The Study of Chinese Enterprises ' International Market Entry Mode Choice: A Resource-based Perspective under Multidimensional Institutional Environment
Abstract：In recent years， institutional theory has been increasingly applied to the explanation of the influence of international environment and its difference in entry mode choice. However， most of researches based on institutional theory only discover the direct influence of institutional difference in different dimensions， while comparative analyses are lacking. In fact， international environment is complex， and institutional factors， such as regulation， norm， cultural cognition etc.， are not consistent all the time， which sometimes have uncertainties and are in conflict with each other. Furthermore， China， which is influenced by Confucianism， is relatively similar to East Asian countries like Japan， Hong Kong， and Taiwan in terms of culture， and are distinctively different from Eastern European countries. On the other hand， it is relatively similar to Eastern European countries in terms of regulation， which is different from East Asian countries. Therefore， existing studies cannot sufficiently explain the complexity of the effects of international institutional environmental on entry mode choice． Therefore， in order to determine the applicability and explanatory power of institutional difference in different dimensions， it is necessary to apply them to each distinctive context. On the other hand， it is necessary to observe the moderating effect of them on entry mode choice. The resources view regards firm-specific resources as the core of firm， and divides them into technical resources and marketing resources. Hence， this study explores the influence of international institutional environment on entry mode choice from the perspective of resources. For this purpose， the data of outward foreign direct investment activities and host countries are collected from the List of Overseas Investment Enterprises （Institutions） from Department of Outward Investment and Economic Cooperation of Ministry of Commerce， People 's Republic of China， the annual reports and announcements of listed companies， and the book ″global competitiveness report.″ Finally， we acquired 538 foreign direct investment activities of 210 listed companies during 2008—2012， and classified the samples in two groups according to their relative institutional value to China 's institutional value． The analysis results have confirmed that the moderating effect of regulation difference in the relationship between technical resources and entry mode choice is more significant than marketing resources， while that of cultural distance on the relationship between marketing resources and entry mode choice is more obvious than technical resources. Namely， although firms have more technical resources and marketing resources， large regulation difference and cultural distance will make them tend to choose joint venture. When Chinese firms enter into other host countries which have higher score in term of institutional environment， cultural difference has more significant impact on the relationship between resources and entry mode choice， which explains the different entry modes when Chinese firms face different institutional environments. To sum up， these findings have provided a theoretical basis for understanding the influence of institutional theory on the entry mode choice comprehensively， and also provided practical guidance for the choice of entry mode for Chinese enterprises．
吴晓波 白旭波 常晓然. 中国企业国际市场进入模式选择研究——多重制度环境下的资源视角[J]. 浙江大学学报(人文社会科学版), 2016, 2(6): 30-.
Wu Xiaobo Bai Xubo C hang Xiaoran. The Study of Chinese Enterprises ' International Market Entry Mode Choice: A Resource-based Perspective under Multidimensional Institutional Environment. JOURNAL OF ZHEJIANG UNIVERSITY, 2016, 2(6): 30-.
