The changing dynamics of Thai multinationals after the Asian economic crisis

Journal of International Management

Volumn 13, Issue 3, 2007, Pages 356-375

  Pananond, Pavida ^a  

^a THAMMASAT UNIVERSITY   (Thailand)

Author keywords

Asian financial crisis; Emerging multinationals; International expansion; Multinational enterprise; Networking capabilities; Thailand; Third world multinationals

Indexed keywords

EID: 34548065514     PISSN: 10754253     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.intman.2007.05.005     Document Type: Article

References (88)

1. Aggarwal R. The strategic challenge of third world multinationals: a new stage of the product life cycle of multinationals?. In: Farmer R.N. (Ed). Advances in International Comparative Management: A Research Annual vol. 1 (1984), JAI Press: Greenwich, Connecticut
2. Amsden A. Asia's Next Giant: South Korea and Late Industrialisation (1989), Oxford University Press:, Oxford and New York
3. Amsden A. Like the rest: South-East Asia's 'late' industrialization. Journal of International Development 7 5 (1995) 791-799
4. Amsden A. The Rise of "the Rest": Challenges to the West from Late-industrialising Economies (2001), Oxford University Press, Oxford
5. Amsden A., and Hikino T. Borrowing technology or innovating: an exploration of the two paths to industrial development. In: Thompson R. (Ed). Learning and Technological Change (1993), St. Martin's Press, New York
6. Amsden A., and Hikino T. Project execution capability, organisational know-how and conglomerate corporate growth in late industrialisation. Industrial and Corporate Change 3 1 (1994) 111-147
7. Andersen O. On the internationalisation process of firms: a critical analysis. Journal of International Business Studies (1993) 209-231 (second quarter)
8. Beausang F. Third World Multinationals: Engine of Competitiveness or New Form of Dependency? (2003), Palgrave Macmillan, Basingstoke
9. Brown R.A. Overseas Chinese investment in China - patterns of growth, diversification and finance: the case of Charoen Pokphand. The China Quarterly (1998) 610-636 (September)
10. Buckley P.J. The limits of explanation: testing the internalization theory of the multinational enterprise. Journal of International Business Studies 19 2 (1988) 181-193
11. Cantwell J., and Tolentino P.E. Technological Accumulation and Third World Multinationals Discussion Papers in International Investment and Business. No. 139 (1990), University of Reading, Reading
12. Corporate Thailand. May 1996, 12-80.
13. CP Group. 56-1 Information Disclosure Report (2004)
14. CP Pokphand. various years. Annual Report.
15. Deng P. Foreign investment by multinationals from emerging countries: The case of China. Journal of Leadership and Organizational Studies 10 2 (2003) 113-124
16. Dixon C. Post-crisis restructuring: foreign ownership, corporate resistance and economic nationalism in Thailand. Contemporary Southeast Asia 26 1 (2004) 45-72
17. Dunning J.H., van Hoesel H., and Narula R. Third world multinationals revisited: New developments and theoretical implications. Discussion Papers in International Investment and Management, Series B, No. 227 9 (1997), University of Reading, Reading
18. East Asia Analytical Unit. Overseas Chinese Business Networks in Asia (1995), Department of Foreign Affairs and Trade, Canberra, Australia
19. Enderwick P. What's bad about crony capitalism?. Asian Business & Management 4 2 (2005) 117-132
20. Furman J., and Stiglitz J.E. Economic crises: evidence and insights from East Asia. Brookings Papers on Economic Activity 2 (1998) 1-114
21. Ghemawat P., and Khanna T. The nature of diversified business groups: a research design and two case studies. Journal of Industrial Economics 96 1 (1998) 35-61
22. Granovetter M. Economic action and social structure: the problem of embeddedness. American Journal of Sociology 91 3 (1985) 481-510
23. Granovetter M. Problems of explanation in economic sociology. In: Nohria N., and Eccles R.G. (Eds). Networks and Organisations (1992), Harvard Business School Press, Boston, Mass
24. Granovetter M. Coarse revisited: business groups in the modern economy. Industrial and Corporate Change 4 1 (1995) 93-130
25. Hikino T., and Amsden A. Staying behind, stumbling back, sneaking up, soaring ahead: late industrialization in historical perspectives. In: Baumol W.J., Nelson R.R., and Wolff E.N. (Eds). Convergence of Productivity: Cross-national Studies and Historical Evidence (1994), Oxford University Press, Oxford
26. Jones G.G. The Evolution of International Business: An Introduction (1996), Routledge, London
27. Kao J. The worldwide web of Chinese business. Harvard Business Review (1993) 24-36 (March-April)
28. Ketkaewmaneerat, B., 1993. Diversification Behaviour of the Siam Cement Group (in Thai). Unpublished MA Thesis, Thammasat University: Bangkok.
29. Khanna T., and Palepu K. Why focused strategies may be wrong for emerging markets. Harvard Business Review (1997) 41-51 (July-August)
30. Khanna T., and Palepu K. The right way to restructure conglomerates in emerging markets. Harvard Business Review 77 4 (1999) 125-135
31. Khanna T., and Palepu K. The future of business groups in emerging markets: long-run evidence from Chile. Academy of Management Journal 43 3 (2000) 268-285
32. Khanna T., Palepu K., and Sinha J. Strategies that fit emerging markets. Harvard Business Review 83 6 (2005) 63-76
33. Kumar K. Third world multinationals: a growing force in international relations. International Studies Quarterly 26 (1982) 397-424
34. Lall S. The rise of multinationals from the Third world. Third World Quarterly 5 3 (1983) 618-626
35. Lall S. The New Multinationals: The Spread of Third World Enterprises (1983), John Wiley & Sons, New York
36. Lecraw D. Direct investment by firms from less developed countries. Oxford Economic Papers 29 3 (1977) 442-457
37. Lecraw D.J. Internationalization of firms from LDCs: Evidence from the ASEAN region. In: Kumar K., and McLeod M.G. (Eds). Multinationals from Developing Countries (1981), D.C.Heath: Lexington, Mass
38. Lecraw D. Outward direct investment by Indonesian firms: motivations and effects. Journal of International Business Studies Third Quarter (1993) 589-600
39. Li P.P. Strategy profiles of indigenous MNEs from NIEs: the case of South Korea and Taiwan. International Executive 36 2 (1994) 147-170
40. Li P.P. The evolution of multinational firms from Asia: a longitudinal study of Taiwan's Acer Group. Journal of Organizational Change Management 11 4 (1998) 321-337
41. Li P.P. Toward a geocentric theory of multinational evolution: the implications from the Asian MNEs as latecomers. Asia Pacific Journal of Management 20 2 (2003) 217-242
42. Lim L. The evolution of Southeast Asian business systems. Journal of Asian Business 12 1 (1996) 51-74
43. Limlingan V.S. The Overseas Chinese in ASEAN: Business Strategies and Management Practices (1986), Vita Development Corporation, Manila
44. Mathews J.A. Dragon Multinational: A New Model for Global Growth (2002), Oxford University Press; Oxford
45. Melin L. Internationalisation as a strategy process. Strategic Management Journal 13 (1992) 99-118 (Special Issue)
46. O'Brien P. The new multinationals: developing-country firms in international markets. Futures (1980) 303-316
47. Ouyanont P. The Crown Property Bureau and its business investment (in Thai). In: Phongpaichit P. (Ed). The Fight of Thai Capitals: Politics and Culture of Survival (in Thai) (2006), Matichon Publishing, Bangkok
48. Pananond, P. 2001a. The Making of Thai Multinationals: The Internationalisation Process of Thai Firms. Unpublished PhD Thesis, University of Reading: Reading.
49. Pananond P. The making of Thai multinationals: a comparative study of Thailand's CP and Siam Cement groups. Journal of Asian Business 17 3 (2001) 41-70
50. Pananond P. The international expansion of Thailand's Jasmine Group: Built on Shaky Ground. In: Bhopal M., and Hitchcock M. (Eds). Asean Business in Crisis (2002), Frank Cass, London
51. Pananond P. Thai Multinationals after the crisis: Trends and prospects. ASEAN Economic Bulletin 21 1 (2004) 106-126
52. Pananond P. The changing dynamics of Thailand CP Group's international expansion. In: Suryadinata L. (Ed). Southeast Asia's Businesses in an Era of Globalisation: Coping with the Rise of China (2006), Institute of Southeast Asian Studies (ISEAS), Singapore
53. Pananond P., and Zeithaml C.P. The international expansion process of MNEs from developing countries: a case study of Thailand's CP group. Asia Pacific Journal of Management 15 2 (1998) 163-184
54. Pangarkar N. The Asian Multinational Corporation: Evolution, Strategy, Typology and Challenges. In: Leung K., and White S. (Eds). Handbook of Asian Management (2004), Kluwer Academic Publishers, Dordrecht, Netherlands
55. Peng M.W. Institutional transitions and strategic choices. Academy of Management Review 28 2 (2003) 275-290
56. Peng M.W., and Zhou J.Q. How network strategies and institutional transitions evolve in Asia. Asia Pacific Journal of Management 22 (2005) 321-336
57. Phujadkarn Rai Duen [Manager Monthly]. February 2000. CP in the 21st Centurey: Dhanin Chearavanont's last task (in Thai).
58. Phujadkarn Rai Duen [Manager Monthly]. March 2005. CP: When the chef comes up front (in Thai).
59. Redding G. Overseas Chinese networks: Understanding the enigma. Long Range Planning 28 1 (1995) 61-69
60. Redding S.G. The Spirit of Chinese Capitalism (1990), Walter de Gruyter, New York
61. Siam Cement Group. Annual Report (1998)
62. Siam Cement Group. 56-1 Information Disclosure Report (2003)
63. Siam Cement Group. The Siam Cement Group Facts Book (2005)
64. Suehiro A. Capital Accumulation in Thailand 1855- 1985 (1989), Silkworm Books, Chiang Mai
65. Suehiro A. Capitalist development in post-war Thailand: Commercial bankers, industrial elite, and agribusiness groups. In: McVey R. (Ed). Southeast Asian Capitalists (1992), Cornell University, Ithaca
66. The Nation. 28 July 1998.
67. Tolentino P.E.E. Technological Innovation and Third World Multinationals (1993), Routledge, London
68. Ulgado F.M., Yu C.-M.J., and Negandhi A.R. Multinational enterprises from Asian developing countries: management and organisational characteristics. International Business Review 3 2 (1994) 123-133
69. Unger D. Building social capital in Thailand: Fibers, finance and infrastructure (1998), Cambridge University Press, Cambridge
70. UNCTAD. World Investment Report 2005: Transnational Corporations and the Internationalization of R&D (2005), United Nations, New York and Geneva
71. UNCTAD. World Investment Report 2006 FDI from Developing and Transition Economies: Implications for Development (2006), United Nations, New York and Geneva
72. Vachratith V. Thai investment abroad. Bangkok Bank Monthly Review 33 (1992) 10-21 (April)
73. Van de Ven A.H. The context-specific nature of competence and corporate development. Asia Pacific Journal of Management 21 (2004) 123-147
74. van Hoesel R. New Multinational Enterprises from Korea and Taiwan. Beyond Export-led Growth (1999), Routledge, London
75. Vernon-Wortzel H., and Wortzel L.H. Globalizing strategies for multinationals from developing countries. Columbia Journal of World Business (1988) 27-35 (Spring)
76. Wade R. Governing the Market: Economic Theory and the Role of Government in East Asian Industrialization (1990), Princeton University Press, Princeton, NJ
77. Weidenbaum M., and Hughes S. The bamboo network: How expatriate Chinese entrepreneurs are creating a new economic superpower in Asia (1996), The Free Press, New York
78. Wells L.T. The internationalisation of firms from developing countries. In: Agmon T. (Ed). Multinationals from Small Countries (1977), MIT Press, Cambridge, Mass
79. Wells L.T. Foreign investors from the Third world. In: Kumar K., and McLeod M.G. (Eds). Multinationals from Developing Countries (1981), D.C.Heath, Lexington, Mass
80. Wells L.T. Third World Multinationals: The Rise of Foreign Investment from Developing Countries (1983), MIT Press, Cambridge, Mass
81. Whitley R. Business Systems in East Asia: Firms, Markets and Societies (1992), Sage, London
82. Whitley R. Divergent Capitalisms: The Social Structuring and Change of Business Systems (1999), Oxford University Press, Oxford
83. Yeung H. Third world multinationals revisited: A research critique and future agenda. Third World Quarterly 15 2 (1994) 297-317
84. Yeung H. Transnational Corporations and Business Networks (1998), Routledge, London
85. Yeung H. Chinese Capitalism in a Global Era (2004), Routledge, London
86. Yeung H. The dynamics of Southeast Asian Chinese business. In: Yeung H. (Ed). Handbook of Research on Asian Business (2007), Edward Elgar, Cheltenham, UK
87. Yin R.K. Case Study Research: Design and Methods (1994), Sage Publications, Thousand Oaks, CA
88. Zhang Y. China's Emerging Global Businesses: Political Economy and Institutional Investigations (2003), Palgrave Macmillan, Basingstoke