文献类型：期刊文献

英文题名：Outbound linkage and inbound leverage for emerging multinationals: A signaling theory perspective

作者：Yan, Haifeng[1];Wang, Juan[1];Deng, Ping[2]

机构：[1]East China Univ Sci & Technol, Sch Business, Shanghai 200237, Peoples R China;[2]Cleveland State Univ, Monte Ahuja Coll Business, Cleveland, OH 44115 USA

年份：2018

卷号：35

期号：2

起止页码：347

外文期刊名：ASIA PACIFIC JOURNAL OF MANAGEMENT

收录：;WOS:【SSCI(收录号:WOS:000432131800003)】；

基金：We thank the guest-editorial team and two reviewers of the Special Issue on "A Decade of Dragon MNEs," as well as the editor and the reviewer of this issue for their insightful and constructive comments. This research is partially supported by National Natural Science Founding of China (No. 71072071) and Monte Ahuja Endowment Fund for the Monte Ahuja Endowed Chair of Global Business at Cleveland State University.

语种：英文

外文关键词：emerging market multinationals (EMNEs); inbound leverage; outbound linkage; outward FDI; signaling theory

摘要：Despite the rise of interest in emerging market multinationals (EMNEs), the question of whether outward foreign direct investment (FDI) influences their resource acquisition in home countries remains underexplored. Contrary to the prior literature, which contends that EMNEs build outbound linkage through outward FDI so as to leverage outbound resources, this paper, however, focuses on whether outbound linkage influences their inbound resource leverage from home countries as well. Drawing on signaling theory, we propose that outbound linkage to developed countries, developing countries, and tax havens via outward FDI may reflect EMNEs' different quality and prospects, which in turn influence their inbound leverage of government, financial, and market resources, respectively. Using panel data of 581 Chinese listed firms during the period 2002-2012, we largely verified our hypotheses, thus extending the boundary of the consequences of outward FDI on EMNEs in the signaling theory perspective.