The Effect of Context-Related Moderators on the Internationalization-Performance Relationship: Evidence from Meta-Analysis

  • Mario Krist

Empirical research in a certain domain typically involves three phases (Hunter and Schmidt, 1990). In the first phase researchers conduct individual studies with the ambition that their efforts will lead to a clear answer to the research question at hand. Inevitably, these single studies suffer from statistical bias such as sampling error, measurement error, and range restriction. As a consequence empirical results across studies might not be conclusive or even contradictory and lead to different interpretations of the phenomenon under investigation.


Foreign Direct Investment Firm Size Firm Performance Effect Size Estimate Strategic Management Journal 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.


Studies employed in the meta-analysis are denoted with an asterisk

  1. Aggarwal, R. (1979) ‘Multinationality and Stock Market Valuation: An Empirical Study of U.S. Markets and Companies’, Management International Review 19(2): 5–12.Google Scholar
  2. Amit, R. and Schoemaker, P.J.H. (1993) ‘Strategic Assets and Organizational Rent’, Strategic Management Journal 14(1): 33–46.CrossRefGoogle Scholar
  3. Annavarjula, M.G. and Beldona, S. (2000) ‘Multinationality-Performance Relationship: A Review and Reconceptualization’, The International Journal of Organizational Analysis 8(1): 48–67.CrossRefGoogle Scholar
  4. Autio, E., Sapienza, H.J. and Almeida, J.G. (2000) ‘Effects of Age at Entry, Knowledge Intensity, and Imitability on International Growth’, Academy of Management Journal 43(5): 909–924.CrossRefGoogle Scholar
  5. Barkema, H.G. and Vermeulen, F. (1998) ‘International Expansion through Start-up or Acquisition: A Learning Perspective’, Academy of Management Journal 41(1): 7–26.CrossRefGoogle Scholar
  6. Barney, J.B. (1991) ‘Firm Resources and Sustained Competitive Advantage’, Journal of Management 17(1): 99–120.CrossRefGoogle Scholar
  7. Benvignati, A.M. (1987) ‘Domestic Profit Advantages of Multinational Firms’, Journal of Business 60(3): 449–461.CrossRefGoogle Scholar
  8. Bettis, R.A. and Hall, W.K. (1982) ‘Diversification Strategy, Accounting Determined Risk, and Accounting Determined Return’, Academy of Management Journal 25(2): 254–264.CrossRefGoogle Scholar
  9. Biggadike, R.E. (1979) ‘The Risky Business of Diversification’, Harvard Business Review 57(3): 103–111.Google Scholar
  10. ∗Bloodgood, J.M., Sapienza, H.J. and Almeida, J.G. (1996) ‘The Internationalization of New High- Potential U.S. Ventures: Antecedents and Outcomes’, Entrepreneurship: Theory & Practice 20(4): 61–76.Google Scholar
  11. Boddewyn, J.J. (1988) ‘Political Aspects of MNE Theory’, Journal of International Business Studies 19(3): 341–363.CrossRefGoogle Scholar
  12. Brewer, H.L. (1981) ‘ Investor Benefits from Corporate International Diversification’, Journal of Financial and Quantitative Analysis 16(1): 113–124.CrossRefGoogle Scholar
  13. Brewer, T.L. (1992) ‘An Issue-Area Approach to the Analysis of MNE-Government Relations’, Journal of International Business Studies 23(2): 295–309.CrossRefGoogle Scholar
  14. Brush, C.G. (1995) International Entrepreneurship: The Effects of Firm Age on Motives of Internationalization, Garland: New York.Google Scholar
  15. Brush, C.G. and Vanderwerf, P.A. (1992) ‘A Comparison of Methods and Sources for Obtaining Estimates of New Venture Performance’, Journal of Business Venturing 7(2): 157–170.CrossRefGoogle Scholar
  16. Buckley, P.J. and Casson, M. (1976) The Future of the Multinational Enterprise, Macmillan: London.Google Scholar
  17. Buckley, P.J., Dunning, J.H. and Pearce, R.D. (1977) ‘The Influence of Firm Size, Industry, Nationality, and Degree of Multinationality in the Growth and Profitability of the World's Largest Firms’, Weltwirtschaftliches Archiv 114: 243–257.CrossRefGoogle Scholar
  18. ∗Buhner, R. (1987) ‘Assessing International Diversification of West German Corporations’, Strategic Management Journal 8(1): 25–37.Google Scholar
  19. Capar, N. and Kotabe, M. (2003) ‘The Relationship between International Diversification and Performance in Service Firms’, Journal of International Business Studies 34(4): 345–355.Google Scholar
  20. Carrier, C. (1994) ‘Intrapreneurship in Large Firms and SMEs: A Comparative Study’, International Small Business Journal 12(3): 54–61.CrossRefGoogle Scholar
  21. Caves, R.E. (1971) ‘Industrial Corporations: The Industrial Economics of Foreign Investment’, Economica 38(149): 1–27.CrossRefGoogle Scholar
  22. Caves, R.E. (1982) Multinational Enterprise and Economic Analysis, Cambridge University Press: Cambridge, MA.Google Scholar
  23. Chang, S.J. and Rosenzweig, P.M. (2001) ‘The Choice of Entry Mode in Sequential Foreign Direct Investment’, Strategic Management Journal 22(8): 747–776.CrossRefGoogle Scholar
  24. Chang, Y. and Thomas, H. (1989) ‘The Impact of Diversification Strategy on Risk-Return Performance’, Strategic Management Journal 10(3): 271–284.CrossRefGoogle Scholar
  25. ∗Chen, R. and Martin, M.J. (2001) ‘Foreign Expansion of Small Firms: The Impact of Domestic Alternatives and Prior Foreign Business Involvement’, Journal of Business Venturing 16(6): 557–574.Google Scholar
  26. Christophe, S.E. (1997) ‘Hysteresis and the Value of the U.S. Multinational Corporation’, Journal of Business 70(3): 435–462.CrossRefGoogle Scholar
  27. Cohen, J. (1977) Statistical Power Analysis for the Behavioral Science, Academic Press: New York.Google Scholar
  28. Cohen, W.M. and Levinthal, D.A. (1990) ‘Absorptive Capacity: A New Perspective on Learning and Innovation’, Administrative Science Quarterly 35(1): 128–152.CrossRefGoogle Scholar
  29. Collins, J.M. (1990) ‘A Market Performance Comparison of U.S. Firms Active in Domestic, Developed and Developing Countries’, Journal of International Business Studies 21(2): 271–287.CrossRefGoogle Scholar
  30. Combs, J.G. and Ketchen Jr., D.J. (2003) ‘Why Do Firms Use Franchising as an Entrepreneurial Strategy? A Meta-Analysis’, Journal of Management 29(3): 443–465.Google Scholar
  31. Contractor, F.J., Kundu, S.K. and Hsu, C.C. (2003) ‘A Three-Stage Theory of International Expansion: The Link between Multinationality and Performance in the Service Sector’, Journal of International Business Studies 34(1): 5–18.CrossRefGoogle Scholar
  32. Coviello, N.E. and McAuley, A. (1999) ‘ Internationalisation and the Smaller Firm: A Review of Contemporary Empirical Research’, Management International Review 39(3): 223–256.Google Scholar
  33. Covin, J.G., Slevin, D.P. and Covin, T.J. (1990) ‘Content and Performance of Growth-Seeking Strategies: A Comparison of Small Firms in High-and Low-Technology Industries’, Journal of Business Venturing 5(6): 391–412.CrossRefGoogle Scholar
  34. Dalton, D.R., Daily, C.M., Ellstrand, A.E. and Johnson, J.L. (1998) ‘Meta-Analytic Reviews of Board Composition, Leadership Structure, and Financial Performance’, Strategic Management Journal 19(3): 269–290.CrossRefGoogle Scholar
  35. Dalton, D.R., Daily, C.M., Johnson, J.L. and Ellstrand, A.E. (1999) ‘Number of Directors and Financial Performance: A Meta-Analysis’, Academy of Management Journal 42(6): 674–686.CrossRefGoogle Scholar
  36. Daniels, J.D. and Bracker, J. (1989) ‘Profit Performance: Do Foreign Operations Make a Difference?’ Management International Review 29: 46–56.Google Scholar
  37. Davidson, W.H. (1983) ‘Market Similarity and Market Selection: Implications for International Marketing Strategy’, Journal of Business Research 11: 439–456.CrossRefGoogle Scholar
  38. DeCarolis, D.M. (2003) ‘Competencies and Imitability in the Pharmaceutical Industry: An Analysis of Their Relationship with Firm Performance’, Journal of Management 29(1): 27–50.CrossRefGoogle Scholar
  39. ∗Delios, A. and Beamish, P.W. (1999) ‘Geographic Scope, Product Diversification, and the Corporate Performance of Japanese Firms’, Strategic Management Journal 20(8): 711–727.Google Scholar
  40. Delios, A. and Henisz, W.J. (2000) ‘Japanese Firms’ Investment Strategies in Emerging Economies', Academy of Management Journal 43(3): 305–323.CrossRefGoogle Scholar
  41. Denis, D.J., Denis, D.K. and Yost, K. (2002) ‘Global Diversification, Industrial Diversification, and Firm Value’, Journal of Finance 57(5): 1951–1979.CrossRefGoogle Scholar
  42. ∗Dhanaraj, C. and Beamish, P.W. (2003) ‘A Resource-Based Approach to the Study of Export Performance’, Journal of Small Business Management 41(3): 242–261.Google Scholar
  43. Doukas, J.A. and Lang, L.H.P. (2003) ‘Foreign Direct Investment, Diversification and Firm Performance’, Journal of International Business Studies 34(2): 153–172.CrossRefGoogle Scholar
  44. ∗Dragun, D. (2002) ‘Challenging the Rhetoric: Internationalisation, Size and Financial Performance’, European Retail Digest(36): 25–33.Google Scholar
  45. Dunning, J.H. (1981) International Production and the Multinational Enterprise, George Allen and Unwin: London.Google Scholar
  46. Dunning, J.H. (1988) ‘The Eclectic Paradigm of International Production: A Restatement and Some Possible Extensions’, Journal of International Business Studies 19(1): 1–31.CrossRefGoogle Scholar
  47. Dunning, J.H. (1993) The Globalization of Business, Routledge: London.Google Scholar
  48. Eden, D. (2002) ‘Replication, Meta-Analysis, Scientific Progress, and AMJ's Publication Policy’, Academy of Management Journal 45(5): 841–846.Google Scholar
  49. Egelhoff, W.G. (1982) ‘Strategy and Structure in Multinational Corporations: An Information Processing Approach’, Administrative Science Quarterly 27(1): 435–458.CrossRefGoogle Scholar
  50. Eramilli, M.K. (1991) ‘The Experience Factor in Foreign Market Entry Behavior of Service Firms’, Journal of International Business Studies 22: 479–501.CrossRefGoogle Scholar
  51. Errunza, V.R. and Senbet, L.W. (1984) ‘International Corporate Diversification, Market Valuation, and Size-Adjusted Evidence’, Journal of Finance 39(3): 727–745.CrossRefGoogle Scholar
  52. Fatemi, A.M. (1984) ‘Shareholder Benefits from Corporate International Diversification’, Journal of Finance 39(5): 1325–1344.CrossRefGoogle Scholar
  53. Franko, L.G. (1989) ‘Global Corporate Competition: Who's Winning, Who's Losing, and the R&D Factor as one Reason Why’, Strategic Management Journal 10(5): 449–475.CrossRefGoogle Scholar
  54. Garrod, N. and Rees, W. (1998) ‘International Diversification and Firm Value’, Journal of Business Finance & Accounting 25(9/10): 1255–1281.CrossRefGoogle Scholar
  55. ∗Geringer, J.M., Beamish, P.W. and DaCosta, R.C. (1989) ‘Diversification Strategy and Internationalization: Implications for MNE Performance’, Strategic Management Journal 10(2): 109–119.Google Scholar
  56. ∗Geringer, J.M., Tallman, S. and Olsen, D.M. (2000) ‘Product and International Diversification among Japanese Multinational Firms’, Strategic Management Journal 21(1): 51–80.Google Scholar
  57. Glass, G.V., McGaw, B. and Smith, M.L. (1981) Meta-Analysis in Social Research, Sage: Beverly Hills,CA.Google Scholar
  58. ∗Goerzen, A. and Beamish, P.W. (2003) ‘Geographic Scope and Multinational Enterprise Performance’, Strategic Management Journal 24(13): 1289–1306.Google Scholar
  59. ∗Gomes, L. and Ramaswamy, K. (1999) ‘An Empirical Examination of the Form of the Relationship between Multinationality and Performance’, Journal of International Business Studies 30(1): 173–187.Google Scholar
  60. ∗Gomez-Mejia, L.R. and Palich, L.E. (1997) ‘Cultural Diversity and the Performance of Multinational Firms’, Journal of International Business Studies 28(2): 309–335.Google Scholar
  61. ∗Grant, R.M. (1987) ‘Multinationality and Performance among British Manufacturing Companies’, Journal of International Business Studies 18(3): 79–89.Google Scholar
  62. Grossman, G.M. and Helpman, E. (1994) ‘Endogenous Innovation in the Theory of Growth’, Journal of Economic Perspectives 8(1): 23–44.Google Scholar
  63. Haar, J. (1989) ‘A Comparative Analysis of the Profitability Performance of the Largest U.S., European and Japanese Multinational Enterprises’, Management International Review 29(3): 5–18.Google Scholar
  64. Hamel, G. (1991) ‘Competition for Competence and Inter-Partner Learning within International Strategic Alliances’, Strategic Management Journal 12(4): 83–103.CrossRefGoogle Scholar
  65. Hamel, G. and Prahalad, C.K. (1985) ‘Do You Really Have a Global Strategy?’ Harvard Business Review 63(4): 139–148.Google Scholar
  66. Han, K.C. and Lee, S.H. (1998) ‘Multinationality and Firm Performance’, Multinational Business Review 6(2): 63–70.Google Scholar
  67. Hansen, G.S. and Wernerfelt, B. (1989) ‘Determinants of Firm Performance: The Relative Importance of Economic and Organizational Factors’, Strategic Management Journal 10(5): 399–411.CrossRefGoogle Scholar
  68. Harrison, J.S., Hitt, M.A., Hoskisson, R.E. and Ireland, R.D. (1991) ‘Synergies and Post-Acquisition Performance: Differences versus Similarities in Resource Allocations’, Journal of Management 17(1): 173–190.CrossRefGoogle Scholar
  69. ∗Harveston, P.D., Kedia, B.L. and Francis, J.D. (1999) ‘MNE's Dependence on Foreign Operations and Performance: A Study of MNEs from the “Triad” Regions’, International Business Review 8(3): 293–307.Google Scholar
  70. Hedges, L.V. and Olkin, I. (1985) Statistical methods for meta-analysis. Academic Press: New York.Google Scholar
  71. Hennart, J.F. (1982) A Theory of Multinational Enterprise, The University of Michigan Press: Ann Arbor.Google Scholar
  72. Hennart, J.F. (2007) ‘The Theoretical Rationale for a Multinationality-Performance Relationship’, Management International Review 47(3): 423–452.CrossRefGoogle Scholar
  73. Hirschey, M. (1982) ‘Market Power and Foreign Involvement by U.S. Multinationals’ Review of Economics and Statistics 64: 343–346.CrossRefGoogle Scholar
  74. Hitt, M.A., Hoskisson, R.E., Ireland, R.D. and Harrison, J.S. (1991) ‘Are Acquisitions a Poison Pill for Innovation?’ Academy of Management Executive 5(4): 22–34.Google Scholar
  75. ∗Hitt, M.A., Hoskisson, R.E. and Kim, H. (1997) ‘International Diversification: Effects on Innovation and Firm Performance in Product-Diversified Firms’, Academy of Management Journal 40(4): 767–798.Google Scholar
  76. Hofstede, G. (1980) Culture´s Consequences: International Differences in Work-Related Values, Sage: Beverly Hills, CA.Google Scholar
  77. ∗Hsu, C.C. and Boggs, D.J. (2003) ‘Internationalization and Performance: Traditional Measures and Their Decomposition’, Multinational Business Review 11(3): 23–49.Google Scholar
  78. Hunter, J.E. and Schmidt, F.L. (1990) Methods of Meta-Analysis: Correcting Error and Bias in Research Findings, Sage: Newbury Park, CA.Google Scholar
  79. Hunter, J.E., Schmidt, F.L. and Jackson, G.B. (1982) Meta-Analysis: Cumulating Research Findings across Studies, Sage: Beverly Hills, CA.Google Scholar
  80. Hymer, S.H. (1976) The International Operations of National Firms: A Study of Foreign Direct Investment, MIT Press: Cambridge, MA.Google Scholar
  81. Johanson, J. and Vahlne, J.E. (1977) ‘The Internationalization Process of the Firm - a Model of Knowledge Development and Increasing Foreign Market Commitments’, Journal of International Business Studies 8(1): 23–32.CrossRefGoogle Scholar
  82. Jones, G.R. and Hill, C.W.L. (1988) ‘Transaction Cost Analysis of Strategic-Structure Choice’, Strategic Management Journal 9(2): 159–172.CrossRefGoogle Scholar
  83. Kaufmann, L. and Schneider, Y. (2004) ‘Intangibles: A Synthesis of Current Research’, Journal of Intellectual Capital 5(3): 366–388.CrossRefGoogle Scholar
  84. Kim, W.C., Hwang, P. and Burgers, W.P. (1989) ‘Global Diversification Strategy and Corporate Profit Performance’, Strategic Management Journal 10(1): 45–57.CrossRefGoogle Scholar
  85. Kim, W.C., Hwang, P. and Burgers, W.P. (1993) ‘Multinational´s Diversification and the Risk-Return Trade-Off’, Strategic Management Journal 14(4): 275–286.CrossRefGoogle Scholar
  86. Kim, W.S. and Lyn, E.O. (1986) ‘Excess Market Value, the Multinational Corporation, and Tobin's q- Ratio’, Journal of International Business Studies 17(1): 119–125.CrossRefGoogle Scholar
  87. King, D.R., Dalton, D.R., Daily, C.M. and Covin, J.G. (2004) ‘Meta-Analyses of Post-Acquisition Performance: Indications of Unidentified Moderators’, Strategic Management Journal 25(2): 187–200.CrossRefGoogle Scholar
  88. ∗Knight, G. (2000) ‘Entrepreneurship and Marketing Strategy: The SME under Globalization’, Journal of International Marketing 8(2): 12–32.Google Scholar
  89. Kogut, B. (1985) ‘Designing Global Strategies: Profiting from Organizational Flexibility’, Sloan Management Review 27(1): 27–38.Google Scholar
  90. Koslowsky, M. and Sagie, A. (1993) ‘On the Efficacy of Credibility Intervals as Indicators of Moderator Effects in Meta- Analytic Research’, Journal of Organizational Behavior 14(7): 695–699.CrossRefGoogle Scholar
  91. Kostova, T. and Zaheer, S. (1999) ‘Organizational Legitimacy under Conditions of Complexity: The Case of the Multinational Enterprise’, Academy of Management Review 24(1): 64–81.CrossRefGoogle Scholar
  92. Kotabe, M., Srinivasan, S.S. and Aulakh, P.S. (2002) ‘Multinationality and Firm Performance: The Moderating Role of R&D and Marketing Capabilities’, Journal of International Business Studies 33(1): 79–97.CrossRefGoogle Scholar
  93. Kumar, M.S. (1984) ‘Comparative Analysis of UK Domestic and International Firms’, Journal of Economic Studies 11(3): 26–42.CrossRefGoogle Scholar
  94. ∗Lu, J.W. and Beamish, P.W. (2001) ‘The Internationalization and Performance of SMEs’, Strategic Management Journal 22(6/7): 565–586.Google Scholar
  95. ∗Lu, J.W. and Beamish, P.W. (2004) ‘International Diversification and Firm Performance: The SCurve Hypothesis’, Academy of Management Journal 47(4): 598–609.Google Scholar
  96. Lumpkin, G.T. and Dess, G.G. (1996) ‘Clarifying the Entrepreneurial Orientation Construct and Linking It to Performance’, Academy of Management Review 21(1): 135–172.CrossRefGoogle Scholar
  97. Majocchi, A. and Zucchella, A. (2003) ‘Internationalization and Performance’, International Small Business Journal 21(3): 249–266.Google Scholar
  98. Mathur, I., Singh, M. and Gleason, K.C. (2001) ‘The Evidence from Canadian Firms on Multinational Diversification and Performance’, Quarterly Review of Economics & Finance 41(4): 561–578.CrossRefGoogle Scholar
  99. ∗Mauri, A.J. and Sambharya, R.B. (2001) ‘The Impact of Global Integration on MNE Performance: Evidence from Global Industries’, International Business Review 10(4): 441–454.Google Scholar
  100. McDougall, P.P. (1989) ‘International Versus Domestic Entrepreneurship: New Venture Strategic Behavior and Industry Structure’, Journal of Business Venturing 4(6): 387–400.CrossRefGoogle Scholar
  101. ∗McDougall, P.P. and Oviatt, B.M. (1996) ‘New Venture Internationalization, Strategic Change, and Performance: A Follow-up Study’, Journal of Business Venturing 11(1): 23–40.Google Scholar
  102. McGuinness, V.W. and Little, B. (1981) ‘The Impact of R&D Spending on the Foreign Sales of New Canadian Industrial Products’, Research Policy 10(1): 78–98.CrossRefGoogle Scholar
  103. Michel, A. and Shaked, I. (1986) ‘Multinational Corporations vs. Domestic Corporations: Financial Performance and Characteristics’, Journal of International Business Studies 17(3): 89–100.CrossRefGoogle Scholar
  104. Miller, A. and Camp, B. (1985) ‘Exploring Determinants of Success in Corporate Ventures’, Journal of Business Venturing 1(1): 87–105.CrossRefGoogle Scholar
  105. Mishra, C.S. and Gobeli, D.H. (1998) ‘Managerial Incentives, Internalization, and Market Valuation of Multinational Firms’, Journal of International Business Studies 29(3): 583–597.CrossRefGoogle Scholar
  106. Morck, R. and Yeung, B. (1991) ‘Why Investors Value Multinationality’, Journal of Business 64(2): 165–187.CrossRefGoogle Scholar
  107. Morck, R. and Yeung, B. (1998) Why Firms Diversify: Internalization Versus Agency Behavior, University of Michigan Business School: Ann Arbor, MI.Google Scholar
  108. Oviatt, B.M. and McDougall, P.P. (1994) ‘Toward a Theory of International New Ventures’, Journal of International Business Studies 25(1): 45–64.CrossRefGoogle Scholar
  109. Palepu, K. (1985) ‘Diversification Strategy, Profit Performance and the Entropy Measure’, Strategic Management Journal 6(3): 239–255.CrossRefGoogle Scholar
  110. Palich, L.E., Carini, G.R. and Seaman, S.L. (2000) ‘The Impact of Internationalization on the Diversification-Performance Relationship’, Journal of Business Research 48(1): 43–54.CrossRefGoogle Scholar
  111. Papadopoulos, N. and Denis, J.E. (1988) ‘Inventory, Taxonomy and Assessment of Methods for International Market Selection’, International Marketing Review 5(3): 38–51.CrossRefGoogle Scholar
  112. Penrose, E.T. (1959) The Theory of the Growth of the Firm, Blackwell: Oxford.Google Scholar
  113. Petitti, D.B. (2000) Meta-Analysis, Decision Analysis, and Cost-Effectiveness Analysis: Methods for Quantitative Synthesis in Medicine, 2nd ed, Oxford University Press: New York.Google Scholar
  114. Porter, M.E. (1985) Competitive Advantage: Creating and Sustaining Superior Performance, Free Press: New York.Google Scholar
  115. Powell, T.C. (1996) ‘How Much Does Industry Matter? An Alternative Empirical Test’, Strategic Management Journal 17(4): 323–334.CrossRefGoogle Scholar
  116. Qian, G. (1996) ‘The Effect of Multinationality upon the Risk-Return Performance of US Firms’, International Business Review 5(3): 247–265.Google Scholar
  117. ∗Qian, G. (2002) ‘Multinationality, Product Diversification, and Profitability of Emerging US Smalland Medium-Sized Enterprises’, Journal of Business Venturing 17(6): 611–633.Google Scholar
  118. ∗Qian, G. and Li, J. (2002) ‘Multinationality, Global Market Diversification and Profitability among the Largest US Firms’, Journal of Business Research 55(4): 325–335.Google Scholar
  119. ∗Qian, G. and Li, J. (2003) ‘Profitability of Small- and Medium-Sized Enterprises in High-Tech Industries: The Case of the Biotechnology Industry’, Strategic Management Journal 24(9): 881–887.Google Scholar
  120. Ramaswamy, K. (1992) ‘Multinationality and Performance: A Synthesis and Redirection’, Advances in International Comparative Management 7: 241–267.Google Scholar
  121. Ramirez-Aleson, M. and Espitia-Escuer, M.A. (2001) ‘The Effect of International Diversification Strategy on the Performance of Spanish-Based Firms During the Period 1991–1995’, Management International Review 41(3): 291–315.Google Scholar
  122. Reeb, D.M., Kwok, C.C.Y. and Baek, Y.H. (1998) ‘Systematic Risk of the Multinational Corporation’, Journal of International Business Studies 29(2): 263–279.CrossRefGoogle Scholar
  123. Reuber, A.R. and Fischer, E. (2002) ‘Foreign Sales and Small Firm Growth: The Moderating Role of the Management Team’, Entrepreneurship: Theory & Practice 27(1): 29–45.CrossRefGoogle Scholar
  124. Riahi-Belkaoui, A. (1996) ‘Internationalization, Diversification Strategy and Ownership Structure: Implications for French MNE Performance’, International Business Review 5: 367–376.CrossRefGoogle Scholar
  125. Riahi-Belkaoui, A. (1999) ‘The Degree of Internationalization and the Value of the Firm: Theory and Evidence’, Journal of International Accounting, Auditing & Taxation 8(1): 189–196.CrossRefGoogle Scholar
  126. Riahi-Belkaoui, A. and Allnajjar, F.K. (2002) ‘Multinationality as a Determinant of Earnings Persistence’, Managerial Finance 28(3): 83–96.CrossRefGoogle Scholar
  127. Ronen, S. and Shenkar, O. (1985) ‘Clustering Countries on Attitudinal Dimensions: A Review and Synthesis’, Academy of Management Review 10(3): 435–454.CrossRefGoogle Scholar
  128. Rosenthal, R. (1979) ‘The “File Drawer Problem” and Tolerance for Null Results’, Psychological Bulletin 86(3): 638–641.CrossRefGoogle Scholar
  129. Rosenthal, R. and DiMatteo, M.R. (2001) ‘Meta-Analysis: Recent Developments in Quantitative Methods for Literature Reviews’, Annual Review of Psychology 52(1): 59–82.CrossRefGoogle Scholar
  130. Roth, K. and O´Donnell, S. (1996) ‘Foreign Subsidiary Compensation Strategy: An Agency Theory Perspective’, Academy of Management Journal 39(3): 678–703.CrossRefGoogle Scholar
  131. Ruigrok, W., Amann, W. and Wagner, H. (2007) ‘The Internationalization-Performance Relationship at Swiss Firms: A Test of the S-Shape and Extreme Degrees of Internationalization’, Management International Review 47(3): 349–368.CrossRefGoogle Scholar
  132. ∗Ruigrok, W. and Wagner, H. (2003) ‘Internationalization and Performance: An Organizational Learning Perspective’, Management International Review 43(1): 63–83.Google Scholar
  133. Ruigrok, W., Wagner, H. and Amann, W. (2004) ‘The Form of the Internationalization-Performance Relationship: “Universal” or “Context Dependent”?’ Paper prepared for AIB/JIBS paper development workshop, Stockholm. Google Scholar
  134. Rumelt, R.P. (1974) Strategy, Structure and Economic Performance, Harvard University Press: Boston, MA.Google Scholar
  135. Sambharya, R.B. (1995) ‘The Combined Effect of International Diversification and Product Diversification Strategies on the Performance of U.S.-Based Multinational Corporations’, Management International Review 35(3): 197–218.Google Scholar
  136. Sapienza, H.J., Autio, E. and Zahra, S. (2003) ‘Effects of Internationalization on Young Firms’ Prospects for Survival and Growth', Academy of Management Proceedings: G1–7.Google Scholar
  137. Schmidt, F.L., Hunter, J.E. and Raju, N.S. (1988) ‘Validity Generalization and Situational Specifity: A Second Look at the 75% Rule and Fisher´s z Transformation’, Journal of Applied Psychology 73(4): 665–672.CrossRefGoogle Scholar
  138. Severn, A.K. and Laurence, M.M. (1974) ‘Direct Investment, Research Intensity, and Profitability’, Journal of Financial and Quantitative Analysis 29(2): 181–190.CrossRefGoogle Scholar
  139. Shrader, R. 1996 Influences on and Performance Implications of Internationalisation by Publicly Owned U.S. New Ventures: A Risk Taking Perspective. Doctoral dissertation, Georgia State University, Atlanta.Google Scholar
  140. Shuman, J.C. and Seeger, J.B. (1986) ‘The Theory and Practice of Strategic Management in Smaller Rapid Growth Companies’, American Journal of Small Business 11(1): 7–18.Google Scholar
  141. ∗Siddharthan, N.S. and Lall, S. (1982) ‘The Recent Growth of the Largest US Multinationals’, Oxford Bulletin of Economics and Statistics 44(1): 1–13.Google Scholar
  142. ∗Simmonds, P.G. and Lamont, B.T. (1996) ‘Product-Market/International Diversification and Corporate Performance’, The International Journal of Organizational Analysis 4(3): 252–267.Google Scholar
  143. Simon, H.A. (1955) Administrative Behavior: A Study of Decision-Making Processes in Administrative Organization, Macmillan: New York.Google Scholar
  144. Smith, K.G., Gannon, M.J., Grimm, C. and Mitchell, T.R. (1988) ‘Decision Making Behavior in Smaller Entrepreneurial and Larger Professionally Managed Firms’, Journal of Business Venturing 3(3): 223–232.CrossRefGoogle Scholar
  145. Stopford, J.M. and Wells, L.T. (1972) Managing the Multinational Enterprise: Organization of the Firm and Ownership of the Subsidiaries, Basic Books: New York.Google Scholar
  146. Sturman, M.C. (2003) ‘Searching for the Inverted U-Shaped Relationship between Time and Performance: Meta-Analyses of the Experience/Performance, Tenure/Performance, and Age/Performance Relationships’, Journal of Management 29(5): 609–640.Google Scholar
  147. Sull, D. (1999) ‘Why Good Companies Go Bad’, Harvard Business Review 77(1): 42–56.Google Scholar
  148. Sullivan, D. (1994) ‘Measuring the Degree of Internationalization of a Firm’, Journal of International Business Studies 25(2): 325–342.CrossRefGoogle Scholar
  149. Sundaram, A.K. and Black, J.S. (1992) ‘The Environment and Internal Organization of Multinational Enterprises’, Academy of Management Review 17(4): 729–757.CrossRefGoogle Scholar
  150. Tallman, S. and Li, J. (1996) ‘Effects of International Diversity and Product Diversity on the Performance of Multinational Firms’, Academy of Management Journal 39(1): 179–196.Google Scholar
  151. Teece, D.J. (1977) ‘Technology Transfer by Multinational Firms: The Resource Cost of Transferring Technological Know-How’, Economic Journal 87(3): 242–261.CrossRefGoogle Scholar
  152. Thornhill, S. and Amit, R. (2003) ‘Learning About Failure: Bankruptcy, Firm Age, and the Resource- Based View’, Organization Science 14(5): 497–509.CrossRefGoogle Scholar
  153. Tihanyi, L., Ellstrand, A.E., Daily, C.M. and Dalton, D.R. (2000) ‘Composition of the Top Management Team and Firm International Diversification’, Journal of Management 26(6): 1157–1177.CrossRefGoogle Scholar
  154. UNCTAD (2004) United Nations Conference on Trade and Development, World Investment Report 2004: The Shift Towards Services, United Nations: New York & Geneva.Google Scholar
  155. Vachani, S. (1991) ‘Distinguishing between Related and Unrelated International Geographic Diversification: A Comprehensive Measure of Global Diversification’, Journal of International Business Studies 22(2): 307–322.CrossRefGoogle Scholar
  156. Vermeulen, F. and Barkema, H. (2002) ‘Pace, Rhythm, and Scope: Process Dependence in Building a Profitable Multinational Corporation’, Strategic Management Journal 23(7): 637–653.CrossRefGoogle Scholar
  157. Vernon, R. (1971) Sovereignty at Bay: The Multinational Spread of U.S. Enterprises, Basic Books: New York.Google Scholar
  158. Wagner, H. 2001 Towards a Contingency Theory on the Internationalization-Performance Relationship: Four Complementary Essays. Doctoral dissertation, University St. Gallen.Google Scholar
  159. ∗Wan, C.C. (1998) ‘International Diversification, Industrial Diversification and Firm Performance in Hong Kong MNCs’, Asia Pacific Journal of Management 15(2): 205–217.Google Scholar
  160. ∗Wan, W.P. and Hoskisson, R.E. (2003) ‘Home Country Environments, Corporate Diversification Strategies, and Firm Performance’, Academy of Management Journal 46(1): 27–45.Google Scholar
  161. Wernerfelt, B. (1984) ‘A Resource-Based View of the Firm’, Strategic Management Journal 5(2): 171–180.CrossRefGoogle Scholar
  162. Westhead, P., Wright, M. and Ucbasaran, D. (2001) ‘The Internationalization of New and Small Firms: A Resource-Based View’, Journal of Business Venturing 16: 333–358.CrossRefGoogle Scholar
  163. Whitener, E.M. (1990) ‘Confusion of Confidence Intervals and Credibility Intervals in Meta-Analysis’, Journal of Applied Psychology 75(3): 315–321.CrossRefGoogle Scholar
  164. Williamson, O.E. (1975) Markets and Hierarchies: Analysis and Antitrust Implications, Free Press: New York.Google Scholar
  165. Wolf, F.M. (1986) Meta-Analysis: Quantitative Methods for Research Synthesis, Sage: Thousand Oaks, CA.Google Scholar
  166. Woodward, D.P. and Rolfe, R.J. (1993) ‘The Location of Export-Oriented Foreign Direct Investment in the Caribbean Basin’, Journal of International Business Studies 24(1): 121–144.CrossRefGoogle Scholar
  167. Zaheer, S. (1995) ‘Overcoming the Liability of Foreignness’, Academy of Management Journal 38(2): 341–363.CrossRefGoogle Scholar
  168. Zahra, S.A. (1996) ‘Governance, Ownership, and Corporate Entrepreneurship: The Moderating Impact of Industry Technological Opportunities’, Academy of Management Journal 39(6): 1713–1735.CrossRefGoogle Scholar
  169. ∗Zahra, S.A. and Garvis, D.M. (2000) ‘International Corporate Entrepreneurship and Firm Performance: The Moderating Effect of International Environmental Hostility’, Journal of Business Venturing 15(5/6): 469–492.Google Scholar
  170. ∗Zahra, S.A., Ireland, R.D. and Hitt, M.A. (2000) ‘International Expansion by New Venture Firms: International Diversity, Mode of Market Entry, Technological Learning, and Performance’, Academy of Management Journal 43(5): 925–950.Google Scholar
  171. Zhao, H., Luo, Y. and Suh, T. (2004) ‘Transaction Cost Determinants and Ownership-Based Entry Mode Choice: A Meta-Analytical Review’, Journal of International Business Studies 35(6): 524–544.CrossRefGoogle Scholar

Copyright information

© Gabler | GWV Fachverlage GmbH, Wiesbaden 2009

Authors and Affiliations

  • Mario Krist

There are no affiliations available

Personalised recommendations