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The turtle–hare race story revisited: Social capital and resource accumulation for firms from emerging economies

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Abstract

How can firms from emerging economies, given their internal resource constraints, compete effectively with established multinational enterprises (MNEs) in home markets and gain capabilities for international expansion? We develop an integrative view of resources by incorporating network-based social capital theories and articulate that the depth and nature of emerging economy firms’ external social capital determine the direction and magnitude of resource exchanges with their business partners, and thus their effectiveness in accumulating critical internal resources. Throughout the development of our theoretical framework, we have also relied on empirical evidences from various business sources, including the cases on Lenovo and Shanghai Automotive Industry Corporation (SAIC). We conclude with scholarly and practical implications and future research avenues.

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Notes

  1. The story also implies that one can defeat a stronger opponent through unyielding perseverance, which is not our focus here.

  2. A detailed list of facts about Lenovo as well as their sources is listed in Appendix A, posted online at: http://www.utdallas.edu/~zlin.

  3. Interestingly, Lenovo forged very few business ties with indigenous PC manufacturers. This is sensible because the association with less advanced and less innovative partners would not increase or, perhaps, even decrease its net inflow of resources.

  4. A detailed list of facts about SAIC as well as their sources is listed in Appendix B, posted online at: http://www.utdallas.edu/~zlin.

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Authors and Affiliations

  1. Pamplin School of Business Administration, The University of Portland, 5000 North Willamette Blvd., Portland, OR, 97203, USA

    Lei Li

  2. School of Management, University of Texas at Dallas, Richardson, TX, 75083, USA

    Zhiang (John) Lin

  3. College of Business Administration, University of Missouri-St. Louis, One University Boulevard, St. Louis, MO, 63121-4400, USA

    Bindu Arya

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  1. Lei Li
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Correspondence to Zhiang (John) Lin.

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We thank Editor-in-Chief Mike Peng and the anonymous reviewers of Asia Pacific Journal of Management for their constructive suggestions for improving our manuscript. We also acknowledge the useful comments made by Richard Harrison and Roger Chen. An earlier version was presented at the 2003 Academy of International Business Annual Meeting. We are especially thankful to Greg Dess for his encouragement and support during the earlier phase of manuscript development. Donald Beebe provided able research assistance.

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Li, L., Lin, Z.(. & Arya, B. The turtle–hare race story revisited: Social capital and resource accumulation for firms from emerging economies. Asia Pacific J Manage 25, 251–275 (2008). https://doi.org/10.1007/s10490-007-9068-x

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