, with a focus on emerging markets.
Social media, innovation, and technology have been introduced to incorporate these new tools into marketing strategy. Furthermore, sustainability, ethics, and corporate social responsibility are described as key values for any modern business. Short and long cases and examples throughout the book show how these principles and techniques are applied in the real world
Greenfield FDI attractiveness index: a machine learning approach
Full text linkPurpose – This study aims to propose a comprehensive greenfield foreign direct investment (FDI) attractiveness index using exploratory factor analysis and automated machine learning (AML). We offer offer a robust empirical measurement of location-choice factors identified in the FDI literature through a novel method and provide a tool for assessing the countries’ investment potential. Design/methodology/approach – Based on five conceptual key sub-domains of FDI, We collected quantitative indicators in several databases with annual data ranging from 2006 to 2019. This study first run a factor analysis to identify the most important features. It then uses AML to assess the relative importance of each resultant factor and generate a calibrated index. AML computational algorithms minimize predictive errors, explore patterns in the data and make predictions in an empirically robust way. Findings – Openness conditions and economic growth are the most relevant factors to attract FDI identified in the study. Luxembourg, Hong Kong, Singapore, Malta and Ireland are the top five countries with the highest overall greenfield attractiveness index. This study also presents specific indices for the three sectors: energy, financial services, information and communication technology (ICT) and electronics. Originality/value – Existent indexes present deficiencies in conceptualization and measurement, lacking theoretical foundation, arbitrary selection of factors and use of limited linear models. This study’s index is developed in a robust three-stage process. The use of AML configures an advantage compared to traditional linear and additive models, as it selects the best model considering the predictive capacity of many models simultaneously
Predictors of applying for and winning an ERC Proof-of-Concept grant: An automated machine learning model
Full text linkResearch often fails to be translated into applications because of lack of financial support. The Proof of Concept (PoC) funding scheme from the European Research Council (ERC) supports the early stages of the valorization process of the research conducted by its grantees. This article explores the factors that predict who will apply for ERC grants and which grant proposals will prove successful. By combining information from two datasets of 10,074 ERC grants (representing 8361 individual grantees) and 2186 PoC proposals, and using automated machine learning, we can identify the main predictors of the propensity to apply and to win. Doing so fills a void in the literature on likelihood to apply. The results reveal major differences between potential and actual beneficiaries, due to decisions about applying for a grant and evaluations of the proposals. The decision to apply is affected by the interaction between the characteristics of the PoC funding scheme, the ERC grantee, and his/her environment. Grantees in countries that invest little in innovation, with low cost of personnel, and strong collaboration in innovation are more likely to apply. Male grantees are more likely to apply but have similar chances of winning as women
Marketing internazionale. Strategie, principi e applicazioni
No full textI mercati internazionali presentano ai marketing managers sfide diverse e complesse che richiedono di pensare in modo strategico e di applicare in modo creativo gli strumenti e le tecniche disponibili per crescere. Il volume Marketing Internazionale: Strategie, Principi e Applicazioni ha l’obiettivo di fornire conoscenze approfondite che coniugano una solida teoria di marketing internazionale con la pratica descritta nella condotta di tante imprese che giocano, ogni giorno, la loro partita di business nei mercati maturi e in quelli emergenti.
Aziende provenienti da ogni angolo del mondo forniscono agli studenti numerosi esempi di successi e fallimenti. Tuttavia, le grandi protagoniste di questo libro sono le esperienze di tante imprese italiane che hanno affrontato il processo di espansione sui mercati esteri: casi esemplari di come un paese, tutto sommato piccolo come il nostro, abbia i suoi atouts da spendere
- …
