The entry mode choice of MNEs: an evolutionary approach

Mutinelli, Marco; Piscitello, Lucia

doi:10.1016/s0048-7333(98)00063-8

Cited by 107 publications

(80 citation statements)

References 36 publications

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“…MNEs from the 'Newly Industrialized Countries' (NIC) also followed asset augmentation strategies in their internationalization during the 1980's (Makino, Lau, & Yeh, 2002;Mathews, 2006). Acquisitions are generally undertaken for the purpose of acquiring technology (Mutinelli & Piscitello, 1998), strategic resources (Deng, 2009), and globally known brands (Sauvant, 2005).…”

Section: Internationalisation For Asset Augmentationmentioning

confidence: 99%

Cross-border acquisitions by Indian multinationals: Asset exploitation or asset augmentation?

Buckley

Munjal

Enderwick

et al. 2016

International Business Review

100

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This paper examines cross-border acquisitions by Indian multinationals and places them in the context of Emerging Country Multinationals. It tests hypotheses based on internalisation theory and the resource based view to ask if these firms are asset exploiting or asset augmenting in their takeover behaviour. Internal financial and technological resources are found to be important explanatory variables, as is asset seeking; of brands, technology and market access. The home environment in India allows firms to amass profits, to manage in a culturally diverse setting and to develop asset bundling skills. All these factors are significant in determining cross-border acquisitions.

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Section: Internationalisation For Asset Augmentationmentioning

confidence: 99%

Cross-border acquisitions by Indian multinationals: Asset exploitation or asset augmentation?

Buckley

Munjal

Enderwick

et al. 2016

International Business Review

100

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“…As far as market size is concerned, empirical evidence is mixed: in (Mutinelli and Piscitello, 1998b;Buckley and Casson, 1999) huge host countries are better approached through wholly-owned subsidiaries, while Smarzynska (2000) documents an opposite pattern. Equation (7) is solved for a in Result 3 to derive some testable predictions about the impact of market size on firms' ownership decision.…”

Section: Results 2 (See Appendix a For Details)mentioning

confidence: 99%

“…Sanna Randaccio (1993) focuses on roughly 100 Italian MNEs engaged in manufacturing FDI worldwide in the period 1974-1986, Mutinelli and Piscitello (1998a, 1998b analyse more than 300 Italian parent companies with joint-venture or wholly-owned subsidiaries abroad in 1986-1993, and this paper studies Italian FDI in Asia in the XXI century: irrespective of the period and the data, shared ownership turns out to be the most preferred contract selected by Italian investors. This probably has to do with financial and managerial constraints that limit mostly small and medium enterprises, making them act prudently to minimize risks through the partnership.…”

Section: Indeed Hightech Telecom Patent Tech_relative Patent/salmentioning

confidence: 99%

Firm's intangible assets and multinational activity: Full versus shared ownership

Gattai

2010

The Journal of International Trade & Economic Development

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This paper analyses the choice of full versus shared ownership of the production affiliate made by Italian multinationals in Asia, based on an entirely new firm-level dataset, constructed by the author. The decision to internalise production, rather than relying on a local partner, is driven by the threat of Dissipation of Intangible Assets, both at a theoretical and an empirical level. In particular, we show that full ownership is more likely to emerge in Asia for Italian firms endowed with better technology and human capital, or belonging to high tech sectors.

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“…Las grandes empresas, a menos que tengan alguna restricción gubernamental por la que necesiten un socio para realizar la inversión, no tienen incentivos para hacer una JV (Siripaisalpipat & Hoshino, 2000). En cambio, las empresas pequeñas, que disponen de menos recursos, optan por la JV porque así reducen los costes de transacción y, por lo tanto, el riesgo, tanto financiero como operativo, es menor (Bontempi & Prodi, 2009;Mutinelli & Piscitello, 1998). …”

Section: Forma De Entradaunclassified

The Spanish company in China: Entry forms and barriers to internationalization

Niñerola

Rebull²

2016

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ResumenObjeto: El mercado chino concentra las miradas de las empresas de todo el mundo por su gran potencial de ventas. No obstante, por la complejidad del país hay que realizar la inversión con cautela. La elección de la forma de entrada es una de las decisiones más cruciales que la empresa tiene que afrontar a la hora de invertir en un país extranjero.El presente trabajo pretende, por una parte, estudiar cuál es la forma de entrada más utilizada por las empresas para invertir en este país y en base a qué factores la han elegido y, por otra, identificar cuáles han sido las barreras de entrada a las que han tenido que hacer frente.Diseño/metodología/enfoque: Para contestar a estas preguntas se realizaron entrevistas con directivos y responsables del proceso de internacionalización de quince empresas españolas de diferentes sectores económicos con inversión directa en China. Aportaciones y resultados: Como resultado, encontramos que la implantación enChina ha sido un proceso secuencial en la mayoría de casos estudiados por los siguientes motivos: falta de conocimiento del mercado, obligatoriedad de invertir con un socio local o implicación paulatina de recursos. Una vez la empresa decide establecerse permanentemente en China, la figura más empleada es la empresa propia o Wholly Foreign Owned Enterprise.Barreras regulatorias y burocráticas, culturales e idiomáticas, competitivas y de riesgo de imitación, los recursos humanos y, por último, barreras informales han sido las identificadas por las empresas durante su proceso de internacionalización en el mercado chino.-223-

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The entry mode choice of MNEs: an evolutionary approach

Cited by 107 publications

References 36 publications

Cross-border acquisitions by Indian multinationals: Asset exploitation or asset augmentation?

Cross-border acquisitions by Indian multinationals: Asset exploitation or asset augmentation?

Firm's intangible assets and multinational activity: Full versus shared ownership

The Spanish company in China: Entry forms and barriers to internationalization

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