How to support the rapid internationalization of multinational enterprises (MNEs) is a hot topic in academia and industry. The main purpose of this work is to study the role of relational assets (R-assets) in promoting the speed of internationalization of MNEs, and to explore the moderating effect of environmental uncertainty (institutional environment and industry environment) on the relationship between R-assets and internationalization speed of MNEs.
This study uses the outward foreign investment data of China’s A-share listed enterprises from 2009 to 2021, and employs the Cox proportional hazards model to empirically test the research hypothesis.
The empirical results revealed that R-assets can promote enterprise internationalization speed. In addition, the study also finds that the institutional uncertainty of host countries weakens the promotion effect of R-assets on internationalization speed of MNEs, while the industry uncertainty strengthens the promotion effect of those. Heterogeneity analysis illustrates that, compared with state-owned enterprises, non-state-owned enterprises have a more significant effect on the above conclusions.
This study enriches the literature on internationalization speed of MNEs by focusing on the determinants of internationalization speed through R-assets. From the perspective of knowledge, the work also provides a theoretical reference whereby MNEs can use host country R-assets to accelerate knowledge acquisition and then internationalization practice. In conclusion, this study provides valuable insights for managers aiming to develop effective strategies through R-assets to achieve rapid internationalization, contributing to an emerging literature stream on catch-up for emerging-market MNEs.
