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ISEM学术论坛[114]Does performance shortfall lead to operational divestiture of a foreign subsidiary?

题目:Does performance shortfall lead to operational divestiture of a foreign subsidiary? The evidence from China
报告人:张婷婷 (Associate Professor, CUEB)
报告时间:2018年3月21日(周三) 13:30 pm
地点:国际经管学院会议室(诚明楼三层)
主办方:国际经济管理学院


摘要:Performance shortfall is a principal driver of foreign divestiture. Whereas prior research focuses on the relationship at multinational corporation (MNC) level, the operational responses of a foreign subsidiary are largely omitted. This study probes into the effect of performance shortfall on a foreign subsidiary’s divestiture decisions at operational level, based on the foreign subsidiaries in China between 2001 and 2006. The results show that performance shortfall compresses the investment of a foreign subsidiary in both size of factor inputs and efficiency improvement (TFP). However, due to the different flexibility properties of the two operational activities, the development of regional marketization and financial slacks of a subsidiary discriminate the main effects of performance shortfall. A better-marketized region facilitates a foreign subsidiary to develop its TFP as the response to the performance shortfall, while a high level of financial slacks induces a foreign subsidiary to invest more in factor inputs. The findings of this study add value to the literature of performance shortfall-divestiture relationship in international business, and provide the practical implications for managers of poorly performing subsidiaries in China.


报告人简介:Tingting Zhang is an Associate Professor of Capital University of Economics and Business. Her works mainly focus on institutional environment of emerging economies, FDI strategies, and corporate market & non-market strategies. 

 

(日期:2018-03-20 作者: 来源:)