The challenge of international business PDF
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The Challenge of International Business Peter J. Buckley The Challenge of International Business Also by Peter J.Buckley CANADA–UK BILATERAL TRADE AND INVESTMENT RELATIONS (withChristopher L.PaesandKatePrescott) THECHANGINGGLOBALCONTEXTOFINTERNATIONALBUSINESS FOREIGNDIRECTINVESTMENTANDMULTINATIONALENTERPRISES INTERNATIONALSTRATEGICMANAGEMENTANDGOVERNMENTPOLICY THEFUTUREOFMULTINATIONALENTERPRISE(withMarkCasson) INTERNATIONALTECHNOLOGYTRANSFERBYSMALLANDMEDIUM-SIZED ENTERPRISES(co-editedwithJaimeCamposandEduardoWhite) MULTINATIONALENTERPRISESINLESSDEVELOPEDCOUNTRIES(co-editedwith JeremyClegg) MULTINATIONALFIRMS,COOPERATIONANDCOMPETITIONINTHEWORLD ECONOMY THESTRATEGYANDORGANIZATIONOFINTERNATIONALBUSINESS(co-editedwith FredBurtonandHafizMirza) STUDIESININTERNATIONALBUSINESS INTERNATIONALBUSINESS:EconomicsandAnthropology,TheoryandMethod The Challenge of International Business Peter J. Buckley CentreforInternationalBusiness UniversityofLeeds UK 'PeterJ.Buckley2004 Foreword'SteveKobrin2004 Allrightsreserved.Noreproduction,copyortransmissionofthis publicationmaybemadewithoutwrittenpermission. Noparagraphofthispublicationmaybereproduced,copiedortransmitted savewithwrittenpermissionorinaccordancewiththeprovisionsofthe Copyright,DesignsandPatentsAct1988,orunderthetermsofanylicence permittinglimitedcopyingissuedbytheCopyrightLicensingAgency, 90TottenhamCourtRoad,LondonW1T4LP. Anypersonwhodoesanyunauthorisedactinrelationtothispublication maybeliabletocriminalprosecutionandcivilclaimsfordamages. Theauthorhasassertedhisrighttobeidentified astheauthorofthisworkinaccordancewiththeCopyright, DesignsandPatentsAct1988. Firstpublished2004by PALGRAVEMACMILLAN Houndmills,Basingstoke,HampshireRG216XSand 175FifthAvenue,NewYork,N.Y.10010 Companiesandrepresentativesthroughouttheworld PALGRAVEMACMILLANistheglobalacademicimprintofthePalgrave MacmillandivisionofSt.Martin’sPress,LLCandofPalgraveMacmillanLtd. Macmillan(cid:1)isaregisteredtrademarkintheUnitedStates,UnitedKingdom andothercountries.PalgraveisaregisteredtrademarkintheEuropean Unionandothercountries. ISBN1(cid:1)4039(cid:1)1306(cid:1)4 Thisbookisprintedonpapersuitableforrecyclingandmadefromfully managedandsustainedforestsources. AcataloguerecordforthisbookisavailablefromtheBritishLibrary. LibraryofCongresscataloging-in-PublicationData Buckley,PeterJ.,1949(cid:1) Thechallengeofinternationalbusiness/PeterJ.Buckley. p. cm. Includesbibliographicalreferencesandindex. ISBN1(cid:1)4039(cid:1)1306(cid:1)4(cloth) 1. Internationalbusinessenterprises(cid:2)Management. 2. Knowledge management. 3. Jointventures. 4. Investments,Foreign. 5. Transferpricing. 6. Competition,International. 7. International businessenterprises(cid:2)Developingcountries. I. Title HD62.4.B8282004 6580.049(cid:2)dc22 2004046494 10 9 8 7 6 5 4 3 2 1 13 12 11 10 09 08 07 06 05 04 PrintedandboundinGreatBritainby AntonyRoweLtd,ChippenhamandEastbourne To current and future members of the Institute for Research on Contemporary China (IRCC), University of Leeds This page intentionally left blank Contents ForewordbyStephenJ.Kobrin ix Acknowledgements xi NotesontheContributors xii 1 Introduction 1 Part I The Challenge 2 IstheInternationalBusinessResearchAgenda RunningoutofSteam? 7 Part II The Response 3 StrategicComplexityinInternationalBusiness (withMarkCasson) 19 4 Internationalization–RealOptions,Knowledge ManagementandtheUppsalaApproach(withMark CassonandMohammedAzzimGulamhussen) 54 5 GlobalizationandtheEndofCompetition:aCritical ReviewofRent-seekingMultinationals (withPervezN.Ghauri) 83 6 TrustinInternationalJointVentureRelationships (withMargreetF.BoersmaandPervezN.Ghauri) 101 7 TheChallengesoftheNewEconomyforMultinational Firms:LessonsforSouth-EastAsia 124 Part III Knowledge Management in Multinational Firms 8 ProcessandStructureinKnowledgeManagement PracticesofBritishandUSMultinationalEnterprises (withMartinJ.Carter) 145 9 GoverningKnowledgeSharinginMultinationalEnterprises (withMartinJ.Carter) 167 vii viii Contents Part IV Empirics 10 EvolutionofFDIintheUnitedStatesintheContext ofTradeLiberalizationandRegionalization(withJeremy Clegg,NicolasForsansandKevinT.Reilly) 189 11 TheImpactofInwardFDIonthePerformanceofChinese ManufacturingFirms(withJeremyCleggandChengqiWang) 198 12 FDI,RegionalDifferencesandEconomicGrowth:Panel DataEvidencefromChina(withJeremyClegg,ChengqiWang andAdamR.Cross) 220 13 IncentivestoTransferProfits:aJapanesePerspective (withJaneFrecknallHughes) 242 14 ASurvey-basedInvestigationoftheDeterminantsofFDI inPortugal(withFranciscoB.Castro) 254 Index 290 Foreword Insomerespectsinternationalbusinessisarelativelynewfieldofscholarly research. Many of those who were ‘present at the creation’ such as John Dunning,StefanRoebockandJeanBoddewynarestillactiveparticipantsin academic meetings.On theotherhand it hasbeenover 40 yearssince two events occurred in 1960 which can be taken as marking the separation of international business from international economics: the completion of StephenHymer’sseminaldissertationarguingthatforeigndirectinvestment (FDI) could not be explained as an international capital flow, and the first use of the term ‘multinational corporation’ by David Lillienthal at a con- ferenceatwhatisnowCarnegieMellonUniversity. One can only assume that the arguments about whether or not inter- nationalbusinesswasaseparatedisciplinestartedimmediately!Thatsome- whathoaryquestionaside,thereisnoquestionthatthefirstfewdecadesof international business research were dynamic, productive and exciting. GreatstridesweremadeinexplainingFDIphenomenologically,developing systematic and empirically based analyses of the strategy and structure of multinational firms, understanding the motives for and sequence of inter- national expansion, entry strategy and the management of joint ventures andalliances. Isuspectthatmanyofusinthefieldfeelthattheflowofnewknowledge has slowed considerably in the last decade. While international business researchers continue to be productive and there have been a large number of interesting new papers and bookspublished, itis hard tothinkof many majorbreakthroughssince thelast1980sandearly1990s. To some extent, this is a natural consequence of the maturity of any academicdiscipline.Asadisciplineagestheinitialburstofnewknowledge is replaced by deeper, more sophisticated and more empirically rigorous studiesofanecessarilymorelimitedscope.Ontheotherhand,itmayreflect theapproachingexhaustionofthecurrentparadigm(orparadigms):itmay resultfromdiminishingreturnsfromcurrentapproachestoscholarship. PeterBuckleyhurlssuchachallengeattheoutsetofthisvolume,suggest- ingthat‘theinternationalbusinessresearchagendaisrunningoutofsteam after a period of vibrancy’. Buckley argues that at this point international business lacks a ‘big research question’, an important confrontation with empiricalrealitythatthescholarsinthefieldcandealwithcollaboratively. In the chapters that follow Buckley and his co-authors and contributors suggestsomedirectionsforinternationalbusinessresearch,some‘bigprob- lems’thatwillre-energizeandreinvigoratethefieldandtheyprovidesome examples of methodologies and approaches to problems that will certainly ix
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