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Sangcheol Song
Saint Joseph's University
SubsidiaryInternational tradeMultinational corporationEconomicsForeign direct investment
33Publications
10H-index
239Citations
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Publications 33
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#1Sangcheol Song (""St. Joe's"": Saint Joseph's University)H-Index: 10
Abstract We employ the growth options perspective to examine how multinational corporations’ localization strategies facilitate the actualization of growth potential preserved in international joint ventures (IJVs). This study uses a data of Korean IJVs; it accounts for the endogeneity associated with a firm’s decision to exercise growth options through a two-stage model. We find that the enlarged IJVs, via conversion to majority ownership under reduced host market demand uncertainty, performed ...
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#1Jung-Ho Lai (National Taipei University of Business)H-Index: 6
#2Li-Yu Chen (Soochow University (Taiwan))H-Index: 3
Last. Sangcheol Song (""St. Joe's"": Saint Joseph's University)H-Index: 10
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Grounded in theories of resource dependence, vicarious and superstitious learning, information processing, and board group literature, this study examines how outside directors’ human and social capital affect the value of corporate foreign direct investments. We employ the event study approach to examine 1210 international investment cases of 836 US firms over a 13-year period. We find significant but distinct non-linear impacts of board members’ human capital (U-shaped effect) and social capit...
1 CitationsSource
#1Yuping ZengH-Index: 3
#2Sangcheol SongH-Index: 10
Last. Soonkyoo ChoeH-Index: 8
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#1Sangcheol SongH-Index: 10
#2Yuping ZengH-Index: 3
Last. Soonkyoo ChoeH-Index: 8
view all 4 authors...
This study examines experience conditions under which firms may or may not learn effectively from prior failures. Drawing on the literature on learning from failure, we argue that the characteristics of failed investments, such as location, ownership, size, and the timing of when failed investments take place influence the effectiveness of learning from failure experience. Using a longitudinal dataset of Korean foreign direct investments, we find a negative relationship between an multinational ...
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#1Alfredo J. Mauri (""St. Joe's"": Saint Joseph's University)H-Index: 8
#2Sangcheol Song (""St. Joe's"": Saint Joseph's University)H-Index: 10
Last. João Neiva de Figueiredo (""St. Joe's"": Saint Joseph's University)H-Index: 7
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Research Summary This study extends Rugman and Verbeke (2001)'s model by examining how firm-specific advantages (FSAs) and host region conditions affect multinational enterprise expansion at the inter-regional level. We examine the impact of their three constructs (non-location-bound FSAs, location-bound FSAs, and complementary resources in the host regions) on U.S. MNEs’ sales in Europe and Asia/Pacific. We also suggest and examine the impact of two additional factors (host market efficiency an...
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#1Sangcheol Song (""St. Joe's"": Saint Joseph's University)H-Index: 10
#2Jeoung Yul Lee (Hongik University)H-Index: 8
Abstract This paper examines the conditions under which foreign subsidiaries of multinational corporations (MNCs) are less prone to divestments. In the study, we examine the importance of foreign subsidiaries to MNCs based upon (1) product-level vertical integration, (2) human capital investments, and (3) technological investments in the subsidiaries. Given that we examine the probability that a subsidiary divestment will occur under the condition that all other subsidiaries are also at risk dur...
1 CitationsSource
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This study employs the real options perspective to examine how changes in market demand uncertainty in host countries affect multinational corporations' exercise of their growth options. Specifically, we seek to determine whether multinational corporations (MNCs) increase their investment in foreign subsidiaries under the influence of reduced market demand uncertainty in their host countries. We also examine which foreign subsidiaries are more subject to the investment increase. We find that a f...
2 CitationsSource
#1Sangcheol Song (""St. Joe's"": Saint Joseph's University)H-Index: 10
We employ the real options perspective to examine how multinational corporations (MNCs) increase ownership levels in their international joint ventures (IJVs) to exploit (or utilize) both within- and across-country flexibility. This paper utilize a rich dataset of South Korean firms’ foreign affiliates to test hypotheses derived from the real options theory. It examines the roles of growth options that require small equity stakes under uncertainty as well as switching options that require contro...
1 CitationsSource
#1Crystal X. Jiang (Bryant University)H-Index: 7
#2Qin Yang (RMU: Robert Morris University)H-Index: 6
Last. Madan Annavarjula (Bryant University)H-Index: 7
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To catch up with their counterparts in global competition, emerging market firms (EMFs) need to build their innovative capabilities for new product development (NPD). Drawing on internationalisation and knowledge management perspectives, we extend Mathews' (2006) 'linkage-leverage-learning' (LLL) framework and present an exploratory analysis of how Chinese firms as an example of EMFs overcome their resource disadvantages and exploit internationalisation opportunities in facilitating their NPD. W...
2 CitationsSource
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