Please use this identifier to cite or link to this item: http://buratest.brunel.ac.uk/handle/2438/3055
Title: Institutions, resources, and entry strategies in emerging economies
Authors: Meyer, KE
Estrin, S
Bhaumik, SK
Peng, MW
Keywords: Institutional theory; emerging economies; strategic adaptation to context; modesof entry; acquisitions; joint ventures
Issue Date: 2009
Publisher: John Wiley & Sons
Citation: Strategic Management Journal. In press.
Abstract: We investigate the impact of market-supporting institutions on business strategies by analyzing the entry strategies of foreign investors entering emerging economies. We apply and advance the institutions-based view of strategy by integrating it with resource-based considerations. In particular, we show how resource-seeking strategies are pursued using different entry modes in different institutional contexts. Alternative modes of entry— greenfield, acquisition, and joint venture (JV)—allow firms to overcome different kinds of market inefficiencies related to both characteristics of the resources and to the institutional context. In a weaker institutional framework, JVs are used to access many resources, but in a stronger institutional framework, JVs become less important while acquisitions can play a more important role in accessing resources that are intangible and organizationally embedded. Combining survey and archival data from four emerging economies, India, Vietnam, South Africa, and Egypt, we provide empirical support for our hypotheses.
URI: http://bura.brunel.ac.uk/handle/2438/3055
Appears in Collections:Economics and Finance
Dept of Economics and Finance Research Papers

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