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Learning breakdown in latecomer multinational enterprises
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DOI：10.1007/s10490-016-9502-z.png)
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Abstract
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Integrating the linkage, leverage, and learning (LLL) model with institutional economics, this paper develops a moderated mediation framework to examine the relationship between internationalization and the performance of multinational enterprises from latecomer economies (latecomer MNEs). In the framework, whether a latecomer MNE may succeed in learning and knowledge-led profit gains from internationalization is contingent on the development of market-oriented institutions in the country in which it is based. Latecomer MNEs based in countries with a high level of the development of market-oriented institutions are likely to succeed in learning to obtain knowledge-led profit gains from internationalization. Latecomer MNEs based in countries with a low level of the development of market-oriented institutions are likely to experience a breakdown in learning, and a failure in knowledge-led profit gains from internationalization. This paper provides robust evidence on the relationship between internationalization and the performance of latecomer MNEs conditional on the development of market-oriented institutions in their home countries, and discusses strategic implications for latecomer MNE managers.
Keywords:
Latecomer
Multinational enterprise
Learning
Institutions
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