【摘要】 文章调查了新兴市场公司的国际化以及东道国当地互补资产的相关性。以在尼日利亚经营付费电视业务的中国和南非的服务跨国公司为案例进行比较分析,以评估资产捆绑理论的解释力和预测力。结果发现:资产捆绑理论可以很好地解释两家公司的进入模式选择和股权结构。此外,新兴市场公司擅长将其公司特定优势与东道国特定优势相结合。研究表明,对于新兴市场跨国公司的国际化需要综合运用现有理论进行分析,进而提出融合FSA/CSA矩阵和资产捆绑理论的决策框架。更多还原

【Abstract】 This study investigates the internationalization of emerging market firms and the relevance of host countries’ local complementary assets. Using a comparative case analysis of service multinationals from China and South Africa operating in the pay-tv business in Nigeria, we assess the explanatory and predictive power of the asset bundling theory.We find evidence of the ability of the theory to predict both entry modes and equity structure as both firms’ actual choices match the predictions of the theory. As well as, evidence that emerging market firms excel at combining their Firm specific advantages with host country specific advantages.The study shows that a synthesis of extant theories can adequately explain the internationalization of emerging market multinationals. A decision framework from a fusion of the FSA/CSA matrix and the asset bundling theory is proposed.更多还原