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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. Jonatan Pinkse & Ans Kolk, 2012. "MNES and climate change : exploring institutional failures and embeddedness," Grenoble Ecole de Management (Post-Print), HAL hal-00707360, HAL.
  2. Hitt, Michael A. & Franklin, Victor & Zhu, Hong, 2006. "Culture, institutions and international strategy," Journal of International Management, Elsevier, Elsevier, vol. 12(2), pages 222-234, June.
  3. 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, London School of Economics and Political Science, LSE Library 4217, London School of Economics and Political Science, LSE Library.
  4. 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, Elsevier, vol. 21(6), pages 1029-1040.
  5. Tan, Danchi & Meyer, Klaus E., 2010. "Business groups' outward FDI: A managerial resources perspective," Journal of International Management, Elsevier, Elsevier, vol. 16(2), pages 154-164, June.
  6. Ramos, Miguel A. & Ashby, Nathan J., 2013. "Heterogeneous firm response to organized crime: Evidence from FDI in Mexico," Journal of International Management, Elsevier, Elsevier, vol. 19(2), pages 176-194.
  7. 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.
  8. Banalieva, Elitsa R. & Robertson, Christopher J., 2010. "Performance, diversity, and multiplicity of foreign cross-listing portfolios," International Business Review, Elsevier, Elsevier, vol. 19(6), pages 531-547, December.
  9. Geert Bekaert & Campbell R. Harvey & Christian T. Lundblad & Stephan Siegel, 2014. "Political Risk Spreads," NBER Working Papers 19786, National Bureau of Economic Research, Inc.
  10. John Dunning & Sarianna Lundan, 2008. "Institutions and the OLI paradigm of the multinational enterprise," Asia Pacific Journal of Management, Springer, Springer, vol. 25(4), pages 573-593, December.
  11. Estrin, Saul & Meyer, Klaus E. & Wright, Mike & Foliano, Francesca, 2008. "Export propensity and intensity of subsidiaries in emerging economies," International Business Review, Elsevier, Elsevier, vol. 17(5), pages 574-586, October.
  12. Jiménez, Alfredo, 2010. "Does political risk affect the scope of the expansion abroad? Evidence from Spanish MNEs," International Business Review, Elsevier, Elsevier, vol. 19(6), pages 619-633, December.
  13. CASTANER, Xavier & GENC, Mehmet, 2004. "Country Institutional Differences and Multinational Advantage in Banking," Les Cahiers de Recherche 792, HEC Paris.
  14. 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, Springer, vol. 16(1), pages 107-124, February.
  15. Hatani, Faith & McGaughey, Sara L., 2013. "Network cohesion in global expansion: An evolutionary view," Journal of World Business, Elsevier, Elsevier, vol. 48(4), pages 455-465.
  16. Manuel Portugal Ferreira & Dan Li & Yong Suk Jang, 2007. "Foreign Entry Strategies: Strategic Adaptation To Various Facets Of The Institutional Environment," Working Papers, globADVANTAGE, Polytechnic Institute of Leiria 3, globADVANTAGE, Polytechnic Institute of Leiria.
  17. 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., John Wiley & Sons, Ltd., vol. 29(2-3), pages 257-276.
  18. 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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