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The Micro-Foundation of Ambidextrous Foreign Direct Investment

Published online by Cambridge University Press:  19 April 2021

Xinli Huang ,
Di Fan ,
Xiaoming He  and
Yiyi Su
Xinli Huang
Affiliation:
The University of Western Australia, Australia
Di Fan
Affiliation:
Swinburne University of Technology, Australia
Xiaoming He*
Affiliation:
East China University of Science and Technology, China
Yiyi Su*
Affiliation:
Tongji University, China
*
Corresponding authors: Xiaoming He (xiaoming_0204@outlook.com) and Yiyi Su (suyiyi@tongji.edu.cn)
Corresponding authors: Xiaoming He (xiaoming_0204@outlook.com) and Yiyi Su (suyiyi@tongji.edu.cn)
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Abstract

Pursuing ambidextrous foreign direct investment (FDI) has been suggested as a desirable strategic choice of emerging economy (EE) firms in their internationalization. Yet, reconciling explorative and exploitative activities overseas is complicated due to their conflicting and tensional nature. This study explores why some EE firms can achieve high levels of ambidextrous FDI while others cannot. Drawing on upper echelons theory, we propose a micro-foundation perspective of ambidextrous FDI by studying top management teams’ (TMTs) attributes. Applying a configurational approach to a sample of 294 EE firms’ FDI observations (of which 43 are ambidextrous FDI in nature) from 2011 to 2015, we not only confirm the equal importance of both TMT incentive and cognitive factors as causal conditions to achieve a high degree of ambidextrous FDI, but also provide original evidence on the interactive configurations of those factors that lead to ambidextrous FDI.

摘要

摘要

双元型对外直接投资被认为是新兴经济体企业在国际化过程中的理想战略选择。然而，利用型与探索型海外活动的冲突矛盾本质，使得双元型海外扩张困难重重。本文旨在回答为何一些新兴经济体企业能够实现高水平的双元型对外直接投资，而其他企业却无能为力。基于高阶理论，本文从企业高管团队的特征入手，进一步提出了双元型对外直接投资的微观视角。通过2011至2015年间294例新兴经济体企业对外直接投资（其中，43例为双元型）的组态分析，本文不但证明了高管团队中激励和认知因素作为前因条件在双元型对外直接投资中的同等重要性，并且基于这些因素提出了企业实现双元型对外直接投资的互动组态。

Аннотация

АННОТАЦИЯ

Привлечение двусторонних прямых иностранных инвестиций (ПИИ) предположительно является оптимальным стратегическим решением для компаний из стран с развивающейся экономикой в процессе интернационализации. Тем не менее, совмещение разных видов деятельности по исследованию и эксплуатации за границей затруднено по причине противоречивых и напряженных отношений между ними. В этом исследовании изучается, почему одни компании из стран с развивающейся экономикой могут добиться высокого уровня двусторонних прямых иностранных инвестиций, а другие – нет. Опираясь на теорию высших эшелонов, мы рассматриваем двусторонние прямые иностранные инвестиции с точки зрения микроосновы, с помощью изучения особенностей руководства высшего звена. На основании конфигурационного подхода к выборке из 294 примеров ПИИ в компаниях из стран с развивающейся экономикой (из которых 43 примера по сути являются двусторонними ПИИ) в период с 2011 по 2015 гг., мы не только подтверждаем одинаковое значение как мотивационных, так и когнитивных факторов в руководстве высшего звена в качестве основных условий для достижения высокого уровня двусторонних прямых иностранных инвестиций, но также предоставляем подлинные примеры интерактивных конфигураций этих факторов, которые способствуют двусторонним прямым иностранным инвестициям (ПИИ).

Resumen

RESUMEN

La búsqueda de la inversión extranjera directa (IED) ambidiestra ha sido sugerida como una elección estratégica deseable en la internalización de las empresas de economías emergentes (EE). Pero, reconciliar las actividades en el extranjero exploratorias con las de explotación es complicado debido a su naturaleza conflictiva y tensional. Este estudio explora por qué algunas empresas de economías emergentes pueden conseguir altos niveles de IED ambidiestra mientras que otras no. Besándonos en la teoría de escalones superiores, proponemos que la perspectiva micro-fundacional de la IED ambidiestra al estudiar los atributos de los equipos de alta dirección (TMTs por sus iniciales en inglés). Aplicando un enfoque configuracional a una muestra de observaciones de IED de 294 empresas economías emergentes (de las cuales 43 son IED ambidiestra en naturaleza) desde el 2011 al 2015, no solamente confirmamos tanto la importancia de los incentivos a los equipos de alta dirección y los factores cognitivos como condiciones causales para conseguir un alto nivel de IED ambidiestra, y también proporcionamos evidencia original de las configuraciones interactivas de aquellos factores que pueden llevar a la IED ambidiestra.

Keywords

ambidextrous FDIemerging economy (EE) firmsfuzzy-set qualitative comparative analysis (fsQCA)micro-foundation微观基础双元型对外直接投资新兴经济体企业模糊集定性比较分析двусторонние ПИИкомпании из стран с развивающейся экономикойкачественный сравнительный анализ нечетких множеств (fsQCA)микроосноваIED ambidiestraempresas de economía emergente (EE)análisis cualitativo de conjuntos difusosmicro-fundamentos
Type
Article
Information
Management and Organization Review , Volume 17 , Issue 3 , July 2021 , pp. 551 - 582
Copyright
Copyright © The Author(s), 2021. Published by Cambridge University Press on behalf of The International Association for Chinese Management Research

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Footnotes

ACCEPTED BY Senior Editor Lin Cui

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