Firms' Resources,Institutional Environment And Internationalization Research

The victory of the 19th CPC National Congress laid the overall tone for China's economy and put forward new requirements for development in future.Under such a new era,the internationalization of Chinese enterprises has entered a new stage of in-depth development,facing the challenge of transformation from extensive to high-quality investment,and Chinese firms will shoulder the new missions of "going out" to "going in".In the existing research,the scholars proceeded from the perspectives of economics paradigm and behavior science,and interpreted and studied the internationalization behavior of Chinese companies from the perspective of resource-based,knowledge-based,and institutional-based views.However,the existing research on internationalization strategy is viewing Chinese companies as same samples which are originating from the same starting point,that is,the entire Chinese context is condensed into one point.But in the context of the new era it needs to focus on the characteristics of Chinese companies themselves.From the perspective of internal aspects to explore how companies improve their ability during internationalization process,it is necessary to pay attention to the impact of differences from their home countries on their behavior.In fact,the situation of internal economic and institutional development in China's situation is extremely different.Enterprises that are created on the basis of such differences do not have the same "origin"(resources and capabilities)and need to be further differentiated and explored.Therefore,in order to enrich the research of internationalization strategy,this article will focus on the differences in resource characteristics of Chinese companies themselves,and consider the reality of institutional environment differences such as marketization among different provinces in China,and develop a research based on corporate resources and home countries.This article starts from the sub-national level,integrates the resource-based and institution-based perspectives,and explores the differences in the international behaviors of companies with advantages in marketing resources and those with technological resources.Besides,it will study the mechanism that how provincial institution affect different enterprises and their internationalized strategies.Through empirical analyses,this paper finds that when the company's marketing resources are richer,its internationalization speed is faster and the scope of internationalization is wider;and when the enterprise's technological resources are more abundant,considering the requirements of legality,its internationalization speed is slower and internationalized scope is more limited.Furthermore,when the institutional environment of the province is better,the relationship between the enterprise with more marketing resources and the scope of internationalization will be negatively affected,and it will negatively affect the relationship between the enterprise with more technical resources and the speed of internationalization.The results of this study also have some implications for management practices.That is,different companies should focus on the characteristics of their own resources and increase their investment in key resources in order to address special firms' problems and develop internationlization.At the same time,enterprises in provinces with better institution environment,in order to cope with higher legality requirements,need to steadily advance internationalization under the premise of stabilizing the domestic market.