دانلود رایگان مقاله لاتین تصمیم گیری مکان یابی و تعهد خارجی از سایت الزویر
عنوان فارسی مقاله:
تصمیم گیری مکان یابی و تعهدات خارجی: اثرات جانبی بین فاکتور بازار و استراتژی های بازار سرمایه
عنوان انگلیسی مقاله:
Location Decisions and the Liability of Foreignness: Spillover Effects Between Factor Market and Capital Market Strategies
2016
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مقدمه انگلیسی مقاله:
1. Introduction
Although internationalization into foreign factor markets and capital markets may entail important benefits for companies (Buckley and Casson, 1976; Dunning, 1988; Karolyi, 2006; Pagano et al., 2002), such expansion may be accompanied by competitive disadvantages relative to local companies (Denk et al., 2012; Zaheer, 1995). When entering a particular host market, foreign companies typically suffer from additional tacit and social costs of doing business abroad (Bell et al., 2012; Eden and Miller, 2004; Hymer, 1976), referred to as the liability of foreignness (LOF). Hence, being foreign often comes with a competitive disadvantage in terms of unfamiliarity, relational and discrimination hazards compared to domestic firms (Denk et al., 2012; Zaheer, 1995). Literature provides evidence that the LOF concept is relevant in both factor markets and capital markets (Bell et al., 2012), differentiating a factor market liability of foreignness (FMLOF) and a capital market liability of foreignness (CMLOF). Research on multinational enterprises' (MNEs) foreign location strategy has identified a number of mechanisms to overcome the FMLOF and CMLOF (Jiang et al., 2014; Zaheer, 1995). A central finding of this literature is the importance of prior experience and market knowledge to mitigate the degree of FMLOF (Peterson and Pedersen, 2002). However, also visibility and fruitful network ties within the host-market business environment are understood to be an effective means to overcome FMLOF (Asmussen, 2009; Blass and Yafeh, 2001). Just recently, scholars have started to transfer the LOF approach to the field of international finance and capital markets research (Bell et al., 2012), including mechanisms for overcoming CMLOF. Bell et al. (2012) focus on the “legitimacy deficit” of foreign equity-listed companies and suggest bonding, signaling, organizational isomorphism, and endorsements by reputable third parties to reduce the CMLOF. However, these studies focused either solely on factor markets or capital markets, whereas potential spillover effects between factor market and capital market location strategies have been neglected so far. The few existing studies combining factor market activities and capital market activities disregard the bilateral context of the LOF and focused on foreign market expansion as a whole (e.g. Pagano et al., 2002; Saudagaran, 1988).
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کلمات کلیدی:
Location Decisions and the Liability of Foreignness ... - DeepDyve https://www.deepdyve.com/.../location-decisions-and-the-liability-of-foreignness-spill... Read "Location Decisions and the Liability of Foreignness: Spillover Effects Between Factor Market and Capital Market Strategies, Journal of International ... DISTANCE MATTERS: LIABILITY OF FOREIGNNESS ... www.emeraldinsight.com/doi/full/10.1016/S0747-7929%2804%2916010-1 These costs are at “the heart of every discussion of liability of foreignness. ..... 2002), and location decisions and mode-of-entry strategies (Xu & Shenkar, 2002). Liability of Foreignness and Location-Specific Advantages: Time ... www.emeraldinsight.com/doi/full/10.1108/S1571-5027%282011%290000024015 Location-specific advantages (LSA) and the liability of foreignness (LOF) are key ... of decisions, but a group of firms that face decision-making problems beyond ... Agglomeration, catch-up and the liability of foreignness in ... - jstor www.jstor.org/stable/10.2307/23434209 _j__ Agglomeration, catch-up and liability of foreignness Anna Lamin and ... location decisions of domestic firms with those of arguments for both sides. Regional trust, liabilities of foreignness and the location decision of ... https://papers.ssrn.com/sol3/Delivery.cfm?abstractid=2552435 by R de Bliek - 2015 - Related articles Electronic copy available at: http://ssrn.com/abstract=2552435. Regional trust, liabilities of foreignness and the location decision of multinational firms in Europe. Agglomeration, catch-up and the liability of foreignness ... - Springer Link link.springer.com/article/10.1057/jibs.2013.14 by A Lamin - 2013 - Cited by 32 - Related articles We develop competing hypotheses to test the extent to which catch-up motivations affect location decisions. Examining the location choices of 501 domestic and ... Global Cities and Liability of Foreignness - Research@CBS research.cbs.dk/files/44436393/georg_wernicke_global_cities_postprint.pdf by K Mehlsen - Cited by 2 - Related articles In this article, we combine the concepts of location, liability of foreignness (LoF), .... as a result of the need for face-to-face contact at the higher levels of decision-.
