Local complementary inputs as drivers of entry mode choices: The case of US investments in Brazil

International Business Review

Volumn 24, Issue 3, 2015, Pages 466-475

  Hennart, Jean François ^a,b,c,d   Sheng, Hsia Hua ^e   Pimenta, Gustavo ^f  

^a UNIVERSITY OF PAVIA   (Italy)

^b QUEEN'S UNIVERSITY BELFAST   (United Kingdom)

^c SINGAPORE MANAGEMENT UNIVERSITY   (Singapore)

^d TILBURG UNIVERSITY   (Netherlands)

^e FUNDAÇÃO GETÚLIO VARGAS   (Brazil)

^f AES Brasil   (Brazil)

Author keywords

Acquisition; Bundling model; Entry mode; Expansion mode; Greenfield; Internationalization; Joint venture; MNEs; Wholly owned subsidiary

Indexed keywords

EID: 84926389667     PISSN: 09695931     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.ibusrev.2014.10.005     Document Type: Article

References (42)

1. Amado G., Vinagre Brasil H. Organizational behaviour and cultural context: The Brazilian 'jeitinho'. International Studies of Management and Organization 1991, 21(3):38-61.
2. Anderson E., Gatignon H. Modes of foreign entry: A transaction cost analysis and proposition. Journal of International Business Studies 1986, 17(3):1-26.
3. Andersson T., Svensson R. Entry modes for direct investment determined by the composition of firm-specific skills. Scandinavian Journal of Economics 1994, 96(4):551-560.
4. Barkema H., Vermeulen F. International expansion through start-up or acquisition: A learning perspective. Academy of Management Journal 1998, 41(1):7-26.
5. Biggadike E.R. Corporate diversification: Entry, strategy, and performance 1979, Harvard University Press, Cambridge, MA.
6. Brouthers K.D. The influence of international risk on entry mode strategy. Management International Review 1995, 35(1):7-28.
7. Brouthers K., Brouthers L. Acquisition or greenfield start-up? Institutional, cultural and transaction cost influences. Strategic Management Journal 2000, 21(1):89-97.
8. Brouthers K., Hennart J.-F. Boundaries of the firm: Insights from international entry mode research. Journal of Management 2007, 33(3):395-425.
9. Caves R., Mehra S. Entry of foreign multinationals into US manufacturing industries. Competition in global industries 1986, 449-481. Harvard Business School Press, Boston, MA. M. Porter (Ed.).
10. Chari M.D.R., Chang K.Y. Determinants of the share of equity sought in crossborder acquisitions. Journal of International Business Studies 2009, 40(8):1277-1297.
11. Dow D., Larimo J. Disentangling the roles of international experience and distance in establishment mode choice. Management International Review 2011, 51:321-355.
12. Dunning J. The theory of international production. The International Trade Journal 1988, 3(1):21-66.
13. Dunning J., Lundan S. Multinational enterprises and the global economy 2008, Edward Elgar, Cheltenham.
14. Estrin S., Hughes K., Todd S. Foreign direct investment in Central and Eastern Europe 1997, Pinter, London.
15. Estrin S., Prevezer M. The role of informal institutions in corporate governance: Brazil, Russia, India and China compared. Asia Pacific Journal of Management 2011, 28:41-67.
16. Eswaran M., Kotwal A. A theory of contractual structure in agriculture. American Economic Review 1985, 75(3):352-367.
17. Fleury A., Fleury M. Brazilian multinationals: Surfing the waves of internationalization. Emerging multinationals in emerging markets 2009, Cambridge University Press, Cambridge. R. Ramamurti, J. Singh (Eds.).
18. Fosgren M. Foreign acquisitions: Internalization or network interdependency?. Advances in International Marketing 1989, 3:141-159.
19. Gomes-Casseres B. Ownership structures of foreign subsidiaries: Theory and evidence. Journal of Economic Behavior and Organization 1989, 11(1):1-25.
20. Harzing A. Acquisitions versus greenfield investments: International strategy and management of entry modes. Strategic Management Journal 2002, 23(3):211-227.
21. Healy P., Palepu K. International corporate equity acquisitions: Who, where and why?. Foreign direct investment 1993, University of Chicago Press, Chicago, CA. K. Froot (Ed.).
22. Hennart J.-F. A transaction cost theory of equity joint ventures. Strategic Management Journal 1988, 9(4):361-374.
23. Hennart J.-F. The transaction costs theory of joint ventures: An empirical study of Japanese subsidiaries in the United States. Management Science 1991, 37(4):483-497.
24. Hennart J.F. Down with MNE-centric theories! Market entry and expansion as the bundling of MNE and local assets. Journal of International Business Studies 2009, 40:1432-1454.
25. Hennart J.F. Emerging market multinationals and the theory of the multinational enterprise. Global Strategy Journal 2012, 2:168-187.
26. Hennart J.F., Park Y.R. Greenfield vs. acquisition: The strategy of Japanese investors in the United States. Management Science 1993, 39(9):1054-1070.
27. Johanson J., Vahlne J. The internationalization process of the firm-A model of knowledge development and increasing market commitment. Journal of International Business Studies 1977, 8(1):23-32.
28. Johanson J., Vahlne J. The mechanism of internationalization. International Marketing Review 1990, 7(4):11-24.
29. Johansen J., Valhne J. The Uppsala internationalization process model revisited: From liability of foreignness to liability of outsidership. Journal of International Business Studies 2009, 40:1411-1431.
30. Khanna T., Palepu K. Winning in emerging markets 2010, Harvard Business School Press, Boston, MA.
31. Kogut B., Singh H. The effect of national culture on the choice of entry mode. Journal of International Business Studies 1988, 19(3):411-432.
32. Larimo J. Form of investment by Nordic firms in world markets. Journal of Business Research 2003, 56(10):791-803.
33. Li S., Park S.H., Li S. The great leap forward: The transition from relation-based governance to rule-based governance. Organizational Dynamics 2004, 33(1):63-78.
34. Liker J., Fruin W., Adler P. Remade in America 1999, Oxford University Press, New York, NY.
35. Marinov M., Marinova S. Investor strategy development and adaptation: The case of Interbrew. European Management Journal 1998, 16(4):400-411.
36. Padadmadhan P., Cho K. Decision-specific experience in foreign ownership and establishment strategies: Evidence for Japanese firms. Journal of International Business Studies 1999, 30(1):25-44.
37. Pehrsson A. Strategy antecedents of modes of entry into foreign markets. Journal of Business Research 2008, 61:132-140.
38. Ramamurti R. What have we learned about emerging market MNEs?. Emerging multinationals in emerging markets 2009, Cambridge University Press, Cambridge. R. Ramamurti, J. Singh (Eds.).
39. Shaver J. Do we really need more entry mode studies?. Journal of International Business Studies 2013, 44:23-27.
40. Stopford J., Wells L. Managing the multinational enterprise 1972, Basic Books, New York, NY.
41. Vermeulen F., Barkema H. Learning through acquisitions. Academy of Management Journal 2001, 44(3):457-476.
42. Zaheer S. Overcoming the liability of foreignness. Academy of Management Journal 1995, 38(2):341-361.