Semiglobalization and international business strategy

“Here, value added through aggregation, in the sense of exploiting similarities across countries (Ghemawat, 2003), can be achieved in the home region but appears difficult across regions.”

“The world is, and is likely to remain, only semiglobalized (Ghemawat, 2003).”

“many studies of the MNE itself, and recent discussions outline research agendas that push further in that direction (Ghemawat, 2003; Rugman and Verbeke, 2003; Yeung, 2003).”

“Despite popular claims of globalization, international business scholars are well aware that the international economic landscape is not flat but semi-globalized (Ghemawat, 2003).”

“Another area of opportunity lies in comparative analyses in the context of FDI from developed countries and developing countries while drawing on existing models, including the CAGE framework (Ghemawat, 2001, 2003).”

“…group of studies focuses on the interplay between the competitive advantages of MNCs and the comparative advantages of host countries (Kogut, 1985; Ghemawat, 2003), and explains how MNCs can gain from exploiting the similarities (aggregation) and differences among countries (arbitrage) (Ghemawat,…”

“In this situation, FSAs may arise from ‘internalization arbitrage’ (Rugman & Verbeke, 2004; cf. Ghemawat, 2003) in the sense that MNEs obtain advantage from proximity and easy access to multiple external markets that offer such best available practices.”

“The arbitrage strategy, studied earlier by Kogut (1985a, b) among a few others, is reconceptualized in terms of a broader range of differences across countries and elaborated on in Ghemawat (2003b), who also discusses how it differs from adaptation/aggregation as a strategic approach.”

“Nevertheless, several IB scholars indicate that there are limits to globalization and that it is necessary to emphasize complementary regional strategies (e.g., Ghemawat, 2003; Rugman and Verbeke, 2004).”

“However, a Journal of International Business Studies recent semi-globalization approach holds that incomplete cross-border integration generates neither global integration nor national market fragmentation (Ghemawat, 2003).”

“Furthermore, although pressures from inter na tional capital markets and foreign port folio investors may have become more signi fic ant influences on large firm beha vi our in recent decades, the extent of cross­ border capital market inte­ gration remains limited and subject to the de cisions of nation states (Ghema…”

“These situations cannot be fully understood through purely country-level analyses but require an evaluation of operations across multiple locations (e.g., within a region) that are distinct from but not entirely independent of each other (Ghemawat, 2003).”

“…the process, and thus we recommend firms to consider all potential problems that may arise while planning the: who, what, where, how, and speed of international marketing, taking into account the meaning of what Ghemawat (2003) noted – the world is, and is likely to remain, only semi-globalized.”

“Therefore, firm assets that are ‘melded’ with each location cannot be dislodged and transferred to other locations without incurring significant costs, rendering the issue of locational selectivity or the decision of where (and where not) to expand an increasingly critical component of international business strategy…”

“Instead, we have, at best, a system of semi-globalisation (Ghemawat, 2001, 2003) in which firms and strategic initiatives are strongly localised.”

“…coincide with discrete changes in language, culture, and regulatory frameworks that limit cross-platform interactions (Beugelsdijk & Mudambi, 2013; Ghemawat, 2003, 2017), thereby limiting network externalities for any given platform (Beugelsdijk & Mudambi, 2013; Chen et al., 2018; Head & Mayer,…”

“Ghemawat (2003) labeled the lack of perfectly integrated markets as ‘semiglobalization’ and, using a transaction-cost analysis framework, explained that country-specific advantages are still highly relevant.”

“While it is clear that the world will remain in a state of ‘‘semi-globalisation’’ (Ghemawat, 2003) into the foreseeable future, it appears that at least along certain dimensions ‘‘distance’’ has shrunk, through factors such as new technologies, trade Sub-regional Home-regional Bi-regional Global”

“Traditionally, the IB literature mainly used cultural, institutional, political and economic dimensions to assess relative advantages and measure distance (e.g., Ghemawat, 2003).”

“More generally, while political scientists tend to focus on states and ignore MNEs and business scholars the exact reverse, international business scholars because we live in a world of incomplete globalization (Ghemawat, 2003) do focus on both actors: MNEs and nation states.”

“There are many different ways to discriminate empirically between low-distance and highdistance environments, as demonstrated by Ghemawat (2001, 2003) , one useful distinction being that between home region and host regions in a triad context.”

“As firms seek tax arbitrage by setting operations in tax-friendly locations (Ghemawat, 2003; Hong & Smart, 2010; Kogut, 1983), demand for offshore tax services continues to rise (Boston Consulting Group, 2012).”

“Moreover, the de-globalization trend presents opportunities for research on ‘‘glocalization’’ (Gould & Grein, 2009) and semi-globalization (Ghemawat, 2003), which are meaningful approaches to balancing LOF and AOF.”

“In line with Ghemawat (2003), Hawawini et al. (2004) point three home country biases that support the existence of a country effect on firm performance.”

“…expansions from one market to another, this new perspective requires greater appreciation of the roles played by cultural, administrative, geographic, and economic distances in international expansion and better framing of the marketer’s strategy as regional, global, or semiglobal (Ghemawat 2003a).”

“…‘institutional arbitrage’, that is the strategic pursuit of an MNE to exploit differences in the configuration of the professional, administrative, cultural, economic, or geographic environment between countries to their own advantage (Dicken, 2003; Ghemawat, 2003; Gaur and Lu, 2007; Zhao, 2006).”

“For example, as Ghemawat (2003) notes, market integration creates opportunities for firm strategies to stretch across national boundaries in a semi-globalization approach.”

“situation of semi-globalization ( Ghemawat, 2001, 2003 ).”

“The findings of this article provide insights into the recent debate on whether the world is flat (Friedman, 2005), spiky (Florida, 2005), or semi-globalized (Ghemawat, 2003).”

“In fact, interactions involving small to medium levels of cultural distance may actually pose less problems than interactions involving culturally similar actors (Ghemawat 2003, rugman/Verbeke 2004). For instance, leung, Wang, and Smith (2001) found that when managers need to work with colleagues from another cultural…”

“…level of experience has been reached, further experience does not significantly affect the likelihood of operator entry in the countries of the region.9 This is generally consistent with the argument on regionalization, rather than globalization of business (Ghemawat, 2003; Rugman and Brain, 2003).”

“…diversification was calculated at the regional rather than country level because scholars have begun to emphasize interregional rather than intraregional differences as more salient to issues of internationalization (Ghemawat, 2003; Qian, Khoury, Peng, & Qian, in press; Rugman & Verbeke, 2004).”

“Proponents of the incomplete globalization thesis argue that not all parts of the world have been uniformly affected by globalizing trends (Ghemawat, 2003).”

“Cross-border flows of goods and services, capital, technology, people, and information yield a more globalized world (Ghemawat, 2003).”

“Countries differ in cultural, administrative/political, geographic, and economic dimensions (Ghemawat, 2001, 2003, 2007) and, due largely to these differences, firms investing abroad can experience a much higher degree of market friction than firms in domestic markets.”

“While regional structures are considered increasingly important in today’s regionallystructured world, this topic has attracted relatively limited scholarly attention (Enright 2005a, b; Ghemawat 2003; Paik and sohn 2004 ; schutte 1996 ; Rugman 2005; Rugman and Verbeke 2004).”

“Ghemawat 2003 ), and yet a recent literature review shows that little is known about the optimal level of”

“Second, the results underline the arbitraging of international differences as a strategic choice for MNCs under substantial constraints (Ghemawat 2003).”

“…for MNEs to combine local responsiveness and global integration (Bartlett & Ghoshal, 1989, Prahalad & Doz, 1987), as well as the more recent evidence on the existence of incomplete cross-border integration, labeled as semi-globalization, thus requiring regional strategies (Ghemawat, 2003, 2005).”

“inventions that are industrially useful and not obvious to an individual who is knowledgeable in the relevant technical field; (2) the ownership of intellectual property rights; (3) a firm’s technological portfolio and strategy (Ernst, 2003); and (4) a firm’s strategy for product market internationalization if interna…”

“12. For an elaboration of the concept of semiglobalization, its empirical underpinnings, and its implications for research, see Ghemawat (2003) .”

“This has resulted in what one authority refers to as “semi-globalization” ( Ghemawat, 2003 ), while yet another leading academic, examining the patterns of international trade, argues that the trend is one of regionalization (Rugman, 2005).”

“8 For further discussion, see Ghemawat (2001, 2003) and the introduction to Ariño et al. (2004).”

“Or, as Ghemawat (2003) observed, market integration has reached an in-between stage of ‘semi-globalization’.”

“International patent applications not only represent a firm’s application of new technical knowledge, but also reflect its strategy for geographical market expansion (Deng, 2009; Ghemawat, 2003).”

“The original Uppsala model, however, cannot adequately account for how firms internationalize in a semi-globalized world because, implicitly, the model operates in a world akin to that of ‘national isolation’ (as depicted in Figure 1) wherein the LOF arising from psychic distance among countries is the only constraint…”

“whereas others view firms following a semiglobalizing, regionalist perspective (Ghemawat, 2003; Rugman & Verbeke, 2004).”

“These costs arise due to institutional, economic, cultural, geographic, and other differences between countries (Rugman & Verbeke, 1992; Ghemawat, 2003).”