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"Larimo Jorma"
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International business and emerging economy firms
\"How do firms from emerging economies strive for the internationalization of their business? This comprehensive two-volume collection tackles this question by taking a closer look at underexplored issues, including bottom of the pyramid (BoP) business models, value creation and co-creation, employee commitment and the 'born global' concept\"--Publisher's description.
Book
Social media marketing strategy: definition, conceptualization, taxonomy, validation, and future agenda
Although social media use is gaining increasing importance as a component of firms’ portfolio of strategies, scant research has systematically consolidated and extended knowledge on social media marketing strategies (SMMSs). To fill this research gap, we first define SMMS, using social media and marketing strategy dimensions. This is followed by a conceptualization of the developmental process of SMMSs, which comprises four major components, namely drivers, inputs, throughputs, and outputs. Next, we propose a taxonomy that classifies SMMSs into four types according to their strategic maturity level: social commerce strategy, social content strategy, social monitoring strategy, and social CRM strategy. We subsequently validate this taxonomy of SMMSs using information derived from prior empirical studies, as well with data collected from in-depth interviews and a quantitive survey among social media marketing managers. Finally, we suggest fruitful directions for future research based on input received from scholars specializing in the field.
Journal Article
Institutional distance and knowledge acquisition in international buyer-supplier relationships: The moderating role of trust
Institutional distance can generate expanded opportunities for multinational firms to facilitate learning and responsiveness. However, such distance can also create obstacles regarding knowledge transfer and integration. A theoretical puzzle concerns the mechanisms and conditions in which international buyers and suppliers can overcome institutional distance and acquire new knowledge. We develop an integrative moderated-mediation model in which institutional distance prevents parties from accessing knowledge but, when knowledge is obtained and mutual trust is developed, it promotes cross-border knowledge acquisition in international buyer-supplier exchange, particularly between international firms and firms from the Asia Pacific region. These findings indicate that firms can overcome the challenges of regulative and cognitive distance and facilitate access to knowledge and knowledge acquisition when they are able to develop and cultivate relationships of mutual trust with foreign partners. While normative distance may create learning incentives and opportunities in international buyer-supplier relationships, its impacts on knowledge accessibility and acquisition are insignificant.
Journal Article
Challenging the Conceptualization and Measurement of Distance and International Experience in Entry Mode Choice Research
Although international entry mode choice has been extensively studied, the empirical results regarding two key antecedents—various forms of distance and international experience—have been equivocal. The authors argue that the conceptualization and measurement of these variables may be contributing to the ambiguous results. They demonstrate that a broader conceptualization of the underlying factors driving the distance construct substantially increases the ability to predict entry mode. Furthermore, when a refined interpretation of international experience is employed, only experience in similar countries affects entry mode selection. Experience in dissimilar countries seems to have no predictive power. These results call for a radical change in how these two key constructs should be operationalized in further entry mode research.
Journal Article
Enhancing International Buyer-Seller Relationship Quality and Long-Term Orientation Using Emotional Intelligence: The Moderating Role of Foreign Culture
Building on Emotion Regulation Theory, we examine the role of an exporter's emotional intelligence (EI) in enhancing the quality and boosting the long-term orientation of the working relationship with its import buyers. Using data gathered from 262 Greek exporters, we confirm that the proper use of EI helps to improve trust, commitment, cooperation, and satisfaction in the relationship with their importers, which subsequently contribute to its long-term orientation. This favorable effect of EI on relationship quality dimensions is amplified when exporters deal with importers located in countries with cultures characterized by low power distance, low individualism, low masculinity, high uncertainty avoidance, and high (national) longterm orientation.
Journal Article
The Impact of Culture on the Strategy of Multinational Enterprises: Does National Origin Affect Ownership Decisions?
This paper tests the proposition that national origin affects the strategies of multinational enterprises by looking at the determinants of the choice they make between entering the United States through partially versus wholly owned subsidiaries. We pool entries into the United States made by firms based in two countries, Japan and Finland, which differ both in their cultural characteristics and in their cultural distance to the United States After carefully controlling for the known firm and industry-level determinants of subsidiary ownership strategies, we find that cultural distance between the home base of the investor and the target country (or perhaps political risk) exerts a powerful influence on ownership of subsidiaries, but cultural characteristics of the home base do not.
Journal Article
The Curvilinear Impact of Cultural Friction on Foreign Divestment
International business scholars have long recognized the potential influence of cultural differences on foreign divestment; however, the empirical results are mixed. Our study helps resolve this contradiction and contribute to the existing literature in three ways. First, we advocate the use of cultural friction metric, instead of the more traditional cultural distance approach. This overcomes a key limitation in the modelling the impact of cultural differences. The friction construct metric includes an index of firm-specific factors, referred to as the degree of ‘cultural interaction’. This index moderates the impact of cultural distance, reflecting firm—level differences. We also build on calls for more Positive Organizational Scholarship by challenging the negative bias in the international business literature and propose a curvilinear effect of cultural differences on divestment probability. Lastly, we investigate a potential boundary condition—the moderating effect of entry mode on the main hypothesis. Our empirical sample include 2120 Finnish foreign subsidiaries operating in 40 countries during 1970–2010. Our analyses confirm that the cultural differences, when measured by the friction metric, appear to be a significant and superior predictor of subsidiary divestment probability, and that the relationship appears to be U-shaped. Our robustness analyses also highlight the importance of which cultural framework is applied and controlling for selection bias.
Journal Article
Understanding the influencing factors on firms’ social media marketing strategies development: a cross-country investigation
PurposeThe purpose of this paper is to investigate the factors influencing the development of social media marketing strategy in an international context. We specifically look at the potential drivers and barriers throughout the social media marketing strategy development process and how cultural differences shape social media marketing strategy decision-making among firms in international markets.Design/methodology/approachThe study is conducted with an inductive research approach involving in-depth interviews with 32 firms from Finland, China and Brazil. Using inductive data analysis, we identify both internal and external factors that drive and hinder the development of firms’ social media marketing strategies. Moreover, we explore the essential elements in social media marketing strategy development based on the key practices observed among these firms, which enables us to conduct a comparative analysis of how cultural values influence the development of social media marketing strategies.FindingsOur findings underscore the importance of both internal (i.e. resources and capabilities) and external (i.e. market-level and country-level) factors that influence the development of social media marketing strategy. Our analysis also unveiled four key practices throughout the social media marketing strategy development process: social selling, content marketing, risk management and relationship management. Additionally, we identified three distinct mindsets regarding firms’ social media selling objectives across companies in the three countries.Originality/valueThe comparative approach provides novel insight into firms' international social media marketing strategy. Our proposed conceptual model shows the development process of social media marketing strategy in the international context. The research propositions highlight the role of cultural values and open up new avenues for future research.
Journal Article
Disentangling the Roles of International Experience and Distance in Establishment Mode Choice
The empirical results concerning the role of international experience in establishment mode choice decisions have, until now, been ambiguous and mixed. In an attempt to resolve this dilemma, experiential knowledge in an international setting is decomposed into two distinct dimensions and a more comprehensive set of distance measures are incorporated into the models predicting the establishment modes of Nordic FDI. The empirical results indicate that the two forms of experiential knowledge (cluster-specific experiential knowledge and general internationalization knowledge) are both significantly related to establishment mode choice, but in opposite directions. The results for this data set also show that when used to predict establishment mode choice, the broader range of distance measures explain 2.6 times as much variance as the Hofstedebased Kogut and Singh index. Moreover, the results demonstrate that not fully controlling for this broader range of distance measures significantly distorts the relationship between cluster-specific experiential knowledge and establishment mode. It appears there may be a similar type of distortion with respect to general internationalization knowledge but the effect size is much weaker and non-significant within this sample.
Journal Article
Firm Specific Advantage in Developed Markets Dynamic Capability Perspective
This study analyses the role played by dynamic capability and intangible assets of international new ventures from developed markets at the initial survival and growth stages of internationalization. Based on a survey of 100 ICT firms, we test our hypotheses using structural equation modelling. Empirical results show that, indeed, initial survival and growth following the survival are positively and significantly influenced by dynamic capability and firm specific intangible assets. Our results further demonstrate that specific intangible assets play a major role in the initial survival and in the growth following it.
Journal Article