Financial Performance of Multinational Enterprises
Desempeño financiero de empresas multinacionales A Historical Review and Future Research Trends
Barra lateral del artículo
pdf completo
FLIP
Esta obra está bajo una licencia internacional Creative Commons Atribución-NoComercial-SinDerivadas 4.0.
El contenido de la revista Escuela de Administración de Negocios está bajo una licencia de Creative Commons Reconocimiento-NoComercial-SinObraDerivada 4.0 Internacional - (CC BY-NC-ND 4.0)
Bajo los siguientes términos:
Atribución — Usted debe dar crédito de manera adecuada, brindar un enlace a la licencia, e indicar si se han realizado cambios. Puede hacerlo en cualquier forma razonable, pero no de forma tal que sugiera que usted o su uso tienen el apoyo de la licenciante.
NoComercial — Usted no puede hacer uso del material con propósitos comerciales.
SinDerivadas — Si remezcla, transforma o crea a partir del material, no podrá distribuir el material modificado.
Contenido principal del artículo
Resumen
The purpose of this research is to conduct a literature review on the evolution of research on the financial performance of multinational enterprises through bibliometric and network analysis to map this area of knowledge and identify emerging research trends. A science mapping analysis was carried out from 687 records retrieved from Web of Science and Scopus and dated field's most relevant documents, authors, journals, institutions, and countries. Moreover, the main contribution of this document is delineating the trends and emerging research topics on the financial performance of MNEs.
Detalles del artículo
Referencias (VER)
Aguilera-Caracuel, J., Guerrero-Villegas, J., & García-Sánchez, E. (2017). Reputation of multinational companies. European Journal of Management and Business Economics, 26(3), 329-346. https://doi.org/10.1108/EJMBE-10-2017-019
Aksnes, D. W., & Sivertsen, G. (2019). A criteria-based assessment of the coverage of scopus and web of science. Journal of Data and Information Science, 4(1), 1-21. https://doi.org/10.2478/jdis-2019-0001
Aria, M., & Cuccurullo, C. (2017). Bibliometrix: An R-tool for comprehensive science mapping analysis. Journal of Informetrics, 11(4), 959-975. https://doi.org/10.1016/j.joi.2017.08.007
Arvidsson, A., & Caliandro, A. (2016). Brand Public. Journal of Consumer Research, 42(5), 727-748. https://doi.org/10.1093/jcr/ucv053
Bar-Ilan, J. (2010). Citations to the “Introduction to informetrics” indexed by WOS, Scopus and Google Scholar. Scientometrics, 82(3), 495-506. https://doi.org/10.1007/s11192-010-0185-9
Barney, J. (1991). Firm Resources and Sustained Competitive Advantage. Journal of Management, 17(1), 99–120. https://doi.org/10.1177/014920639101700108
Bastian, M., Heymann, S., & Jacomy, M. (2009). Gephi : An Open Source Software for Exploring and Manipulating Networks. Gephi.Org. https://gephi.org/publications/gephi-bastian-feb09.pdf
Beugelsdijk, S., & Jindra, B. (2018). Product innovation and decision-making autonomy in subsidiaries of multinational companies. Journal of World Business, 53(4), 529-539. https://doi.org/10.1016/j.jwb.2018.02.007
Campbell, J. T., Eden, L., & Miller, S. R. (2012). Multinationals and corporate social responsibility in host countries: Does distance matter. Journal of International Business Studies, 43(1), 84–106. https://doi.org/10.1057/jibs.2011.45
Ceipek, R., Hautz, J., Mayer, M. C. J., & Matzler, K. (2019). Technological Diversification: A Systematic Review of Antecedents, Outcomes and Moderating Effects. International Journal of Management Reviews, 21(4), 466-497. https://doi.org/10.1111/ijmr.12205
Chacar, A. S., Newburry, W., & Vissa, B. (2010). Bringing institutions into performance persistence research: Exploring the impact of product, financial, and labor market institutions. Journal of International Business Studies, 41(7), 1119–1140. https://doi.org/10.1057/jibs.2010.3
Cheng, M. (2016). Sharing economy: A review and agenda for future research. International Journal of Hospitality Management, 57, 60-70. https://doi.org/10.1016/j.ijhm.2016.06.003
Cordeiro, J. J., Galeazzo, A., Shaw, T. S., Veliyath, R., & Nandakumar, M. K. (2018). Ownership influences on corporate social responsibility in the Indian context. Asia Pacific Journal of Management, 35(4), 1107-1136. https://doi.org/10.1007/s10490-017-9546-8
Cuervo-Cazurra, A., Nieto, M. J., & Rodríguez, A. (2018). The impact of R&D sources on new product development: Sources of funds and the diversity versus control of knowledge debate. Long Range Planning, 51(5), 649-665. https://doi.org/10.1016/j.lrp.2017.06.004
Cui, L., & Xu, Y. (2019). Outward FDI and profitability of emerging economy firms: Diversifying from home resource dependence in early-stage internationalization. Journal of World Business, 54(4), 372-386. https://doi.org/10.1016/j.jwb.2019.04.002
Dabić, M., Maley, J., Dana, L.-P., Novak, I., Pellegrini, M. M., & Caputo, A. (2020). Pathways of SME internationalization: a bibliometric and systematic review. Small Business Economics, 55(3), 705-725. https://doi.org/10.1007/s11187-019-00181-6
Delios, A., & Beamish, P. W. (2001). Survival and profitability: The roles of experience and intangible assets in foreign subsidiary performance. Academy of Management Journal, 44(5), 1028-1038. https://doi.org/10.2307/3069446
Diez-Vial, I., & Montoro-Sanchez, A. (2017). Research evolution in science parks and incubators: foundations and new trends. Scientometrics, 110(3), 1243–1272. https://doi.org/10.1007/s11192-016-2218-5
Ding, Y., & Cronin, B. (2011). Popular and/or prestigious? Measures of scholarly esteem. Information Processing & Management, 47(1), 80–96. https://doi.org/10.1016/j.ipm.2010.01.002
Duque, P., & Cervantes-Cervantes, L.-S. (2019). Responsabilidad Social Universitaria: una revisión sistemática y análisis bibliométrico. Estudios Gerenciales, 35(153), 451-464. https://doi.org/10.18046/j.estger.2019.153.3389
Egan, P. J. W. (2018). Globalizing innovation: State institutions and foreign direct investment in emerging economies. In Globalizing Innovation: State Institutions and Foreign Direct Investment in Emerging Economies.
Fahimnia, B., Sarkis, J., & Davarzani, H. (2015). Green supply chain management: A review and bibliometric analysis. International Journal of Production Economics, 162, 101-114. https://doi.org/10.1016/j.ijpe.2015.01.003
Fallah, M. A., & Heidari, A. (2020). Headquarters’ roles and interventions in subsidiaries: a systematic review. Review of International Business and Strategy, 31(4), 465-481. https://doi.org/10.1108/RIBS-04-2020-0033
Ferreira, M. P., Reis, N. R., & Pinto, C. F. (2020). Two decades of management research on emerging economies: a citation and co-citation review. International Studies of Management & Organization, 50(1), 5–26. https://doi.org/10.1080/00208825.2020.1724470
García-Lillo, F., Claver-Cortés, E., Marco-Lajara, B., & Úbeda-García, M. (2017). Mapping the Intellectual Structure of Research on ‘Born Global’ Firms and INVs: A Citation/Co-citation Analysis. Management International Review, 57(4), 631-652. https://doi.org/10.1007/s11575-016-0308-5
Gardberg, N. A., & Fombrun, C. J. (2006). Corporate Citizenship: Creating Intangible Assets Across Institutional Environments. Academy of Management Review, 31(2), 329–346. https://doi.org/10.5465/amr.2006.20208684
Gurzki, H., & Woisetschläger, D. M. (2017). Mapping the luxury research landscape: A bibliometric citation analysis. Journal of Business Research, 77, 147-166. https://doi.org/10.1016/j.jbusres.2016.11.009
Hirsch, J. E. (2005). An Index to Quantify an Individual’s Scientific Research Output. Proceedings of the National Academy of Sciences, 102, 16569-16572. http://dx.doi.org/10.1073/pnas.0507655102
Hitt, M. A., Hoskisson, R. E., & Kim, H. (1997). International diversification: effects on innovation and firm performance in product-diversified firms. Academy of Management Journal, 40(4), 767-798. https://doi.org/10.2307/256948
Hobdari, B., Gammeltoft, P., Li, J., & Meyer, K. (2017). The home country of the MNE: The case of emerging economy firms. Asia Pacific Journal of Management, 34(1), 1-17. https://doi.org/10.1007/s10490-017-9505-4
Hota, P. K., Subramanian, B., & Narayanamurthy, G. (2020). Mapping the Intellectual Structure of Social Entrepreneurship Research: A Citation/Co-citation Analysis. Journal of Business Ethics, 166(1), 89-114. https://doi.org/10.1007/s10551-019-04129-4
Jacomy, M., Venturini, T., Heymann, S., & Bastian, M. (2014). ForceAtlas2, a Continuous Graph Layout Algorithm for Handy Network Visualization Designed for the Gephi Software. PLoS ONE, 9(6), e98679. https://doi.org/10.1371/journal.pone.0098679
Johanson, J., & Vahlne, J.-E. (1977). The Internationalization Process of the Firm—A Model of Knowledge Development and Increasing Foreign Market Commitments. Journal of International Business Studies, 8(1), 23-32. https://doi.org/10.1057/palgrave.jibs.8490676
Jung, J. C., & Lee, K.-P. (2018). Host Country Sourcing of Multinational Enterprises: A Corporate Social Responsibility Perspective. Journal of Business Ethics, 152(3), 683–701. https://doi.org/10.1007/s10551-016-3333-1
Kamble, S. S., Gunasekaran, A., & Gawankar, S. A. (2018). Sustainable Industry 4.0 framework: A systematic literature review identifying the current trends and future perspectives. Process Safety and Environmental Protection, 117, 408–425. https://doi.org/10.1016/j.psep.2018.05.009
Kawai, N., & Chung, C. (2019). Expatriate utilization, subsidiary knowledge creation and performance: The moderating role of subsidiary strategic context. Journal of World Business, 54(1), 24-36. https://doi.org/10.1016/j.jwb.2018.09.003
Kim, H., Wu, J., Schuler, D. A., & Hoskisson, R. E. (2020). Chinese multinationals’ fast internationalization: Financial performance advantage in one region, disadvantage in another. Journal of International Business Studies, 51(7), 1076-1106. https://doi.org/10.1057/s41267-019-00279-9
Kogut, B., & Singh, H. (1988). The Effect of National Culture on the Choice of Entry Mode. Journal of International Business Studies, 19(3), 411-432. https://doi.org/10.1057/palgrave.jibs.8490394
Kostova, T., & Zaheer, S. (1999a). Organizational Legitimacy Under Conditions of Complexity: The Case of the Multinational Enterprise. Academy of Management Review, 24(1), 64–81. https://doi.org/10.5465/amr.1999.1580441
Kühn, A.-L., Stiglbauer, M., & Fifka, M. S. (2018). Contents and Determinants of Corporate Social Responsibility Website Reporting in Sub-Saharan Africa: A Seven-Country Study. Business & Society, 57(3), 437-480. https://doi.org/10.1177/0007650315614234
Kuntner, T., & Teichert, T. (2016). The scope of price promotion research: An informetric study. Journal of Business Research, 69(8), 2687-2696. https://doi.org/10.1016/j.jbusres.2015.11.004
Lavie, D., & Miller, S. R. (2008). Alliance portfolio internationalization and firm performance. Organization Science, 19(4), 623-646. https://doi.org/10.1287/orsc.1070.0341
Lee, S., & Bozeman, B. (2005). The Impact of Research Collaboration on Scientific Productivity. Social Studies of Science, 35(5), 673-702. https://doi.org/10.1177/0306312705052359
J. W., & Beamish, P. W. (2004). International diversification and firm performance: The S-curve hypothesis. Academy of Management Journal, 47(4), 598–609. https://doi.org/10.2307/20159604
Luo, X., & Zheng, Q. (2018). How firm internationalization is recognized by outsiders: The response of financial analysts. Journal of Business Research, 90, 87–106. https://doi.org/10.1016/j.jbusres.2018.04.030
Luo, X., Slotegraaf, R.J., Pan, X. (2006). Cross-functional “coopetition”: The simulta-neous role of cooperation. Journal of Marketing, 70(2), 67–80. https://doi.org/10.1509/jmkg.70.2.067
Luxmore, S. R., Hull, C. E., & Tang, Z. (2018). Institutional Determinants of Environmental Corporate Social Responsibility: Are Multinational Entities Taking Advantage of Weak Environmental Enforcement in Lower-Income Nations? Business and Society Review, 123(1), 151–179. https://doi.org/10.1111/basr.12138
McWilliams, A., & Siegel, D. (2001). Corporate social responsibility: A theory of the firm perspective. Academy of Management Review, 26(1), 117–127. https://doi.org/10.5465/AMR.2001.4011987
Mellahi, K., Frynas, J. G., Sun, P., & Siegel, D. (2016). A Review of the Nonmarket Strategy Literature: Toward a Multi-Theoretical Integration. Journal of Management, 42(1), 143–173. https://doi.org/10.1177/0149206315617241
Nachum, L. (2003). Liability of foreignness in global competition? Financial service affiliates in the city of london. Strategic Management Journal, 24(12), 1187–1208. https://doi.org/10.1002/smj.347
Nguyen, Q. T. K. (2017). Multinationality and Performance Literature: A Critical Review and Future Research Agenda. Management International Review, 57(3), 311–347. https://doi.org/10.1007/s11575-016-0290-y
Nguyen, Q. T. K., & Almodóvar, P. (2018). Export intensity of foreign subsidiaries of multinational enterprises: The role of trade finance availability. International Business Review, 27(1), 231–245. https://doi.org/10.1016/j.ibusrev.2017.07.004
Nguyen, Q. T. K., & Kim, S. (2020). The multinationality and performance relationship: Revisiting the literature and exploring the implications. International Business Review, 29(2), 101670. https://doi.org/10.1016/j.ibusrev.2020.101670
Orlitzky, M., Schmidt, F. L., & Rynes, S. L. (2003). Corporate Social and Financial Performance: A Meta-Analysis. Organization Studies, 24(3), 403–441. https://doi.org/10.1177/0170840603024003910
Pangboonyanon, V., & Kalasin, K. (2018). The impact of within-industry diversification on firm performance. International Journal of Emerging Markets, 13(6), 1475–1501. https://doi.org/10.1108/IJOEM-05-2017-0174
Pisani, N., Garcia-Bernardo, J., & Heemskerk, E. (2020). Does it pay to be a multinational? A large-sample, cross-national replication assessing the multinationality–performance relationship. Strategic Management Journal, 41(1), 152–172. https://doi.org/10.1002/smj.3087
Puck, J., & Filatotchev, I. (2020). Finance and the multinational company: Building bridges between finance and global strategy research. Global Strategy Journal, 10(4), 655–675. https://doi.org/10.1002/gsj.1330
Purkayastha, S., Kumar, V., & Lu, J. W. (2017). Business group heterogeneity and the internationalization-performance relationship: Evidence from Indian business groups. Asia Pacific Journal of Management, 34(2), 247–279. https://doi.org/10.1007/s10490-016-9489-5
Reimann, F., Ehrgott, M., Kaufmann, L., & Carter, C. R. (2012). Local stakeholders and local legitimacy: MNEs’ social strategies in emerging economies. Journal of International Management, 18(1), 1–17. https://doi.org/10.1016/j.intman.2011.06.002
Robledo, S., Osorio, G., & Lopez, C. (2014). Networking en pequeña empresa: una revisión bibliográfica utilizando la teoria de grafos. Revista Vinculos, 11(2), 6–16. https://doi.org/10.14483/2322939X.9664
Rodriguez, P., Siegel, D. S., Hillman, A., & Eden, L. (2006). Three lenses on the multinational enterprise: Politics, corruption, and corporate social responsibility. Journal of International Business Studies, 37(6), 733–746. https://doi.org/10.1057/palgrave.jibs.8400229
Rozalia, K., & Aurel, B. (2019). Inside the World-Class Multinationals: A Sectoral Frame. Studies in Business and Economics, 14(2), 73–87. https://doi.org/10.2478/sbe-2019-0026
Rygh, A. (2019). Social value creation by multinational enterprises. Critical Perspectives on International Business, 16(1), 47–75. https://doi.org/10.1108/cpoib-07-2017-0040
Sageder, M., & Feldbauer-Durstmüller, B. (2019). Management control in multinational companies: a systematic literature review. Review of Managerial Science, 13(5), 875–918. https://doi.org/10.1007/s11846-018-0276-1
SCImago SJR. (2021). SCImago Journal & Country Rank [Portal].
Small, H. (1973). Co-citation in the scientific literature: A new measure of the relationship between two documents. Journal of the American Society for Information Science, 24(4), 265–269. https://doi.org/10.1002/asi.4630240406
Uhlenbruck, K., Rodriguez, P., Doh, J., & Eden, L. (2006). The impact of corruption on entry strategy: Evidence from telecommunication projects in emerging economies. Organization Science, 17(3), 402–414. https://doi.org/10.1287/orsc.1060.0186
Voinea, C. L., & van Kranenburg, H. (2018). Feeling the Squeeze: Nonmarket Institutional Pressures and Firm Nonmarket Strategies. Management International Review, 58(5), 705–741. https://doi.org/10.1007/s11575-018-0355-1
Waddock, S. A., Bodwell, C., & Graves, S. B. (2002). Responsibility: The new business imperative. Academy of Management Perspectives, 16(2), 132–148. https://doi.org/10.5465/ame.2002.7173581
Waddock, S. A., & Graves, S. B. (1997a). The corporate social performance–financial performance link. Strategic Management Journal, 18(4), 303-319. https://doi.org/10.1002/(SICI)1097-0266(199704)18:4<303::AID-SMJ869>3.3.CO;2-7
White, H. D. (2003). Pathfinder networks and author cocitation analysis: A remapping of paradigmatic information scientists. Journal of the American Society for Information Science and Technology, 54(5), 423-434. https://doi.org/10.1002/asi.10228
Zaheer, S. (1995). Overcoming the liability of foreignness. Academy of Management Journal, 38(2), 341–363. https://doi.org/10.2307/256683
Zhang, J., Jiang, J., & Noorderhaven, N. (2019). Is certification an effective legitimacy strategy for foreign firms in emerging markets? International Business Review, 28(2), 252–267. https://doi.org/10.1016/j.ibusrev.2018.09.003
Zhang, Y., Yang, Z., & Zhang, T. (2018). Strategic resource decisions to enhance the performance of global engineering services. International Business Review, 27(3), 678–700. https://doi.org/10.1016/j.ibusrev.2017.11.004
Zhu, J. (John), Tse, C. H., & Li, X. (2019). Unfolding China’s state-owned corporate empires and mitigating agency hazards: Effects of foreign investments and innovativeness. Journal of World Business, 54(3), 191–212. https://doi.org/10.1016/j.jwb.2019.02.001
Zhu, J., & Liu, W. (2020). A tale of two databases: the use of Web of Science and Scopus in academic papers. Scientometrics, 123(1), 321–335. https://doi.org/10.1007/s11192-020-03387-8
Zupic, I., & Čater, T. (2015). Bibliometric Methods in Management and Organization. Organizational Research Methods, 18(3), 429–472. https://doi.org/10.1177/1094428114562629
Zuschke, N. (2020). An analysis of process-tracing research on consumer decision-making. Journal of Business Research, 111, 305–320. https://doi.org/10.1016/j.jbusres.2019.01.028
Descargas
Citado por
