Upgrading from Contract Manufacturers to Global Lead Firms: The Roles of Regional Institutions, Domestic Consumer Markets, and Global Capital Markets
研究中国泉州运动服装企业如何从合同制造商转型为自主品牌的全球领先企业，揭示区域制度、国内市场和全球资本三者互动如何驱动这一升级过程，对关注产业升级和全球生产网络的学者有参考价值。
Existing global production network (GPN) literature debates primarily focus on how local contract manufacturers and regions achieve development goals by establishing strategic coupling relationships with global lead firms. Limited attention has been given to whether and how these local firms can establish their own brands and subsequently become global lead firms, let alone identifying the key factors driving this transformation process. By developing an analytical framework comprising regional institutions, domestic consumer markets, and global capital markets, this article unpacks how sportswear firms in Quanzhou, China, have successfully transformed from contract manufacturers to emerging global lead firms with their own brands in GPNs. Through extensive interviews in 2020–24 with Quanzhou-based sportswear firms, local government officials, and industry associations, this article explores how the interplay of the three dynamics has coshaped the brand-centered strategies of local firms in coupling and decoupling from GPNs at different stages. The findings reveal that proactive decoupling from GPNs initiated by contract manufacturers aiming to build their own brands is critical for their further upgrading. Regional institutional support and the rapidly growing domestic market provide confidence and opportunities for local firms to establish independent brands and pursue decoupling strategies. Furthermore, global financing facilitates brand-driven decoupling and further functional upgrading through intensive inputs in research and development and international acquisitions, which enriches our understanding of the significant roles of global financing and its reputational effects in GPN dynamics.