China is the largest emerging market in the world, yet Western MNCs have invested significantly less there than their Asian MNC counterparts. Luo systematically compares Western and Asian investment strategies and their performance in China and draws lessons that Westerners must heed. He compares Western and Asian MNCs on their respective economic rationales, cultural proximity, strategy behavior, investment structure, business determinants, and performance differences. He also reviews foreign direct investment in China over two decades, outlines the economic environment facing MNCs today, delineates new policies that affect foreign investment and operations, and discusses China's entry into the World Trade Organization and the impact this will have on MNCs everywhere. The result is a needed contribution to the literature on international investment and the China market, particularly for upper level executives, analysts studying emerging markets, and scholars specializing in international business and expansion.

In Part I, Luo reviews the experience of MNCs in China and the opportunities and challenges, today and in coming years. In Part II he looks at the strategy, structure, and performances of Western and Asian MNCs. He assesses and compares strategic and structural behaviors of these two groups of MNCs, then deciphers and compares the differences in distinctive capabilities and their performance implications. In other chapters he examines and compares financial performance and its business determinants--thus giving executives of Western MNCs a way to verify the effectiveness of their own investment and operating strategies and to reconfigure them, if necessary, to include environmental dynamics and organizational capabilities. In addition to mini-cases throughout the book, there is an appendix consisting of six major case studies, detailing the experiences and successes of six Asian MNCs in China, offering a seldom seen glimpse of how the West's Asian competitors accomplish their own goals, and why the challenges they present to the West are so formidable.

Globalization provides firms with tremendous opportunities as well as daunting challenges. International expansion has become a pervasive and prominent strategic response to global economic dynamics for a large number of companies. The success of such expansion depends on several of entry and cooperative strategies. Dr. Luo provides conceptual backgrounds, analytical frameworks, managerial insights, and business guidance for a firM's international expansion efforts. He illustrates how (entry mode), when (timing), where (location), and what (industry). He elaborates on cooperative strategies such as partner selection, joint venture negotiation, control, cooperation, and termination.

The book is written for international executives who are actively pursuing international market opportunities. It argues that managers need to formulate appropriate expansion strategies to achieve a sustainable and successful presence in the global marketplace. The book is also valuable for students and scholars of international business, global management, and strategic management.

As part of the new Routledge series on Global HRM, this new title considers the growing importance of cross-border alliances, in particular international joint ventures, mergers and acquisitions, which is currently a major business issue. Providing a detailed analysis of various aspects of alliances, including learning acquisition, the HR implications of mergers and the role of cooperation and trust in such alliances, this book fills a vital gap in current literature. Featuring case studies and other added value features, this is an essential text for students of HRM, international and strategic management, as well as for HR professionals.

This fully revised and updated fourth edition of International Business offers an action- focused, practical approach to the topic, helping students understand the global business environment and its repercussions for executives. The book provides thorough coverage, delving into fundamental concepts and theory; the cultural, political, and economic environment; international business strategies; and even functional management areas.

More comprehensive than competing books, this new edition of International Business includes:

A new chapter on the digitalization of the global economy and its implications for firm strategy and organizations.

New examinations of the forces of de- globalization, implications of rising trade protectionism, challenges of geopolitical conflicts, and a friction framework for understanding the effects of cultural differences.

Enriched and expanded discussions about potential reconfigurations of global value chains following the COVID- 19 pandemic, changing perspectives on the role of the government with renewed attention to industrial policy, shifts in regional integration with the emergence of such new trade blocks as CPTPP and RCEP, and fresh insights on factors influencing a country’s balance of payments.

Strengthened, expanded global cases, examples, and “industry” and “country” mini- cases that give students practical insight into the ways companies actually behave within a competitive, global environment.

Also featuring a companion website with a test bank, PowerPoint slides, and instructor’s manual, this book is ideal for students and instructors of any international business course at undergraduate or postgraduate level.

Table of Contents

International Business in an Age of Globalization Part I: Concepts and Theories in International Business 2. International Trade Theory and Application 3. Foreign Direct Investment Theory and Application 4. The Multinational Enterprise Part II: Endowments and Environments of International Business 5. Country Competitiveness 6. The Cultural Environment 7. The Political and Legal Environment Part III: Global Markets and Institutions 8. International Economic Integration and Institutions 9. The International Monetary System and Financial Markets Part IV: International Business Strategies 10. International Entry Strategies 11. MNE organization structure and design 12. Building and Managing Global Strategic Alliances (GSAs) 13. Managing Global Research and Development (R&D) Part V: Functional International Business Areas 14. Financial Management for Global Operations 15. International Accounting for Global Operations 16. Global Marketing and Supply Chain 17. Global Human Resource Management Part VI: Emerging Issues in International Business 18. Digital Connectivity and Global Strategies 19. Global Sustainability and Social Responsibility 20. International Entrepreneurship

* New and updated case studies from a wider range of geographic locations * Entirely new chapter on digital global strategies * Improved coverage of supply chain and geopolitical issues * Combination of theory and practice that prepares students for today's international business landscape

First published in 1998, this volume explores international investment strategies as mainly antecedent decisions about what, when, where, and how a transnational investor should invest in the pursuit of its sustained competitive advantages in the global marketplace. The objective of this book is to provide international managers with conceptual frameworks, general guidelines, governmental policies, and insightful evidence useful for their strategic investment decisions involving the People's Republic of China, a country which is now the largest emerging economy and the biggest foreign direct investment absorption developing country in the world.

First published in 1998, this volume explores international investment strategies as mainly antecedent decisions about what, when, where, and how a transnational investor should invest in the pursuit of its sustained competitive advantages in the global marketplace. The objective of this book is to provide international managers with conceptual frameworks, general guidelines, governmental policies, and insightful evidence useful for their strategic investment decisions involving the People's Republic of China, a country which is now the largest emerging economy and the biggest foreign direct investment absorption developing country in the world.

The first book-length treatment of theories, practical lessons, and the full set of critical issues that affect international joint ventures. It addresses culture, human resources, learning, legal, management, and research and development, and presents a full set of decisions and detailed guidelines for IJV formation and management. It also thoroughly analyzes 30 case studies.

The first book-length treatment of theories, practical lessons, and the full set of critical issues that affect international joint ventures. It addresses culture, human resources, learning, legal, management, and research and development, and presents a full set of decisions and detailed guidelines for IJV formation and management. It also thoroughly analyzes 30 case studies.

Interpersonal relationship (guanxi) is one of the major dynamics of Chinese society. Guanxi has been a pervasive part of the Chinese business world for the last few centuries. It binds literally millions of Chinese firms into a social and business web. In China's new, fast-paced business environment, guanxi has become more entrenched than ever, heavily influencing Chinese political landscapes, social behavior, and business practice.This book delineates social and cultural principles and philosophies underlying guanxi dynamics, along with guanxi's social norms that have been long embedded in the Chinese society. Although guanxi is embedded in almost every part of social life in China, companies demonstrate different needs and capacity toward guanxi cultivation. Chinese firms develop guanxi as a strategic mechanism to overcome competitive and resource disadvantages by cooperating and exchanging favors with government authorities and other stakeholders. This book presents an integrative framework about guanxi development according to institutional, strategic, and organizational factors. It further articulates how foreign firms adaptively develop their own legitimate and effective guanxi in China's highly dynamic and complex environment.Guanxi is really dynamic that its practices have been constantly changing and its normative and cognitive legitimacy is shifting as the social and economic structures in the society are drastically transforming. For this reason, this third edition of the book has added numerous new and emergent issues such as moral degradation and guanxi, qualitative and quantitative review of guanxi studies, and guanxi ties between organizations.

As part of the new Routledge series on Global HRM, this new title considers the growing importance of cross-border alliances, in particular international joint ventures, mergers and acquisitions, which is currently a major business issue. Providing a detailed analysis of various aspects of alliances, including learning acquisition, the HR implications of mergers and the role of cooperation and trust in such alliances, this book fills a vital gap in current literature. Featuring case studies and other added value features, this is an essential text for students of HRM, international and strategic management, as well as for HR professionals.

Corporate governance is the hot topic of the new millennium. There has been a growing demand from executives, students, consultants, and researchers for books that systematically illuminate how multinational corporations (MNCs) should deal with global shareholders and other stakeholders. As firms globalise, their corporate governance issues and systems become much more complex. Corporate governance in MNCs is not just a larger version of corporate governance in regular companies; it is instead influenced by MNCs' unique strategies, structures, and environments. This volume in the Blackwell Global Dimensions series helps to translate these relationships and illuminate the related intricacies.

This comprehensive volume brings together leading scholars with extensive business and research experience in China. China 2000 provides timely, in-depth discussion and analysis of a wide range of topics crucial to understanding the rapidly evolving business climate in China. Individual chapters assess such key issues as: - The contribution of private businesses to the Chinese economy - New trends in international joint ventures - Merger and acquisition activities - Technological innovation - Changes in human resource practices - The impact of economic reforms on the Chinese accounting system China 2000 is an invaluable resource for those seeking a better grasp of business challenges and opportunities in China in the next century. China 2000 will be of interest to scholars and professionals in international business, management, industrial/organization psychology, public policy, political science, and economic development.