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eBook details

• Title: Internationalization and Network Strategies: Taiwanese Firms' Foreign Direct Investment in China and the U.S.A.
• Author : Journal of Asia Business Studies
• Release Date : January 22, 2008
• Genre: Finance,Books,Business & Personal Finance,
• Pages : * pages
• Size : 314 KB

Description

INTRODUCTION Conventional theories view foreign direct investment (FDI) as an incremental progress model. However, over the last decade, several studies have focused on firms with such labels as International New Ventures (INVs), or Born Globals. Such firms engage in significant international activity soon after they are established, rather than incrementally. Some researchers consider this trend offers a strong opposition to the traditional models of internationalization. Some studies conclude that the stage models fail to provide an appropriate explanation as to why such firms operate on the international market rather than just their home markets (e.g., Aspelund and Moen, 2001; McDougall, Shane, and Oviatt, 1994; Oviatt and McDougall, 1997). Furthermore, some empirical studies indicate that the trend of gradual development among the small and medium-sized exporting firms may also be questioned (Moen, 2002; Moen and Servais, 2002). However, by applying the Johanson and Mattsson's (1988) network approach, Madsen and Servais (1997) suggest that the Born Globals trend does not represent any revolutionary pattern of internationalization and may behave according to an evolutionary framework. Similarly, Coviello and Munro (1997) claim that the internationalization process of firms is just an accelerated version of the stage model perspective, and is driven by a set of formal and informal network relationships. Formal network relationships include those co-operative business relationships with partners, such as strategic alliances and joint ventures. Informal network relationships include those social relationships with relevant organizations, such as informal connections and friendships. These network relationships will impact on the selection of a foreign market and mode of entry. There are an increasing number of researchers who apply the network theory to explore the FDI of small and medium-sized firms, and the internationalization process of Born Globals, from their inception. It becomes important to explore the relationship between internationalization models and network strategies.

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