New Multinational Enterprises from Korea and Taiwan: Beyond Export-Led Growth (Routledge Studies in International Business and the World Economy, 11)

This volume represents the first substantive study of emerging multinationals (MNEs) from Asian economies, drawing on the unique experiences of South Korea and Taiwan. Combining an econometric investigation with detailed case studies of leading Korean and Taiwanese electronics companies, it aims to demystify the nature and theoretical implications of these dynamic economic regions.The author argues that many of these `new multinationals do not possess the characteristics typically ascribed to MNEs, such as technological leadership, strong marketing positions or advanced managerial capabilities. This is highlighted by documentation of recent developments in outward investment from Korea and Taiwan at both micro and macro level. The implications of the recent Asian crisis for the internationaliztion of Korean and Taiwanese firms are also explored. This volume represents a substantive study of emerging multinationals (MNEs) from Asian economies, drawing on the unique experiences of South Korea and Taiwan. Combining an econometric investigation with detailed case studies of leading Korean and Taiwanese electronics companies, it aims to demystify the nature and theoretical implications of these dynamic economic regions. The author argues that many of these new multinationals do not possess the characteristics typically ascribed to MNEs, such as technological leadership, strong marketing positions or advanced managerial capabilities. This is highlighted by documentation of recent developments in outward investment from Korea and Taiwan at both micro and macro level. The implications of the recent Asian crisis for the internationalization of Korean and Taiwanese firms are also explored Preliminaries......Page 1 Untitled......Page 6 List of tables......Page 9 Foreword......Page 11 Acknowledgements......Page 13 List of abbreviations......Page 15 1 Introduction......Page 18 2 Multinational enterprises and late industrialisation......Page 25 3 High-speed economic development of South Korea and Taiwan......Page 56 4 Governments and the organisation of economic activities......Page 77 5 Korea and Taiwan as outward investors......Page 106 6 Firm-level determinants of outward FDI from the electronics industry......Page 147 7 Four case studies of Korean and Taiwanese multinationals......Page 167 8 Summary and conclusions......Page 244 Notes......Page 262 Bibliography......Page 279 Index......Page 294 "This volume represents the first substantive study of emerging multinationals (MNEs) from Asian economies, drawing on the unique experiences of South Korea and Taiwan. Combining an econometric investigation with detailed case studies of leading Korean and Taiwanese electronics companies, it aims to demystify the nature and theoretical implications of these dynamic economic regions."--Jacket South Korea and Taiwan are prominent examples of "Asian Miracle" economies. This study shows that their success has been based, not only on exports, but on major overseas direct investment Roger Van Hoesel. Includes Bibliographical References (p. [262]-276) And Index.