Purpose

This study aims to investigate the moderating effects of subsidiary size on the association between institutional distance and subsidiary’s access to complementary local assets (ACLA) in a transition economy.

Design/methodology/approach

The data of 1,027 subsidiaries located in Vietnam were extracted from the survey of General Statistics Office of Vietnam. Hausman’s test shows that random effect model is appropriate to estimate the moderating effects of subsidiary size on the association between the institutional distance and subsidiary’s ACLA.

Findings

The findings revealed that the greater formal and informal institutional distances between home and host countries, the lower a subsidiary’s ACLA in a transition economy. In addition, larger subsidiaries’ ACLA in a more formal and informal institutional distant country are higher than smaller subsidiaries.

Research limitations/implications

Multinational enterprise (MNEs) have a continuous need to use their foreign subsidiaries operating in host countries, particularly those with transition economies, to overcome institutional differences to ACLA in a transition economy. In addition, subsidiaries should be invested with greater resources to collaborate with local partners to serve for accessing to complementary local assets in transition economy characterized by an uncertainty institutional environment.

Originality/value

By integrating the institutional theory and the resource-based view, the study developed a theoretical model about the moderating role of subsidiary size on the association between institutional distance and subsidiary’s ACLA in transition economy. The findings confirmed that simultaneously applying the institutional theory and the resource-based view to investigate location-specific advantages exploitation of subsidiaries is relevant not only in developed economies but also in a transition economies.

中文翻译：

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子公司规模对机构距离与子公司获得互补性当地资产之间关联的调节作用：来自越南的证据

目的

本研究旨在调查在转轨经济中子公司规模对制度距离与子公司获取互补性本地资产 (ACLA) 之间关联的调节作用。

设计/方法/途径

位于越南的1,027家子公司的数据来自越南统计总局的调查。Hausman 检验表明，随机效应模型适用于估计子公司规模对制度距离与子公司 ACLA 之间关联的调节作用。

发现

调查结果显示，母国和东道国之间的正式和非正式制度距离越大，子公司在转型经济中的 ACLA 越低。此外，较大的子公司在更正式和非正式的制度遥远国家的 ACLA 高于较小的子公司。

研究局限性/影响

跨国企业 (MNE) 不断需要利用其在东道国运营的外国子公司，尤其是转型经济体的子公司，以克服转型经济体中与 ACLA 的制度差异。此外，子公司应投入更多资源与当地合作伙伴合作，以服务于在制度环境不确定的转轨经济中获取互补的当地资产。

原创性/价值

通过整合制度理论和资源基础观，本研究建立了一个关于子公司规模在转轨经济中制度距离与子公司 ACLA 之间关系的调节作用的理论模型。研究结果证实，同时应用制度理论和基于资源的观点来研究子公司的区位优势开发不仅适用于发达经济体，也适用于转型经济体。