Locational determinants of internationalization: A firm-level analysis of Chinese and Indian acquisitions

European Management Journal

Volumn 30, Issue 3, 2012, Pages 264-277

  De Beule, Filip ^a,b   Duanmu, Jing Lin ^c  

^a Lessius University College   (Belgium)

^b UNIVERSITY OF LEUVEN   (Belgium)

^c UNIVERSITY OF SURREY   (United Kingdom)

Author keywords

Acquisitions; Emerging country multinationals; Locational determinants

Indexed keywords

EID: 84861682216     PISSN: 02632373     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.emj.2012.03.006     Document Type: Article

References (61)

1. Aizenman J., Spiegel M.M. Institutional efficiency, monitoring costs and the investment share of FDI. Review of International Economics 2006, 14(4):683-697.
2. Alcacer J., Chung W. Location strategies and knowledge spillovers. Management Science 2007, 53(5):760-776.
3. Anwar A.I., Hasse R., Rabbi F. Location determinants of indian outward foreign direct investment: How multinationals choose their investment destinations? 2008, Copenhagen Business School Denmark.
4. Athreye S., Kapur S. Introduction: The internationalization of chinese and indian firms trends, motivations and strategy. Industrial and Corporate Change 2009, 18(2):209-221.
5. Baniak A., Cukrowksi J., Herczyñski J. On the determinants of foreign direct investment in transition economics. Problems of Economic Transition 2003, 48(2):6-28.
6. Barkema H.G., Vermeulen F. International expansion through start up or acquisition: A learning perspective. Academy of Management Journal 1998, 41(1):7-26.
7. Bénassy-Quésé A., Coupet M., Mayer T. Institutional determinants of foreign direct investment. World Economy 2007, 30(5):764-782.
8. Beugelsdijk S., Hennart J.F., Slangen A., Smeets R. Why and how FDI stocks are a biased measure of MNE affiliate activity. Journal of International Business Studies 2010, 41(9):1444-1459.
9. Bloningen B.A. A review of the empirical literature on FDI determinants. Atlantic Economic Journal 2005, 33(4):383-403.
10. The new global challengers: How 100 top companies from rapidly developing countries are changing the world 2006, BCG, Boston Consulting Group, Boston, MA.
11. Buckley P., Clegg J., Cross A., Liu X., Voss H., Zheng P. The determinants of Chinese outward foreign direct investment. Journal of International Business Studies 2007, 38(4):499-518.
12. Busse M., Hefeker C. Political risk, institutions and foreign direct investment. European Journal of Political Economy 2007, 23(2):397-415.
13. Chakrabarti A. The determinants of foreign direct investments: Sensitivity analyses of cross country regressions. Kyklos 2001, 54(1):89-114.
14. Child J., Rodriguez S.B. The internationalization of Chinese firms: A case for theoretical extension?. Management and Organization Review 2005, 1(3):381-410.
15. Cuervo-Cazurra A. Who cares about corruption?. Journal of International Business Studies 2006, 37(6):807-822.
16. Cuervo-Cazurra A., Genc M. Transforming disadvantages into advantages: Developing-country MNEs in the least developed countries. Journal of International Business Studies 2008, 39(6):957-979.
17. De Beule F., Van Den Bulcke D. China's opening up, from Shenzhen to Sudan. The new presence of China in Africa 2009, 31-52. Amsterdam University Press, Amsterdam. M. van Dijk (Ed.).
18. Deng P. Outward investment by Chinese MNCs: Motivations and implications. Business Horizons 2004, 47(3):8-16.
19. Duanmu J.-L., Guney Y. A panel data analysis of locational determinants of Chinese and Indian outward foreign direct investment. Journal of Asia Business Studies 2009, 3(2):1-15.
20. Duanmu J.-L. Firm heterogeneity and location choice of Chinese Multinational Enterprises (MNEs). Journal of World Business 2012, 47(1):64-72.
21. Dunning J.H. Explaining changing patterns of international production: in defence of the eclectic theory. Oxford Bulletin of Economics and Statistics 1979, 41(4):269-295.
22. Dunning J.H. Location and the multinational enterprise: Retrospective thoughts. Journal of International Business Studies 2009, 40(1):20-34.
23. Gammeltoft P. Emerging multinationals: outward FDI from the BRICS countries. International Journal of Technology and Globalization 2008, 4(1):5-22.
24. Gammeltoft P., Pradhan J.P., Goldstein A. Emerging multinationals: Home and host country determinants and outcomes. International Journal of Emerging Markets 2010, 5(3/4):254-265.
25. Gastanaga M.V., Nugent J.B., Pashamova B. Host country reforms and FDI inflows: How much difference do they make?. World Development 1998, 26(7):1299-1314.
26. Globerman S., Shapiro D. Governance infrastructure and US foreign direct investment. Journal of International Business Studies 2003, 34(1):19-39.
27. Gugler P., Boie B. The rise of Chinese multinational enterprises. Expansion of trade and FDI in Asia: Strategic and policy challenges 2008, 25-57. Routledge, Contemporary Asia Series, London. J. Chaisse, P. Gugler (Eds.).
28. Hong J. Firm heterogeneity and location choices: evidence from foreign manufacturing investments in China. Urban Studies 2009, 46(10):2143-2157.
29. Kaartemo, V. (2007). The Motives of Chinese Foreign Investments in the Baltic Sea Region. PEI Electronic Publications, No. 7/2007, Pan-European Institute.
30. Kaufmann D., Kraay A., Zoido P. Aggregating governance indicators 1999, Word Bank, Development Research Group.
31. KPMG (2010). World class aspirations: The perceptions and the reality of China outbound investment. http://www.kpmg.com/CN/en/IssuesAndInsights/ArticlesPublications/Documents/china-outbound-investment-201010.pdf.
32. Kravis I.B., Lipsey R.E. The location of overseas production and production for export by US multinational firms. Journal of International economics 1982, 12(3-4):201-223.
33. Krugman P. Scale Economics, Product Differentiation and the Pattern of Trade. The American Economic Review 1980, 70(5):950-959.
34. Kumar N. WTO regime, host country policies and global patterns of MNE activity: Implication of recent quantitative studies for india. Economic and Political Weekly 2001, 36(1):39-50.
35. Lall S. The investment development path: some conclusions. Foreign direct investment and governments, catalysts for economic restructuring 1996, 422-441. Routledge, London. J.H. Dunning, R. Narula (Eds.).
36. st century globalization. Asia Pacific Journal of Management 2006, 23:5-27.
37. McFadden D. Conditional logit model analysis of qualitative choice behavior. Frontier in econometrics 1974, 105-142. Academic Press, New York and London. P. Zarembka (Ed.).
38. Narula R., Dunning J.H. Multinational enterprises, development and globalization: Some clarifications and a research agenda. Oxford Development Studies 2010, 38(3):263-287.
39. Naudé W.A., Krugell W.F. Investigating geography and institutions as determinants of foreign direct investment in Africa using panel data. Applied Economic 2007, 39(10):1223-1233.
40. Pan E. China, Africa, and oil 2007, Council on Foreign Relations, New York and Washington.
41. Pistoresi B. Foreign direct investment and localization factors: Latin America and the Southeast Asia. Rivista di Politica Economica 2000, 90:27-44.
42. Poncet, S. (2007). Inward and Outward FDI in China. Working paper, Panthéon-Sorbonne-Economie, Université Paris I, CNRS and CEPII.
43. Pradhan, J.P. (2007). Trends and Patterns of Overseas Acquisitions by Indian Multinationals. ISID Working Paper No. WP2007/10, New Delhi: Institute for Studies in Industrial Development.
44. Pradhan J.P. Indian multinationals in the world economy: Implications for development 2008, Bookwell Publisher, New Delhi.
45. Pradhan, J.P. (2008b). Overcoming Innovation Limits through Outward FDI: The Overseas Acquisition Strategy of Indian Pharmaceutical Firms. MPRA Paper, No. 12362, Germany: University Library of Munich
46. Pradhan J.P. Emerging multinationals from India and China: Origin, impetus and growth. International competitiveness, globalization and multinationalization of firms: A comparison of China and India 2010, 95-135. Institute of Comparative Economic Studies, Hosei University, Tokyo, Japan. H. Esho, P. Xu (Eds.).
47. Pradhan J.P. Strategic asset-seeking activities of emerging multinationals: Perspectives on foreign acquisitions by Indian pharmaceutical MNEs. Organizations and Markets in Emerging Economies 2010, 2(2):9-31.
48. Pradhan J.P. Emerging multinationals: A comparison of Chinese and Indian outward FDI. International Journal of Institutions and Economies 2011, 3(1):113-148.
49. Rothstein B., Samanni M., Teorell J. Explaining the welfare state: Power resources vs. quality of government. European Political Science Review 2011, 1(1):1-28.
50. Rugman A.M., Li J. Will China's multinationals succeed globally or regionally?. European Management Journal 2007, 25(5):333-343.
51. Stein E., Daude C. Institutions, integration and the location of foreign direct investment 2001, Inter-American Development Bank, Washington, DC, United States.
52. UNCTAD (2005). Internationalization of Developing-Country enterprises through outward foreign direct investment. Expert Meeting on Enhancing Productive Capacity of Developing Country Firms through internationalization, Geneva: UNCTAD.
53. UNCTAD World investment report 2006, FDI from developing and transition economies: Implications for development 2006, United Nations, Geneva.
54. UNCTAD World Investment Report 2009 2009, Transnational Corporations, Agricultural Production and Development, United Nations, Geneva.
55. Van Agtmael A. The emerging market century: How a new breed of world-class companies is overtaking the world 2007, Free Press, New York.
56. Voss H. The determinants of mainland Chinese outward foreign direct investment 2011, Edward Elgar, Cheltenham.
57. Wang Q., Boateng A. Cross-border M&As by Chinese firms: An analysis of strategic motivation and performance. International Management Review 2007, 3(4):19-29.
58. Wei S.-J. Local corruption and global capital flows. Brookings Papers on Economic Activity 2000, 31(2):303-354.
59. Wells L. Third world multinationals: The rise of foreign investment from developing countries 1983, MIT Press, Canbridge.
60. Wu F. The globalization of corporate china 2005, The National Bureau of Asian Research.
61. Zhang J., Zhou C., Ebbers H. Completion of Chinese overseas acquisitions: Institutional perspectives and evidence. International Business Review 2011, 20(2):226-238.