In the past, most researchers found investors tend to be overconfident when making investment decisions. This paper, under the assumption that investors have the disposition of overconfidence, tries to examine whether investors will display different degrees of overconfidence when facing different situations. Results have been found investors will have more confidence in processing the information the market has revealed to make investments when facing companies with high firm-specific risks. Therefore, firm-specific risks will influence overconfident investors¡¦ investment decisions. Furthermore, this paper tries to further divide companies under consideration into three groups according to their market share to discuss overconfident investors¡¦ behavior. Finally, this paper uses some quantitative variables to proxy public and private information to test whether investors in Taiwan tend to overreact to private information than to public information. The results have proven that investors¡¦ overreaction to private information in Taiwan comply with other behaviors of investors in other countries.

<p>Business has changed and developed fast and drastically through internationalization, which has drawn many scholars’ attentions. The dissertation will focus on the firm-specific advantages (FSAs) which allow firms to go to the international markets.</p><p>The theoretical framework of this dissertation contains four proxies of the firm’s specific advantages, including entrepreneur, market knowledge, network, and technology. In this dissertation, this framework will guide us to collect and analyze the empirical data.</p><p>The qualitative research strategy is employed in this dissertation. Utilizing the multiple case study, we choose two sample companies, both from Halmstad. The empirical data was gathered through semi-structured personal interviews. Data was also supplemented with secondary data, such as web pages and scientific articles.</p><p>The finding of this dissertation is that market knowledge and experience is a crucial, firm-specific advantage, which facilitates firm’s international expansion. In addition, the entrepreneur and network variables also have an impact on the internationalization process in direct or indirect ways. However, the study does not find obvious evidence that technology does help firms go to the foreign markets a lot.</p>

<p>Business has changed and developed fast and drastically through internationalization, which has drawn many scholars’ attentions. The dissertation will focus on the firm-specific advantages (FSAs) which allow firms to go to the international markets.</p><p>The theoretical framework of this dissertation contains four proxies of the firm’s specific advantages, including entrepreneur, market knowledge, network, and technology. In this dissertation, this framework will guide us to collect and analyze the empirical data.</p><p>The qualitative research strategy is employed in this dissertation. Utilizing the multiple case study, we choose two sample companies, both from Halmstad. The empirical data was gathered through semi-structured personal interviews. Data was also supplemented with secondary data, such as web pages and scientific articles.</p><p>The finding of this dissertation is that market knowledge and experience is a crucial, firm-specific advantage, which facilitates firm’s international expansion. In addition, the entrepreneur and network variables also have an impact on the internationalization process in direct or indirect ways. However, the study does not find obvious evidence that technology does help firms go to the foreign markets a lot.</p>

Business has changed and developed fast and drastically through internationalization, which has drawn many scholars’ attentions. The dissertation will focus on the firm-specific advantages (FSAs) which allow firms to go to the international markets. The theoretical framework of this dissertation contains four proxies of the firm’s specific advantages, including entrepreneur, market knowledge, network, and technology. In this dissertation, this framework will guide us to collect and analyze the empirical data. The qualitative research strategy is employed in this dissertation. Utilizing the multiple case study, we choose two sample companies, both from Halmstad. The empirical data was gathered through semi-structured personal interviews. Data was also supplemented with secondary data, such as web pages and scientific articles. The finding of this dissertation is that market knowledge and experience is a crucial, firm-specific advantage, which facilitates firm’s international expansion. In addition, the entrepreneur and network variables also have an impact on the internationalization process in direct or indirect ways. However, the study does not find obvious evidence that technology does help firms go to the foreign markets a lot.

Business has changed and developed fast and drastically through internationalization, which has drawn many scholars’ attentions. The dissertation will focus on the firm-specific advantages (FSAs) which allow firms to go to the international markets. The theoretical framework of this dissertation contains four proxies of the firm’s specific advantages, including entrepreneur, market knowledge, network, and technology. In this dissertation, this framework will guide us to collect and analyze the empirical data. The qualitative research strategy is employed in this dissertation. Utilizing the multiple case study, we choose two sample companies, both from Halmstad. The empirical data was gathered through semi-structured personal interviews. Data was also supplemented with secondary data, such as web pages and scientific articles. The finding of this dissertation is that market knowledge and experience is a crucial, firm-specific advantage, which facilitates firm’s international expansion. In addition, the entrepreneur and network variables also have an impact on the internationalization process in direct or indirect ways. However, the study does not find obvious evidence that technology does help firms go to the foreign markets a lot.

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The springboard perspective argues that emerging market multinational enterprises (EMNEs) can overcome their latecomer disadvantages via aggressive and risk-taking capability-upgrading measures in developed economies. However, extant research is mainly designed to study cross-sectional data sets rather than longitudinal process research. Therefore, the former contributes little to explaining the evolution of EMNEs’ springboard strategy in a consideration of firm-specific capability-upgrading. Building on these main tenets and echoing scholars’ appeal for further research into EMNE’s capability-upgrading and qualitative process perspective, this thesis opens the way for two new avenues of research in the springboard literature: the initial springboard assumption, the springboard advantages of specific host locations – most notably small and open developed economies, and the relationship between different ownership structures and springboard strategy. By default of process research these avenues have been poorly explored. In order to address these avenues and further uncover the evolutionary motivations and processes of springboard behavior, this study uses Chinese multinational enterprise (CMNE) cases to investigate how they achieve firm-specific capability-upgrading through a process perspective.While CMNE strategies in large European markets such as Germany, the UK, and France have received considerable attention, there is a lack of in-depth research on the locational advantages of most notably small and open economies such as Belgium, the Netherlands or Luxemburg. Given the demand for the extension of the aforementioned springboard perspective and the specificity of the research object and setting, I follow a grounded approach as part of inductive research. Grounded theorizing is especially plausible in research contexts calling for theoretical elucidation grounded in the practitioners’ own experiences. This theory can provide a more complete and convincing argument through creative interpretation and systematic rigor. In this study, our major sources of data are collected by interviews. On the basis of a grounded analysis, five aggregate dimensions emerged which relate to the process of CMNE’ capability-upgrading through overseas investment: (I) Capability-upgrading intent, (II) Initial learning challenge, (III) Learning mechanism, (IV) Subsidiary bound evolution, (V) Capability evolution. Furthermore, we developed a three-phase model of springboard capability-upgrading starting from i) headquarter managers’ initial intent, ii) Subsidiary learning challenge, and iii) consequent renegotiation with headquarter managers with regard to the subsidiary’s capability-upgrading role. This result shows that the subsidiary mandates of CMNEs have evolved along with different stages of internationalization.This study makes two main contributions to the springboard literature. First, it challenges assumptions of the springboard perspective through a process perspective. Second, this study contributes to qualitative process research and proposes a grounded model of CMNE evolutionary springboard process based on a three-stage typology. It suggests that CMNEs’ learning through subsidiaries in small and open economies has extended the scope of the springboard perspective through insights into the evolutionary process. / Doctorat en Sciences économiques et de gestion / info:eu-repo/semantics/nonPublished

Internationalization of small and medium-sized enterprises (SMEs) has been a considerable concern for international business (IB) scholars. Particularly, for those economies such as Sweden with small local markets, internationalization of SMEs could be fundamental. The firm-specific advantages (FSAs), including what the firm has and does, are crucial for SMEs to overcome in the face of their numerous different obstacles such as liability of smallness (LOS) and liability of foreignness (LOF). Examining the extant literature on the evolution of IB theories indicates that over time, IB scholars have been reaching to dynamic-based FSAs (what the firm does) as the source of developing and protecting sustainable competitive advantages (SCA) across national borders in a changing business environment. The nature of dynamic-based FSAs could be similar to dynamic capabilities. But, when it comes to determining specific component factors  of dynamic-based  FSAs  (as dynamic  capabilities),  there has been little agreement between IB researchers. In other words, the room of the dynamic capabilities is still dark. In this respect, shedding light into this room, particularly in the area of IB studies, is crucial. In addition, after determining the component factors of the dynamic-based FSAs, it is also critical to know the likely relationships between the identified component factors as well as their impact on the SMEs’ international performance (IP) as an important outcome of the internationalization. This means that there is a potential theoretical gap associated with the conceptualization of the component factors of the dynamic-based FSAs on one hand, and a potential empirical gap on the other. Given both theoretical and empirical research gaps, the purpose of this study is to examine, from a theoretical perspective, the nature of the dynamic-based FSA and its related component factors in the IB context, as well as empirically explore how SMEs’ IP is influenced by the identified component factors of the dynamic-based FSAs. To perform this study, first of all, based on lenses of the resource-based view (RBV) and dynamic capability view (DCV), the literature on organizational capability in the context of the IB studies was systematically reviewed to fill the theoretical gap. Consequently, three component factors of dynamic-based FSAs including networking capability (NC) as a relational-based FSA, innovative capability (IC) as an innovative-based FSA and absorptive capacity (ACAP) as a learning-based FSA were identified, all of which are pluripotent and dynamic in nature. Then, a deductive approach was followed to develop several hypotheses and the associated conceptual model. Furthermore, a survey strategy, collecting data from 330 Swedish internationalized manufacturing SMEs, was applied to accomplish the purpose of the study. Then, the Partial Least Squares Structural Equation Modeling (PLS-SEM) as a quantitative method was used to analyze the collected data. The results of the PLS-SEM analysis show that the SMEs’ international performance (IP) is positively influenced by the three identified component factors, whether directly or indirectly. In this regard, ACAP and NC are the two reliable predictors (directly) of the SMEs’ IP. The results indicate that innovative capability (IC) does not have direct impact on the SMEs’ IP, and that its effect is fully transmitted on IP only by the mediating effect of the networking capability (NC). Further analysis showed that ACAP, as an endogenous latent variable, additionally has a positive indirect association with SMEs’ international performance (IP). Moreover, the results also indicate that innovative capability is directly and positively affected by ACAP (innovating-by-learning effect). It was also empirically revealed that ACAP is a very strong predictor for networking capability, which is labeled as the networking-by-learning effect. Another major finding was that in internationalized SMEs, NC is strongly, directly and positively affected by IC; this effect also is termed as the networking-by-innovating effect. The overall picture resulting from the PLS- SEM analysis indicates that ACAP in internationalized SMEs is a wellspring to develop both innovative capability and networking capability, as well as influence SMEs’ IP. Furthermore, these results suggest that the networking capability is a vital gateway to transmit the effect of the other two component factors on IP and, at the same time, directly influence IP.

The role of trust in market exchange has been of consistent interest to marketing researchers over the past decade. Many researches in marketing have shown that customer trust in a company and its representatives can positively influence customer loyalty. However, a customer¡¦s deal with a particular product/service provider can also be influenced by the customer¡¦s trust in the broader marketplace¡Xfor example, trust in those who regulate the market and trust in the professionals who populate the marketplace. Drawing from a number of disciplines in addition to marketing, we identify three types of trust (Institutional Trust, Role Trust, Generalized Trust) in the broader marketplace that might influence trust (interpersonal trust, firm-specific trust) between two exchange partners. Using survey results collected from direct sellers of Taiwan¡¦s direct selling companies, we test competing theories about the influence of this trust. Our results show that the influence of broad-scope trust on customer loyalty is not direct, but is mediated by narrow-scope trust. Because the substitutional view implies a direct relationship between broad-scope trust and customer loyalty, this finding supports the foundational view of the relationship between broad-scope and narrow-scope trust.

Although R&D activities continue to be the latest internationalized of MNCs¡¦ value adding activities even in the most internationalized industries, affiliates of MNCs have begun to account for a considerable proportion of domestic innovative activity in a number of countries. MNC decision-makings with respect to the location of R&D is determined by many factors, such as cost consideration, market size, excellent technological environment, policy factor, to transfer technology and to adapt their technology to the host market. Those above are R&D motivations. Therefore, this research will explore if the R&D motivations affect the R&D strategy. Furthermore, many researches also found that the firm-specific features effects the R&D strategy. And the firm-specific features in the research include nationality, size, the degree of R&D capability and resources in the MNC subsidiary. Finally, the research categorizes the R&D strategies into locally responsive R&D strategy and globally integrated R&D strategy. The purpose of this research is to explore a framework to analyze the relationship among the dependent variables (that are motivation and firm-specific feature) and the independent variable (that are locally responsive R&D strategy and globally integrated R&D strategy). 54 samples of MNC subsidiaries in Taiwan are used in this research, and method of multiple regression is used to test these hypotheses. Finally, we can find that R&D motivations and firm-specific features have significant effects on R&D strategies practices in MNC subsidiaries in Taiwan.