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        Cultural and political embeddedness, foreign investment in transforming economies

        Author
        Hardy, Jane
        Currie, Frank
        Ye, Zhen
        Attention
        2299/10332
        Abstract
        The article draws on the concepts of cultural and political embeddedness to analyse the local embeddedness of a global transnational engineering in transforming economies. It compares the process of the negotiations for and the acquisitions of assets undertaken by ABB in Wroclaw, Poland and Xiamen, China. With reference to political embeddedness, while the firm has a strong espoused business culture, the relative strength and autonomy of local institutions in Wroclaw and Xiamen implied different corporate strategies for entry and acquisition. The cultural embeddedness of ABB meant that there were strong similarities in Xiamen and Wroclaw in terms of transferring the norms and routines of the firm. Taking a longer-term view what may appear to be contrasting approaches could be viewed as the same strategy working under more severe institutional constraints, which ultimately slows the pace of acquisition and control rather than fundamentally changing its nature
        Publication date
        2005
        Published in
        Competition and Change
        Published version
        https://doi.org/10.1179/102452905X55921
        Other links
        http://hdl.handle.net/2299/10332
        Relations
        Hertfordshire Business School
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