This study investigates the outward foreign direct investment (OFDI) of state-owned enterprises (SOEs) through the lens of the mechanism of institutional compatibility. Drawing on institutional ...theory, we argue that institutional compatibility (thus legitimacy) at home and institutional incompatibility (thus lack of legitimacy) abroad reduce SOEs’ OFDI activities. However, we also argue that home-country subnational factors (coercive, normative, and mimetic forces) provide a potentially offsetting effect. Using a sample of publicly listed Chinese firms, we find that coercive and mimetic forces generated from home subnational institutions reduce the negative effect of state ownership on OFDI activity.
This study extends regulatory capture theory to investigate how and to what extent a firm’s political and nonpolitical ties jointly influence corporate regulatory participation. In the context of ...regulatory standards setting, although firms with political ties are better able to promote firm standards into industry regulations, it remains unclear whether the coexistence of firms’ nonpolitical ties (i.e., university ties and interlocked firms in our study) is more or less likely to reduce the effect of political ties. Although corporate leaders with political and nonpolitical ties may provide complementary resources, they may follow different mechanisms to drive firm actions. We, thus, argue that nonpolitical ties likely reduce the effect of political ties on regulatory standards setting. Using a sample of public manufacturing firms in China, we find evidence that supports our predictions. Our study contributes to the regulatory capture literature by redirecting attention to the dynamics of political versus nonpolitical ties.
Although the importance of external and internal knowledge combination for innovation is well recognized, the effectiveness of different patterns of combination requires further investigation. We ...consider spillovers of foreign direct investment (FDI) and external research and development (R&D) as two sources of external knowledge to domestic firms and argue that the effectiveness of incorporating the two external sources of knowledge varies conditional upon different levels of internal knowledge development (internal R&D). We argue that learning through observation and learning through acquisition are important mechanisms making such difference. Using a sample of manufacturing firms in China from 2002 to 2007, we find that rhythmic FDI spillover and external R&D positively affect innovation performance. However, the effect of rhythmic FDI spillover is stronger, whereas the effect of external R&D is weaker for firms with a moderate level of internal R&D than firms with a low or high level of internal R&D.
Abstract
Background
The trend in postoperative care for free flap patients is to deescalate from routine ICU admission into a specialty recovery unit. This study aims to investigate the predictive ...parameters in a routine perioperative clinical assessment that are expected to be directly correlated with prolonged ICU length of stay in at-risk patients who received oral reconstructive surgery for squamous cell carcinoma (OSCC).
Methods
All patients who underwent ablative surgery for OSCC with free flap reconstruction and were managed in the ICU were included in this study. The primary outcome was ICU-length of stay. Perioperative, operative and postoperative parameters were analyzed using single test (
t
-test, ANOVA analysis, correlation coefficients, effect size) and multivariate regression test. The
P
-value was set as < 0.005 to be considered statically significant.
Results
The study included 136 homogeneous patients, with a mean ICU length of stay of 4.5 (± 4.43 day). Patients with pre-operative positive renal dysfunction (P = 0.004), peripheral vascular disease (P < 0.001), postoperative complications (P = 0.028) or positive heart failure class III (P < 0.001 ) were recognized as at-risk patients for a significantly longer ICU length of stay.
Conclusion
Patients with perioperative severe renal dysfunction, peripheral vascular disease, postoperative complication or high NYHA class are prone to have a significantly longer ICU length of stay. Several factors were considered as confounders contributing to increased ICU management time in combination with other variables. Additionally, in highly risk patient, the presence of the highly trained medical support, including the appropriate nursing care, is more critical than those patients without these risk factors.
Research summary: Cross-border acquisitions may raise legitimacy concerns by host-country stakeholders, affecting the acquisition outcomes of foreign firms. We propose that theorization by local ...regulatory agencies is a key mechanism that links legitimacy concerns with acquisition outcomes. Given that theorization is time consuming and its outcome is uncertain, we argue that state-owned foreign firms experience a lower likelihood of acquisition completion and a longer duration for completing a deal than other foreign firms. Moreover, we introduce a set of firm characteristics (target public status, target R&D alliances, and acquirer acquisition and alliance experiences) that may affect the threshold level of legitimacy, thereby altering the proposed relationships. Our framework and findings provide useful implications for institutional theory on its core concept of legitimacy. Managerial summary: Cross-border acquisitions by state-owned foreign firms may lead to national security concerns and thus debates and discussions among local regulatory agencies. We argue that such institutional processes may reduce the likelihood of acquisition completion and prolong the duration of acquisition completion. Using cross-border acquisitions in the United States, we find that acquisitions by state-owned foreign firms are not less likely to be completed than acquisitions by other foreign firms, but they take more time to be completed. Moreover, state-owned foreign firms are less likely to complete an acquisition when the target firm has more R&D alliances. However, their acquisition experience and alliance experience in the host country increase the likelihood of acquisition completion, whereas their alliance experience alone shortens the acquisition duration.
This study extends prior research on corporate political behaviour (CPB) and firms’ pursuit of political legitimacy in response to monolithic government pressures by developing and testing a ...framework for analysis of CPB in response to polylithic pressures. We suggest that traditional forms of CPB may be ill‐suited to polylithic governmental pressures, such as when firms need to navigate between conflicting home‐ and host‐country political worldviews and policies. We posit that in such complex political situations, firms will turn to a more subtle form of CPB (i.e., rhetorical commitment versus avoidance) as a hoped‐for solution to their international political legitimacy challenge. Our contingency perspective also highlights how geopolitical factors (i.e., whether governments of home and host countries are clearly aligned versus misaligned) will influence whether firms express their support for a home government’s foreign policy or avoid any such expression of support. We empirically test the predictive power of our framework by analysing how these political factors led Chinese firms to opt for rhetorical commitment versus rhetorical avoidance vis‐à‐vis the Chinese government’s Belt and Road Initiative (BRI). We conclude with a discussion of how our framework for analysis and our supportive findings can inform and extend research on CPB and political legitimacy.
This study aims to extend transaction cost economics (TCE) to explain the effects of the strategies of internal and external R&D on innovation performance under two types of environmental ...uncertainty, namely dynamism and complexity. As a departure from conventional TCE wisdom that internally focused R&D strategy is more efficient under environmental uncertainty, this study proposes that such a strategy can be less efficient under environmental dynamism, which is another important type of uncertainty. The results from a sample of manufacturing firms in China from 2002 to 2007 show that externally focused R&D strategy leads to better innovation performance under environmental dynamism, whereas internally focused R&D strategy results in better innovation performance under environmental complexity.
Résumé
Dans la présente étude, l’économie des coûts de transaction (TCE) est élargie pour rendre compte des effets que les stratégies de R et D interne et externe ont sur la performance de l'innovation dans deux types d'incertitude environnementale, à savoir le dynamisme et la complexité. Selon l’économie des coûts de transaction, la stratégie de R et D interne est plus efficace en cas d'incertitude environnementale. Mais la présente étude montre que cette stratégie peut être moins efficace en cas de dynamisme environnemental, qui est un autre type important d'incertitude. Les résultats obtenus à partir d'un échantillon d'entreprises manufacturières implantées en Chine entre 2002 et 2007 montrent que la stratégie de R et D axée sur l'extérieur entraîne une meilleure performance en matière d'innovation lorsque l'environnement est dynamique, tandis que la stratégie de R et D axée sur l'intérieur entraîne une meilleure performance en matière d'innovation lorsque l'environnement est complexe.
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