Natural resource endowment and firm performance: <scp>T</scp>he moderating role of institutional endowment

Zoogah, David B.

doi:10.1002/gsj.1169

Cited by 10 publications

(7 citation statements)

References 100 publications

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“…Mineral rents also produced mixed results. This is consistent with studies by Zoogah (2018) and Das and Mahalik (2020). These inconsistencies may be explained by the exploitative and rent-seeking nature of the natural resource sector.…”

Section: Regression Resultssupporting

confidence: 91%

Foreign ownership and firm performance in Sub-Saharan Africa

Webster

Okafor

Barrow

2022

Transnational Corporations Review

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Our study investigates the effects of foreign ownership on firm performance with respect to profitability, productivity, export intensity, and skills acquisition in Sub-Saharan African (SSA) countries. This is particularly important given that in the last 3 decades, stock of FDI has increased over 20,000% in SSA countries. To achieve the objectives of this paper, we employed firm-and country-level data from the World Bank Enterprise Surveys and the World Bank Development Indicators respectively. Results of the least squares dummy variable (LSDV) and propensity score matching (PSM) estimations showed that foreign ownership was positively associated with higher levels of financial profitability, productivity, exports, and skilled labour acquisition. Policy implications were deduced from the findings.

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Section: Regression Resultssupporting

confidence: 91%

Foreign ownership and firm performance in Sub-Saharan Africa

Webster

Okafor

Barrow

2022

Transnational Corporations Review

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“…Third, as our independent variables and dependent variable are located at different levels (firm level and province level), multilevel issues need to be assessed. Following previous studies (Lu et al, 2018; Zoogah, 2018), we used the hierarchical linear modeling (HLM) method to partially reduce the endogenous concerns caused by unobservable factors at the regional level. The HLM results are reported in Table 5, which indicates that controlling the province‐level effect did not change the overall results from our original data analyses.…”

Section: Resultsmentioning

confidence: 99%

Government policy, filial piety, and foreign direct investment

Cui

Dong

et al. 2022

Global Strategy Journal

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Research SummaryThis study investigates formal institutional pressure from government policy, informal institutional pressure from filial piety, and their interaction effect on firms' internationalization strategy. We argue that, while influenced by independent policy and cultural effects, firms also exercise agency when responding to these competing institutional pressures. We find empirical support for the influence of policy and cultural effects on firms' foreign direct investment (FDI). We also find that, in making decisions about FDIs, state‐owned enterprises are more sensitive to government policy, whereas family businesses are more sensitive to filial piety.Managerial SummaryThis study reveals that firms' strategies in complex institutional environments are influenced by their needs for formal and informal institutional legitimacy. Managers can exercise agency by weighing the importance of formal and informal legitimacy differently and therefore vary in their responses to institutional pressures. However, managerial agency is bound by firm ownership type. Managers of state‐owned firms prioritize formal institutional legitimacy, while their family business counterparts attend more to informal institutional legitimacy. Policymakers should be aware of this important difference between types of firms, which allows them to address noncompliance in a culturally sensitive and ultimately more effective way.

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“…Meanwhile, a country with rich natural resources will also attract resource-seeking multinational companies, but these companies fail to address crucial issues of governance, thus causing negative macro-level effects on host country and affecting the rise of GVC (Frynas, 2005). Additionally, in resource-rich countries, such as African countries, whether enterprises can get higher benefits in GVCs depends on country’s institutional endowment (Zoogah, 2018). Therefore, this paper adds these factors into Equation 1 as control variables, and the expanded Equation 1 is as follows.…”

Section: Model Construction Variable Selection and Data Sourcesmentioning

confidence: 99%

An Empirical Study on the Impact of Chinese OFDI on the Global Value Chain Positions of Countries Along the Belt and Road and Threshold Effects

Wang

Xin

2023

SAGE Open

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In line with previous studies of the relationship between foreign direct investment (FDI) and global value chains (GVCs), this work uses national panel data of 31 countries along the Belt and Road (B&R countries) from 2010 to 2017 to study the impact of Chinese outside foreign direct investment (OFDI) on the GVC positions of B&R countries and examines the threshold effects of infrastructure level and institutional quality on that impact. The results show that the improvement of B&R countries’ GVC positions is related to Chinese OFDI, and Chinese OFDI has significantly positive dynamic effect on improving the GVC positions of B&R countries. Infrastructure level and institutional quality have double threshold effects upon the effect of Chinese OFDI on improving the GVC positions of B&R countries. When infrastructure level successively exceeds the two thresholds, the effect of Chinese OFDI on improving the GVC positions of B&R countries gradually increases, and when institutional quality successively exceeds the two thresholds, the effect of Chinese OFDI on improving the GVC positions of B&R countries gradually decreases. Our study proposes that under the Belt and Road Initiative, to improve the GVC positions of B&R countries, B&R countries should further strengthen their cooperation with China and continue to attract Chinese OFDI. Moreover, to better play the role of Chinese OFDI in enhancing the GVC positions of B&R countries, China should further strengthen the infrastructure connectivity construction with B&R countries and pay attention to the institutional quality of B&R countries when investing in them.

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Natural resource endowment and firm performance: The moderating role of institutional endowment

Cited by 10 publications

References 100 publications

Foreign ownership and firm performance in Sub-Saharan Africa

Foreign ownership and firm performance in Sub-Saharan Africa

Government policy, filial piety, and foreign direct investment

An Empirical Study on the Impact of Chinese OFDI on the Global Value Chain Positions of Countries Along the Belt and Road and Threshold Effects

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