Switching Options and Foreign Entry Decisions：The Role of Portfolio Configuration
Abstract: Research on foreign market entry has rarely considered that multinational firms' newentry decisions may be affected by the configuration of their existing portfolio of affili-ates. We argue that in making entry decisions, firms take into account the contributionthat an entry into a new location makes towards increasing the operational flexibility oftheir manufacturing affiliate portfolios. Such increase in operational flexibility derivesfrom the enhanced options to switch operation across internationally dispersed affiliatesin case of diverging labor cost developments. Analysis of the foreign entry decisions ofthe population of publicly-listed Japanese manufacturing multinationals strongly sup-ports this notion and also establishes some boundary conditions to the effect of opera-tional flexibility on entry, We discuss our study' s implications for research on entry andreal options. 个人简介: 吴树斌，自2016年起任教于利物浦大学管理学院，2012-2016期间曾担任上海财经大学企业战略和国际商务副教授，2011年9月毕业于比利时鲁汶大学，从事在宏观不确定性和国家异质性条件下企业战略和绩效的研究，在Strategic Management Journal等国内外杂志发表论文10余篇，曾获Temple/AIB Best Paper Award-Nominee、ULMS Research Early Career Award等多项国内外科研奖励，现为AIB国际协会会员，担任多家国际学术期刊匿名评审。 Bio:Shubin currently works for the University of Liverpool Management School (ULMS).Before he joined ULMS in 2016, he worked as an associate professor at the School of In-ternational Business Administration of the Shanghai University of Finance and Econom-ics for 4 years. He obtained his PhD from Katholieke Universiteit Leuven, Belgium in September 2011.His research mainly focuses on MNEs' strategic choices (investment decision, locationchoice) and their performance implications under macroeconomic uncertainty and coun-try heterogeneity. His research has appeared in Strategic Management Journal as well assome other academic outlets. He won Temple/AIB Best Paper Award-Nominee, ULMSResearch Early Career Award and so on. He is a member of Academy of InternationalBusiness and acts as referees for some internationally recognized academic journals instrategic management and international business.