Migrant Networks,Parent Company Managerial Competencies,and Overseas Subsidiary Performance
A large number of Chinese enterprises have accelerated their OFDI and global industrial deployment under the impetus of the"The Belt and Road"initiative.The role of migrant networks in the construction of the"The Belt and Road"initiative has be-come increasingly prominent.This paper uses the data of Chinese enterprises'OFDI from 2008 to 2021 as a research sample to explore the impact of the migrant networks on overseas subsidiary performance.Besides,this article further examines the modera-ting effect of managerial competence.The research results show that the migrant networks has a facilitating effect on the perform-ance of overseas subsidiaries.Managerial competence of parent firms enhances the facilitating effect of migration networks on the performance of overseas subsidiaries.The mechanism tests show that the migrant networks has an enabling effect on the perform-ance of overseas subsidiaries by reducing cultural differences in values and increasing their legitimacy of investment.Further-more,the enabling effect of migrant networks on the performance of foreign affiliates is more pronounced in non-manufacturing in-dustries,non-state-owned firms,and situations where overseas subsidiaries adopt a wholly-owned entry mode.The research con-clusions have some practical value in analyzing the economic significance of immigrant networks in the process of Chinese enter-prises'"going out".
NETL
NSTL
万方数据
