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The power of the Buckley and Casson thesis: the ability to manage institutional idiosyncrasies

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  • Witold J Henisz

    (The Wharton School, University of Pennsylvania, Philadelphia, PA, USA)

Abstract

Recent patterns of rapid internationalization in sectors characterized by strong public interest and both government and domestic capital constraints seem, at first, inconsistent with the drivers of internationalization identified by Buckley and Casson (1976) for manufacturing industries in the postwar era. A more microanalytic perspective, however, identifies the ability to manage institutional idiosyncrasies as a firm-level capability akin to research or advertising that can drive internalization across national borders and thereby internationalization. These arguments are examined using evidence from the independent power production sector. Journal of International Business Studies (2003) 34, 173–184. doi:10.1057/palgrave.jibs.8400015

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

Volume (Year): 34 (2003)
Issue (Month): 2 (March)
Pages: 173-184

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Handle: RePEc:pal:jintbs:v:34:y:2003:i:2:p:173-184

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Cited by:
  1. Ahmad Arslan, 2012. "Impacts of institutional pressures and the strength of market supporting institutions in the host country on the ownership strategy of multinational enterprises: theoretical discussion and proposition," Journal of Management and Governance, Springer, vol. 16(1), pages 107-124, February.
  2. Jonatan Pinkse & Ans Kolk, 2012. "MNES and climate change : exploring institutional failures and embeddedness," Grenoble Ecole de Management (Post-Print) hal-00707360, HAL.
  3. Michael G. Jacobides, 2008. "Playing football in a soccer field: value chain structures, institutional modularity and success in foreign expansion," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 29(2-3), pages 257-276.
  4. Hatani, Faith & McGaughey, Sara L., 2013. "Network cohesion in global expansion: An evolutionary view," Journal of World Business, Elsevier, vol. 48(4), pages 455-465.
  5. Geert Bekaert & Campbell R Harvey & Christian T Lundblad & Stephan Siegel, 2014. "Political risk spreads," Journal of International Business Studies, Palgrave Macmillan, vol. 45(4), pages 471-493, May.
  6. Gaur, Ajai S. & Kumar, Vikas & Singh, Deeksha, 2014. "Institutions, resources, and internationalization of emerging economy firms," Journal of World Business, Elsevier, vol. 49(1), pages 12-20.
  7. Klaus E. Meyer & Saul Estrin & Sumon Kumar Bhaumik & Mike W. Peng, 2009. "Institutions, resources and entry strategies in emerging economies," LSE Research Online Documents on Economics 4217, London School of Economics and Political Science, LSE Library.
  8. Ramos, Miguel A. & Ashby, Nathan J., 2013. "Heterogeneous firm response to organized crime: Evidence from FDI in Mexico," Journal of International Management, Elsevier, vol. 19(2), pages 176-194.
  9. John Dunning & Sarianna Lundan, 2008. "Institutions and the OLI paradigm of the multinational enterprise," Asia Pacific Journal of Management, Springer, vol. 25(4), pages 573-593, December.
  10. Banalieva, Elitsa R. & Robertson, Christopher J., 2010. "Performance, diversity, and multiplicity of foreign cross-listing portfolios," International Business Review, Elsevier, vol. 19(6), pages 531-547, December.
  11. Tan, Danchi & Meyer, Klaus E., 2010. "Business groups' outward FDI: A managerial resources perspective," Journal of International Management, Elsevier, vol. 16(2), pages 154-164, June.
  12. Jiménez, Alfredo & Delgado-García, Juan Bautista, 2012. "Proactive management of political risk and corporate performance: The case of Spanish multinational enterprises," International Business Review, Elsevier, vol. 21(6), pages 1029-1040.
  13. CASTANER, Xavier & GENC, Mehmet, 2004. "Country Institutional Differences and Multinational Advantage in Banking," Les Cahiers de Recherche 792, HEC Paris.
  14. Estrin, Saul & Meyer, Klaus E. & Wright, Mike & Foliano, Francesca, 2008. "Export propensity and intensity of subsidiaries in emerging economies," International Business Review, Elsevier, vol. 17(5), pages 574-586, October.
  15. Manuel Portugal Ferreira & Dan Li & Yong Suk Jang, 2007. "Foreign Entry Strategies: Strategic Adaptation To Various Facets Of The Institutional Environment," Working Papers 3, globADVANTAGE, Polytechnic Institute of Leiria.
  16. Svetlana Ledyaeva & Päivi Karhunen & John Whalley, 2013. "If Foreign Investment Is not Foreign: Round-Trip Versus Genuine Foreign Investment in Russia," Working Papers 2013-05, CEPII research center.
  17. Jiménez, Alfredo, 2010. "Does political risk affect the scope of the expansion abroad? Evidence from Spanish MNEs," International Business Review, Elsevier, vol. 19(6), pages 619-633, December.
  18. Hitt, Michael A. & Franklin, Victor & Zhu, Hong, 2006. "Culture, institutions and international strategy," Journal of International Management, Elsevier, vol. 12(2), pages 222-234, June.

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