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Emerging Market Multinationals and Europe

E-BookPDF1 - PDF WatermarkE-Book
279 Seiten
Englisch
Springer International Publishingerschienen am15.11.20191st ed. 2019
Recently, there have been public concerns about the impact of emerging market multinationals. The expansion of China's multinationals to Europe and the Belt and Road Initiative is a prominent example that has kindled hope but also started to increase awareness of the long-term implications. Based on a systematic analysis of internationalization theories, the role of foreign direct investment and multinational companies combined with in-depth empirical research using case studies in Turkey, Russia, Latin America, Asia and Europe, this timely edited volume addresses opportunities and concerns related to this new trend. It also provides new insights that are highly relevant for scholars, policy makers, regional business agencies and students, as well as the public at large. By focusing on the (potential) impact of the expansion of emerging market multinationals on Europe and by including a long-term perspective, the book offers a fresh perspective on a highly controversial issue.




Andreas Breinbauer is Head of the FH Supervisory Council and director of the bachelor and master degree programmes 'Logistics and Transport Management' at the University of Applied Sciences BFI Vienna, as well as member of the Austrian Association of the Austrian UAS (FHK), where he also heads the new committee 'Teaching'. His research interests are: logistics, supply chain management, transport, infrastructure, investment conditions and location research (inter alia Belt and Road Initiative), mobility of highly qualified people (especially in Central and Eastern Europe / Black Sea Region, Asia) as well as university didactics and other questions of universities of applied sciences (UAS). He is a reviewer for numerous international and national scientific journals and jury member for various research funding agencies.



Louis Brennan is a Fellow of Trinity College and Professor in Business Studies at the Trinity Business School. His research interest relate to Global Business Systems encompassing Global Operations and Supply Chain Management, Technology Management, International Business and the Business of Space. He has over 200 refereed publications in those areas including some 50 in ABS ranked journals and six books published by leading international publishers. In addition to publishing in his core areas of expertise, Louis has published in the fields of Economics, Geography, International Relations, Law and Political Science. He has led a number of high level global initiatives including those related to the SKA project, Emerging Multinationals and the development of a global accreditation standard for programmes in Purchasing and Supply Management. Louis is a frequent contributor to the global discourse offering perspectives on many facets of globalisation including the emergence of China and its firms, global corporations, global value chains and foreign direct investment.









Johannes Jäger is Professor and Economics coordinator at the University of Applied Sciences BFI Vienna. His research interests focus on critical international political economy, global finance, regional development, European integration and Latin America. He edited one of his latest books together with Elisabeth Springler on 'Asymmetric Crisis in Europe and Possible Futures' (Routledge 2015).








Andreas G.M. Nachbagauer is Professor, Business Administration & Management Coordinator and Deputy Head of Studies (Project Management Degree Programmes) at the University of Applied Sciences BFI Vienna. His teaching and research interests are related to strategic management, organization studies, HRM and work and society in transition. Before joining the UAS BFI Vienna he was Assistant Professor at the Institute of Personnel Management, Vienna University of Economics and Business, and worked as independent social researcher. His publications include 'Human Resource Management in Projektorientierten Organisationen' (coedited with Iris Schirl, Linde 2013) and 'Globale Projekte managen - Neue Wege für die weltweite Projektarbeit' (coedited with Gerhard Ortner, Symposion Publishing, 2015).





Andreas Nölke is Professor of International Relations and International Political Economy at Goethe University, Frankfurt, Germany. His research interest relate to the Euro crisis and political economy of European integration, Politics of financialization, Accounting standards and transnational private self-regulation, Capitalism in large emerging markets, Multinational companies from the Global South, Theories of comparative capitalism research, Deep integration in the North-South trade relations. His numerous publications include 'Multinational Corporations from Emerging Markets. State Capitalism 3.0' (Palgrave 2014) and 'Handbook of the International Political Economy of the Corporation' (Edward Elgar 2018).mehr
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KlappentextRecently, there have been public concerns about the impact of emerging market multinationals. The expansion of China's multinationals to Europe and the Belt and Road Initiative is a prominent example that has kindled hope but also started to increase awareness of the long-term implications. Based on a systematic analysis of internationalization theories, the role of foreign direct investment and multinational companies combined with in-depth empirical research using case studies in Turkey, Russia, Latin America, Asia and Europe, this timely edited volume addresses opportunities and concerns related to this new trend. It also provides new insights that are highly relevant for scholars, policy makers, regional business agencies and students, as well as the public at large. By focusing on the (potential) impact of the expansion of emerging market multinationals on Europe and by including a long-term perspective, the book offers a fresh perspective on a highly controversial issue.




Andreas Breinbauer is Head of the FH Supervisory Council and director of the bachelor and master degree programmes 'Logistics and Transport Management' at the University of Applied Sciences BFI Vienna, as well as member of the Austrian Association of the Austrian UAS (FHK), where he also heads the new committee 'Teaching'. His research interests are: logistics, supply chain management, transport, infrastructure, investment conditions and location research (inter alia Belt and Road Initiative), mobility of highly qualified people (especially in Central and Eastern Europe / Black Sea Region, Asia) as well as university didactics and other questions of universities of applied sciences (UAS). He is a reviewer for numerous international and national scientific journals and jury member for various research funding agencies.



Louis Brennan is a Fellow of Trinity College and Professor in Business Studies at the Trinity Business School. His research interest relate to Global Business Systems encompassing Global Operations and Supply Chain Management, Technology Management, International Business and the Business of Space. He has over 200 refereed publications in those areas including some 50 in ABS ranked journals and six books published by leading international publishers. In addition to publishing in his core areas of expertise, Louis has published in the fields of Economics, Geography, International Relations, Law and Political Science. He has led a number of high level global initiatives including those related to the SKA project, Emerging Multinationals and the development of a global accreditation standard for programmes in Purchasing and Supply Management. Louis is a frequent contributor to the global discourse offering perspectives on many facets of globalisation including the emergence of China and its firms, global corporations, global value chains and foreign direct investment.









Johannes Jäger is Professor and Economics coordinator at the University of Applied Sciences BFI Vienna. His research interests focus on critical international political economy, global finance, regional development, European integration and Latin America. He edited one of his latest books together with Elisabeth Springler on 'Asymmetric Crisis in Europe and Possible Futures' (Routledge 2015).








Andreas G.M. Nachbagauer is Professor, Business Administration & Management Coordinator and Deputy Head of Studies (Project Management Degree Programmes) at the University of Applied Sciences BFI Vienna. His teaching and research interests are related to strategic management, organization studies, HRM and work and society in transition. Before joining the UAS BFI Vienna he was Assistant Professor at the Institute of Personnel Management, Vienna University of Economics and Business, and worked as independent social researcher. His publications include 'Human Resource Management in Projektorientierten Organisationen' (coedited with Iris Schirl, Linde 2013) and 'Globale Projekte managen - Neue Wege für die weltweite Projektarbeit' (coedited with Gerhard Ortner, Symposion Publishing, 2015).





Andreas Nölke is Professor of International Relations and International Political Economy at Goethe University, Frankfurt, Germany. His research interest relate to the Euro crisis and political economy of European integration, Politics of financialization, Accounting standards and transnational private self-regulation, Capitalism in large emerging markets, Multinational companies from the Global South, Theories of comparative capitalism research, Deep integration in the North-South trade relations. His numerous publications include 'Multinational Corporations from Emerging Markets. State Capitalism 3.0' (Palgrave 2014) and 'Handbook of the International Political Economy of the Corporation' (Edward Elgar 2018).
Details
Weitere ISBN/GTIN9783030312916
ProduktartE-Book
EinbandartE-Book
FormatPDF
Format Hinweis1 - PDF Watermark
FormatE107
Erscheinungsjahr2019
Erscheinungsdatum15.11.2019
Auflage1st ed. 2019
Seiten279 Seiten
SpracheEnglisch
IllustrationenX, 279 p. 24 illus., 12 illus. in color.
Artikel-Nr.4968068
Rubriken
Genre9200

Inhalt/Kritik

Inhaltsverzeichnis
1;Preface;5
2;Contents;7
3;Contributors;9
4;Introduction and Overview;11
4.1;1 A New Obscurity: Shifts in the Economic World Order;11
4.1.1;1.1 Changing Global Context;11
4.1.2;1.2 Towards a Multilevel View;13
4.1.3;1.3 Challenging International Business;15
4.1.4;1.4 Introducing Sustainability;16
4.2;2 Challenges and Strategies of Emerging Market Multinationals in Europe: Key Ideas and Findings;18
4.2.1;2.1 Empirical Overview and Theoretical Perspectives;18
4.2.2;2.2 Politics and Power in Emerging Market Multinationals;19
4.2.3;2.3 Sustainability and Emerging Market Multinationals;21
4.2.4;2.4 Changing Global Labor Conditions;23
4.2.5;2.5 Regional Expansion Strategies in Europe;24
4.3;References;26
5;Part I: Empirical Overview and Theoretical Perspectives;29
5.1;Globalisation After the Financial Crisis: Structural Change and Emerging Market Multinationals;30
5.1.1;1 Introduction;30
5.1.2;2 Patterns and Consequences of Globalisation;31
5.1.3;3 A Crisis of Globalisation?;36
5.1.4;4 Emerging Market Multinationals in the New Global Economy;38
5.1.5;5 Conclusions;42
5.1.6;References;43
5.2;Why Are Emerging Market Multinationals Different? Challenges of a New Version of State Capitalism;46
5.2.1;1 Introduction;46
5.2.2;2 State Support Measures for Large Companies in Emerging Markets;47
5.2.2.1;2.1 Corporate Finance: State Subsidies;48
5.2.2.2;2.2 Corporate Governance: State Ownership and State Control;49
5.2.2.3;2.3 Industrial Relations: Tolerance of a Selective Implementation of Protection Rights;49
5.2.2.4;2.4 Education and Training: Provision of a Large Volume of Highly Qualified Labor;50
5.2.2.5;2.5 Innovation Transfer: Selective Protection of Intellectual Property Rights and Support of National Champions;50
5.2.2.6;2.6 Interim Conclusion;51
5.2.3;3 State Support of Multinational Corporations in International Politics;52
5.2.3.1;3.1 Support of Outward Foreign Direct Investment;52
5.2.3.2;3.2 State Support for Access to Natural Resources in Other Countries;52
5.2.3.3;3.3 Negotiation of Bilateral and Regional Trade and Investment Agreements;53
5.2.3.4;3.4 Representation of the Preferences of Domestic Multinationals in International Institutions;53
5.2.3.5;3.5 Support Thorough Selective Implementation of Global Norms;54
5.2.4;4 Conclusion and Implications;55
5.2.5;References;55
5.3;Emerging Market Multinationals and European Economic Developments;58
5.3.1;1 Introduction;58
5.3.2;2 Historically Changing Global FDI Patterns and Europe;58
5.3.3;3 Theoretical Perspectives on FDI;61
5.3.3.1;3.1 Neoclassical Mainstream Perspectives;61
5.3.3.2;3.2 Alternative Views;63
5.3.3.2.1;3.2.1 Critical Political Economy Perspectives;64
5.3.3.2.2;3.2.2 Post-Keynesian Perspectives;65
5.3.4;4 Conclusions;67
5.3.5;References;68
6;Part II: Politics and Power in Emerging Market Multinationals;70
6.1;Structures and Decisions in Emerging Market Multinational Corporations;71
6.1.1;1 Introduction;71
6.1.2;2 Regional Headquarters;73
6.1.3;3 Regions Matter;74
6.1.4;4 Power and Micro-politics;76
6.1.4.1;4.1 Strategy Games;77
6.1.4.2;4.2 Transmission Games;79
6.1.4.3;4.3 Operation Games;80
6.1.5;5 Establishing Regional Headquarters: Two Case Studies;82
6.1.5.1;5.1 Internal Growth;83
6.1.5.2;5.2 Mergers and Acquisitions;84
6.1.6;6 Conclusion;86
6.1.7;References;86
6.2;How Regional Are Regional Headquarters? The ``Latinization´´ of Control in European Structures of a Brazilian MNC;90
6.2.1;1 Introduction;90
6.2.2;2 The Role of Regional Headquarters in MNCs;91
6.2.3;3 Micro-political Perspective on Autonomy and Control in MNCs;92
6.2.4;4 Research Design and Methodology;95
6.2.4.1;4.1 Data Collection;96
6.2.5;5 BrazilCo´s Global HR Policies;97
6.2.5.1;5.1 BrazilCo in Switzerland;98
6.2.5.2;5.2 Structures of Control: The Swiss Subsidiary´s Relationship with the Brazilian HQ;99
6.2.5.3;5.3 The Position of Swiss Managers in BrazilCo;101
6.2.6;6 Discussion;103
6.2.7;References;106
6.3;Emerging Market Multinationals and Their Cross-Border Acquisitions: Global and Regional Challenges;109
6.3.1;1 Introduction;109
6.3.2;2 Methodology;110
6.3.3;3 Theoretical Perspectives;110
6.3.4;4 Incorporation of Signaling Theory;112
6.3.5;5 Signaling Matrix on EMNCs´ Acquisitions in AMs;113
6.3.5.1;5.1 Quadrant 1;114
6.3.5.1.1;5.1.1 Financial Resources and RandD Investments;114
6.3.5.1.2;5.1.2 Firm-Level Domestic and Affiliation Experience;114
6.3.5.2;5.2 Quadrant 2;115
6.3.5.2.1;5.2.1 Firm-Level International Experience;115
6.3.5.2.1.1;5.2.1.1 Affiliation;115
6.3.5.2.1.2;5.2.1.2 Firm Size;116
6.3.5.2.2;5.2.2 Corporate Governance;116
6.3.5.2.2.1;5.2.2.1 Large and Institutional Investors;116
6.3.5.2.2.2;5.2.2.2 Cross-Listing;117
6.3.5.3;5.3 Quadrant 3;117
6.3.5.3.1;5.3.1 Management;117
6.3.5.3.2;5.3.2 AM Acquisition Experience;118
6.3.5.3.2.1;5.3.2.1 Industry Relatedness;118
6.3.5.3.2.2;5.3.2.2 Deal Advisors;118
6.3.5.3.2.3;5.3.2.3 Past Acquisition Performance;118
6.3.5.3.3;5.3.3 Deal-Level Factors;119
6.3.5.3.3.1;5.3.3.1 Ownership Participation;119
6.3.5.3.3.2;5.3.3.2 Mode of Payment;119
6.3.5.3.3.3;5.3.3.3 Announcement Returns;120
6.3.5.3.3.4;5.3.3.4 Large and Public Firms;120
6.3.5.4;5.4 Quadrant 4;120
6.3.5.4.1;5.4.1 Staged Acquisitions;120
6.3.5.4.2;5.4.2 Integration Managers;121
6.3.5.4.3;5.4.3 Integration Items;121
6.3.6;6 Discussion and Conclusion;121
6.3.7;References;122
7;Part III: Sustainability and Emerging Market Multinationals;129
7.1;Defining Sustainability Criteria for Emerging Market Multinationals;130
7.1.1;1 Introduction;130
7.1.2;2 Defining Sustainability;131
7.1.2.1;2.1 Principle-Based Standards;132
7.1.2.2;2.2 Certificate-Based Standards;133
7.1.2.3;2.3 Reporting-Based Standards;133
7.1.2.4;2.4 Sustainability Indices;134
7.1.2.5;2.5 Concepts and Cultural Context;135
7.1.3;3 Global Responsibility;136
7.1.4;4 Sustainability and Location Policy;138
7.1.5;5 Conclusions and Recommendations;140
7.1.5.1;5.1 Early Evidence: The Company´s (Prior) Policy;140
7.1.5.2;5.2 Stay Attractive with Always-New Special Offers;141
7.1.5.3;5.3 Raise Sunk Cost: Investments, Trust, and Image;142
7.1.6;References;143
7.2;Sustainable Location Development: How Do Investment Promotion Agencies Go About Attracting Sustainable Foreign Direct Investme...;148
7.2.1;1 Sustainable Location Development in a Dynamic, Globalized Business Environment;148
7.2.2;2 Characteristics and Role of IPAs;152
7.2.3;3 The Sustainable Development Goals (SDGs) as a Selection Criterion for Sustainable Location Development;153
7.2.4;4 Top Performers in Achievement of the SDGs;155
7.2.5;5 Types of Investment and Their Impact on Sustainability;156
7.2.6;6 Investment Promotion Agencies and Sustainable Investment;158
7.2.7;7 Best Practice by IPAs in Relation to Sustainability;159
7.2.8;References;162
7.3;Sustainable Development Goals as a Guideline for Multinational Corporations;164
7.3.1;1 A New Goal-Oriented Approach to Sustainability Management;164
7.3.1.1;1.1 The Global Goals Are on the Agenda;164
7.3.1.2;1.2 Sustainability Management Evolved into Impact Management;165
7.3.1.3;1.3 Materiality as Core Criterion;167
7.3.2;2 Studies on the Use of SDGs by Multinationals;169
7.3.2.1;2.1 SDGs Among N100 and G250 Companies;169
7.3.2.2;2.2 SDGs in BRICS Countries;170
7.3.2.3;2.3 SDGs in Europe and North America;171
7.3.3;3 SDG Contributions of Global 100;172
7.3.3.1;3.1 Reports by Region;173
7.3.3.2;3.2 Quality of the Reports;173
7.3.3.3;3.3 Region-Specific Handling of the SDGs;174
7.3.3.3.1;3.3.1 USA;174
7.3.3.3.2;3.3.2 Europe;176
7.3.3.3.3;3.3.3 Asia;176
7.3.3.4;3.4 Summary: SDGs in Global 100;178
7.3.4;4 Conclusion;179
7.3.5;References;179
8;Part IV: Changing Global Labor Conditions;182
8.1;Impact of Chinese Multinationals on Global Labor Conditions and European Strategies;183
8.1.1;1 Introduction;183
8.1.2;2 Stylized Facts About Chinese OFDI in Europe;184
8.1.3;3 Economic Development Strategies and the Structure of Chinese Multinationals;185
8.1.4;4 Experiences with Chinese OFDI;189
8.1.5;5 Features of Regulation of OFDI in Europe;191
8.1.6;6 Summary and Outlook;194
8.1.7;References;195
8.2;Chinese Investments in Germany: Curse or Blessing?;198
8.2.1;1 Introduction and Presentation of the Problem;198
8.2.2;2 Chinese Investment in Germany and Europe Continues to Increase!;199
8.2.3;3 Is There Such a Thing as a `Chinese Investor´?;200
8.2.4;4 Operating on a Level Playing Field?;202
8.2.5;5 Politically Motivated Acquisitions?;203
8.2.6;6 A Focus on German Companies: Why?;204
8.2.7;7 On the Up or Selling Off? Chinese Investments from the Standpoint of Works Councils;205
8.2.8;8 Proactive Codetermination: Guidelines for Works Councils;206
8.2.9;9 Summary: Assessing Risks, Recognizing Opportunities;209
8.2.10;References;211
9;Part V: Regional Expansion Strategies in Europe;213
9.1;The Chinese Belt and Road Initiative and Its Implications for Europe;214
9.1.1;1 Introduction;214
9.1.2;2 The Belt and Road Initiative: Motives;216
9.1.3;3 The BRI in the Context of Other Chinese Strategies and Plans;218
9.1.4;4 The Dimensions of the BRI;219
9.1.5;5 Chinese Infrastructure Activities and Investments;223
9.1.6;6 The Role of the Chinese (State-Owned) Enterprises;225
9.1.7;7 Financing the BRI;226
9.1.8;8 Reciprocity of Investments;229
9.1.9;9 Europe´s Answer to the BRI;229
9.1.10;10 Conclusion;231
9.1.11;References;232
9.2;Multinationals from Latin America: An Analysis of Their Strategies of Expanding into Europe;237
9.2.1;1 Introduction;237
9.2.2;2 Theoretical Perspective and Empirical Overview;238
9.2.3;3 Country Case Studies;241
9.2.3.1;3.1 Brazil;241
9.2.3.2;3.2 Mexico;245
9.2.3.3;3.3 Chile;247
9.2.4;4 Conclusions;250
9.2.5;Appendix: List of Interviews;251
9.2.6;References;252
9.3;Multinationals from Russia and Turkey;254
9.3.1;1 Foreign Direct Investment (FDI) from Emerging Markets in Austria;254
9.3.2;2 Methodological Approach;256
9.3.3;3 Turkish Direct Investment in Austria;257
9.3.3.1;3.1 Turkish Companies´ Internationalization Strategies and Activities;258
9.3.3.2;3.2 Austria as a Business Location from the Perspective of Turkish Companies;261
9.3.4;4 Russian Direct Investment in Austria;261
9.3.4.1;4.1 Drivers of and Motives Behind Russian OFDI;265
9.3.4.2;4.2 Austria as a Business Location from the Perspective of Russian Companies;267
9.3.5;5 Russian and Turkish Direct Investment in Austria: Conclusions;267
9.3.6;References;271
10;Part VI: Conclusion;273
10.1;``Smart Public Location Policy´´: A Policy Statement Regarding Emerging Market Multinationals in Europe;274
10.1.1;1 Conclusions;274mehr

Autor

Andreas Breinbauer is Head of the FH Supervisory Council and director of the bachelor and master degree programmes 'Logistics and Transport Management' at the University of Applied Sciences BFI Vienna, as well as member of the Austrian Association of the Austrian UAS (FHK), where he also heads the new committee 'Teaching'. His research interests are: logistics, supply chain management, transport, infrastructure, investment conditions and location research (inter alia Belt and Road Initiative), mobility of highly qualified people (especially in Central and Eastern Europe / Black Sea Region, Asia) as well as university didactics and other questions of universities of applied sciences (UAS). He is a reviewer for numerous international and national scientific journals and jury member for various research funding agencies.

Louis Brennan is a Fellow of Trinity College and Professor in Business Studies at the Trinity Business School. His research interest relate to Global Business Systems encompassing Global Operations and Supply Chain Management, Technology Management, International Business and the Business of Space. He has over 200 refereed publications in those areas including some 50 in ABS ranked journals and six books published by leading international publishers. In addition to publishing in his core areas of expertise, Louis has published in the fields of Economics, Geography, International Relations, Law and Political Science. He has led a number of high level global initiatives including those related to the SKA project, Emerging Multinationals and the development of a global accreditation standard for programmes in Purchasing and Supply Management. Louis is a frequent contributor to the global discourse offering perspectives on many facets of globalisation including the emergence of China and its firms, global corporations, global value chains and foreign direct investment.







Johannes Jäger is Professor and Economics coordinator at the University of Applied Sciences BFI Vienna. His research interests focus on critical international political economy, global finance, regional development, European integration and Latin America. He edited one of his latest books together with Elisabeth Springler on 'Asymmetric Crisis in Europe and Possible Futures' (Routledge 2015).





Andreas G.M. Nachbagauer is Professor, Business Administration & Management Coordinator and Deputy Head of Studies (Project Management Degree Programmes) at the University of Applied Sciences BFI Vienna. His teaching and research interests are related to strategic management, organization studies, HRM and work and society in transition. Before joining the UAS BFI Vienna he was Assistant Professor at the Institute of Personnel Management, Vienna University of Economics and Business, and worked as independent social researcher. His publications include 'Human Resource Management in Projektorientierten Organisationen' (coedited with Iris Schirl, Linde 2013) and 'Globale Projekte managen - Neue Wege für die weltweite Projektarbeit' (coedited with Gerhard Ortner, Symposion Publishing, 2015).



Andreas Nölke is Professor of International Relations and International Political Economy at Goethe University, Frankfurt, Germany. His research interest relate to the Euro crisis and political economy of European integration, Politics of financialization, Accounting standards and transnational private self-regulation, Capitalism in large emerging markets, Multinational companies from the Global South, Theories of comparative capitalism research, Deep integration in the North-South trade relations. His numerous publications include 'Multinational Corporations from Emerging Markets. State Capitalism 3.0' (Palgrave 2014) and 'Handbook of the International Political Economy of the Corporation' (Edward Elgar 2018).