Outward foreign direct investment by emerging market firms: A resource dependence logic

This study examines and extends the resource dependence logic of diversification for a better understanding of outward foreign direct investment ( OFDI ) activities by emerging market firms. We contend that the diversification logic is bounded by state ownership, an important but less considered component of interdependence. Our empirical results, based on panel data analysis of Chinese listed firms, suggest that the level of interdependence...