Essays on Integration Challenges and Impacts of FSA Transfers in MNEs
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2018-10-12
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This dissertation includes four essays on how multinational enterprises (MNEs) develop competitive advantage by tackling control and coordination challenges and transfer of firm-specific advantages (FSAs). Essay 1 uses meta-analytic methods to synthesize and evaluate the facilitating roles of three integration mechanisms. It also investigates how different dimensions of knowledge influence the role of integration mechanisms in transferring knowledge. It provides preliminary evidence that there may exist substitution effects between different mechanisms. Essay 2 advances the control literature by nuancing the complementary versus substitutive effects among different control mechanisms. It identifies that two commonly-used perspectives in discussing the complementary versus substitutive effects debate result in different conclusions in some situations. It further identifies the boundary conditions for the different conclusions: institutional factors and organizational outcomes. Both Essay 1 and Essay 2 give us a better picture of the use and effectiveness of various integration mechanisms, which does not have inconsistent findings in the current literature. The findings not only contribute to the MNE control literature but also to the control literature in general management. Essay 3 and Essay 4 and examine an under-researched empirical context that is directly influenced by the shifting foreign direct investment trends. It largely addresses the issue of differential value creation by acquirer origins in target firms in developed countries at different stages. Instead of adopting the MNE-centric perspective, both the two essays incorporate the local firm perspective. Essay 3 uses acquisition premiums received by targets to investigate the target investors’ perception of firm-specific advantages by state-owned acquirers compared to private acquirers at the time of the deal announcement. It extends the mainstream international business theory by providing empirical evidence for the application of internalization theory to state-owned enterprises and local firm perspective. Essay 4, set in the oil and gas industry, examines the differential impact of varying acquirer origins on post-acquisition productivity in partially-acquired firms in North America. The findings demonstrate that multinationals from less-developed countries must ensure that they balance the need for control (equity) with the need to access local complementary resources in target firms located in developed host countries.
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Zeng, R. (2018). Essays on Integration Challenges and Impacts of FSA Transfers in MNEs (Doctoral thesis, University of Calgary, Calgary, Canada). Retrieved from https://prism.ucalgary.ca. doi:10.11575/PRISM/33210