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Article
Publication date: 3 April 2018

Bent Petersen and Kim Østergaard

In an industrial marketing context of manufacturer–distributor collaboration, this law and economics paper aims to contrast two approaches to contracting: conventional and…

1281

Abstract

Purpose

In an industrial marketing context of manufacturer–distributor collaboration, this law and economics paper aims to contrast two approaches to contracting: conventional and strategic.

Design/methodology/approach

Based on relational rent theory, this paper provides an analytical framework for juxtaposing conventional and strategic contracting. A contingency approach is applied to formulate propositions as to when conventional versus strategic contracting is preferable.

Findings

The distinction between conventional and strategic contracting has implications as to whether relational governance substitutes or complements formal contracts (the substitution versus complements perspectives). Strategic contracting results in complementarity (rather than substitutability) between formal contracts and relational governance.

Research limitations/implications

This paper argues that a more nuanced view on contract types, such as strategic versus conventional, may reconcile the enduring research controversy between the substitution and complements perspectives.

Practical implications

Today, formal contracts with foreign distributors tend to resemble “prenuptial agreements”. The opportunity for relational rent (e.g. manifested in higher export revenues) grows if conventional contracts are superseded by contracts following strategic contracting principles.

Originality/value

This study is interdisciplinary, not only by its combination of marketing, management and contractual economics but also through its law and economics amalgamation.

Details

Journal of Business & Industrial Marketing, vol. 33 no. 3
Type: Research Article
ISSN: 0885-8624

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Article
Publication date: 4 September 2017

Kristin Brandl, Michael J. Mol and Bent Petersen

A service production system has a structure composed of task execution, agents performing tasks and a resulting service output. The purpose of this paper is to understand how such…

881

Abstract

Purpose

A service production system has a structure composed of task execution, agents performing tasks and a resulting service output. The purpose of this paper is to understand how such a service production system changes as a consequence of offshoring.

Design/methodology/approach

Drawing on practice theory, the paper investigates how offshoring leads to reconfiguration of the service production system. Through a multiple case methodology, the authors demonstrate how agents and structures interact during reconfiguration.

Findings

The paper analyses the reconfiguration of components of a service production system in response to change ignited by offshoring. The authors find recurring effects between structures that enable and constrain agents and agents who shape the structure of the production system.

Research limitations/implications

The paper offers a novel contribution to the service operations management literature by applying practice theory. Moreover, the authors propose a detailed, activity-driven view of service production systems and service offshoring. The authors contribute to practice theory by extending its domain to operations management.

Practical implications

Service production systems have the ability to self-correct any changes inflicted through offshoring of the systems, which helps firms that offshore.

Originality/value

The paper is aimed at service professionals and offshoring managers and proposes a novel presentation of the service production system with a description of how it responds to offshoring. The authors contribute to theory by applying practice theory to the fields of service operations management and offshoring.

Details

International Journal of Operations & Production Management, vol. 37 no. 9
Type: Research Article
ISSN: 0144-3577

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Article
Publication date: 12 March 2019

Claes Alvstam, Inge Ivarsson and Bent Petersen

The hallmark of today’s global value chains (GVCs), still dominated by multinationals from advanced economies, is a sophisticated international division of labor based on scale…

994

Abstract

Purpose

The hallmark of today’s global value chains (GVCs), still dominated by multinationals from advanced economies, is a sophisticated international division of labor based on scale economies and prevailing factor endowment differences between countries. However, GVCs led by multinationals from large emerging economies may be configured on the basis of considerations that supplement factor cost efficiencies, namely, those of societal objectives as formulated by political actors in the home country. In this context, the purpose of this paper is to examine the implications of political and socio-economic factors on GVC configuration of multinational firms.

Design/methodology/approach

This paper provides an in-depth case study of a leading Chinese car manufacturer, Zhejiang Geely Holding Group (ZGH) and its value-chain configuration, with a special focus on the acquisition of Volvo Car Corporation.

Findings

The authors show how ZGH’s configuration of its GVC, including that of acquired Volvo Car Corporation, takes place in symbiosis with political actors. The advantages and disadvantages of this symbiosis are highlighted.

Research limitations/implications

The study focuses on GVC configuration of one company, ZGH, in one industry, the automotive industry, in one emerging economy. The external validity of the study may therefore be limited. Furthermore, the focus is on the geographical/locational configuration of GVCs and ignores the ownership aspects.

Originality/value

The paper provides novel empirical evidence to better understand GVC configuration of multinational firms from emerging economies.

Details

International Journal of Emerging Markets, vol. 15 no. 1
Type: Research Article
ISSN: 1746-8809

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Book part
Publication date: 28 March 2006

Bent Petersen, Torben Pedersen and Gabriel R.G. Benito

For many exporting firms, success in foreign markets hinges to a large extent on the performance of their foreign intermediaries (Albaum, Strandskov, & Duerr, 2002; Ellis, 2000;…

Abstract

For many exporting firms, success in foreign markets hinges to a large extent on the performance of their foreign intermediaries (Albaum, Strandskov, & Duerr, 2002; Ellis, 2000; Root, 1987). In spite of the key role played by intermediaries in foreign markets – i.e. sales agents and independent distributors (Solberg & Nes, 2002) – exporters often regard them as temporary arrangements and second-best alternatives to conducting foreign marketing, sales, and service activities in-house. The typical assumption is that foreign intermediaries are low-control entry modes (Hill, 2003; Root, 1987) that do not have the potential of exploiting the full sales potential of export markets. In other words, foreign intermediary arrangements could have inherent limitations that foster mediocre rather than excellent market performance. Several studies report that exporters generally distrust foreign intermediaries and suspect them of shirking at any given occasion (Beeth, 1990; Nicholas, 1986; Petersen, Benito, & Pedersen, 2000). Poor performance is sometimes expected. On the other hand, foreign intermediaries often find that exporters put in place incentive structures that do not induce them to achieve excellent performance. Hence, it is asserted that foreign intermediaries may deliberately seek mediocrity rather than very poor or outstanding performance.

Details

Relationship Between Exporters and Their Foreign Sales and Marketing Intermediaries
Type: Book
ISBN: 978-1-84950-397-6

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Article
Publication date: 10 November 2014

Peter D. Ørberg Jensen and Bent Petersen

While mainstream theories in international business and management are foundedeither explicitly or implicitly on studies of manufacturing firms, prior attempts to develop theoryon…

3813

Abstract

Purpose

While mainstream theories in international business and management are foundedeither explicitly or implicitly on studies of manufacturing firms, prior attempts to develop theoryon the internationalization of service firms are sparse and have yet to establish solid andcomprehensive frameworks. The thrust of this study is that value creation logics, a constructoriginally developed by Stabell and Fjeldstad (1998) can assist us in better understanding why and how service firms internationalize. The authors extend this construct and propose that the internationalization of service firms must be based on a thorough understanding of the fundamental nature of these firms.

Design/methodology/approach

Theoretical study.

Findings

The authors put forward propositions concerning the pace of internationalization and the default foreign operation modes in service firms.

Research limitations/implications

The use of value creation logics can be a useful complement to the conventional approaches to the study of service firms’ internationalization. However, the fact that most firms encompass more than one value creation logic complicates the use of firm databases and industry statistics.

Practical implications

The authors suggest that managers in service firms should consider primarily the nature of the value creation logic(s) in their firms when deciding and designing an internationalization strategy.

Originality/value

The study presents a novel theoretical approach and a set of propositions on service firm internationalization founded on the specific characteristics of the service activities.

Details

International Marketing Review, vol. 31 no. 6
Type: Research Article
ISSN: 0265-1335

Keywords

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Book part
Publication date: 25 October 2014

Bent Petersen and Rene E. Seifert

The chapter provides an economic explanation and perspectivation of strategic asset seeking of multinational enterprises from emerging economies (EMNEs) as a prominent feature of…

Abstract

Purpose

The chapter provides an economic explanation and perspectivation of strategic asset seeking of multinational enterprises from emerging economies (EMNEs) as a prominent feature of today’s global economy.

Approach

The authors apply and extend the “springboard perspective.” This perspective submits that EMNEs acquire strategic assets in developed markets primarily for use in their home markets.

Findings

The authors succumb that the springboard perspective is alluring theoretically as well as empirically as it suggests that when EMNEs acquire strategic assets, they experience liabilities of foreignness (LOF) that are low relative to those of MNEs from developed markets. The authors concede to this LOF asymmetry but also point out that liabilities of outsidership (LOO) can offset or weaken the home-market advantage of some EMNEs when competing with MNEs.

Research implications

LOO appears as the more relevant concept to use when explaining strategic asset seeking of EMNEs. A set of propositions are formulated to guide empirical testing.

Originality/value

The insights gained from using the springboard perspective and the LOO concept are non-trivial: They basically predict future dominance of ‘insider’ EMNEs at the expense of MNEs from developed markets.

Details

Multinational Enterprises, Markets and Institutional Diversity
Type: Book
ISBN: 978-1-78441-421-4

Keywords

Available. Content available
Book part
Publication date: 2 December 2024

Vítor Corado Simões, John Cantwell and Philippe Gugler

Abstract

Details

The History of EIBA: A Tale of the Co-evolution between International Business Issues and a Scholarly Community
Type: Book
ISBN: 978-1-83608-665-9

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Article
Publication date: 1 April 2003

Georgios I. Zekos

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some…

101260

Abstract

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.

Details

Managerial Law, vol. 45 no. 1/2
Type: Research Article
ISSN: 0309-0558

Keywords

Available. Content available
Book part
Publication date: 28 March 2006

Abstract

Details

Relationship Between Exporters and Their Foreign Sales and Marketing Intermediaries
Type: Book
ISBN: 978-1-84950-397-6

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Book part
Publication date: 28 March 2006

Abstract

Details

Relationship Between Exporters and Their Foreign Sales and Marketing Intermediaries
Type: Book
ISBN: 978-1-84950-397-6

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