From a coopetition perspective, we differentiate between a multinational enterprise's product-similar subsidiary network and product-different subsidiary network in a host country. We argue that the product-similar network will have a curvilinear (inverted U-shaped) effect on foreign subsidiary performance, whereas the product-different network will produce a monotonic (positive) effect. Moreover, we introduce host-country economic advantage and intangible resource of the subsidiary as moderators into the relationship between subsidiary network and performance. Using longitudinal panel data of foreign subsidiaries, we find evidence that when host-country economic advantage is large, and the level of intangible asset intensity is high, the inverted U-shaped effect of product-similar subsidiary network is less pronounced. Moreover, host-country economic advantage and intangible asset intensity both enhance the positive effect of product-different subsidiary network. However, the moderating effect of intangible asset intensity is opposite to our prediction.

中文翻译：

---

子公司网络和外国子公司绩效：竞争视角

从竞合的角度，我们区分了跨国企业在东道国的产品相似的子公司网络和产品不同的子公司网络。我们认为，产品相似的网络将对外国子公司的业绩产生曲线（倒 U 形）效应，而产品不同的网络将产生单调（正）效应。此外，我们将东道国经济优势和子公司的无形资源作为调节因子引入子公司网络与绩效之间的关系。使用国外子公司的纵向面板数据，我们发现当东道国经济优势大、无形资产密集程度高时，产品相似子公司网络的倒U型效应不太明显。而且，东道国经济优势和无形资产密集度均增强了产品不同子公司网络的正向效应。然而，无形资产强度的调节作用与我们的预测相反。