Does country matter?
研究了跨国公司中，国家、行业、公司和子公司因素对外国子公司绩效差异的解释程度，发现国家效应与行业效应同样重要，且在不同发展水平国家中作用不同。
Abstract Previous studies have explored the predictors of business unit performance in multiple‐business firms and investigated the extent of the effect of industry, corporate, and business unit on the performance of a business unit. These studies have focused almost exclusively on examining performance differences within a single country, thus treating country effects as external to business unit performance. In contrast, this study focuses on multinational corporations and examines the extent to which country effects explain the variation in the performance of foreign affiliates. Our findings show that country effects are as strong as industry effects, following affiliate effects and corporate effects. Our results also suggest that corporate and affiliate effects tend to be more critical in explaining the variation in foreign affiliate performance in developed countries, whereas country and industry effects are more salient in developing countries. Copyright © 2004 John Wiley & Sons, Ltd.