Do regions matter? An integrated institutional and semiglobalization perspective on the internationalization of MNEs
研究了国家和区域层面的正式制度（监管控制、政治民主、资本投资）如何影响日本跨国公司在45个国家的国际化选址，发现半全球化视角比仅考虑国家层面更有解释力。
Traditional research suggests a relationship between country‐level institutions and the location choices of MNEs . However, more recent theory suggests MNEs also focus on regions (semiglobalization). Therefore, this study examines institutional effects in the context of semiglobalization by considering the influences of three formal institutions (i.e., regulatory control, political democracy, capital investments) of countries and geographic regions on MNEs ' location choices of internationalization. We use a sample of Japanese MNEs operating in 45 countries within eight regions. The results show that their degree of internationalization into a country is influenced by both country and regional institutional environments. Additionally, a semiglobalization perspective provides better explanatory power than does the country‐level perspective. These results present a new perspective on how MNEs consider institutional environments in their international strategy . Copyright © 2013 John Wiley & Sons, Ltd.