Skip to main content
Log in

Theoretical foundations of emerging economy business research

  • Retrospective
  • Published:
Journal of International Business Studies Aims and scope Submit manuscript

Abstract

In “Probing Theoretically into Central and Eastern Europe: Transactions, Resources, and Institutions,” we outlined the contributions of research in Central and Eastern Europe (CEE) to theoretical debates in business research. In this retrospective, we reflect upon the evolution of the field over the past decade. With the fading impact of CEE’s distinct shared history, we suggest that CEE best be analyzed as emerging economies, rather than as a distinct geographic entity. Emerging economy business research is converging on common themes and shared theoretical ideas, while identifying critical variations that constrain generalizations among and beyond emerging economies. This research thus highlights the need to develop a better understanding of the boundary conditions of scholarly theories of business knowledge. Over the past decade, the institution-based view has emerged from distinct intellectual traditions in institutional economics, organizational theory, and the analysis of business–government bargaining. Research in these converging lines of theorizing places contextual variations at the center of explanations of business phenomena around the world. We suggest that the institution-based view is evolving toward a paradigm, and offer suggestions on how to advance this research agenda further, in particular by exploring how firms engage with different sets of potentially conflicting institutions at multiple levels and locations.

Abstract

Dans “Probing Theoretically into Central and Eastern Europe: Transactions, Resources, and Institutions", nous avons souligné les contributions de la recherche dans les pays d’Europe centrale et orientale (PECO) aux débats théoriques de la recherche en gestion. Dans cette rétrospective, nous réfléchissons à l'évolution de ce champ au cours de la dernière décennie. Avec l'impact déclinant d'une histoire partagée distincte des PECO, nous suggérons que les PECO peuvent être analysés comme un ensemble d’économies émergentes, plutôt que comme une entité géographique distincte. La recherche en gestion dans les économies émergentes converge sur des thèmes communs et des idées théoriques partagées, tout en identifiant les variations critiques qui limitent les généralisations parmi et au-delà des économies émergentes. Cette recherche met ainsi en évidence la nécessité de développer une meilleure compréhension des conditions limites des théories savantes des connaissances en gestion. Au cours de la dernière décennie, l’approche fondée sur les institutions a émergé des traditions intellectuelles distinctes de l'économie institutionnelle, de la théorie des organisations et de l'analyse de la négociation entreprise-gouvernement. La recherche au sein de ces axes convergents de théorisation place les variations contextuelles au centre des explications des phénomènes d'affaires dans le monde. Nous suggérons que l’approche fondée sur les institutions évolue vers un paradigme, et nous proposons des suggestions sur la façon de faire avancer ce programme de recherche, en particulier en étudiant comment les entreprises s’engagent à de multiples niveaux et localisations avec différents ensembles potentiellement conflictuels d’institutions.

Abstract

En "Sondeo teorético en Europa Central y Oriental: Transacciones, Recursos y las instituciones", esbozamos las contribuciones de la investigación en Europa Central y Oriental (ECO) a los debates teóricos de la investigación empresarial. En esta retrospectiva se reflexiona sobre la evolución en el campo en la última década. Con el impacto de desvanecimiento de la distintiva historia compartida de Europa central y oriental, sugerimos que la mejor manera analizarse Europa Central y Oriental es como economías emergentes, en lugar de como una entidad geográfica distinta. La investigación de negocios de economía emergente esta convergiendo en temas comunes e ideas teóricas compartidas, mientras se identifican variaciones criticas que limitan generalizaciones entre y más allá de las economías emergentes. Esta investigación por lo tanto resalta la necesidad de desarrollar un mejor entendimiento de las condiciones limites de las teorías académicas de conocimiento del negocio. En la última década, el enfoque basado en instituciones ha surgido de diferentes tradiciones intelectuales en economía institucional, teoría organizacional, y el análisis de la negociación empresarial-gubernamental. La investigación en estas líneas convergentes de la teorización pone variaciones contextuales en el centro de las explicaciones de los fenómenos empresariales alrededor del mundo. Sugerimos que el enfoque basado en instituciones está evolucionando hacia un paradigma, y ofrece sugerencias de cómo avanzar esta venidera agenda de investigación, en particular mediante la exploración de cómo las empresas se comprometen con diferentes conjuntos de instituciones potencialmente conflictivas en múltiples niveles y lugares.

Abstract

Em "Probing Theoretically into Central and Eastern Europe: Transactions, Resources, and Institutions", nós esboçamos as contribuições da pesquisa na Europa Central e Oriental (CEE) para debates teóricos na pesquisa de negócios. Nessa retrospectiva, refletimos sobre a evolução do campo ao longo da última década. Com a redução do impacto da história única e compartilhada da CEE, sugerimos que a CEE seja melhor analisada como economias emergentes, e não como uma entidade geográfica distinta. A pesquisa de negócios em economias emergentes está convergindo em temas comuns e ideias teóricas compartilhadas, enquanto identifica variações críticas que limitam generalizações entre e além de economias emergentes. Esta pesquisa destaca, dessa forma, a necessidade de desenvolver uma melhor compreensão das condições de contorno de teorias acadêmicas sobre o conhecimento de negócios. Ao longo da última década, a visão baseada nas instituições emergiu de distintas tradições intelectuais da economia institucional, teoria organizacional, e da análise da negociação entre governo e empresa. A pesquisa nessas linhas convergentes de teorização coloca variações contextuais no centro das explicações dos fenômenos de negócios ao redor do mundo. Sugerimos que a visão baseada em instituições está evoluindo na direção de um paradigma, e oferecemos sugestões sobre como avançar ainda mais essa agenda de pesquisa, em particular, pela exploração do modo como as empresas se envolvem com diferentes conjuntos de instituições potencialmente conflitantes em vários níveis e locais.

Abstract

在“理论探索中欧和东欧 : 交易、资源和制度”中, 我们概述了中欧和东欧 (CEE) 研究对商务研究理论辩论的贡献。在这篇回顾文章中, 我们反思了过去十年间该领域的发展。在CEE独特的共享历史的衰退影响下, 我们建议CEE最好作为新兴经济体被分析, 而不是作为独特的地理实体。当确定限制新兴经济体内外统一的关键变动时, 新兴经济商务研究正聚合于共同的主题和共享的理论思路。本研究因此强调更好地去理解商务知识学术理论的边界条件的需要。在过去的十年里, 制度基础观从制度经济学中独特的知识传统、组织理论和商业-政府谈判分析中出现了。这些理论化聚合路线的研究将情境变化放置在世界各地商务现象解释的中心。我们认为制度基础观正在演变成一种范式, 并为如何进一步推进这一研究议程提出建议, 尤其是通过探索公司如何在多元层次和位置时参与有潜在冲突的不同制度集。

This is a preview of subscription content, log in via an institution to check access.

Access this article

Price excludes VAT (USA)
Tax calculation will be finalised during checkout.

Instant access to the full article PDF.

Institutional subscriptions

Similar content being viewed by others

Notes

  1. In the absence of an agreed-upon label, Peng and Heath (1996) ended up using a very cumbersome term “planned economies in transition.” Meyer (1997) used “economies in transition.” To the best of our knowledge, the first time “transition economy” appeared as a title in a JIBS article was Luo and Peng (1999).

  2. For ease of argument, we selected these three lines of theorizing that have been most influential in emerging economy business research. Other traditions focusing on institutions include the varieties of capitalism (Carney, Gedajlovic, & Yang, 2009; Judge, Fainshmidt, & Brown, 2014; Hall & Soskice, 2001), business systems approach (Redding, 2005) and the co-evolution perspective that provides powerful insights in longitudinal studies of organizational development in emerging economies (Child & Rodrigues, 2009; Dielemann & Sachs, 2008; Suhomlinova, 2006). Separately, another stream of work deals with institutional entrepreneurship – how entrepreneurs take deliberate action to change the rules of the game within their organizational fields (Greenwood & Suddaby, 2006; Maguire, Hardy, & Lawrence, 2004). Also culture theorizing by anthropologists overlaps with the institutional literature (see Mark Peterson’s (2016) commentary on Meyer and Peng (2005) in this issue).

  3. We thank Dick Scott for raising this question during Meyer and Peng’s (2005) award session at the AIB in Bangalore, 30 June 2015.

  4. Papers with at least one-quarter (1/4) of the coverage on CEE are highlighted with *.

REFERENCES

Papers with at least one-quarter (1/4) of the coverage on CEE are highlighted with *.

  • Acquaah, M. 2007. Managerial social capital, strategic orientation, and organizational performance in an emerging economy. Strategic Management Journal, 28 (12): 1235–1255.

    Article  Google Scholar 

  • Aguilera, R., Desender, K., Bednar, M. K., & Lee, J. H. 2015. Connecting the dots: Bringing external corporate governance into the corporate governance puzzle. Academy of Management Annals, 9 (1): 483–573.

    Article  Google Scholar 

  • * Aidis, R., Estrin, S., & Mickiewicz, T. 2008. Institutions and entrepreneurship development in Russia: A comparative perspective. Journal of Business Venturing, 23 (6): 656–672.

    Article  Google Scholar 

  • * Akbar, Y. H., & Kisilowski, M. 2015. Managerial agency, risk, and strategic posture: Nonmarket strategies in the transitional core and periphery. International Business Review, advance online.

  • * Allmendinger, J., & Hackman, J. R. 1996. Organizations in changing environments: The case of East German symphony orchestras. Administrative Science Quarterly, 41 (3): 337–369.

    Article  Google Scholar 

  • Ambos, T. C., Ambos, B., & Schlegelmilch, B. B. 2006. Learning from foreign subsidiaries: An empirical investigation of headquarters’ benefits from reverse knowledge transfers. International Business Review, 15 (3): 294–312.

    Article  Google Scholar 

  • Antal-Mokos, Z. 1998. Privatisation, Politics, and Economic Performance in Hungary. Cambridge: Cambridge University Press.

    Google Scholar 

  • * Banalieva, E. 2014. Embracing the second best? Synchronization of reform speed, excess high discretion risk, and performance of transition economy firm. Global Strategy Journal, 4 (2): 104–126.

    Article  Google Scholar 

  • * Batjargal, B. 2007. Network triads: Transitivity, referral and venture capital decisions in China and Russia. Journal of International Business Studies, 38 (6): 998–1012.

    Article  Google Scholar 

  • Beamish, P. W., & Lupton, N. C. 2009. Managing joint ventures. Academy of Management Perspectives, 23 (2): 75–84.

    Article  Google Scholar 

  • Berry, H., Guillén, M. F., & Hendi, A. S. 2014. Is there convergence across countries? A spatial approach. Journal of International Business Studies, 45 (4): 387–404.

    Article  Google Scholar 

  • * Björkman, I., Fey, C. F., & Park, H. J. 2007. Institutional theory and MNC subsidiary HRM practices: Evidence from a three-country study. Journal of International Business Studies, 38 (3): 430–446.

    Article  Google Scholar 

  • Brødsgaard, K. E. 2012. Politics and business group formation in China: The party in control? China Quarterly, 211: 624–648.

    Article  Google Scholar 

  • * Brouthers, K. D. 2002. Institutional, cultural and transaction cost influences on entry mode choice and performance. Journal of International Business Studies, 33 (2): 203–221.

    Article  Google Scholar 

  • * Brouthers, K. D., & Bamossy, G. 1997. The role of key stakeholders in international joint venture negotiations: Cases from Eastern Europe. Journal of International Business Studies, 28 (2): 285–308.

    Article  Google Scholar 

  • * Brouthers, K. D., & Brouthers, L. E. 2001. Explaining the national cultural distance paradox. Journal of International Business Studies, 32 (1): 177–189.

    Article  Google Scholar 

  • Bruton, G. D., Ahlstrom, D., & Obloj, K. 2008. Entrepreneurship in emerging economies: Where are we today and where should research go in the future. Entrepreneurship Theory & Practice, 32 (1): 1–14.

    Article  Google Scholar 

  • Bruton, G. D., & Lau, C. M. 2008. Asian management research: Status today and future outlook. Journal of Management Studies, 45 (3): 636–659.

    Article  Google Scholar 

  • Bruton, G. D., Lau, C. M., & Obloj, K. 2014. Institutions, resources, and firm strategies: A comparative analysis of entrepreneurial firms in three transitional economies. European Journal of International Management, 8 (6): 697–718.

    Article  Google Scholar 

  • Bruton, G. D., Peng, M. W., Ahlstrom, D., Stan, C., & Xu, K. 2015. State-owned enterprises around the world as hybrid organizations. Academy of Management Perspectives, 29 (1): 92–114.

    Article  Google Scholar 

  • Burgess, S. M., & Steenkamp, J. E. M. 2006. Marketing renaissance: How research in emerging markets advances marketing science and practice. International Journal of Research in Marketing, 23 (4): 337–356.

    Article  Google Scholar 

  • * Caprar, D. V. 2011. Foreign locals: A cautionary tale on the culture of MNC local employees. Journal of International Business Studies, 42 (5): 608–628.

    Article  Google Scholar 

  • Carney, M. 2013. Growth and continuity at APJM. Asia Pacific Journal of Management, 30 (1): 1–5.

    Article  Google Scholar 

  • Carney, M., Gedajlovic, E., & Yang, X. 2009. Varieties of Asian capitalism: Toward an institutional theory of Asian enterprise. Asia Pacific Journal of Management, 26 (3): 361–380.

    Article  Google Scholar 

  • Chacar, A., & Vissa, B. 2005. Are emerging economies less efficient? Performance persistence and the impact of business group affiliation. Strategic Management Journal, 26 (10): 933–946.

    Article  Google Scholar 

  • Chang, Y. Y., Gong, Y., & Peng, M. W. 2012. Expatriate knowledge transfer, subsidiary absorptive capacity, and subsidiary performance. Academy of Management Journal, 55 (4): 927–948.

    Article  Google Scholar 

  • Chang, S. J., & Hong, J. 2000. Economic performance of group-affiliated companies in Korea: Intragroup resource sharing and internal business transactions. Academy of Management Journal, 43 (3): 429–448.

    Article  Google Scholar 

  • Chang, S. J., & Park, S. 2012. Winning strategies in China: Competitive dynamics between MNCs and local firms. Long Range Planning, 45 (1): 1–15.

    Article  Google Scholar 

  • Chapple, W., & Moon, J. 2005. Corporate social responsibility (CSR) in Asia: A seven-country study of CSR web site reporting. Business and Society, 44 (4): 415–441.

    Article  Google Scholar 

  • Chen, C. C., Chen, X. P., & Huang, S. 2013. Chinese guanxi: An integrative review and new directions for future research. Management and Organization Review, 9 (1): 167–207.

    Article  Google Scholar 

  • * Child, J., & Markóczy, L. 1993. Host-country managerial behavior and learning in Chinese and Hungarian joint ventures. Journal of Management Studies, 30 (4): 611–631.

    Article  Google Scholar 

  • Child, J., & Rodrigues, S. 2009. Corporate co-evolution: A political perspective. Basingstoke, UK: Blackwell.

    Google Scholar 

  • Chittoor, R., Sarkar, M. B., Ray, S., & Aulakh, P. S. 2009. Third-World copycats to emerging multinationals: Institutional changes and organizational transformation in the Indian pharmaceutical industry. Organization Science, 20 (1): 187–205.

    Article  Google Scholar 

  • Chizema, A., Liu, L. H., Lu, J. Y., & Gao, L. O. 2015. Politically connected boards and top executive pay in Chinese listed firms. Strategic Management Journal, 36 (6): 890–906.

    Article  Google Scholar 

  • * Clark, E., & Geppert, M. 2006. Socio-political processes in international management in post-socialist contexts: Knowledge, learning and transnational institution building. Journal of International Management, 12 (3): 340–357.

    Article  Google Scholar 

  • Cui, L., & Jiang, F. 2012. State ownership effect on firms’ FDI ownership decisions under institutional pressure: A study of Chinese outward-investing firms. Journal of International Business Studies, 43 (3): 264–284.

    Article  Google Scholar 

  • * Danis, W. M., Chiaburu, D. S., & Lyles, M. A. 2010. The impact of managerial networking intensity and market-based strategies on firm growth during institutional upheaval: A study of small and medium-sized enterprises in a transition economy. Journal of International Business Studies, 41 (3): 287–307.

    Article  Google Scholar 

  • de Jong, G., van Dut, V., Jindra, B., & Marek, P. 2015. Does country context distance determine subsidiary decision-making autonomy? Theory and evidence from European transition economies. International Business Review, advance online.

  • del Sol, P., & Kogan, J. 2007. Regional competitive advantage based on pioneering economic reforms: The case of Chilean FDI. Journal of International Business Studies, 38 (6): 901–927.

    Article  Google Scholar 

  • Delios, A., & Henisz, W. J. 2003. Policy uncertainty and the sequence of entry by Japanese firms, 1980–1998. Journal of International Business Studies, 34 (3): 227–241.

    Article  Google Scholar 

  • Deng, P. 2013. Chinese outward direct investment research: Theoretical integration and recommendations. Management and Organization Review, 9 (3): 513–539.

    Article  Google Scholar 

  • Dheer, R. J., Lenartowicz, T., & Peterson, M. F. 2015. Mapping India’s regional subcultures: Implications for international management. Journal of International Business Studies, 46 (4): 443–467.

    Article  Google Scholar 

  • Dielemann, M., & Boddewyn, J. 2012. Using organizational structure to buffer political ties in emerging markets: A case study. Organization Studies, 33 (1): 71–95.

    Article  Google Scholar 

  • Dielemann, M., & Sachs, W. M. 2008. Coevolution of institutions and corporations in emerging economies: How the Salim group morphed into an institution of Suharto’s crony regime. Journal of Management Studies, 45 (7): 1274–1300.

    Article  Google Scholar 

  • DiMaggio, P. J., & Powell, W. W. 1991. The new institutionalism in organizational analysis. Chicago, IL: University of Chicago Press.

    Google Scholar 

  • * Dixon, S., Meyer, K. E., & Day, M. 2010. Stages of organizational transformation in transition economies: A dynamic capabilities approach. Journal of Management Studies, 47 (3): 416–436.

    Article  Google Scholar 

  • * Djankov, S., & Murrell, P. 2002. Enterprise restructuring in transition: A quantitative survey. Journal of Economic Literature, 40 (3): 739–792.

    Article  Google Scholar 

  • Doh, J. P., Lawton, T. C., & Rajwani, T. 2012. Advancing nonmarket strategy research: Institutional perspectives in a changing world. Academy of Management Perspectives, 26 (3): 22–39.

    Article  Google Scholar 

  • Doh, J. P., Teegen, H., & Vachani, S. 2004. The importance of nongovernmental organizations (NGOs) in global governance and value creation. Journal of International Business Studies, 35 (6): 463–483.

    Article  Google Scholar 

  • Donaldson, L. 1995. American anti-management theories of organization. Cambridge: Cambridge University Press 301–317.

    Google Scholar 

  • Eden, L., Lenway, S., & Schuler, R. 2005. From the obsolescing bargain to the political bargaining model. In R. Grosse (Ed), Multinational enterprises and government relations: 301–317. Cambridge, UK: Cambridge University Press.

    Google Scholar 

  • * Estrin, S. 2002. Competition and corporate governance in transition. Journal of Economic Perspectives, 16 (1): 101–124.

    Article  Google Scholar 

  • * Estrin, S., Baghdasaryan, D., & Meyer, K. E. 2009a. Institutional distance and human resource distance in international business strategies in emerging economies. Journal of Management Studies, 46 (7): 1171–1196.

    Article  Google Scholar 

  • * Estrin, S., Hanousek, J., Kočenda, E., & Svejnar, J. 2009b. The effects of privatization and ownership in transition economies. Journal of Economic Literature, 47 (3): 699–728.

    Article  Google Scholar 

  • * Estrin, S., Meyer, K. E., & Bytchkova, M. 2006. Entrepreneurship in transition economies. In M. C. Casson, B. Yeung, A. Basu, & N. Wadeson (Eds), Oxford handbook of entrepreneurship, 693–725. Oxford, UK: Oxford University Press.

    Google Scholar 

  • Estrin, S., Meyer, K. E., Wright, M., & Foliano, F. 2008. Export propensity and intensity of subsidiaries in emerging economies. International Business Review, 17 (5): 574–586.

    Article  Google Scholar 

  • * Estrin, S., Poukliakova, S., & Shapiro, D. 2009c. The performance effects of business groups in Russia. Journal of Management Studies, 46 (3): 293–420.

    Article  Google Scholar 

  • Estrin, S., & Prevezer, M. 2011. The role of informal institutions in corporate governance: Brazil, Russia, India, and China compared. Asia Pacific Journal of Management, 28 (1): 41–67.

    Article  Google Scholar 

  • Fagre, N., & Wells, L. T. 1982. Bargaining power of multinationals and host governments. Journal of International Business Studies, 13 (2): 9–23.

    Article  Google Scholar 

  • * Filatotchev, I., Buck, T., & Zhukov, V. 2000. Downsizing privatized firms in Russia, Ukraine, and Belarus. Academy of Management Journal, 43 (3): 286–304.

    Article  Google Scholar 

  • * Filatotchev, I., Liu, X. H., Buck, T., & Wright, M. 2009. The export orientation and export performance of high-technology SMEs in emerging markets: The effects of knowledge transfer by returnee entrepreneurs. Journal of International Business Studies, 40 (6): 1005–1021.

    Article  Google Scholar 

  • * Filatotchev, I., Stephan, J., & Jindra, B. 2008. Ownership structure, strategic controls, and export intensity of foreign-invested firms in transition economies. Journal of International Business Studies, 39 (7): 1133–1148.

    Article  Google Scholar 

  • Fischer, S., Sahay, R., & Vegh, C. A. 1996. Stabilization and growth in transition economies: The early experience. Journal of Economic Perspectives, 10 (2): 45–66.

    Article  Google Scholar 

  • * Frese, M., Kring, W., Soose, A., & Zempel, J. 1996. Personal initiative at work: Differences between East and West Germany. Academy of Management Journal, 39 (1): 37–63.

    Article  Google Scholar 

  • * Gelbuda, M., Meyer, K. E., & Delios, A. 2008. International business and institutional development in Central and Eastern Europe. Journal of International Management, 14 (1): 1–12.

    Article  Google Scholar 

  • Gennaioli, N., La Porta, R., Lopez-de-Silanes, F., & Shleifer, A. 2014. Growth in regions. Journal of Economic Growth, 19 (3): 259–309.

    Article  Google Scholar 

  • Gifford, B., & Kestler, A. 2008. Toward a theory of local legitimacy by MNEs in developing nations: Newmont mining and health sustainable development in Peru. Journal of International Management, 14 (4): 340–352.

    Article  Google Scholar 

  • Globerman, S., & Shapiro, D. 2003. Governance infrastructure and US foreign direct investment. Journal of International Business Studies, 34 (1): 19–39.

    Article  Google Scholar 

  • Govindarajan, V., & Ramamurti, R. 2011. Reverse innovation, emerging markets, and global strategy. Global Strategy Journal, 1 (3–4): 191–205.

    Article  Google Scholar 

  • Greenwood, R., & Suddaby, R. 2006. Institutional entrepreneurship in mature fields: The Big Five accounting firms. Academy of Management Journal, 49 (1): 27–48.

    Article  Google Scholar 

  • * Grossman, G. 1977. The second economy of the USSR. Problems of Communism, 26 (5): 25–40.

    Google Scholar 

  • Hall, P., & Soskice, D. (Eds) 2001. Varieties of capitalism: The institutional foundations of comparative advantage. New York: Oxford University Press.

    Book  Google Scholar 

  • Hartman, L. P., Shaw, B., & Stevenson, R. 2003. Exploring the ethics and economics of global labor standards: A challenge to integrated social contract theory. Business Ethics Quarterly, 13 (2): 193–220.

    Article  Google Scholar 

  • Henisz, W. J. 2003. The power of the Buckley and Casson thesis: The ability to manage institutional idiosyncracies. Journal of International Business Studies, 34 (2): 173–184.

    Article  Google Scholar 

  • Henrich, J., Heine, S. J., & Norenzayan, A. 2010. The weirdest people in the world? Behavioral and Brain Sciences, 33 (2–3): 61–83.

    Article  Google Scholar 

  • Hillman, A. J., & Wan, W. P. 2005. The determinants of MNE subsidiaries’ political strategies: Evidence of institutional duality. Journal of International Business Studies, 36 (3): 322–340.

    Article  Google Scholar 

  • Holburn, G. L. F., & Zelner, B. A. 2010. Political capabilities, political risk, and international investment strategy: Evidence from the global electric power industry. Strategic Management Journal, 31 (12): 1290–1315.

    Article  Google Scholar 

  • Hoskisson, R. E., Eden, L., Lau, C. M., & Wright, M. 2000. Strategy in emerging economies. Academy of Management Journal, 43 (3): 249–267.

    Article  Google Scholar 

  • Hoskisson, R. E., Wright, M., Filatotchev, I., & Peng, M. W. 2013. Emerging multinationals from mid-range economies: The influence of institutions and factor markets. Journal of Management Studies, 50 (7): 1295–1321.

    Google Scholar 

  • Hotho, J. J., & Pedersen, T. 2012. Beyond the rules of the game: Three institutional approaches and how they matter for international business. In M. Demirbag, & G. Wood (Eds), Handbook of institutional approaches to international business: 366–368. Cheltenham, UK: Edward Elgar.

    Google Scholar 

  • Ingram, P., & Silverman, B. (Eds) 2002. The new institutionalism in strategic management. Amsterdam, The Netherlands: Elsevier.

    Google Scholar 

  • Ireland, R. D., Tihanyi, L., & Webb, J. W. 2008. A tale of two politico-economic systems: Implications for entrepreneurship in Central and Eastern Europe. Entrepreneurship Theory and Practice, 32 (1): 107–130.

    Article  Google Scholar 

  • Jiang, Y., Peng, M. W., Yang, X., & Mutlu, C. C. 2015. Privatization, governance, and survival: MNE investments in private participation projects in emerging economies. Journal of World Business, 50 (2): 294–301.

    Article  Google Scholar 

  • * Jindra, B., Giroud, A., & Scott-Kennel, J. 2009. Subsidiary roles, vertical linkages and economic development: Lessons from transition economies. Journal of World Business, 44 (2): 167–179.

    Article  Google Scholar 

  • * Johanson, M., & Johanson, J. 2006. Turbulence, discovery and foreign market entry: A longitudinal study of an entry into the Russian market. Management International Review, 46 (2): 179–205.

    Article  Google Scholar 

  • Judge, W. Q., Fainshmidt, S., & Brown, L. J. 2014. Which model of capitalism best delivers both wealth and equality? Journal of International Business Studies, 45 (4): 363–386.

    Article  Google Scholar 

  • * Kaasa, A., Vadi, M., & Verblane, U. 2014. Regional cultural differences within European countries: Evidence from multi-country surveys. Management International Review, 54 (6): 825–852.

    Article  Google Scholar 

  • Kafouros, M., & Aliyev, M. 2016. Institutional development and firm profitability in transition economies. Journal of World Business.

  • Khanna, T., & Palepu, K. 1999. The right way to restructure conglomerates in emerging markets. Harvard Business Review, 77 (4): 125–135.

    Google Scholar 

  • Khanna, T., & Yafeh, Y. 2007. Business groups in emerging markets: Paragons or parasites? Journal of Economic Literature, 45 (2): 331–372.

    Article  Google Scholar 

  • Kornai, J. 1992. The socialist system. Princeton, NJ: Princeton University Press.

    Book  Google Scholar 

  • Kostova, T., & Roth, K. 2002. Adoption of an organizational practice by subsidiaries of multinational corporations: Institutional and relational effects. Academy of Management Journal, 45 (1): 215–233.

    Article  Google Scholar 

  • Kostova, T., Roth, K., & Dacin, M. T. 2008. Institutional theory in the study of multinational corporations: A critique and new directions. Academy of Management Review, 33 (4): 994–1006.

    Article  Google Scholar 

  • Kostova, T., & Zaheer, S. 1999. Organizational legitimacy under conditions of complexity: The case of the multinational enterprise. Academy of Management Review, 24 (1): 64–81.

    Google Scholar 

  • * Lavigne, M. 1996. Economics of transition. Basingstoke, UK: Palgrave Macmillan.

    Google Scholar 

  • Lebedev, S., Peng, M. W., Xie, E., & Stevens, C. E. 2015. Mergers and acquisitions in and out of emerging economies. Journal of World Business. in press.

  • Lecraw, D. J. 1984. Bargaining power, ownership, and profitability of transnational corporations in developing countries. Journal of International Business Studies, 15 (1): 27–43.

    Article  Google Scholar 

  • * Ledeneva, A. V. 1998. Russia’s economy of favors: Blat, networking, and informal exchange. Cambridge, UK: Cambridge University Press.

    Google Scholar 

  • Li, D., Eden, L., & Beamish, P. W. 2013a. Place, space and geographic exposure: Foreign subsidiary survival in conflict zones. Journal of International Business Studies, 44 (6): 554–578.

    Article  Google Scholar 

  • Li, M. H., Cui, L., & Lu, J. 2014. Varieties in state capitalism: Outward FDI strategies of central and local state-owned enterprises from emerging economy countries. Journal of International Business Studies, 45 (8): 980–1004.

    Article  Google Scholar 

  • Li, J., Newenham-Kahindi, A., Shapiro, D., & Chen, V. 2013b. The two tier bargaining model revisited: Theory and evidence from China’s natural resource investments in Africa. Global Strategy Journal, 3 (4): 300–321.

    Article  Google Scholar 

  • Li, Y., Peng, M. W., & Macaulay, C. 2013c. Market-political ambidexterity during institutional transitions. Strategic Organization, 11 (2): 205–213.

    Article  Google Scholar 

  • Lu, J., & Xu, D. 2006. Growth and survival of international joint ventures: An external–internal legitimacy perspective. Journal of Management, 32 (3): 426–448.

    Article  Google Scholar 

  • Luo, Y., & Peng, M. W. 1999. Learning to compete in a transition economy: Experience, environment, and performance. Journal of International Business Studies, 30 (2): 269–296.

    Article  Google Scholar 

  • Luo, Y., & Tung, R. L. 2007. International expansion of emerging market enterprise: A springboard perspective. Journal of International Business Studies, 38 (4): 481–499.

    Article  Google Scholar 

  • Luo, Y., Xue, Q., & Han, B. 2010. How emerging market governments promote outward FDI: Experience from China. Journal of World Business, 45 (1): 68–79.

    Article  Google Scholar 

  • * Lyles, M. A., & Salk, J. 1996. Knowledge acquisition from foreign partners in international joint ventures: An empirical examination in the Hungarian context. Journal of International Business Studies, 27 (5): 877–903.

    Article  Google Scholar 

  • Ma, X., Tong, T. W., & Fitza, M. 2013. How much does subnational region matter to foreign subsidiary performance? Evidence from Fortune Global 500 corporations’ investment in China. Journal of International Business Studies, 44 (1): 66–87.

    Article  Google Scholar 

  • Maguire, S., Hardy, C., & Lawrence, T. B. 2004. Institutional entrepreneurship in emerging fields: HIV/AIDS treatment advocacy in Canada. Academy of Management Journal, 47 (5): 657–679.

    Article  Google Scholar 

  • Mair, J., Martí, I., & Ventresca, M. J. 2012. Building inclusive markets in rural Bangladesh: How intermediaries work institutional voids. Academy of Management Journal, 55 (4): 819–850.

    Article  Google Scholar 

  • Manikandan, K. S., & Ramachandran, J. 2015. Beyond institutional voids: Business groups, incomplete markets, and organizational form. Strategic Management Journal, 36 (4): 598–617.

    Article  Google Scholar 

  • March, J. 2005. Parochialism in the evolution of a research community: The case of organization studies. Management and Organization Review, 1 (1): 5–22.

    Article  Google Scholar 

  • Martinez, C. A., & Kalliny, M. 2012. Academic research in the Latin American context: A review of the empirical literature, 1990–2010. Multinational Business Review, 29 (3): 231–247.

    Article  Google Scholar 

  • McKinley, W., Mone, M., & Moon, G. 1999. Determinants and development of schools in organization theory. Academy of Management Review, 24 (4): 634–648.

    Google Scholar 

  • Megginson, W. L., & Netter, J. M. 2001. From state to market: A survey of empirical studies on privatization. Journal of Economic Literature, 39 (2): 321–389.

    Article  Google Scholar 

  • * Meyer, K. E. 1997. Determinants of direct foreign investment in the economies in transition in Central and Eastern Europe. PhD thesis, London Business School.

  • * Meyer, K. E. 2001. Institutions, transaction costs and entry mode choice in Eastern Europe. Journal of International Business Studies, 31 (2): 357–367.

    Article  Google Scholar 

  • * Meyer, K. E. 2002. Management challenges in privatization acquisitions in transition economies. Journal of World Business, 37 (4): 266–276.

    Article  Google Scholar 

  • Meyer, K. E. 2004. Perspectives on multinational enterprises in emerging economies. Journal of International Business Studies, 34 (4): 259–277.

    Article  Google Scholar 

  • * Meyer, K. E. 2007. Contextualizing organizational learning: Lyles and Salk in the context of their research. Journal of International Business Studies, 38 (1): 27–37.

    Article  Google Scholar 

  • Meyer, K. E. 2015. What is strategic asset seeking FDI? Multinational Business Review, 23 (1): 57–66.

    Article  Google Scholar 

  • Meyer, K. E., Ding, Y., Li, J., & Zhang, H. 2014. Overcoming distrust: How state-owned enterprises adapt their foreign entries to institutional pressures. Journal of International Business Studies, 45 (8): 1005–1028.

    Article  Google Scholar 

  • * Meyer, K. E., & Estrin, S. 2001. Brownfield entry in emerging markets. Journal of International Business Studies, 31 (3): 575–584.

    Article  Google Scholar 

  • * Meyer, K. E., Estrin, S., Bhaumik, S. K., & Peng, M. W. 2009. Institutions, resources, and entry strategies in emerging economies. Strategic Management Journal, 30 (1): 61–80.

    Article  Google Scholar 

  • Meyer, K. E., Mudambi, R., & Narula, R. 2011. Multinational enterprises and local contexts. Journal of Management Studies, 48 (2): 235–253.

    Google Scholar 

  • Meyer, K. E., & Nguyen, H. V. 2005. Foreign investment strategies and sub-national institutions in emerging markets: Evidence from Vietnam. Journal of Management Studies, 42 (1): 63–93.

    Article  Google Scholar 

  • * Meyer, K. E., & Peng, M. W. 2005. Probing theoretically into Central and Eastern Europe: Transactions, resources, and institutions. Journal of International Business Studies, 36 (6): 600–621.

    Article  Google Scholar 

  • Meyer, K. E., & Skak, A. 2002. Networks, serendipity and SME entry into Eastern Europe. European Management Journal, 20 (2): 179–188.

    Article  Google Scholar 

  • Meyer, K. E., & Thaijongrak, O. 2013. The dynamics of emerging economy MNEs: How the internationalization process model can guide future research. Asia Pacific Journal of Management, 30 (4): 1125–1153.

    Article  Google Scholar 

  • Meyer, K. E., & Thein, H. H. 2014. Business under adverse home country institutions: The case of international sanctions against Myanmar. Journal of World Business, 49 (1): 156–171.

    Article  Google Scholar 

  • * Meyer, K. E., & Tran, Y. T. T. 2006. Market penetration and acquisition strategies for emerging economies. Long Range Planning, 39 (2): 177–197.

    Article  Google Scholar 

  • Meyer, K. E., & Wang, Y. 2015. Transaction cost perspectives on alliances and joint ventures: Explanatory power and empirical limitations. In J. Larimo, N. Nummela, & T. Mainela (Eds), Handbook on international alliance and network research, 87–136. Cheltenham, UK: Edward Elgar.

    Chapter  Google Scholar 

  • * Michailova, S., & Hutchings, K. 2006. National cultural influences on knowledge sharing: A comparison of China and Russia. Journal of Management Studies, 43 (3): 383–406.

    Article  Google Scholar 

  • * Michailova, S., & Worm, V. 2003. Personal networking in Russia and China: Blat and guanxi. European Management Journal, 21 (4): 509–519.

    Article  Google Scholar 

  • * Mihailova, I. 2015. Outcomes of learning through JVs for local parent firms in transition economies: Evidence from Russia. Journal of World Business, 50 (1): 220–233.

    Article  Google Scholar 

  • * Minbaeva, D., Pedersen, T., Björkman, I., Fey, C. F., & Park, H. J. 2003. MNC knowledge transfer, subsidiary absorptive capacity, and HRM. Journal of International Business Studies, 34 (6): 586–599.

    Article  Google Scholar 

  • * Minbaeva, D., Pedersen, T., Björkman, I., Fey, C. F., & Park, H. J. 2014. Retrospective: MNC knowledge transfer, subsidiary absorptive capacity, and HRM. Journal of International Business Studies, 45 (1): 38–51.

    Article  Google Scholar 

  • Morck, R., Yeung, B., & Zhao, M. 2008. Perspectives on China’s outward foreign direct investment. Journal of International Business Studies, 39 (3): 337–350.

    Article  Google Scholar 

  • * Musteen, M., Datta, D. K., & Francis, J. 2014. Early internationalization by firms in transition economies into developed markets: The role of international networks. Global Strategy Journal, 4 (3): 221–237.

    Article  Google Scholar 

  • Mutlu, C. C., Wu, Z., Peng, M. W., & Lin, Z. 2015. Competing in (and out of) transition economies. Asia Pacific Journal of Management, 32 (3): 571–596.

    Article  Google Scholar 

  • Narayanan, V. K., & Fahey, L. 2005. The relevance of the institutional underpinnings of Porter’s five forces framework to emerging economies: An epistemological analysis. Journal of Management Studies, 42 (1): 207–223.

    Article  Google Scholar 

  • Narula, R., & Dunning, J. H. 2000. Industrial development, globalization and multinational enterprises: New realities for developing countries. Oxford Development Studies, 28 (2): 141–167.

    Article  Google Scholar 

  • Nebus, J., & Rufin, C. 2010. Extending the bargaining power model: Explaining bargaining outcomes among nations, MNEs and NGOs. Journal of International Business Studies, 41 (6): 996–1015.

    Article  Google Scholar 

  • * Newman, K. L. 2000. Organizational transformation during institutional upheaval. Academy of Management Review, 25 (3): 602–619.

    Google Scholar 

  • Nguyen, T. V., Le, N. T. B., & Bryant, S. E. 2013. Sub-national institutions, firm strategies and firm performance: A multi-level study of private manufacturing firms in Vietnam. Journal of World Business, 48 (1): 68–76.

    Article  Google Scholar 

  • North, D. C. 1990. Institutions, institutional change, and economic performance. New York: Norton.

    Book  Google Scholar 

  • * Obloj, T., Obloj, K., & Pratt, M. G. 2010. Dominant logic and entrepreneurial firms’ performance in a transition economy. Entrepreneurship Theory and Practice, 34 (1): 151–170.

    Article  Google Scholar 

  • * Okhmatovskiy, O. 2010. Performance implications of ties to the government and SOEs: A political embeddedness perspective. Journal of Management Studies, 47 (6): 1020–1047.

    Article  Google Scholar 

  • * Peng, M. W. 2000. Business strategies in transition economies. Thousand Oaks, CA: Sage.

    Google Scholar 

  • * Peng, M. W. 2001. How entrepreneurs create value in transition economies. Academy of Management Executive, 15 (1): 95–108.

    Article  Google Scholar 

  • Peng, M. W. 2003. Institutional transitions and strategic choices. Academy of Management Review, 28 (2): 275–296.

    Google Scholar 

  • Peng, M. W. 2007. Celebrating 25 years of Asia Pacific management research. Asia Pacific Journal of Management, 24 (4): 385–393.

    Article  Google Scholar 

  • Peng, M. W. 2012. The global strategy of emerging multinationals from China. Global Strategy Journal, 2 (2): 97–107.

    Article  Google Scholar 

  • * Peng, M. W., & Heath, P. S. 1996. The growth of the firm in planned economies in transition: Institutions, organizations, and strategic choice. Academy of Management Review, 21 (2): 492–528.

    Google Scholar 

  • Peng, M. W., & Luo, Y. 2000. Managerial ties and firm performance in a transition economy: The nature of a micro-macro link. Academy of Management Journal, 43 (3): 486–501.

    Article  Google Scholar 

  • Peng, M. W., & Meyer, K. E. 2013. Winning the future markets for UK manufacturing output. Future of Manufacturing Project Evidence Paper 25. London: Government Office for Science.

  • Peng, M. W., & Meyer, K. E. 2016. International business, 2nd edn. London: Cengage Learning EMEA, in press.

    Google Scholar 

  • Peng, M. W., Sun, S. L., & Markóczy, L. 2015. Human capital and CEO compensation during institutional transitions. Journal of Management Studies, 51 (1): 117–147.

    Article  Google Scholar 

  • Peng, M. W., Sun, S. L., Pinkham, B., & Chen, H. 2009. The institution-based view as a third leg for a strategy tripod. Academy of Management Perspectives, 23 (3): 63–81.

    Article  Google Scholar 

  • Peng, M. W., Wang, D. Y. L., & Jiang, Y. 2008. An institution-based view of international business strategy: A focus on emerging economies. Journal of International Business Studies, 39 (5): 920–936.

    Article  Google Scholar 

  • Peterson, M. F. 2016. A culture theory commentary on Meyer and Peng’s theoretical probe into Central and Eastern Europe. Journal of International Business Studies, this issue.

  • Peterson, M. F., & Søndergaard, M. 2014. Countries, within-country regions, and multiple-country regions in international management: A functional, institutional and critical event (FICE) perspective. Management International Review, 54 (6): 781–800.

    Article  Google Scholar 

  • Pfeffer, J. 1993. Barriers to the advance of organizational science: Paradigm development as a dependent variable. Academy of Management Review, 18 (4): 599–620.

    Google Scholar 

  • Porter, M. E. 1980. Competitive strategy. New York: Free Press.

    Google Scholar 

  • Prashantham, S., & Dhanaraj, C. 2010. The dynamic influence of social capital on the international growth of new ventures. Journal of Management Studies, 47 (6): 967–994.

    Article  Google Scholar 

  • * Puffer, S. M., & McCarthy, D. J. 2011. Two decades of Russian business and management research: An institutional theory perspective. Academy of Management Perspectives, 25 (2): 21–36.

    Article  Google Scholar 

  • * Puffer, S. M., McCarthy, D. J., & Boisot, M. 2010. Entrepreneurship in Russia and China: The impact of formal institutional voids. Entrepreneurship Theory and Practice, 34 (3): 441–467.

    Article  Google Scholar 

  • * Puffer, S. M., McCarthy, D. J., Jaeger, A. M., & Dunlap, D. 2013. The use of favors by emerging market managers: Facilitator or inhibitor of international expansion? Asia Pacific Journal of Management, 30 (2): 327–349.

    Article  Google Scholar 

  • Quer, D., Claver, E., & Rienda, L. 2012. Political risk, cultural distance, and outward foreign direct investment: Empirical evidence from large Chinese firms. Asia Pacific Journal of Management, 29 (4): 1089–1104.

    Article  Google Scholar 

  • * Ralston, D. A., Holt, D. H., Terpstra, R. H., & Yu, K. 1997. The impact of national culture and economic ideology on managerial work values: A study of the United States, Russia, Japan, and China. Journal of International Business Studies, 28 (1): 177–207.

    Article  Google Scholar 

  • Ramamurti, R. 2000. A multilevel model of privatization in emerging economies. Academy of Management Review, 25 (3): 525–550.

    Google Scholar 

  • Ramamurti, R. 2012. What is really different about emerging market multinationals? Global Strategy Journal, 2 (1): 41–47.

    Article  Google Scholar 

  • Ramasamy, B., Yeung, M., & Laforet, S. 2012. China’s outward foreign direct investment: Location choice and firm ownership. Journal of World Business, 47 (1): 17–25.

    Article  Google Scholar 

  • Redding, G. 2005. The thick description and comparison of societal systems of capitalism. Journal of International Business Studies, 36 (2): 123–155.

    Article  Google Scholar 

  • Ronen, S., & Shenkar, O. 2013. Mapping world cultures: Cluster formation, sources and implications. Journal of International Business Studies, 44 (9): 867–897.

    Article  Google Scholar 

  • * Santangelo, G., & Meyer, K. E. 2011. Extending the internationalization process model: Increases and decreases of MNE commitment in emerging economies. Journal of International Business Studies, 42 (7): 894–909.

    Article  Google Scholar 

  • Schultz, M., & Hatch, M. J. 1996. Living with multiple paradigms: The case of paradigm Interplay in organizational culture studies. Academy of Management Review, 21 (2): 529–557.

    Google Scholar 

  • Scott, W. R. 2003. Institutions and organizations. Thousand Oaks, CA: Sage.

    Google Scholar 

  • Shaver, J. M. 2013. Do we really need more entry mode studies? Journal of International Business Studies, 44 (1): 23–27.

    Article  Google Scholar 

  • Shenkar, O. 2001. Cultural distance revisited: Towards a more rigorous conceptualization and measurement of cultural differences. Journal of International Business Studies, 32 (3): 519–535.

    Article  Google Scholar 

  • Shi, W., Markóczy, L., & Stan, C. 2014. The continuing importance of political ties in China. Academy of Management Perspectives, 28 (1): 57–75.

    Article  Google Scholar 

  • Shi, W., Sun, S. L., & Peng, M. W. 2012. Sub-national institutional contingencies, network positions, and IJV partner selection. Journal of Management Studies, 49 (7): 1221–1245.

    Article  Google Scholar 

  • * Shinkle, G. A., & Kriauciunas, A. P. 2012. The impact of current and founding institutions on strength of competitive aspirations in transition economies. Strategic Management Journal, 33 (4): 448–458.

    Article  Google Scholar 

  • Slangen, A. H., & Beugelsdijk, S. 2010. The impact of institutional hazards on foreign multinational activity: A contingency perspective. Journal of International Business Studies, 41 (6): 980–995.

    Article  Google Scholar 

  • Spar, D. L., & Yoffie, D. 1999. Multinational enterprises and the prospect for justice. Journal of International Affairs, 52 (2): 557–581.

    Google Scholar 

  • * Spicer, A., McDermott, G., & Kogut, B. 2000. Entrepreneurship and privatization in Central Europe: The tenuous balance between destruction and creation. Academy of Management Review, 25 (3): 630–649.

    Google Scholar 

  • * Steensma, H. K., & Lyles, M. A. 2000. Explaining IJV survival in a transitional economy through social exchange and knowledge-based perspectives. Strategic Management Journal, 21 (1): 831–851.

    Article  Google Scholar 

  • * Steensma, H. K., Tihanyi, L., Lyles, M. A., & Dhanaraj, C. 2005. The evolving value of foreign partnerships in transitioning economies. Academy of Management Journal, 48 (2): 213–235.

    Article  Google Scholar 

  • Stevens, C. E., Xie, E., & Peng, M. W. 2015. Toward a legitimacy-based view of political risk: The case of Google and Yahoo in China. Strategic Management Journal, in press.

  • Stopford, J., & Strange, S. 1991. Rival firms, rival states. Cambridge, UK: Cambridge University Press.

    Book  Google Scholar 

  • * Suhomlinova, O. 2006. Toward a model of organizational co-evolution in transition economies. Journal of Management Studies, 43 (7): 1537–1558.

    Article  Google Scholar 

  • Sun, P., Mellahi, K., & Wright, M. 2012. The contingent value of corporate political ties. Academy of Management Perspectives, 26 (3): 68–82.

    Article  Google Scholar 

  • * Svejnar, J. 2002. Transition economies: Performance and challenges. Journal of Economic Perspectives, 16 (1): 3–28.

    Article  Google Scholar 

  • Taylor, S., Levy, O., Boyacigiller, N. A., & Beechler, S. 2008. Employee commitment in MNCs: Impacts of organizational culture, HRM and top management orientations. International Journal of Human Resource Management, 19 (4): 501–527.

    Article  Google Scholar 

  • Tihanyi, L., Griffith, D.A., & Russell, C.L. 2012. The effect cultural distance on entry mode choice, international diversification, and MNE performance: A meta-analysis. Journal of International Business Studies, 36 (3): 270–283.

    Article  Google Scholar 

  • Tirole, J. 1988. The theory of industrial organization. Cambridge, MA: MIT Press.

    Google Scholar 

  • * Uhlenbruck, K., & De Castro, J. 2000. Foreign acquisitions in Central and Eastern Europe: Outcomes of privatization in transition economies. Academy of Management Journal, 43 (3): 381–402.

    Article  Google Scholar 

  • * Uhlenbruck, K., Meyer, K. E., & Hitt, M. A. 2003. Organizational transformation in transition economies: Resource-based and organizational learning perspectives. Journal of Management Studies, 40 (2): 257–282.

    Article  Google Scholar 

  • Vassolo, R. S., De Castro, J. O., & Gomez-Mejia, L. R. 2011. Managing in Latin America: Common issues and a research agenda. Academy of Management Perspectives, 25 (4): 22–36.

    Article  Google Scholar 

  • Wang, C. Q., Hong, J. J., Kafouros, M., & Wright, M. 2012a. Exploring the role of government involvement in outward FDI from emerging economies. Journal of International Business Studies, 43 (7): 655–676.

    Article  Google Scholar 

  • Wang, J., Guthrie, D., & Xiao, Z. 2012b. The rise of SASAC: Asset management, ownership concentration, and firm performance in China’s capital markets. Management and Organization Review, 8 (2): 253–281.

    Article  Google Scholar 

  • Welch, D. E., & Welch, L. S. 2006. Commitment for hire? The viability of corporate culture as a MNC control mechanism. International Business Review, 15 (1): 14–28.

    Article  Google Scholar 

  • Whetten, D. A. 1989. What constitutes a theoretical contribution? Academy of Management Review, 14 (4): 490–495.

    Article  Google Scholar 

  • Williams, C. A., & Aguilera, R. V. 2008. Corporate social responsibility in a comparative perspective. In A. Crane, A. McWilliams, D. Matten, J. Moon, & D.S. Siegel (Eds), Oxford handbook of corporate social responsibility: 452–472. Oxford, UK: Oxford University Press.

    Google Scholar 

  • Williamson, O. E. 2000. The new institutional economics: Taking stock, looking ahead. Journal of Economic Literature, 38 (3): 595–613.

    Article  Google Scholar 

  • Wiseman, R. M., Cuervas-Rodríguez, G., & Gomez-Mejia, L. R. 2012. Towards a social theory of agency. Journal of Management Studies, 49 (1): 202–222.

    Article  Google Scholar 

  • Witt, M. A., & Lewin, A. Y. 2007. Outward foreign direct investment as escape response to home country institutional constraints. Journal of International Business Studies, 38 (4): 579–594.

    Article  Google Scholar 

  • *World Bank. 1996. World development report: From plan to market. Washington, DC: World Bank.

  • Wright, M., Filatotchev, I., Hoskisson, R. E., & Peng, M. W. 2005. Strategy research in emerging economies: Challenging the conventional wisdom. Journal of Management Studies, 41 (1): 1–33.

    Article  Google Scholar 

  • * Xia, J., Boal, K., & Delios, A. 2009. When experience meets national institutional environmental change: Foreign entry attempts of US firms in the Central and Eastern European region. Strategic Management Journal, 30 (12): 1286–1309.

    Article  Google Scholar 

  • Xu, D., & Meyer, K. E. 2013. Linking theory and context: “Strategy research in emerging economies” after Wright et al. (2005). Journal of Management Studies, 50 (7): 1322–1346.

    Google Scholar 

  • Yang, Q. A., Mudambi, R., & Meyer, K. E. 2008. Conventional and reverse knowledge flows in multinational corporations. Journal of Management, 34 (5): 882–902.

    Article  Google Scholar 

  • Yiu, D., & Makino, S. 2002. The choice between joint venture and wholly-owned subsidiary: An institutional perspective. Organization Science, 13 (6): 667–683.

    Article  Google Scholar 

  • Young, M. N., Peng, M. W., Ahlstrom, D., Bruton, G. D., & Jiang, Y. 2008. Corporate governance in emerging economies: A review of the principal–principal perspective. Journal of Management Studies, 45 (1): 196–220.

    Article  Google Scholar 

  • Zahra, S. A. 2011. Doing research in the (new) Middle East: Sailing with the wind. Academy of Management Perspectives, 25 (4): 6–21.

    Article  Google Scholar 

  • Zhang, J., Zhou, C., & Ebbers, H. 2011. Completion of Chinese overseas acquisitions: Institutional perspectives and evidence. International Business Review, 20 (2): 226–238.

    Article  Google Scholar 

  • Zhao, M., Park, S. H. S., & Zhou, N. 2014. MNC strategy and social adaptation in emerging markets. Journal of International Business Studies, 45 (7): 842–861.

    Article  Google Scholar 

  • Zoogah, D., Peng, M. W., & Woldu, H. 2015. Institutions, resources, and organizational effectiveness in Africa. Academy of Management Perspectives, 29 (1): 7–31.

    Article  Google Scholar 

Download references

Acknowledgements

We appreciate the JIBS Decade Award Selection Committee (Mark Peterson [chair], Ram Mudambi, and Beth Rose) for their encouragement; John Cantwell (editor-in-chief), Tomas Hult, Tatiana Kostova, Mark Peterson (discussants), and two anonymous reviewers for valuable comments; Chris Carr, Jose de la Torre, and Dick Scott for provocative questions during our award session at AIB Bangalore; Greg Dess, Seung-Hyun Lee, Krzysztof Obloj, Jane Salk, Eric Tsang, and Habte Woldu for helpful written feedback; Daniel Chng and Jenny Zhu for collaboration in case research; and Xin Chen, Alexandra Han, Sergey Lebedev, and Cristina Vlas for able assistance. We also thank Brian Silverman (action editor) for accepting our 2005 paper. Finally, we thank the CEIBS Research Center for Emerging Market Studies and the Jindal Chair at UT Dallas for financial support of this research.

Author information

Authors and Affiliations

Authors

Corresponding author

Correspondence to Klaus E Meyer.

Additional information

Accepted by John Cantwell, Editor-in-Chief, 20 August 2015. This paper was single-blind reviewed.

Rights and permissions

Reprints and permissions

About this article

Check for updates. Verify currency and authenticity via CrossMark

Cite this article

Meyer, K., Peng, M. Theoretical foundations of emerging economy business research. J Int Bus Stud 47, 3–22 (2016). https://doi.org/10.1057/jibs.2015.34

Download citation

  • Received:

  • Revised:

  • Accepted:

  • Published:

  • Issue Date:

  • DOI: https://doi.org/10.1057/jibs.2015.34

Keywords

Navigation