This research examines the role played by home and host country learning in the relationship between the speed of institutional change and subsidiary performance. We posit a negative relationship between the speed of institutional change in the host country and subsidiary performance. We also argue that this relationship is contingent on the institutional learning that parent multinationals (MNEs) have previously attained in other countries. By integrating the dynamic institution-based view and the organizational learning literature, our analysis highlights the key role that abilities and skills developed by MNEs to face rapid institutional changes have on the host countries in which they operate. We test our theoretical model using a sample of 342 subsidiaries from 68 MNEs operating in emerging and developed economies during 2001–2017.

中文翻译：

---

制度变革的速度和附属绩效：母国和东道国学习的调节作用

本研究考察了母国和东道国学习在制度变革速度与子公司绩效之间的关系中所起的作用。我们假设东道国的制度变革速度与子公司绩效之间存在负相关关系。我们还认为，这种关系取决于母公司跨国公司 (MNE) 之前在其他国家获得的制度学习。通过整合动态的基于制度的观点和组织学习文献，我们的分析强调了跨国企业为应对快速的制度变化而开发的能力和技能对它们经营所在的东道国的关键作用。我们使用 2001-2017 年间在新兴和发达经济体运营的 68 家跨国公司的 342 家子公司的样本来测试我们的理论模型。