Overcoming Information Asymmetry in Foreign Entry Strategy: The Impact of Reputation
研究声誉如何帮助外国企业克服信息不对称，降低交易成本并选择最优进入模式，同时指出声誉作为预测企业行为意图的边界条件。
Traditional transaction cost economics ( TCE ) approaches to foreign entry strategy have assumed that the information asymmetry regarding a local firm's behavioral intent cannot be overcome, thus all potential transaction partners must be treated as potentially opportunistic. However, this ‘assumption of corporate homogeneity’ results in conflicting predictions and has led researchers to question the suitability of TCE for predicting foreign entry mode. We address this controversy by developing theory on how a heterogeneous attribute of transacting firms—their reputations—can provide insights into how foreign entrants can overcome this information asymmetry to reduce transaction costs and select the optimal entry mode. We also specify important boundary conditions affecting reputation's value as a predictor of firms' behavioral intent.