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Abstract
This special issue is the result of a workshop on the effects of foreign direct investment on the development of entrepreneurial and managerial capabilities in host economies. Our aim was, rather than to look at the more generic competencies of firms, to call attention to the knowledge, skills and abilities embodied in individuals and, particularly, in managerial and technical professionals working for subsidiaries of multinationals or for local companies with foreign investors. We specifically addressed the question of to what extent these professionals’ capabilities could have been born, developed or shaped by working for, or alongside, foreign firms. This may explain in part the rapid ascension of the so-called dragon or new multinationals from late industrializing and emerging economies. Foreign investment is considered to have stimulated economic modernization and industrial progress in a Gerschenkronian way, thus advancing catching-up with traditional economic leaders. Our approach to the effects of foreign investment on host markets, therefore, would contribute not only providing insight into corporate internationalization strategies and international human resource management, but also into how industrial progress and economic modernization spread to new areas and regions. We aim to address these two traditional research questions of management and economic scholarship from a microeconomic and hence business-history-oriented perspective, as well as beyond these to professionals and education systems, through the analysis of knowledge transfer at country, industry and firm level.
Disclosure statement
No potential conflict of interest was reported by the authors.
Notes
1 Jones, ‘Editor’s Introduction,’ 403.
2 Jones, ‘Business History,’ 177.
3 Dunning and Lundan, Multinational Enterprises, 314.
4 Kogut and Zander, ‘Knowledge of the firm,’ 24.
5 Edström and Galbraith, ‘Transfer of managers,’ 248; Collings and Scullion, ‘Global Staffing,’ 1249.
6 Harzing, ‘An Analysis of the Functions,’ 581.
7 Jones, Multinationals and Global, 8.
8 Jones, Multinationals and Global, 260; Jones, ‘Business History,’ 177; Velde, Foreign Direct Investment, 15; Wilkins, ‘Multinational Enterprises,’ 638.
9 Lall and Narula, ‘Foreign Direct Investment,’ 447; Dunning and Lundan, Multinational Enterprises, 189; Wilkins, ‘The Role of Private Business,’ 172.
10 Bloom and Van Reenen, ‘Why Do Management,’ 203.
11 Bhaumik et al., ‘Spillovers from FDI.’
12 Fellman et al., Creating Nordic capitalism.
13 Engwall and Pahlberg, ‘The Diffusion of European.’
14 Bartlett and Ghoshal, Managing Across Borders.
15 Andersson and Forsgren, ‘Subsidiary Embeddedness,’ 487; Meyer et al., ‘Multinational Enterprises,’ 235.
16 Lall and Narula, ‘Foreign Direct Investment,’ 447; Meyer et al., ‘Multinational Enterprises,’ 235; Moran, Foreign Direct Investment; Moran, ‘How Does FDI Affect,’ 281; Narula and Driffield, ‘Does FDI Cause Development?,’ 1; Brewster et al., ‘Exploring Expatriate Outcomes,’ 1921; Narula, ‘Foreign Direct Investment,’ 45.
17 Jones and Khanna, ‘Bringing History (Back),’ 453; Buckley, ‘Business History,’ 307; Álvaro-Moya and Donzè, ‘Business History,’ 122.
18 Jones, Multinationals and Global; ‘Firms and Global,’ 169.
19 Neal and Cameron, A Concise Economic History, 194; Graff et al., Growth of the International, 40; Wilkins, ‘Comparative hosts,’ 18.
20 Jones, ‘Firms and Global Capitalism,’ 169.
21 O’Rourke and Williamson, Globalization and History.
22 Fellman and Shanahan, ‘Sectoral Influence on Competition,’ 633.
23 Wilkins, ‘The Role of Private Business,’ 135.
24 Jones, Multinationals and Global Capitalism, 22.
25 UNCTAD, World Investment Report 2003.
26 UNCTAD, World Investment Report 2012.
27 UNCTAD, World Investment Report 2019.
28 Jones, ‘Firms and Global Capitalism,’ 169.
29 Jones, ‘Firms and Global Capitalism,’ 169; Wilkins, The Maturing of Multinational Enterprise.
30 Lluch and Lanciotti, ‘Las empresas extranjeras durante,’ 69; Belini, 305;
31 López, ‘Multinational Enterprises in Argentina,’ 108.
32 Jones, ‘Learning to Live with Governments,’ 78.
33 Headrik, The Tentacles of Progress; Piquet, ‘The Suez Company’s Concession,’ 107.
34 Decker, ‘Africanization in British Multinationals,’ 691.
35 Lindblad, Bridges to New Business; Kerkhof, ‘‘Colonial’ Enterprise,’ 175; see also Sluyterman in this volume.
36 Jones, ‘Business History,’ 177; Sluyterman, Keeping Competitive; Wilkins, The Maturing of Multinational.
37 Miller, ‘Staffing and Management,’ 152.
38 Ackrill and Hannah, Barclays, 272.
39 Van den Bersselaar, ‘Doorway to Success?’ 257.
40 Jones, ‘Business History,’ 177.
41 Servan-Schreiber, The American Challenge.
42 Wilkins, The Maturing of Multinational Enterprise; Maddison, The World Economy.
43 There is a large scholarship on the Americanization of the European enterprise which we cannot include here. The scholarship, however, does not only focus on FDI, but includes productivity missions and technical assistance programs, among other initiatives. For a comprehensive picture, see Kipping and Bjarnar, (Citation1998), Zeitlin and Herrigel, (Citation2000), and Schröter, (Citation2005).
44 Dunning, American Investment.
45 Jones and Bostock, ‘US Multinationals in British,’ 247.
46 Tolliday, ‘Transplanting the American Model?,’ 76.
47 Godley, ‘Selling the Sewing Machine,’ 266; De La Cruz-Fernández, ‘Marketing the Hearth: Ornamental,’ 442.
48 Gerschenkron, Economic Backwardness.
49 Colli, ‘Multinationals and Economic Development,’ 303.
50 Sandvik and Storli, ‘Big Business and Small States,’ 109; Puig and Álvaro-Moya, ‘La huella del capital extranjero en España,’ 249; Cerretano, ‘Multinational Business,’ 540.
51 Puig and Álvaro-Moya, ‘La huella del capital extranjero en España,’ 249; ‘The Long-Term Effects,’ 425.
52 Escudero, ‘Transferencias Tecnológicas,’ 297; Muñiz Sánchez, ‘Los inicios de la emigración,’ 49.
53 Dugstad Sanders et al. ‘Dealing with Globalization,’ 1210.
54 Fellman, ‘Pieni ja syrjäinen maa?,’ 20.
55 Müller and Lüpold, FDI of Swiss Firms.
56 Jones, Multinationals and Global; Bartlett and Ghoshal, Managing Across Borders.
57 Johanson and Vahlne, ‘The Internationalizations Process,’ 23; ‘The Uppsala Internationalization,’ 1411; Dunning, ‘Explaining the International,’ 30; Dunning and Narula, ‘The Investment Development Path,’ 1.
58 Amsden, The Rise of ‘the Rest’; Jones, ‘Business History,’ 187; 59.
59 Lubinski, ‘Liability of Foreignness,’ 722.
60 Casanova, Global Latinas.
61 Da Silva et al., ‘Organizational Innovation,’ 1338.
62 Lubinski, ‘Global Trade and Indian Politics,’ 503.
63 Jones, ‘Business History,’ 187.