Résumés
Abstract
We investigate the differences in entry mode strategy for MNEs from a highly developed country (The Netherlands) when expanding abroad into locations in developed and developing economies. Our analysis is based on 544 foreign expansion decisions by MNEs listed on the Amsterdam Exchange Index (AEX) over the five-year period 2004-2008 inclusive. We find that when expanding into other developed countries, cultural distance plays a key role in MNE location strategy; institutional quality of the location is not relevant. When expanding into less developed economies, however, cultural distance becomes irrelevant and the effects of institutional quality become stronger.
Keywords:
- national culture,
- institutional quality,
- entry mode,
- foreign location strategy
Résumé
Notre recherche étudie les différences dans le mode d’entrée à l’international de multinationales en provenance d’un pays industrialisé qui internationalisent leurs activités dans des pays industrialisés et moins industrialisés. Notre analyse se base sur 544 décisions d’expansion à l’international d’entreprises néerlandaises listées au Amsterdam Exchange Index (AEX) au cours de la période 2004 à 2008 inclusivement. Les décisions d’expansion internationale sont liées à 66 pays. Nos résultats indiquent que lorsque ces firmes pénètrent de nouveaux marchés situés dans des pays industrialisés, la distance culturelle s’avère un élément déterminant sur la stratégie adoptée. Lorsque ces multinationales pénètrent des marchés de pays moins industrialisés, la qualité des institutions est le principal élément affectant le choix du mode d’entrée. Notre recherche contribue à notre compréhension du mode d’entrée des firmes multinationales en démontrant l’effet de la distance culturelle et de la qualité des institutions lorsque des firmes de pays industrialisés internationalisent leurs activités dans différentes parties du monde.
Mots-clés :
- culture nationale,
- qualité des institutions,
- mode d’entrée,
- stratégie de localisation à l’international
Resumen
Investigamos las diferencias de la estrategia del modo de entrada para las empresas multinacionales (MNE) cuando éstas entran desde un país altamente desarrollado (Países Bajos) a otras economías desarrolladas o en vías de desarrollo. Nuestro análisis se basa en las 544 decisiones de expansión tomadas por las MNEs neerlandesas que se encuentran en la Bolsa de Ámsterdam (Amsterdam Exchange Index ó AEX) durante los cinco años comprendidos de 2004 a 2008 inclusive. Los resultados del estudio indican que al expandir a otros países desarrollados la distancia cultural asume un papel crucial en la estrategia de localidad de las MNEs mientras que la calidad de las instituciones no juega un rol relevante. Sin embargo, al expandir a las sociedades en vías de desarrollo, la distancia cultural se convierte en irrelevante y los efectos de la calidad de las instituciones se esfuerzan.
Palabras clave:
- cultura nacional,
- calidad de instituciones,
- modo de entrada,
- estrategia internacional de localidad
Parties annexes
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