Natural disasters and MNE internalization: Reoptimizing subsidiary governance
Journal of World Business(2023)
摘要
Natural disasters pose significant threats to MNEs and their subsidiaries. We evaluate the impact and temporal significance of unsystematic disasters on MNE governance decisions. Focusing on JVs and drawing upon new internalization theory, we assess the significance of parent-subsidiary characteristics and experience after a disaster. Our dataset encompasses 7,938 disaster events across 132 countries affecting 5,375 Japanese MNEs and 20,053 subsidiaries over 26 years. We demonstrate the negative impact of disasters on JV survival and observe acquisition (exit) following a disaster based on higher (lower) levels of asset specificity, relative importance, and country and disaster specific experience.
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关键词
Natural disasters,MNEs,New internalization theory,Subsidiary stability,Joint Ventures
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