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International entrepreneurship
In this editorial for the Special Issue on International Entrepreneurship, we interrelate key concepts about the pursuit of opportunities from the entrepreneurship and international business literatures. In doing so, we consider the assessment of opportunities as an individual-level cognitive activity, the construction of opportunity as a firm-level innovative activity and the shaping of opportunity as an institutional-level structuring activity. We then extend the discussion to explore the notion of a distributed, global ecosystem of opportunities and opportunity seekers, which we believe may provide a platform for valuable future research.
Journal Article
From home country to home base: A dynamic approach to the liability of foreignness
We argue that the influence of the home country wanes as the firm increases its geographic reach. We introduce the concept of the \"home base\" to capture the effect of the set of countries in which the firm operates. We expect the dynamic liability of foreignness defined relative to the home base to be a better predictor than the static liability of foreignness defined relative to the home country. We also expect the diversity of foreign experience to increase foreign market entry. We find support for these hypotheses with data on Chinese listed firms investing abroad between 1991 and 2007.
Journal Article
Top management teams in international business research: A review and suggestions for future research
This article reviews and critically assesses the large and diverse literature on top management teams (TMTs) that has focused on international business (IB) issues. We apply an organizing framework that centers around four key elements of TMTs – TMT composition, structure, processes, and governance – and the most commonly studied IB-related choices and outcomes. This framework allows us to synthesize the contributions of the literature on TMTs in IB and identify opportunities for future research. The contributions of our review are threefold. First, we offer a roadmap for navigating the large and diverse literature on TMTs in IB. Second, we provide a systematic and critical evaluation of the key empirical and theoretical developments in this literature. Third, we highlight opportunities for future research to make theoretical and empirical advancements in each of the areas of our organizing framework. In these future research opportunities, we draw particular attention to the need to further contextualize TMT research in IB by proposing opportunities to more systematically incorporate the unique nature of the MNE and the external environment in which the MNE operates.
Journal Article
Organizational Structure and Gray Markets
Conventional wisdom suggests that when firms face a negative externality like gray marketing (i.e., the selling of branded goods outside of the manufacturer’s authorized channels), an effective strategy to reduce the negative impact is to centralize decision making. Nevertheless, in industries with significant gray marketing, we observe many firms with decentralized decision making. Our study assesses whether decentralized decision making can be optimal when a manufacturer faces gray market distribution. We consider a market where a focal firm competes with an existing competitor that produces a differentiated product and a gray marketer that sources an identical product from a lower-priced foreign market. We find that decentralization is optimal under quantity-based competition, provided the gray market is relatively uncompetitive and the level of competitive intensity between the focal firm and the competitor is high. Decentralization leads a firm to make aggressive production decisions, which leads to lower prices, yet it also leads to higher market share for the firm compared to centralization. When the level of competitive intensity between a firm and its competitor is high, the gain in market share more than offsets the loss due to lower prices. As a result, the focal firm is better off decentralizing its operations independent of (a) whether the competitor operates in the foreign market, and (b) the competitor’s organizational structure. This finding contradicts the belief that centralized decision making is always optimal when authorized manufacturers attempt to limit the negative impact of gray markets. The findings also provide insight to understand why firms might employ decentralized decision making in industries where gray markets are active.
Journal Article
