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1、InternationalizationTrajectoriesofMultinationalEnterprises:1990-2004FabienneFortanierandRobvanTulderApril20071IntroductionResearchonthehowandwhyofinternationalizationMacrolevel:determinantsofFDIMicrolevel:determinantsofmodeofentryFirmlevel:determinants&performanceeffec
2、tsofDOIProblemsinexistingresearchMoststudiesfocusedon‘one-off’investmentdecisionsCorporatelevelstudieshavefocusedon(static)performanceeffectsVerylittlelongitudinalresearchHence,itremainsremarkablyunclearhow,atthecorporatelevel,firmsexpand(andwithdraw),theirinternationa
3、lactivities,overtime.April20072Internationalization:alongitudinalanalysisLongitudinalresearchmayprovideinsightsthatcross-sectionresearchmaynot(Jones/Khanna,2005):Internationalizationprocessiscomplexandnon-linearDe-internationalization(Benito/Welch,1997)Clustering(Maitl
4、andetal.,2005)Paceandrhythm(Vermeulen/Barkema,2002)InternationalizationprocessmayaffectperformanceInternationalizationbyMNEsisakeydriverofglobalization,whichisyetapoorlyunderstoodphenomenon(Rugman/Verbeke,2004)Keychallenge:measurementanddataApril20073Internationalizati
5、on:definitionandmeasurementMostoftenused:DegreeofInternationalization(DOI)Apparentlysimple,butquitecomplexmeasure,especiallyinlongitudinalanalysesSales(FSTS)Salesbyoriginordestination;Saleseliminationsandintra-firmsalesAssets(FATA)Typeofassetsspecified;Assetsnon-geogra
6、phicallyspecifiedEmployment(FETE)FTEorpersons;averageoryear-endAllthreemeasuresMergers&Acquisitions;HomeregionversushomecountryApril20074SampleTop300largestnon-financialfirmsworld-wideandTop50largestnon-financialfirmsforUK,DE,FRandNL(1995)Annualreportdata444entities,fo
7、llowedfrom1990to2004For233outofthese444,datawasavailableforaperiodofatleast10yearsforatleastoneofthethreevariablesNT(max)=3495FSTS:3252(93%,n=231)FATA:2023(58%,n=148)FETE:1593(46%,n=114)April20075MeasuringInternationalization:salesSalesbydestinationvs.salesbyoriginwith
8、intime-seriesCorrectbythedifferencebetweenthemeansofthefourobservationsbeforeandafterthemethodchange28outof231timeser
