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Title: British multinationals in South East Asia : strategy, subsidiaries and performance
Author: Nguyen, Quyen T. K.
Awarding Body: University of Reading
Current Institution: University of Reading
Date of Award: 2012
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The main objective of this research is to empirically investigate the relationship between strategy and performance of British multinational (MNE) subsidiaries across six South East Asian countries (Malaysia, Indonesia, the Philippines, Singapore, Thailand and Vietnam) over the five-year period 2003-2007. It aims to contribute to the theoretical and empirical literature of the MNE. It clarifies further the current inconclusive debate on the multinationality (M) and performance (P) relationship literature at parent level by new work at subsidiary level. Key to the contradictory empirical findings on the relationship between multinationality (M) and performance (P) is that most previous studies are largely carried out at parent level. Yet, the parent MNE's performance is the consolidated and aggregated results from a disperse network of foreign subsidiaries. Today's reality is that much competition and international business activities occur at subsidiary level. Therefore, this research addresses the MNE strategy and performance at subsidiary level instead of parent level. The focus of this research lies in the determinants of successful subsidiary performance. Drawing on the economic theories of the MNE, this research develops a conceptual framework and then tests a set of hypotheses. The performance is explained by Buckley and Casson's internalization theory, as popularized by Rugman's country specific advantages (CSAs) and firm specific advantages (FSAs) matrix, Dunning's eclectic paradigm with four FDI motives, the resource based view of the firm, the framework of MNEs as flagship firms, the pecking order theory in finance literature, and international accounting standards. It adopts a subsidiary-level and managerial-approach determining 7 successful subsidiary performance in its research design. Specifically, this research conducts three empirical studies as follows: Subsidiary-level firm specific advantages, governance and subsidiary performance Multinational subsidiaries as flagship firms and the fast moving consumer goods sector: Unilever in South East Asia. 3. Host country location, subsidiary-level firm specific advantages, subsidiary sales strategy and subsidiary performance The main contribution of this research is to provide strong empirical evidence that a subsidiary's performance depends on subsidiary-level FSAs, not the extent of multinatitonality per se. The theoretical contribution is the specific operationalization and utilization of subsidiary-level FSAs. Key words: multinationality (M) and performance (P); MNE subsidiary strategy; subsidiary performance; subsidiary-level firm specific advantages (FSAs); host country- specific advantages (CSAs); FDI motives
Supervisor: Not available Sponsor: Not available
Qualification Name: Thesis (Ph.D.) Qualification Level: Doctoral
EThOS ID:  DOI: Not available