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Three papers on institution, corporate governance and international expansion of Chinese firms.

机译：关于机构，公司治理和中国公司国际扩张的三篇论文。

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摘要

The three papers in this dissertation investigate how institutional environment and firm characteristics influence Chinese firms' performance in the domestic market as well as in their international expansion process. I propose that institutional environment and firm specific characteristics influence Chinese firms' choices about corporate strategies, which lead to different outcome of performance including differences in foreign market entry attempts (chapter 1), foreign market expansion strategies and performance (chapter 2) and differences in the contribution of human capital to firms' financial performance (chapter 3). In Chapter 1, I utilize the concept of institutional distance to capture the gap between home and host country institutional settings and disaggregate institutional distance into political distance, economic distance and cultural distance. I empirically test the influence of these three institutional distances on the outcome of Chinese firms' foreign market entry attempt. The results show that political institution is negatively associated with the likelihood of Chinese firms successfully entering a foreign market and the effect is contingent on firm specific characteristics. In chapter 2, I focus on the quality of domestic institutional environment by measuring the unequal development among different dimensions of institutional environment. I use a step-wise approach to test how such inconsistency of development influence the propensity of Chinese small and medium sized firms (SMEs) to go abroad in their initial internationalization decision-making phase and their financial performance when they are seeking for international expansion. The results indicate SMEs are more likely to go to international market when their perception of the institutional quality is low but this low domestic institutional quality would hurt their firms' performance when they are seeking for international growth. Finally, in Chapter 3, I demonstrate the conditions under which firms could benefit from human capital. I find that the effect of human capital on firm performance is contingent upon the firm's position in the interlocking directorate network. Human capital is associated with superior performance only when network centrality is high. Together, this dissertation shows how institutional environment that facing Chinese firms influence firms' decisions on strategies, and thus how it influence firm performance in different situations.
机译：本文的三篇论文探讨了制度环境和公司特征如何影响中国公司在国内市场以及国际扩张过程中的表现。我认为制度环境和公司特征会影响中国公司对公司战略的选择，从而导致业绩的不同，包括国外市场进入尝试的差异（第1章），国外市场扩张策略和业绩（第2章）以及中国市场差异。人力资本对企业财务绩效的贡献（第3章）。在第一章中，我利用制度距离的概念来捕捉母国和东道国制度环境之间的差距，并将制度距离分解为政治距离，经济距离和文化距离。我经验地检验了这三个制度距离对中国公司进入国外市场尝试的结果的影响。结果表明，政治制度与中国公司成功进入国外市场的可能性负相关，其影响取决于公司的特定特征。在第二章中，我通过衡量制度环境不同维度之间的不平等发展来关注国内制度环境的质量。我使用一种逐步的方法来测试这种不一致的发展如何影响中国中小企业在初始国际化决策阶段出国的倾向以及它们寻求国际扩张时的财务表现。结果表明，当中小企业对机构质量的看法较低时，他们更有可能进入国际市场，但是这种低水平的国内机构质量将损害他们在寻求国际增长时的企业绩效。最后，在第三章中，我演示了公司可以从人力资本中受益的条件。我发现人力资本对公司绩效的影响取决于公司在相互联系的董事会网络中的地位。只有在网络集中度高的情况下，人力资本才能获得卓越的绩效。总之，本论文说明了中国公司面临的制度环境如何影响公司的战略决策，以及如何在不同情况下影响公司绩效。

著录项

  • 作者

    Zhang, Shuo.;

  • 作者单位

    Cornell University.;

  • 授予单位 Cornell University.;
  • 学科 Sociology.;Management.
  • 学位 Ph.D.
  • 年度 2016
  • 页码 136 p.
  • 总页数 136
  • 原文格式 PDF
  • 正文语种 eng
  • 中图分类
  • 关键词

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