Halkos, George and Tzeremes, Nickolaos (2005): Internationalization Strategies and Productivity: Evidence from Foreign Owned Companies Operating in the Greek Manufacturing Sector.
Download (694kB) | Preview
This paper using Malmquist productivity indexes analyzes the impact of internalization on productivity efficiency and competitive advantage for a sample of 395 firms with foreign ownership operating in the Greek manufacturing sector. A number of different factors in respect to firms’ productivity performance and creation of competitive advantage are been explored. The productive and most competitive firms with foreign ownership seem to have definite and strong characteristics relative to their size. Our empirical results imply that the resources (tangible and intangible) which are utilized and obtained through the firms internationalization strategies have a direct impact on the firms’ productivity and hence to their competitive advantage.
|Item Type:||MPRA Paper|
|Institution:||University of Thessaly, Department of Economics|
|Original Title:||Internationalization Strategies and Productivity: Evidence from Foreign Owned Companies Operating in the Greek Manufacturing Sector|
|Keywords:||Foreign Owned Firms; Internationalisation; Malmquist Productivity Index; Productivity Efficiency|
|Subjects:||O - Economic Development, Innovation, Technological Change, and Growth > O3 - Innovation ; Research and Development ; Technological Change ; Intellectual Property Rights > O30 - General
F - International Economics > F2 - International Factor Movements and International Business > F23 - Multinational Firms ; International Business
L - Industrial Organization > L2 - Firm Objectives, Organization, and Behavior > L25 - Firm Performance: Size, Diversification, and Scope
L - Industrial Organization > L6 - Industry Studies: Manufacturing > L60 - General
|Depositing User:||Nickolaos Tzeremes|
|Date Deposited:||22. Apr 2007|
|Last Modified:||05. May 2015 19:20|
Anderson, E. and Gatignon, H. (1986) Modes of foreign entry: a transaction cost analysis and propositions, Journal of International Business Studies, 17(3), pp. 1-26.
Barbosa, N. and Louri, H. (2005) Corporate Performance: Does ownership matter? A comparison of foreign – and domestic-owned firms in Greece and Portugal, Review of Industrial Organization, 27, pp. 73-102.
Bartlett, C. A. & Ghoshal, S. (1987a) Managing across borders: new strategic requirements, Sloan Management Review, 28(4), pp. 7–17.
Bartlett, C. A. & Ghoshal, S. (1987b) Managing across borders: new organizational responses, Sloan Management Review, 29(1), pp. 43–52.
Bello, D.C. and Lohtia, R. (1995) Export channel design: the use of foreign distributors and agents, Journal of the Academy of Marketing Science, 23(2), pp. 83-93.
Bernard, A. B., J. Eaton, J. B. Jensen, and S. Kortum (2000) Plants and Productivity in International Trade, National Bureau of Economic Research, Working Paper No. 7688, Cambridge.
Buckley, P.J. (1988) The limits of explanation: testing the internalization theory of the multinational enterprise, Journal of International Business Studies, 19(2), pp. 181-193.
Buckley, P.J. (1996) The role of management in international business theory: a meta-analysis and integration of the literature on international business and international management, Management International Review, 36(1), pp. 7-54.
Buckley, P.J. and Casson, M.C. (1976) The Future of the Multinational Enterprise (London and New York: Macmillan).
Buckley, P.J. and Casson, M.C. (1998) Analyzing foreign market entry strategies: extending the internalization approach, Journal of International Business Studies, 29(3), pp. 539-562.
Buckley, P.J. and Pearce, R.D. (1979) Overseas production and exporting by the world’s largest enterprises: a study in sourcing policy, Journal of International Business Studies, 10(1), pp. 9-20.
Caves, D.W., Christensen , L.R. and Diewert, W.E. (1982) The economic theory of index numbers and the measurement of input, output and productivity, Econometrica, 50, pp.1393-414.
Caves, R.E. (1982) Multinational Enterprise and Economic Analysis (Cambridge: Cambridge University Press).
Caves, R.E. (1996) Multinational Enterprise and Economic Analysis, 2nd ed., (Cambridge: Cambridge University Press).
Chatterjee, S. and Wernerfelt, B. (1991) The link between resources and type of diversification: theory and evidence, Strategic Management Journal, 12(1), pp. 33-48.
Coase, R.A. (1937) The nature of the firm, Economica, New Series, 4 (16), pp. 386-405.
Coelli, T. (1996) A guide to DEAP Version 2.1: A data envelopment Analysis (computer) program, CEPA, working paper 96/08.
Dunning, J.H. (1979) Explaining changing patterns of international production: in defence of the eclectic theory, Oxford Bulletin of Economics and Statistics, 41 (4), pp. 269-295.
Dunning, J.H. (1980) Towards an eclectic theory of international production: some empirical tests, Journal of International Business Studies, 11(1), pp. 9-31.
Dunning, J.H. (1988a) The eclectic paradigm of international production: a restatement and some possible extensions, Journal of International Business Studies, 19(1), pp. 191-231.
Dunning, J.H. (1988b) The theory of international production, The International Trade Journal, 3(1), pp. 21- 66.
Dunning, J.H. (1994) Re-evaluating the benefits of foreign direct investment, Transnational Corporations, 3(1), pp. 23-51.
Dunning, J.H. (1995) Reappraising the eclectic paradigm in an age of alliance capitalism, Journal of International Business Studies, 26(3), pp. 461-492
Dunning, J.H. (1998) Globalization and the new geography of foreign direct investment, Oxford Development Studies, 26 (1), pp. 47-69.
Dunning, J.H. (2001) The eclectic (OLI) paradigm of international production: past, present and future, International Journal of the Economics of Business, 8(2), pp. 173-190.
Dunning, J.H. and Bansal, S. (1997) The cultural sensitivity of the eclectic paradigm, Multinational Business Review, 5(1), pp. 1-16.
Dunning, J.H. and Wymbs, C. (2001) The challenge of electronic markets for international business theory, International Journal of the Economics of Business, 8 (2), pp. 273-301.
Fan, X. and Dickie, P.M. (2000) The contribution of foreign direct investment to growth and stability, a post-crisis ASEAN-5 review, ASEAN Economic Bulletin, 17 (3), pp. 312-323.
Fare, R.S., Grosskopf, S. and Lovell, C.A.K., (1994), Production Frontiere, (Campridge University Press, Campridge).
Harris, R., and Robinson C. (2003) Foreign ownership and productivity in the United Kingdom Estimates for U.K. Manufacturing Using ARD, Review of Industrial Organization, 22, pp. 207-223.
Haspeslagh, P.C and Jemison, D.B. (1991) Managing acquisitions: creating value through corporate renewal (The Free Press, New York). Hennart, J-F. (2001) Theories of the multinational enterprise, in: A.M. Rugman and T.L. Brewer (eds), The Oxford Handbook of International Business, pp. 127-149, (Oxford: Oxford University Press).
Hill, C.W., Hwang, P. and Kim, W.C. (1990) An eclectic theory of the choice of international entry mode, Strategic Management Journal, 11 (1), pp. 117-128.
Hill, C.W.L. (1994) Diversification and economic performance: bringing structure and corporate management back into the picture, in Rumelt, R.P., Schendel, D.E. and Teece, D.J. (eds.), Fundamental issues in strategy: a research agenda, (Harvard Business School Press, Boston, Massachusetts).
Hoskisson, R.E. and Hitt, M.A. (1990) Antecedents and performance outcomes of diversification: a review and critique of theoretical perspectives, Journal of Management, 16 (2), pp. 461-509.
Hymer, S.H. (1960) The international operations of national firms: a study of foreign direct investment, Ph.D. dissertation, (Massachusetts Institute of Technology).
Hymer, S.H. (1968) La grande ‘corporation’ multinationale: analyse de certaines raisons qui poussant à l’intégration internationale des affaires, Revue Economique, 14 (6), pp. 949-973.
Hymer, S.H. (1976) The international operations of national firms: a study of direct foreign investment, Cambridge, MA: MIT Monograph in Economics, 14.
Kindleberger, C.P. (1969) American Business Abroad: Six Lectures on Direct Investment (New Haven: Yale University Press).
Luo, L. (2001) Determinants of entry in an emerging economy: a multilevel approach, Journal of Management Studies, 38 (3), pp. 443-472.
Madhok, A. (1997) Cost, value and foreign market entry mode: the transaction and the firm, Strategic Management Journal, 18 (1), pp. 39-61.
Madhok, A. and Phene, A. (2001) The co-evolutional advantage: strategic management theory and the eclectic paradigm, International Journal of the Economics of Business, 8 (2), pp. 243-256.
Narula, R. (2001) Multinational firms, regional integration and globalising markets: Implications for developing countries, MERIT Infonomics Research Memorandum, pp. 2001-036.
Porter, M.E. (1985) Competitive Advantage: Creating and Sustaining Superior Performance, (New York: Free Press).
Porter, M.E. (1987) From competitive advantage to corporate strategy, Harvard Business Review, 3, May-June, pp. 43-59.
Rao, D.,S., P. and Coelli, T.J. (1998) Catch –up and convergence in global agricultural productivity 1980-1995, CEPA, Working paper No 4/98.
Rugman, A.M. (1981) Inside the Multinationals (London, New York and Sydney: Croom Helm).
Rumelt, R.P. (1982) Diversification strategy and profitability, Strategic Management Journal, 3(4), pp. 359-369.
Seth, A. (1990) Value creation in acquisitions: a re-examination of performance issues, Strategic Management Journal, 11, pp. 99-115.
Teece, D.J. (1980) Economies of scope and the scope of the enterprise, Journal of Economic Behavior and Organization, 1, pp.223-247.
Williamson, O.E. (1975) Markets and Hierarchies: Analysis and Antitrust Implications, (New York: The Free Press).