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Re-conceptualising exploitative and explorative FDI: a balancing-process approach to firm internationalisation

机译:重新概念化探索性和探索性外国直接投资:企业国际化的平衡过程方法

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Drawing on the Penrosean theory of the growth of the firm, this paper develops a balancing-process approach to explain the motivations and location choices of Foreign Direct Investment (FDI). In this approach, FDI is viewed as a means to balance a firm's portfolio of resources and capabilities through utilising resources and capabilities available in international markets with the ultimate goal of achieving fast and sustainable growth. Based on the Chinese yin-yang perspective, this approach joins exploitative and explorative FDI as a dynamic unity and explains how exploitation and exploration jointly drive a firm's motivation and location choice of internationalisation. Our balancing-process approach joins historically independent streams of research in a single framework and uncovers a new and more fundamental mechanism that drives FDI: the need to address resource constraints.
机译:借鉴彭罗斯(Penrosean)公司成长理论,本文提出了一种平衡过程方法来解释外国直接投资(FDI)的动机和地区选择。在这种方法中,外国直接投资被视为通过利用国际市场上可用的资源和能力来平衡公司的资源和能力组合的一种手段,其最终目标是实现快速且可持续的增长。基于中国的阴阳视角,这种方法将剥削性和探索性FDI结合为一个动态统一体,并解释了剥削和勘探如何共同推动公司国际化的动机和地区选择。我们的平衡过程方法将历史上独立的研究流整合到一个框架中,并发现了驱动FDI的新的更基本的机制:解决资源约束的需求。

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