The purpose of this thesis is to analyze how emerging market multinational enterprises (EMNEs) can effectively bridge the cultural gap between their home market operations and internationalized operations in advanced markets like Sweden, particularly with regards to adapting recruitment strategies to secure top talent in the new business context. The authors aim to expand the existing ‘springboard framework’ for internationalization by multinational enterprises originating in emerging market countries which are increasingly reshaping the global competitive landscape. The study interviewed seven managers with extensive experience working in both advanced and emerging markets, and five top talent from two of the highest ranked Swedish business schools. The study found that for EMNEs cultural distance is a secondary consideration when expanding to advanced markets and their main focus is showcasing their value proposition to clients, customers, and top talent alike. From the experience of the executives interviewed for this thesis, top talent prioritizes organizational and managerial values that a company imbibes and the career progression that it provides over remunerations. This was confirmed by the top talent we interviewed who repeatedly spoke about how important career opportunities and organizational values were for them. The findings from our thesis contribute to expanding the field of cross- cultural management theory by supplying a qualitative study of EMNE adaptation for internationalization. They also contribute to the recruitment literature by demonstrating how EMNEs have to adapt their HRM systems to the local environments in order to gain the attention of and acquire the local top talent.

In South Africa Multinational Enterprises (MNEs) have to contend with the typical adversarial relations with a host government. In addition, MNEs operate in an environment regulated by a government policy of Redress, aimed at changing the wealth profile of the country to reflect the ethnic demographics. Policies such as Broad Based Black Economic Empowerment, Affirmative Action and Preferential Procurement are interventionist and place additional burden on the MNEs. Implementations of these regulations are often the source of conflict between MNEs and the local government. Ethno-cultural distance aggravates the strained relations between the MNE and host government. The policy of Redress effectively legislates the incorporation of local third parties that are ethno-culturally related to government into the competitive strategies of MNEs. Joint ventures with locals are an acknowledged strategy to enter foreign markets, providing for legitimisation and access to networks. The choice in strategy when dealing with the home government of either a relational or transactional approach is transferable to the MNE host government environment. Political levels have proven to be inaccessible but successful business transactions with government are abundant. The transactional approach dominates as a result of the failure to establish any relations with the host government, negating the pursuit of the relational approach. Third parties play an enabling role in successful transactions, ranging from providing access to government employees up to securing the deal and transacting with the MNE at arms-length. The absence of any social capital in successful transactions requires re-evaluation of the role of social capital in bridging barriers in business relations. Possible explanations are in the linking that the social capital of the third party with the government and MNE employees respectively has, an extremely low threshold for social capital in successful transactions, the force exerted by the need for the products or services, or, most probable, the profit motive. The distance between the government and MNE is extreme as a result of the historical strife between the ethnic groups in the country and the policy of Redress. The connotation with the social environment deters the active pursuit of social capital to gain competitive advantage. / D.B.L.

台灣產險業在西元1991年後，配合台商產業外移擴張及政府南進與西向政策，紛紛於東南亞及中國大陸設立辦事處以服務台商。雖然產險業於海外設立據點已有十九年，但礙於各國保險法令規定及保險業投資限制，致使產險業在國際市場之經營迄今仍無重大突破。 本研究將針對目前產險業在海外東南亞據點及未來最大之保險市場-中國作完整探討，對各國目前經濟成長、保險市場、外資投資保險法令、及台商在該國的投資狀況分析及歸納，以做為台灣產業未來在當地經營發展之參考。 本研究文以日本產險業三井住友保險集團為比較模式，利用多國籍企業與海外市場進入模式，探討保守的日本保險公司如何在海外經營日商業務；進而以購併方式取得海外當地業務，以達到該公司全球策略願景。 台灣產物保險業應根據海外各據點之資源及條件，運用本身的競爭優勢以及自己的需求到不同地區做投資佈局；台灣產險業未來全球佈局的考量應是市場重於成本。 / In view of Taiwanese enterprises’ expansion to world market since 1991 and government’s policy toward Southeast Asia and policy toward West Mainland China, Taiwan non-life insurance companies decided to go abroad to set up office for serving their clients. Although Taiwan non-life insurance companies have 19 years experience in exploring world market, however, they still have no breakthrough in overseas business. In this study, I will bring out my view for the operation of non-life insurance companies in Southeast Asia and Mainland China which will be the biggest market in the future. The analysis for countries economic growth, local insurance market, laws of foreign insurance company entry, Taiwanese enterprise investment is also presented in the study. In order to study Multination Enterprise & Overseas Market Entry Model, Mitsui Sumitomo Insurance Group is taken as a model to analyze how the conservative non-life Japanese insurance company expand their international business and write local accounts by merging to achieve their global perspective. By the analysis, we can find that Taiwan non-life insurance companies shall utilize their advantage and resource to explore their strategy in different countries. Basically, they shall center on market instead of cost when they build global strategy.

依現行所得稅法規定，只要受控外國公司盈餘未匯回，即可享有「租稅遞延」的效果，由於近十年臺灣利用受控外國公司，對大陸間接投資金額占全部對外投資總額比重超過五成以上，又因上市公司投資金額較大且具有代表性，因此本論文以國內上市公司利用受控外國公司，間接投資大陸子公司為研究對象，探討國內上市公司是否有透過「受控外國公司」不分配盈餘，藉由稅法「漏洞」以產生遞延課稅之效果，及我國若是建立受控外國公司課稅制度，對我國上市公司投資大陸子公司其損益稅負之影響。 　　本文研究結果，發現國內上市公司利用受控外國公司投資大陸子公司，普遍存在有盈餘卻不分配且不匯回之現象，我國有建立受控外國公司課稅制度之正當性及必要性；且我國如建立受控外國公司課稅制度，以產業別而言電子產業受影響最大，以研發強度而言，研發強度在5%~7%及9%以上之企業有較大之影響。又雖然實施受控外國公司課稅制度後，對於中等規模(資本額50億至100億)之有效稅率增加幅度最大，但受影響而應繳納稅負之金額仍以大型規模之企業為最高。 　　因此我國建立受控外國公司課稅制度，能拉近不同特性企業間適用有效稅率的差距，對舉債投資得扣除利息費用，境外投資收益卻能遞延課稅，以及在台灣享有研發投資抵減利益，卻有高額境外所得保留在海外未匯回台灣課稅之公司，有一定衡平作用，則我國建立受控外國公司課稅制度，實已非僅財政收入之考量而已，相對而言，改善租稅公平才是具有更大的意涵，因此有其正當性及必要性。文末提出幾點建議，期能作為政府研擬受控外國公司課稅制度之參考。 關鍵詞：受控外國公司、租稅庇護所、多國籍企業 / According to the current provisions of the Income Tax Act, Taiwanese companies will benefit from the "tax deferral" by not unremitting overseas earnings of their controlled foreign corporations (CFCs). Since the last decade in Taiwan, many companies have been increasing investments in Mainland China via their controlled foreign corporations, the investment in Mainland China have accounted for over half the Taiwanese total foreign investments. Therefore, this study focuses on the Taiwanese listed companies which invest indirectly in Mainland China. Furthermore, the controlled foreign corporations have become a tax loophole; this study examines whether those listed companies leverage the tax loophole to gain the tax benefit through the "tax deferral of Chinese subsidiary earnings." Besides, this study estimates the potential impacts on the profit and tax costs of the mainland subsidiaries of Taiwanese listed companies, if the controlled foreign corporation (CFC) tax system will be established in the future. 　　The results of this study show that the majority of Taiwanese listed companies do not fully distribute and remit the Chinese subsidiary earnings back to Taiwan. Hence, it is necessary for Taiwan to establish the controlled foreign company tax system to close the tax loophole. As to the impacts on industries, the electronics industries will be most affected by the CFC tax system, if established. In addition, companies whose R&D intensity range from 5% to 7% and over 9% will also be significantly influenced. Although the effective tax rates of medium-sized companies will have the highest increase in effective tax rates, but large companies will have the highest increase in the amount of CFC tax. 　　Therefore, the establishment of CFC tax system will contribute to narrowing down the gaps in effective tax rates between different firm characteristics of companies. Moreover, the new tax system can help prevent companies from shirking their fair shares of tax payments. The establishment of CFC tax system is not just for fiscal revenues, but also for the improvement of tax fairness—the latter being more important. Finally, this study concludes with suggestions that may be the useful references for the government to design CFC tax system in the future. Key words：Controlled Foreign Corporation, Tax Haven, Multinational Enterprise

Diss.Stockholm : Handelshögsk.

In South Africa Multinational Enterprises (MNEs) have to contend with the typical adversarial relations with a host government. In addition, MNEs operate in an environment regulated by a government policy of Redress, aimed at changing the wealth profile of the country to reflect the ethnic demographics. Policies such as Broad Based Black Economic Empowerment, Affirmative Action and Preferential Procurement are interventionist and place additional burden on the MNEs. Implementations of these regulations are often the source of conflict between MNEs and the local government. Ethno-cultural distance aggravates the strained relations between the MNE and host government. The policy of Redress effectively legislates the incorporation of local third parties that are ethno-culturally related to government into the competitive strategies of MNEs. Joint ventures with locals are an acknowledged strategy to enter foreign markets, providing for legitimisation and access to networks. The choice in strategy when dealing with the home government of either a relational or transactional approach is transferable to the MNE host government environment. Political levels have proven to be inaccessible but successful business transactions with government are abundant. The transactional approach dominates as a result of the failure to establish any relations with the host government, negating the pursuit of the relational approach. Third parties play an enabling role in successful transactions, ranging from providing access to government employees up to securing the deal and transacting with the MNE at arms-length. The absence of any social capital in successful transactions requires re-evaluation of the role of social capital in bridging barriers in business relations. Possible explanations are in the linking that the social capital of the third party with the government and MNE employees respectively has, an extremely low threshold for social capital in successful transactions, the force exerted by the need for the products or services, or, most probable, the profit motive. The distance between the government and MNE is extreme as a result of the historical strife between the ethnic groups in the country and the policy of Redress. The connotation with the social environment deters the active pursuit of social capital to gain competitive advantage. / D.B.L.

本文探討台灣銀行業進入東南亞國家的因素，著重於從理論假設到實證研究，先以跨國銀行理論作為框架提出假設，接著利用實證方法來分析追隨客戶的動機可否充分解釋台灣銀行業的擴張行為？又或者是折衷理論之解釋較為全面？最後對於實證結果進行分析，研究發現：追隨客戶、地主國國家的經濟發展、地主國的融資及母行本身的條件是影響台灣銀行業者跨國經營的主要因素。 / This paper analyze the determinants of the overseas physical presences of Taiwanese banks in Southeast Asia. We focus on the process of from theoretical hypotheses to empirical studies. First, we propose hypotheses based on the theory framework of multinational bank, and then, the multiple regression models are adopted and we investigate whether the “follow-the-client’’ hypothesis is held？Or can the test results in views of eclectic theory explain Taiwanese banks’ behavior more comprehensively. The results of this paper are as follows: following their customers, the host countries’ economy, the host countries’ financing market, and the parent banks’ specific qualities are the main factors affecting the number of presences Taiwanese banks in Southeast Asia.

Cette thèse examine l’imbrication du social et du matériel dans les entreprises multinationales, lors du transfert transnational des pratiques de gestion des ressources humaines, et plus particulièrement le transfert des pratiques de gestion de la performance. En me basant sur l’étude de quatre entités chinoises locales d’une entreprise transnationale comme cadre de mon étude de cas, j’explore comment les salariés locaux s’approprient les pratiques de gestion de la performance en internalisation les pratiques globales et en innovant pour les adapter à leur environnement local. Cette étude se fonde sur 60 entretiens, des données secondaires et des observations collectées sur plus de dix ans. Dans la première partie de cette thèse j’explore plus particulièrement l’appropriation des pratiques de gestion des ressources humaines au niveau micro et j’identifie quatre archétypes de l’appropriation des pratiques de gestion des ressources humaines : formelle, cérémoniale, déviante et innovante. Dans la deuxième partie de cette thèse, je me concentre sur l’appropriation des pratiques de gestion des ressources humaines au niveau meso. En me fondant sur la théorie de la Sociomatérialité, je propose une nouvelle définition de l’hybridation comme le processus par lequel des pratiques uniques émergent dans des filiales locales à partir de l’imbrication du social et du matériel entre le siège et les filiales locales des entreprises multinationales. Cette définition me permet d’identifier deux nouvelles formes de gestion de la performance dans les quatre entités de l’entreprise multinationale étudiée que j’ai appelées la pratique harmonieuse confucéenne de gestion de la performance et la pratique harmonieuse instrumentale de gestion de la performance. Dans le troisième chapitre, je me base sur les résultats empiriques des deux chapitres précédents pour conceptualiser un modèle multiniveau intégré du transfert transnational des pratiques de gestion des ressources humaines, en développant un autre concept central de la théorie de la Sociomatérialité: la notion de « dispositif ». Cette thèse a ainsi pour objectif de contribuer à la fois à la littérature en gestion internationale des ressources humaines et à la littérature sur la sociologie des outils de gestion. / The present dissertation examines the entanglement of the social and material in Multinational Enterprises during the transnational transfer of Human Resource Management Practices, especially Performance Management Practices. Using 4 local Chinese entities of a transnational firm as my case study, I explore how local employees make Performance Management practices their own, both internalizing global practices and innovating to adapt to local environments. This research is based on 60 interviews, secondary materials and direct observations over more than 10 years. In the first chapter of this dissertation, I explore more specifically the adoption of Human Resource Management practices at the micro level, and I identify four archetypes of the adoption of Human Resource Management practices: formal, ceremonial, deviant and innovative. In the second chapter, I focus on the adoption of Performance Management practices in Multinational Enterprises at a meso level. Drawing on sociomaterial theory, I propose a new definition of hybridization as being a process by which unique practices emerge in local subsidiaries from the entanglement of the social and the material at Headquarters and in local subsidiaries. This definition allowed me to identify two new hybrid performance management practices in the four Chinese entities of the Multinational Enterprises under investigation, which I have called the “harmonious Confucian” Performance Management practice and the “harmonious instrumental” Performance Management practice. In the third chapter, I build on the results of the two previous empirical chapters to conceptualize an integrated multilevel model for the transnational transfer of Human Resource Management practices in Multinational Enterprises by expanding another central concept to sociomaterial theory: the notion of “apparatus”. This dissertation aims therefore at contributing both to International Human Resources Management literature and to the literature of the sociology of management tools.

Since the 2000s, India has emerged as one of the top recipients of foreign direct investment (FDI) amongst the emerging markets. Yet, the international business (IB) literature on FDI flows into India is still nascent. Recent developments have not been adequately covered and a coherent theoretical framework guiding a contextualized discussion is rarely utilized. This three paper dissertation seeks to explore the idiosyncrasies of post-millennial India and how they connect to the current motivation of foreign multinational enterprises (MNEs) to invest into the Indian market. While the research is theory-driven, the empirical findings provide a new perspective to the IB debate by helping to better understand the sensitivity of FDI decisions to various phenomena in India’s economic, institutional and social fabric in the 2000s. Both the recent diversification within knowledge-intensive industries and the various pro-market reforms that are increasingly bearing fruits have created new opportunities for foreign MNEs – especially for those targeting India’s tertiary sector and its large specialized talent base.

Hlavním cílem této diplomové práce je kritická analýza strategie společenské odpovědnosti (CSR) firmy Lush Cosmetics Limited (Lush) a objevení vztahu mezi CSR aktivitami a konkurenceschopností. Teoretická část práce představuje teorie soutěže a koncept společenské odpovědnosti. Následuje diskuze studií vztahu dlouhodobé konkurenceschopnosti firmy and složek CSR. Analytická část zjišťuje CSR aktivity společnosti Lush pomocí hybridu Porterovy analýzy hodnotového řetězce a obsahové analýzy hlavních komunikačních kanálů společnosti. Teoretické závěry z první kapitoly posloužily jako základ pro konstrukci online dotazníkového šetření na téma zákaznické percepce CSR a společnosti Lush. Autor kriticky hodnotí CSR strategii Lushe, diskutuje průsečíky mezi CSR, zákazníky a konkurenceschopností, a taktéž poukazuje na možná zlepšení.