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Outward Direct Investment by Indonesian Firms: Motivation and Effects

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  • Donald J Lecraw

    (Institute Pengembangan Manajemen Indonesia and The University of Western Ontario)

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    Abstract

    As part of Indonesia's opening to the world economy, over the past several years Indonesian firms have begun to invest abroad. This study compares Indonesian firms that have invested abroad and those that have not and with Third World Multinationals and other MNEs. It found that the performance of Indonesian firms that invested abroad improved dramatically after their investment in terms of management expertise, exports, quality, and costs relative to their past performance and relative to the other firms in the sample. These results support a conclusion that Indonesian multinationals have gone abroad not only to exploit their ownership advantages but also to access and develop ownership advantages they did not previously possess.© 1993 JIBS. Journal of International Business Studies (1993) 24, 589–600

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    Bibliographic Info

    Article provided by Palgrave Macmillan in its journal Journal of International Business Studies.

    Volume (Year): 24 (1993)
    Issue (Month): 3 (September)
    Pages: 589-600

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    Handle: RePEc:pal:jintbs:v:24:y:1993:i:3:p:589-600

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    Cited by:
    1. Bohm Park & Keun Lee, 2001. "Comparative Analysis of Foreign Direct Investment in China : The Korean, the Hong Kong, and the United States Firms in the Shandong Province," Working Paper Series, Institute of Economic Research, Seoul National University no40, Institute of Economic Research, Seoul National University.
    2. Harun Kaya, 2005. "ANeglected Research Area: Internationalization of Turkish Firms via Outward Foreign Direct Investment," Anadolu University Journal of Social Sciences, Anadolu University, Anadolu University, vol. 5(2), pages 137-154, December.
    3. Makino, Shige & Beamish, Paul W. & Zhao, Natalie Bin, 2004. "The characteristics and performance of Japanese FDI in less developed and developed countries," Journal of World Business, Elsevier, Elsevier, vol. 39(4), pages 377-392, November.
    4. Lee, In Hyeock & Rugman, Alan M., 2012. "Firm-specific advantages, inward FDI origins, and performance of multinational enterprises," Journal of International Management, Elsevier, Elsevier, vol. 18(2), pages 132-146.
    5. Guillermo Cardoza & Gaston Fornes, 2011. "The internationalisation of SMEs from China: The case of Ningxia Hui Autonomous Region," Asia Pacific Journal of Management, Springer, Springer, vol. 28(4), pages 737-759, December.
    6. Carney, M. & Gedajlovic, E.R., 2001. "Organisational Path-Dependence and Institutional Environment," ERIM Report Series Research in Management, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasm ERS-2001-07-STR, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam.
    7. Demirbag, Mehmet & Tatoglu, Ekrem & Glaister, Keith W., 2009. "Equity-based entry modes of emerging country multinationals: Lessons from Turkey," Journal of World Business, Elsevier, Elsevier, vol. 44(4), pages 445-462, October.
    8. Li, Peter Ping, 2007. "Toward an integrated theory of multinational evolution: The evidence of Chinese multinational enterprises as latecomers," Journal of International Management, Elsevier, Elsevier, vol. 13(3), pages 296-318, September.
    9. Narula, Rajneesh, 2010. "Much ado about nothing, or sirens of a brave new world?: MNE activity from developing countries and its significance for development," MERIT Working Papers 021, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
    10. Cuervo-Cazurra, Alvaro, 2008. "The multinationalization of developing country MNEs: The case of multilatinas," Journal of International Management, Elsevier, Elsevier, vol. 14(2), pages 138-154, June.
    11. Moon, Hwy-Chang & Roehl, Thomas W., 2001. "Unconventional foreign direct investment and the imbalance theory," International Business Review, Elsevier, Elsevier, vol. 10(2), pages 197-215, April.
    12. Ellingsen, Gaute & Likumahuwa, Winfried & Nunnenkamp, Peter, 2006. "Outward FDI by Singapore : a different animal?," Open Access Publications from Kiel Institute for the World Economy, Kiel Institute for the World Economy (IfW) 3947, Kiel Institute for the World Economy (IfW).
    13. Klein, Saul & Wöcke, Albert, 2007. "Emerging global contenders: The South African experience," Journal of International Management, Elsevier, Elsevier, vol. 13(3), pages 319-337, September.
    14. Buckley, Peter J. & Wang, Chengqi & Clegg, Jeremy, 2007. "The impact of foreign ownership, local ownership and industry characteristics on spillover benefits from foreign direct investment in China," International Business Review, Elsevier, Elsevier, vol. 16(2), pages 142-158, April.
    15. Li, Peter Ping, 2010. "Toward a learning-based view of internationalization: The accelerated trajectories of cross-border learning for latecomers," Journal of International Management, Elsevier, Elsevier, vol. 16(1), pages 43-59, March.
    16. Cuervo-Cazurra, Alvaro, 2007. "Sequence of value-added activities in the multinationalization of developing country firms," Journal of International Management, Elsevier, Elsevier, vol. 13(3), pages 258-277, September.
    17. Narula, Rajneesh & Nguyen, Quyen T.K., 2011. "Emerging country MNEs and the role of home countries: separating fact from irrational expectations," MERIT Working Papers 021, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
    18. Petrou, Andreas, 2007. "Multinational banks from developing versus developed countries: Competing in the same arena?," Journal of International Management, Elsevier, Elsevier, vol. 13(3), pages 376-397, September.
    19. Gaur, Ajai S. & Kumar, Vikas & Singh, Deeksha, 2014. "Institutions, resources, and internationalization of emerging economy firms," Journal of World Business, Elsevier, Elsevier, vol. 49(1), pages 12-20.

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