A retrospective on: Institutional, cultural and transaction cost influences on …

Keith D Brouthers
Journal of International Business Studies (2013) 44, 14–22

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摘要

• 基于交易成本理论的进入模式选择：review past research exploring transaction cost and institutional perspectives of mode choice, provide a critique of this literature, and generate suggestions to move our knowledge forward.
• 进入模式的表现：In addition, I review the limited research exploring entry mode performance, and emphasize the importance of examining the normative merits of proposed theoretical models.

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引言

Brouthers (2002)的两大部分 When I first began working on Brouthers (2002) I was concerned with expanding our knowledge in two specific areas: the link between entry mode choice and performance, and the influence of other factors, especially country differences, on a traditional transaction cost entry mode choice model.

制度的调节效应 Although Brouthers (2002) made a number of advances, there are some shortcomings. The most important shortcoming in my mind is that this study, and other studies of this type, fails to consider(either theoretically or empirically) the moderating impact of institutional distance on transaction cost economic (TCE) factors. That is, these studies look at the direct impact of TCE and institutional variables on the mode choice decision, but fail to explore how differences in institutions might impact the trans-action costs created from factors such as asset specificity or behavioral uncertainties （不同制度对交易成本的具体调节效应尚待进一步研究）.

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后续研究

1.关注于进入模式的选择与performance、2.进入模式选择下，交易成本理论的拓展 Currently there are a number of excellent reviews of the entry mode literature (Brouthers & Hennart, 2007;Morschett, Schramm-Klein, & Swoboda, 2010;Tihanyi, Griffith, & Russell, 2005; Zhao, Luo, &Suh, 2004). In this section I will focus on research that addresses the same issues I tried to address in the Brouthers (2002) paper, linking mode choice to performance and improving transaction cost models of mode choice by adding insights from other theories such as institutional theory.

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Mode Choice and Performance

1. but these studies fail to take into account the alignment of mode choice with any decision-making models: thus these studies ignore the endogeneity issue.(e.g., Woodcock, Beamish, & Makino,1994)

2. Shaver (1998) first identified and explored this problem while looking at establishment mode choice (the choice between wholly owned greenfield ventures and acquisitions) and subsidiary survival.

3. Brouthers, Brouthers, and Werner (1999) used a different technique to look at entry mode choice using Dunning’s Eclectic frame-work, and at how alignment with theoretically predicted modes leads to superior subsidiary performance.

Since then, a number of other studies have added to our knowledge of the consequences of mode choice decisions by exploring the performance impact of theory-driven mode choice models.

• Brouthers, Brouthers, and Werner (2003) and Chenand Hu (2002) test transaction cost models of mode choice and performance. Brouthers, Brouthers, and
• Werner (2008b) extend these ideas by combining transaction cost and real option theories to look at mode choice and performance. In addition,
• Broutherset al. (2008a) look at mode choice performance using the resource-based view and institutional theory.

All these studies confirm the findings of Brouthers (2002): firms using modechoices that align with theory perform better.

research is required, adding to our knowledge by using better measures of performance,
providing theoretical links between mode choice and non-financial performance, and
research on other, non-entry mode decisions would also benefit from looking at the performance consequences of the models employed.

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TCE Mode Choice and Institutional Theory

将制度因素引入交易成本理论，对制度理论的探讨。

拓展制度距离的定义，相应维度的度量方法 More recently, scholars have added to our knowledge of TCE and institutional theory mode choice by expanding the definition of institutional distance and exploring new measures for these dimensions.

Meyer and Nguyen (2005) look at subnational institutions instead of the traditional national-level affects. Berry, Guillen, and Zhou (2010) develop several new measures of institutional distance, as well as recommending a new method of calculating distance. When they add these new items to a transaction cost model of mode choice, they note that these new distance measures(and method) are significantly related to mode choice. Dow and Ferencikova (2010) likewise use a new five-item measure of institutional distance based on Dow and Karunaratna (2006), and add that to a transaction cost model.

对制度环境的构成及度量仍存在分歧 Despite this progress, there is little agreement on what factors make up the institutional environment or how to measure it.

　Berry et al.(2010) look at a wide range of distance measures,which include some traditional institutional measures as well as others. Dow and Karunaratna (2006)also provide a wide range of distance measures,which they categorize as psychic distance. Many scholars include other measures of the three pillars of the institutional environment described by North (1990) and Scott (1995).

• One direction this research needs to take is in creating agreement among scholars as to what does and does not constitute a firm’s institutional environment. Of course,this might vary according to the decision or issue being examined.
• Another direction is to build on Berry et al.’s (2010) methodological suggestion for calculating distance; is this new method superior to the current method? Only then can more accurate measures of these phenomena be generated and new analyses run to see whether prior findings still hold when better measures are employed.

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TCE Mode Choice and Other Perspectives

基于非制度理论的视角

• Hennart (2009) provides an extension to TCE theory suggesting that local assets as well as firm-specific assets be considered. He suggests that mode choice studies need to consider the target market firm, because that firm controls local assets,and how that firm impacts on transaction costs.Brouthers et al. (2008b) add a real options perspective to a traditional transaction cost model, providing a more dynamic understanding of mode choice and value creation. Chen and Hennart (2002) and Delios and Henisz (2000) add important capabilities concepts to TCE mode choice decision models.Slangen and van Tulder (2009) introduce the concept of foreign market governance quality and transaction costs in mode choice.

• Several resource-based studies also explore foreign market mode choice (Brouthers et al., 2008a;Meyer et al., 2009) but fail to integrate the RBV fully with existing transaction cost concepts.

• Future research might add to our knowledge by combining these theories and explaining their often conflicting predictions, and how firms resolve these conflicts when making mode choice decisions.

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未来研究方向

1. The first task ahead is in determining what factors make up the institutional environment. Only then can we start to measure these items.

   North (1990), for example, conceptualizes the environment as having both informal and formal components, while Scott (1995) describes three pillars of the institutional environment: regulative, normative, and cognitive.

   Yet not every institutional factor will impact one very decision.

   For example, if a firm is deciding to take a pay-for-performance program abroad it will be concerned with very different institutional factors than a firm deciding whether to use its branded products in a foreign market.

2. One way to unpack these institutional items and examine context-specific environments might be to start developing perceptual measures of the institutional environment.

   根据特定问题，选取制度环境中不同因素（some parts of the institutional environment will be more important to some decisions than other. ） Hence researchers need to work toward developing an agreed set of features that describe the institutional environment for the decision (such as the entry mode decision) being considered.

3. measure these items.

   度量存在狭隘的问题，一个维度应考虑多种因素（再因子分析归纳） Scholars in comparative management have been doing this for many years, providing detailed analysis of different components of the institutional environment (Jackson & Deeg, 2008).Simplifying these components into one or two narrow constructs fails to capture fully the institutional factors that influence firm success.

   　Henisz’s (2000) political constraints measure is a good example. This measure has been used in a number of studies (e.g., Delios & Henisz, 2000;Martin, Salomon, & Wu, 2010). It does a good job of looking at differences in the ability of governments to make changes in regulations. However, it tells us nothing about government attitudes toward foreign firms,

4. I believe perceptual measures provide a better means of capturing these context-specific dimensions of the institutional environment.

   不足 shortcomings. [1] Several of these measures were based on responses to only one question: thus I did not capture the broad range of institutional factors as described by North (1990)or Scott (1995) that can impact on the success of foreign market entry. [2] I also did not develop a good measure of the normative dimension, ignoring an important component of the environment.

   Future studies could make important contributions by helping to clearly define the features of the institutional environment for the phenomena being explored (FDI, entry mode, establishment mode, manufacturing, sales, etc.) and develop primary measures of these characteristics that more accurately and broadly capture the underlying values and beliefs.While secondary measures are convenient and replicable, they often fail to capture the subtleties related to managerial actions and firm operations.

5. future studies need to deal with is in aligning measures of the institutional environment more closely with the issue being addressed in the particular study.

6. researchers may need to measure both the perceived institutional distance and the actual distance to truly understand mode performance, instead of simply looking at theory-driven vs non-theory-driven decision outcomes.

7. Most papers look at technological assets specificity or marketing asset specificity, but other forms of specificity – such as human resource, dedicated asset, temporal, or goodwill asset specificity – may also influence a firm’s ability to rely on markets or hierarchies.Expanding TCE studies to look at more asset-specificity dimensions will again help us improve our knowledge.

8. In addition, combining insights from transaction cost theory with other perspectives can also shed light on factors that influence entry mode choice and firm performance. Future studies can look at these issues, and develop and test theory to explore the joint impact of TCE and RBV factors.

9. There have also been several studies looking at the influence of the top management team and board of directors on mode choice.

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结论

I hope this paper and others I have written help contribute to our knowledge of the international strategies that firms can use to improve performance. Whether it is deciding on what markets to enter, what structures or modes to use, how to export most effectively, or how to manage foreign subsidiaries once established, these critically important strategies have significant performance consequences. Further research is needed in all these areas to improve our understanding of what works, where, and why. The objective is the same: providing empirically backed recommendations to managers that will allow them to better manage foreign market operations and improve overall business effectiveness.