Mike W. Peng's research while affiliated with University of Texas at Dallas and other places
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Publications (209)
Scholars have long suggested that CEOs can benefit from corporate philanthropy. However, little is known about this relationship in contexts of authoritarian capitalism such as China, where the state not only uses its control of economic entities to pursue social goals but also plays a key role in CEOs’ careers. We theorize how corporate philanthro...
Research and development (R&D) capabilities generally enable firms to export more. Left underexplored is the question: Does the positive relationship between R&D and exports hold during institutional transitions, which are fundamental and comprehensive changes introduced to the rules of the game? Among India's wide‐ranging market‐oriented instituti...
![Geographic coverage of the institution-based view literature. [Sources]...](publication/365949141/figure/fig2/AS:11431281104371076@1670036305284/Geographic-coverage-of-the-institution-based-view-literature-Sources-Panel-A-522_Q320.jpg)
![The institution-based view: A family (tree). [Note] Due to space...](publication/365949141/figure/fig3/AS:11431281104371077@1670036305441/The-institution-based-view-A-family-treeNote-Due-to-space-constraints-the_Q320.jpg)
As part of the broader intellectual movement throughout the social sciences that is centered on new institutionalism, the institution-based view has emerged as a leading perspective in the strategic management literature. This article (1) traces the emergence of the institution-based view, (2) reviews its growth in the last two decades, and (3) res...
How do social entrepreneurship organisations sustain and innovate to serve base-of-the-pyramid populations in emerging economies? This paper delves into the strategies and processes employed by social entrepreneurship organisations to create both social and economic value via frugal innovation approaches combining cost-effective value creation and...
The manager is often neglected in management scholarship. Although we are not the first to call for renewed attention to managers, given the rapidly evolving state of the environment in which firms operate, it seems an apropos moment to reflect on the importance of managers and remind ourselves to incorporate them into our ideas, relationships, and...
How can state‐owned enterprises (SOEs) become more innovative in emerging economies where market competition emerges and state socialism remains? Rooted in a state socialism logic that traditionally prioritizes central planning, SOEs are increasingly challenged by a market competition logic espousing efficiency and innovation. We posit that the cha...
This study examines the role of intellectual property rights (IPR) protection in total factor productivity (TFP) in countries developed at different levels. By undertaking two tests using data of 1,696 observations across 95 countries during 2001–2018 and data of 906 observations covering 87 countries in the 1965–2015 period, we find that the linka...
Are COVID-19 spread and mortality related to different countries’ government mobility restriction policies, democratic institutions, and cultural norms? Leveraging data from 140 countries, we find that policy, institutions, and vulnerabilities interact to determine pandemic spread and mortality. A delay in restricting international mobility increas...
Relations between US and Chinese corporations are increasingly strained. We examine how differences in the key domains of corporate governance, underlying corporate philosophy, innovation, and dispute resolution contribute to this strained relationship. We illustrate these differences by examining the relations between Skyworks Solutions (US) and Z...
How do political ties of the board directors influence firm internationalization? Board political ties have both the buffering effect (beneficial) and the binding effect (generating costs and obligations towards the government) in emerging economies where firms may strongly depend on the government. We propose that these two effects may coexist in...
This article first identifies two gaps in the literature: (1) the need to expand international market entry research beyond contractual modes of “make, buy, and ally;” and (2) the need to address the imbalance in the institution-based view that has paid inadequate attention to informal institutions. To help close the two gaps, we identify reciproci...
Joint ventures (JV) often do not create expected value due to power imbalance between partners. Despite the fact that JV partners are embedded in relational constraints, prior research has largely relied on economic reasoning by focusing on equity ownership difference between JV partners as the main source of power imbalance. We extend prior resear...
Integrating the institution-based view and the resource-based view, this article explores the contingent effects of national institutions and firm resource bases on the relationships between strategic orientations—i.e., entrepreneurial orientation (EO) and market orientation (MO)—and firm performance. This is accomplished through a meta-analysis of...
Purpose
The purpose of this paper is to examine an important yet underexplored research question in the literature: What determines the length of contract governing buyer–supplier relationships during market transitions? The length of contract is a solid indicator of the comprehensiveness of a contract. By integrating transaction costs economics, t...
Research Summary
We review and synthesize the growing literature concerning the internationalization of small and medium‐sized family enterprises (family SMEs) around a strategy tripod framework. In doing so, we identify various resource‐based, institution‐based, and industry‐based factors that contribute to family SME internationalization endeavor...
Focusing on the global diffusion of the “A” list consisting of predominantly U.S.-based journals, we argue that such diffusion represents an important form of professionalization in the management of business schools. The diffusion can also be viewed as an intellectual movement in the age of global competition characterized by a flat world. How can...
The growth of outward foreign direct investment from emerging markets has led to increased scholarly attention on the internationalization of emerging market firms (EMFs). We break from the recent strategic approach on internationalizing EMFs to develop a problematization approach, which permits us to introduce a geographic relational perspective....
Is there a compensation gap between female CEOs (She’-E-Os) and male CEOs? If so, are there mechanisms to mitigate the compensation gap? Extending role congruity theory, we argue that the perception mismatch between the female gender role (that assumes communal traits) and the leadership role (that assumes agentic traits) may lead to lower compensa...
Extending the proposition that boards of directors influence firms’ mergers and acquisitions (M&As), studies have investigated how board interlocks – network ties formed by directors — may shape M&A processes and outcomes. While board interlocks and M&As are two streams of research, each underpinned by voluminous studies, their cross-fertilization...
This paper has been corrected owing to typographical errors in Table 1 and Table 2. The corrected tables are reproduced below.
RESEARCH SUMMARY
We develop an institutional explanation for the finding that the competitive advantage publicly‐listed family firms (PFFs) enjoy over other publicly‐listed firms varies across emerging markets. We propose that PFF performance is contingent on the state of four types of institutions – formal constraining, informal constraining, form...
We examine the effect of corruption and institutions on inward foreign direct investment (FDI) along different investment phases in host countries. We contribute to the literature by distinguishing the propensity and the stock of FDI to better clarify the relationship between corruption and FDI, and by substantiating an integrated formal and inform...
Management scholarly communities have recently emerged in Asia and Africa. What are the antecedents behind their rise? What are the processes that facilitate their acceptance by internal and external stakeholders? Drawing on the sociology of science literature, this article develops a model behind the emergence of management scholarly communities u...
Starting with Peng and Heath (Academy of Management Review, 21: 492–528, 1996), the growth of the firm in emerging economies (EE) has received increasing attention in the literature in the last two decades. This line of research has not only extended our knowledge on firms’ strategic choices to the context of EE, but also proposed new perspectives...
What critical characteristics do firms have that determine the scale and scope of corporate social responsibility activities they undertake? This paper examines two disparate predictors of corporate social performance. First, using the lens of the resource-based view, we examine the role of alliance network centrality on corporate social performanc...
Language is increasingly recognized as having the ability to shape strategic outcomes. To understand language’s impact in entrepreneurial settings, we study language in the context of foreign initial public offerings, a setting where organizations may suffer from both the liabilities of newness and foreignness. Our sample consists of the population...
Drawing on the home country literature, we argue that firms headquartered or located in countries with strong labor protection may face challenges in their domestic operations. These firms are likely to initiate offshoring to enhance operational efficiency. Building on this argument, we also examine the boundary conditions moderating this proposed...
This article sketches the contours of an institution-based view of family ownership and control in large firms, with a focus on institutional roots, institutional relatedness, and institutional transitions. The institution-based view brings considerable continuity to family-firm research. It also offers significant novelty in helping resolve some p...
How has the impact of ‘good corporate governance' principles on firm performance changed over time in China? Amassing a database of 84 studies, 684 effect sizes, and 547,622 firm observations, we explore this important question by conducting a meta-analysis on the corporate governance literature in China. The weight of evidence demonstrates that tw...
Previous diversification research has largely focused on product relatedness, but ignored institutional relatedness—the degree of informal embeddedness with the dominant institutions that confer resources and legitimacy. We argue that during institutional transitions, political ties and international experience represent different types of institut...
This article responds to recent calls for organizational research to address larger, more globally relevant questions and to pay attention to history, by analyzing the crucial debate over intellectual property rights (IPR) between the United States and China. Despite the recent US position, the United States has not always been a leading IPR advoca...
Leveraging the use of history to advance international business research, this article focuses on the crucial debate over intellectual property rights (IPR) between the United States and China. Ironically, during the 19th century the United States was not a leading IPR advocate as it is today, but was a leading IPR violator. Developing an instituti...
How do home country institutions influence cross-border postacquisition performance? We develop an institutional framework showing that informal and formal institutions not only have important individual effects but also work together in complex and interesting ways. While collectivism and humane orientation (two major informal institutions) can fa...
Why do firms evade taxes? We tackle this question by studying firms in the formal sector operating in countries with different institutional backgrounds, and comparing the incentives and constraints of staying within the formal sector against the competitive pressures originating from the informal sector. We argue that it is the combination of thes...
Proxy advisors are information intermediaries that enable shareholders to exercise their voting rights. While proxy advisors’ influence is documented in market-based corporate governance systems, we know little about the corporate governance role of proxy advice in relationship-based governance systems. Drawing on agency theory and the comparative...
Extending the literature on institutional voids, we introduce theory from law that highlights the ability of firms to choose the laws and enforcement mechanisms that govern their international joint ventures (IJVs). Specifically, firms may overcome institutional voids by borrowing institutions via binding international commercial arbitration (BICA)...
Research on the business-environment dilemma has traditionally focused on strategies based on isolated, either/or mindsets, such as economically-oriented and environmentally-oriented strategies. Drawing on the cultural, philosophical, and intellectual traditions of China, we sketch the contours of a new holism-based strategic mindset, which results...
State-owned enterprises (SOEs) contribute approximately 10% of the world’s GDP. SOEs at one time were predicted to disappear from the economic landscape of the world, but today SOEs are growing more prevalent in the world economy. The current theories of the firm that form the pillars of the management discipline largely ignore the theoretical diff...
The university technology transfer (UTT) allows universities to extract benefits from their research. As enterprises embedded in both academic- and commercially-oriented activities, universities face great opportunities and challenges in changing environments that call for a more flexible, dynamic stance of university-level processes. We examine ho...
Traditional political risk theories often focus on a developing host country government's ability to intervene in the activities of foreign multinationals in the extractive or infrastructure sectors. This results in inadequate understanding of (a) how a government's motivation to intervene is influenced by the broader societal context, (b) the impo...
Drawing on the resource-based view and the behavioral theory of the firm, we examine how resources and aspirations affect rapid internationalization of firms from emerging economies. Using a 5-year panel from 257 publicly listed manufacturing firms from China, we find that neither technological resources nor marketing resources—two knowledge-based...
How do the three dimensions of geographic export diversification—namely, (1) export intensity, (2) export scope, and (3) export destinations—interact in determining firm performance? How does the export intensity–performance relationship change considering export scope and destinations? Drawing on institution-based and resource-based lenses, we arg...
In "Probing Theoretically into Central and Eastern Europe: Transactions, Resources, and Institutions," we outlined the contributions of research in Central and Eastern Europe (CEE) to theoretical debates in business research. In this retrospective, we reflect upon the evolution of the field over the past decade. With the fading impact of CEE's dist...
Although numerous studies analyze mergers and acquisitions (M&As) in and out of developed economies (DE), a much smaller number of studies focus on M&As in and out of emerging economies (EE). Since there are significant differences in institutional environments, corporate governance practices, and markets between DE and EE, existing knowledge on ac...
The corporate governance literature identifies two major governance models. The first is based on equity finance, controlled by capital markets, and mostly seen in common law system countries such as the United Kingdom and the United States. The second is based on debt finance, controlled by financial institutions, and mostly seen in continental Eu...
Drawing on the strategy tripod perspective, in this study we examine how the performance effect of knowledge creation capability is contingent on key industrial and institutional variables. We find that technological turbulence, competitive intensity and government support all positively moderate the relationship between knowledge creation capabili...
Transition economies have become a new frontier for multinational enterprises (MNEs). This has introduced a highly dynamic competitive environment for domestic firms operating with such less developed institutions, especially those facing the threat of MNEs with superior capabilities. Drawing on the awareness-motivation-capability framework from th...
While voluminous research has focused on the impact of host country institutions on foreign entrants, the rise of outward internationalization of firms from emerging economies is challenging this research stream. Limited work has been done to investigate a crucial question: How do home country institutions influence firms from emerging economies to...
While management research has made significant progress in globalization its research, African organizations have remained a missing link. We argue that African-focused management research may address the major problem of organizational effectiveness through work on the two major theoretical building blocks, institutions and resources. Building a m...
Purpose
– This paper aims to explore the interlock-performance relationship among mainland Chinese firms listed in Hong Kong by taking advantage of a relationship-intensive context whereby such a link is likely to be especially important. Although strategic networks such as interlocking directorates have been found to affect a number of strategic b...
Prior research on strategic alliances has provided mixed findings regarding performance implications of power imbalance between a firm and its alliance partners. Drawing on the alliance literature and status theory, this study suggests that such power imbalance can be multidimensional in nature and manifested through ownership control, institutiona...
This study explores how subnational differences in a large emerging economy can moderate the relationship between research and development (R&D) and firm performance. Using a sample of Russian firms, we find that subnational institutional development significantly alters the R&D-performance link. Specifically, we find that this relationship is more...
Based on the resource-based view, we propose that external diversity practices such as supplier diversity may affect firm performance. We find that the relationship between supplier diversity and short-term performance (i.e. productivity) is moderated by context such that firms in declining industries experience positive productivity effects while...
What signals do firms in emerging economies send to stakeholders when they adopt corporate social responsibility (CSR) practices? We argue that in emerging economies, firms that adopt CSR practices positively signal investors that their firms have superior capabilities for filling institutional voids. From an institution-based view, we hypothesize...
This study explores subnational differences in Russia and how they can change the effects of institutions on firm strategies. Drawing on institutional theory and institutional transitions perspectives, we show that firms’ propensity to use market-based strategies is affected by the quality of the development of market institutions in different subn...
Firms appoint CEOs with different types of human capital in order to manage resource dependencies. How CEOs are compensated thus can be conceptualized as a valuation process of how boards view the value of CEOs’ human capital. Two types of human capital—international experience and political ties—have emerged as potential drivers of CEO compensatio...
Excess CEO returns refer to CEO financial returns in excess of shareholder returns. How do boards rein in excess CEO returns? Introducing a social capital view of board monitoring, we suggest that boards face two competing normative pressures—corporate elite norms and monitoring norms. How boards conform to such normative pressures for controlling...
This paper points out new directions for the deepening and broadening of the institution-based view, by drawing on three streams of research with which I have been involved recently: (1) outward foreign direct investment from emerging economies, (2) bankruptcy laws and entrepreneurship development, and (3) institution-based research focusing on Afr...
State-owned enterprises represent approximately 10% of global gross domestic product. Yet they remain relatively underexplored by management scholars. Firms have often been viewed dichotomously as either state owned or privately owned. Today, however, we encourage a more nuanced view of state-owned enterprises as hybrid organizations, in which the...
While management research has made significant progress in globalizing its reach, African organizations have remained a missing link. We argue that Africa-focused management research may address the major problem of organizational effectiveness through work on the two major theoretical building blocks: institutions and resources. Building a model o...
Partner selection is a critical issue in building international joint ventures (IJVs). We argue that foreign firms are more likely to select local firms with unique network structural advantages within a local alliance network. We frame structural advantages as two network position traits: centrality and brokerage. Specifically, network centrality...
This paper sketches the contours of a theory of entrepreneurship focusing on the nature of entrepreneurship as intermediation under information asymmetries. While entrepreneurship, strategy, and finance researchers have studied the relationship between entrepreneurs and intermediaries, they tend to treat intermediaries, such as venture capitalists,...
“What determines the scope of the firm?” is one of the most fundamental questions in strategic management and international business. Yet no previous research has investigated the relationship between the scope of the firm and cross-listing—a firm listing its stock on overseas exchanges. We leverage the resource-based and institution-based views wi...
Focusing on supplier selection, this article addresses two questions: (1) What are the antecedents that lead to the adoption of various types of selection strategies? (2) What impact do these strategies have on supplier performance? We build a research model showing how both the uncertainty-based and resource-based views drive market-focused and re...
How do boards rein in excess CEO pay, i.e., compensation above that of industry peers? By introducing a social capital view of CEO compensation, we suggest that the board’s external and internal social capital are important yet often ignored concepts that may affect the board’s ability to keep excess CEO pay under control. Further, we bridge the bo...
A firm's structural position within corporate networks may affect the extent to which it engages in boundary stretching practices. Since social norms support low CEO compensation, offering high CEO compensation in China can be seen as a boundary stretching practice. Setting up a compensation committee (CC) may be viewed as a form of symbolic manage...
This paper revisits and extends our earlier work (in 2005) in the pages of this journal. We argue that there is a need for more fine‐grained understanding of the country context along two dimensions: (1) institutional development and (2) infrastructure and factor market development. Specifically, we propose an enriched typology of emerging economie...
What drives new ventures to internationalize from emerging economies to developed economies? To answer this underexplored question, we bring together theory at the intersection of international entrepreneurship and strategy in emerging economies. Focusing on intangible resources, we theorize that international expansion of new ventures from emergin...