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Subsidiary Networks and Foreign Subsidiary Performance: A Coopetition Perspective

  • Yang Liu (a1), Jie Jiao (a2) and Jun Xia (a3)
Abstract

From a coopetition perspective, we differentiate between a multinational enterprise's product-similar subsidiary network and product-different subsidiary network in a host country. We argue that the product-similar network will have a curvilinear (inverted U-shaped) effect on foreign subsidiary performance, whereas the product-different network will produce a monotonic (positive) effect. Moreover, we introduce host-country economic advantage and intangible resource of the subsidiary as moderators into the relationship between subsidiary network and performance. Using longitudinal panel data of foreign subsidiaries, we find evidence that when host-country economic advantage is large, and the level of intangible asset intensity is high, the inverted U-shaped effect of product-similar subsidiary network is less pronounced. Moreover, host-country economic advantage and intangible asset intensity both enhance the positive effect of product-different subsidiary network. However, the moderating effect of intangible asset intensity is opposite to our prediction.

基于竞合(竞争与合作)的观点,我们区分了跨国企业在东道国的不同类型的子公司网络--产品相似的子公司网络和产品不同的子公司网络。我们认为产品相似的网络将对外国子公司的绩效产生非线型(倒U型)的作用,而产品不同的网络将产生正向作用。此外,我们将东道国经济优势和子公司的无形资源作为调节变量影响子公司网络与绩效之间的关系。利用国外子公司的纵向面板数据,我们发现当东道国经济优势较大,无形资产强度水平较高时,产品相似的子公司网络的倒U型作用的显著性下降。虽然我们预测东道国的经济优势和无形资产强度都将增强产品不同的子公司网络的正向作用,但无形资产强度的调节作用与我们的预测相反。

С точки зрения перспективы кооперативной конкуренции, в многонациональной компании мы различаем сети дочерних предприятий, которые производят одинаковые продукты, и сети дочерних предприятий, которые выпускают различные продукты в принимающей стране. Мы предполагаем, что наличие сети филиалов, производящих подобные продукты, будет оказывать криволинейный эффект (обратный U-образный) на производительность дочерней компании за рубежом, тогда как наличие сети филиалов, выпускающих различные продукты, будет производить монотонный (положительный) эффект. Кроме того, мы вводим экономическое преимущество принимающей страны и нематериальные ресурсы дочерней компании в качестве факторов, регулирующих взаимосвязь между сетью дочерних компаний и производительностью. На основании панельных данных из зарубежных филиалов за продолжительный период времени, мы находим доказательства того, что в случае, если экономическое преимущество принимающей страны велико, а уровень интенсивности нематериальных активов высокий, обратный U-образный эффект будет менее заметным для сети дочерних компаний, которые производят подобные продукты. Кроме того, экономическое преимущество принимающей страны и интенсивность нематериальных активов усиливают положительный эффект для сети дочерних компаний, производящих различные продукты. Тем не менее, регулирующий эффект, который зависит от интенсивности нематериальных активов, противоречит нашему предположению.

Desde una perspectiva de coopetición, diferenciamos entre una red de filiales de productos similares de una empresa multinacional y una red de filiales de productos diferenciados en un país anfitrión. Argumentamos que la red de productos similares tendrá un efecto curvilíneo (forma de U invertida) en el desempeño de la filial en el extranjero, mientras que la red de productos diferentes producirá un efecto monotónico (positivo). También, introducimos la ventaja económica del país anfitrión y el recurso intangible de la filial como moderadores de la relación entre red de la filial y desempeño. Usando datos de paneles longitudinales de filiales en el extranjero, encontramos evidencia de que cuando la ventaja económica del país anfitrión es grande, y el nivel de intensidad del activo intangible es alto, el efecto de forma de U invertida de una red de filiales de productos similares es menos pronunciada. Por otra parte, la ventaja económica del país anfitrión y la intensidad del activo intangible aumentan tanto el efecto positivo de la red de filiales de productos diferentes. Sin embargo, el efecto moderador de la intensidad del activo intangible es opuesto a nuestra predicción.

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Corresponding author
Corresponding author: Jie Jiao (jiaoj@sem.tsinghua.edu.cn)
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Accepted by: Senior Editor Bent Petersen

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