【作者】 杨洋；

【导师】 魏江；

【作者基本信息】 浙江大学 ， 企业管理， 2017， 博士

【摘要】 知识的专业化、差异化和分散化是当前世界经济发展中越来越重要的特征之一。在此背景下,来自新兴经济体国家的后发企业纷纷开始构建其跨越地理边界、组织边界的全球网络进行知识搜索和整合。在这个过程中,跨国并购日渐成为后发企业获取先进技术和能力、实现快速技术追赶和能力跃迁的主要战略之一,不少企业通过跨国并购成功实现了能力提升,跻身行业领先梯队。然而,在来源国劣势以及由此带来的组织身份不对称挑战下,仍有不少后发企业折戟海外,在投入了大量人力、财力准备大施拳脚后,却最终陷入协同效应陷阱,不仅没有成功实现组织学习能力提升追赶,反而让自己身陷囹圄。本文以此现象为切入点,通过层层递进的四个子研究,本文详细讨论了来源国劣势的本质、内涵、微观作用机制,区分了能力劣势和声誉劣势的不同作用。同时,识别了后发跨国公司应对和克服来源国劣势的战略选择,描绘了后发企业通过跨国并购最终实现能力追赶的全过程以及并购后组织身份重构路径,对“具有来源国劣势的后发跨国公司如何设计整合战略和协调机制来应对组织身份不对称,并实现能力追赶?”这一核心问题进行了回答,主要得到以下四方面结论:(1)子研究一围绕“来源国劣势的本质和内涵是什么,会对后发跨国公司产生什么影响?”这一问题,首先通过规范分析发现来源国劣势可以进一步细分为实际的能力劣势以及感知到的声誉劣势两个维度。具体地,能力劣势归因于后发跨国公司所在来源国的正式制度缺位,而声誉劣势则主要来自来源国的负面形象。在此基础上,通过二手数据的大样本实证研究进一步发现来源国劣势对后发跨国公司并购后整合绩效具有负面影响,且这种挑战主要来自于声誉劣势,而非能力劣势。最后,通过引入东道国投资经验作为边界条件,研究结果表明尽管声誉劣势的负面效果是普遍存在的,但声誉劣势也是可以被缓解的,东道国投资经验的逐步积累可以帮助后发企业积累相似环境中的经营能力和隐性知识,增加后发企业在东道国市场知名度和合法性,一定程度上削弱声誉劣势的负面效用。(2)子研究二围绕“来源国劣势是如何作用于后发跨国公司并购后整合?”这一问题,通过对7个典型跨国并购案例横向对比发现,来源国劣势带来的“合法性赤字”、“信誉赤字”劣势具有组织异质性,会受到组织层面特征的过滤,最终的“净劣势”会集中体现在后发跨国公司与被收购企业组织身份不对称上。进一步,组织身份不对称会带来后发跨国公司在与海外被收购企业的二元关系中的“合作伙伴合法性”缺失,给协调和学习带来压力。为了解决上述压力,后发跨国公司会通过实施不同整合战略、设计并安排不同的协调机制来对两种身份进行管理以应对挑战。同时,子研究二还发现不同的并购动机下,组织选择应对组织身份挑战的战略会有所不同。基于上述两点,子研究二归纳出来源国劣势与组织身份不对称,组织身份不对称、并购动机和整合战略选择之间的逻辑关系,最终得到一个整合框架。(3)子研究三围绕“来源国劣势下,后发跨国公司如何实现有效学习和能力追赶?”这一问题,在前两个子研究的基础上,基于组织学习理论和过程视角下的分析框架,通过模糊集质性比较分析方法(fsQCA),综合分析了来源国劣势下,在组织身份、并购动机构成的不同组织情境中,后发跨国公司在不同的协调机制设计和安排下,成功撬动自身以及被收购方的知识基和经验、推进新知识的创造和转变、实现能力提升的全过程。在此基础上总结出后发跨国公司在并购后整合过程中反复迭代和动态的学习过程,识别并归纳出成功实现能力提升的学习路径和失败的学习路径。同时,子研究三也再次论证了组织身份不对称和跨国并购动机对组织学习的直接和间接影响,并发现了不同协调机制之间、协调机制与组织情境之间的互为补充、相辅相成的相互作用关系。(4)子研究四围绕“来源国劣势下,后发跨国公司如何实现并购后组织身份重构?”这一问题,在子研究二和子研究三的基础上,基于组织身份动态性的命题和组织身份变革视角,通过多案例研究方法对并购后整合进行多阶段考察,探索后发跨国公司并购了先进企业后,如何通过“静默期-过渡期-稳定期”三个阶段不同的组织设计安排来循序渐进地推动并实现共享型身份和嵌套型身份的产生;同时,子研究四还识别了收敛型和吸收型两种身份重构路径。在此基础上刻画出“组织身份-组织战略和实践”共同演进的动态关系。本文有重要的理论贡献与实践启示:(1)拓展了来源国劣势相关研究。本文明确了来源国劣势的内涵和本质,并首次通过二手数据大样本实证为来源国劣势与后发企业跨国并购之间的关系提供了直接的实证证据;在此基础上明晰了来源国劣势微观作用机制,打开了来源国劣势作用于后发跨国公司的黑箱。最后从“总部-子公司”关系出发,通过“组织伙伴合法性”的角度为后发跨国公司提供了应对来源国劣势的新思路。(2)贡献于并购后整合研究。本文通过以动态的过程视角全面考察后发跨国公司并购后整合和学习过程,为后发跨国公司如何成功实现并购后整合和有效学习提供了分析框架,也为解决后发企业“协调-自治”困境提供了新方案。除此之外,通过引入组织身份不对称,建立了组织身份不对称与整合战略选择的联系,强调了整合过程中微观层面要素的重要性,识别了并购后整合在微观层面的新动因。同时,通过对整合过程中组织身份重构过程的考察,刻画了“组织身份-组织战略和实践”之间共同演进的动态关系,也回应了学者们最近对“战略-身份”关系深入探索的呼吁。(3)贡献于组织学习相关研究。本文运用集合论式下的模糊质性比较分析方法,多方面综合考察了情境、成员、任务、工具之间的交互,工具与工具之间的交互对组织学习过程和效果的影响,对现有组织学习研究进行了补充。同时,本研究通过全面考量跨国并购领域和组织学习领域的互动,实现了两个研究领域的深度交互和融合发展,进一步夯实了全球化战略和组织学习的对话基础,同时响应了学者们对深入探讨全球战略和组织学习领域交互研究的呼吁,为我们理解国际化过程中的组织学习提供了更全面的分析框架。(4)为企业提供现实指导。本文的结论能够为企业在国际化过程中识别和克服来源国劣势、成功解决“协调-自治”困境实现有效学习、实现并购后组织身份重构和能力提升提供了借鉴意义。同时也为国家更好地落实创新驱动和“走出去”战略、完善母国制度环境提供政策建议。更多还原

【Abstract】 Knowledge specialization,differentiation,and distribution are increasingly important features of the world.Under this background,there has been an increasing tendency for multinational enterprises from emerging economies(EMNEs)to internationalize and build a cross-geographic,organizational and knowledge boundaries global network to search and integrate worldwide knowledge.During this process,cross-border acquisition is one of the most popular strategies for EMNEs to help them tap into the state-of-the-art knowledge and capabilities,rapidly realize their vision of technological catch-up and capability upgrading.Some of those EMNEs successfully fulfil their ambition and therefore become able to compete against established advanced country competitors.However,facing with the tremendous challenges of liability of origin and identity asymmetries,a majority of EMNEs failed and got stuck in the synergy trap after investing a lot of money and resources.Inspired by this interesting phenomenon,this dissertation thus focus on the core research question:Confronting with the liability of origin,how do EMNEs response to the challenges of identity asymmetries to realize successful integration and effective learning and finally achieve capability catch-up?To answer the above questions,this dissertation systematically designs four sub-researches,intensively discusses the nature and connotation of liability of origin,the distinguished impacts of capability liability and reputation liability on EMNEs,and the underlying micro-mechanisms of how it works.Based on the above fundamental work,this dissertation identifies the strategic choices of how to response to and overcome the liability of origin,depicts the picture of the whole process and learning paths of how EMNEs realize capability upgrading during the process of cross-border acquisitions,therefore proffering the answers to the aforementioned core question.Specifically,this dissertation comes to four main conclusions.(1)Study 1 unfolds with the question "What is the nature and connotation of liability of origin?What is the impact of liability of origin on EMNEs?" First,this study disentangles the construct labiality of origin into two dimensions,namely,an actual capability liability and perceived reputation liability.Specifically,the actual lack of capability can be attributed to the institutional voids situation in emerging economies,which might result in inadequate and limited capability of the firms from emerging economies.The perceived reputation liability refers to the negative image and the inferior status of the emerging economies and the discrimination exerted on the EMNEs from the host country.Based on the deliberate theoretical elaboration,using a sample of Chinese multinationals that have been listed in the Shanghai Stock Exchange and Shenzhen Stock Exchange,this study reveals that the capability liability has no significant negative impact on EMNEs post-acquisition integration whereas the reputation liability significantly impedes the post-acquisition integration performance of EMNEs.However,this above negative impacts can be buffered and mitigated by firms’ prior experiences in the same host country.(2)Study 2 is a case study using a sample of 7 cross-border acquisitions to seek the answer of the second sub-question "How does liability of origin influence EMNEs’post-acquisition integration?" This study comes to the conclusions that the "legitimacy deficit","credibility deficit","capability deficit" caused by liability of origin has organizational heterogeneity,the final and actual impact of liability of origin on EMNEs will be filtered by organizational characteristics,and the "net liability" will finally be epitomized in identity asymmetry between the acquiring and the acquired finns.Furthermore,identity asymmetry will lead to a lack of of partnership legitimacy in the headquarter-subsidiary relationship,exerting burdens and pressure on the process of coordination and organizational learning.In order to response to these pressure and burdens,EMNEs will adopt various integration strategies and coordination mechanisms to deal with the dual-identity issue.And last,this study also finds that the motivation of the acquisition plays an important role of the process.(3)Study 3 presents an integrated framework of "How can EMNEs achieve effective organizational learning and realize their ambition of capability catch-up?"Based on the above two studies,this study adopts an analytical framework from organizational learning theory to comprehensively exam the interrelationships of identity asymmetry,motivation,coordination mechanisms and their impact on EMNEs learning process and capability catch-up.After doing an fsQCA analysis,this study depicts the iterate and dynamic process and paths of EMNEs’ organizational learning in the post-acquisition integration stage,identifies both the successful and unsuccessful learning paths,and reveals the interdependent nature of coordination mechanisms and how these mechanisms interact with the organizational contexts.Moreover,this study also verifies the direct and indirect effects of identity asymmetry on EMNE’s organizational learning,indicating that the effect of identity asymmetry is long lasting and profound in the whole process.(4)Study 4 is designed to answer the question "How does EMNEs realize the organizational identity re-construction after their cross-border acquisitions?" Based on the findings and insights from study 2 and study3,this study holds a dynamic identity perspective to depict a more nuanced picture of organizational identity re-construction process.Emerging from the case materials,this study reveals that the whole proceess of organizational identity re-construction composed of three stages,namely,silence,transition and stability.In addition,this study also identifies two distinct paths of identity re-construction,one is called convergent way and the other is named as absorptive way.Based on these findings,this study is finally able to depict the dynamic co-evolution relationship between organizational identity and organizational strategy and practice.This dissertation has important implications for both theory and practice:(1)This dissertation extends the research on liability of origin.Firstly,this dissertation clarifies the nature and the connotation of liability of origin,and is among the first to directly and empirically investigate the influence of liability of origin on EMNEs.Secondly,this dissertation reveals the underlying mechanisms of liability of origin,thus opening the black box of the process that how liability of origin influences EMNEs,and specifically,the post-acquisition integration process and performance.Finally,this dissertation provides new insights of the strategies to overcome liability of origin by highlighting the missing part of partnership legitimacy in the headquarter-subsidiary relationship.(2)This dissertation contributes to post-acquisition integration literature.Using a dynamic and process-based perspective,this study investigates the whole process of how EMNEs response to and overcome the liability of origin and finally achieve effective learning and capability catch-up,proffering a more nuanced and holistic framework for analyzing how EMNEs success in the cross-border acquisition and the sequent integration process and how to solve the "coordination-autonomy" dilemma.Additionally,by introducing the construct of identity asymmetry,this study emphasize the vital role of identity issues during the process of post-acquisition integration,bridging a link between identity asymmetry and integration strategy choice,therefore appeals to the call of exploring the strategy-identity nexus.(3)This dissertation contributes to organizational learning related research.Using a set-theoretic approach,this dissertation comprehensively examines the mutual interaction between members,tasks,tools and the context where learning occurs,and their interplay on the process of organizational learning and learning effectiveness,thereby extending the exsisitng literature.Moreover,this study also go deep into the mutual engagement between organizational learning and global strategy,building a bridge between research in these two fields,proffering a more nuanced picture of organizational learning in the process of internationlization.(4)This dissertation also has important practical implications.First,the results can prooffer suggestions for latecomer enterprises to identify and overcome the liability of origin when they are sailing internationally,especially when they are entering and operating in the advanced countries.Second,this study also gives EMNEs suggestions of how to design and arrange the coordination mechanisms in order to solve the dilemma of "coordination-autonomy",and how to effectively learn from the acquired partners to realize their motivation of capability upgrading.And last,this study gives policy suggestions to implement "Innovation driven development strategy" and "The’Go globally’ strategy".更多还原