Skip to main content Accessibility help
Hostname: page-component-78bd46657c-lpzrl Total loading time: 0.378 Render date: 2021-05-06T11:17:43.614Z Has data issue: true Feature Flags: { "shouldUseShareProductTool": true, "shouldUseHypothesis": true, "isUnsiloEnabled": true, "metricsAbstractViews": false, "figures": false, "newCiteModal": false, "newCitedByModal": true }

Chinese Outward Direct Investment Research: Theoretical Integration and Recommendations

Published online by Cambridge University Press:  02 February 2015

Ping Deng
Cleveland State University, USA
E-mail address:


This article reports a detailed analysis of 138 peer-reviewed articles in 41 journals published in the last 12 years (2001-2012) that focus on Chinese outward foreign direct investment from a theoretical advancement perspective. It assesses how the topic has been explored both conceptually and empirically and identifies the substantive contributions to the literature using a thematic analysis. The article argues that research on the international expansion of Chinese multinational corporations offers a unique opportunity to extend and develop extant theorizing in four primary research streams: the latecomer perspective; Chinese state and government influences; the dynamics of firms and institutions; and the liability of foreignness. Building on the results of this analysis, the article offers five recommendations as promising ways to open up theoretical inquiry: (1) cross-fertilization among the four research streams; (2) integration of resource- and institution-based theories with other theoretical lenses; (3) research on the process dimensions using a longitudinal approach; (4) adoption of multi-levels of analysis; and (5) consideration of the wider emerging market literature.

Regular Articles
Copyright © International Association for Chinese Management Research 2013

Access options

Get access to the full version of this content by using one of the access options below.


Alon, I., Chang, J., Fctschcrin, M., Lattemann, C., & Mcintyre, J. (Eds.). 2009. China rules: Globalization and political transformation. New York: Palgrave Macmillan.CrossRefGoogle Scholar
*Alon, T. M. 2010. Institutional analysis and the determinants of Chinese FDI. Multinational Business Review, 18(3): 124.Google Scholar
*Antkiewicz, A., & Whalley, J. 2007. Recent Chinese buyout activity and the implications for wider global investment rules. Canadian Public Policy, 33(2): 207226.CrossRefGoogle Scholar
*Armstrong, S. 2011. Assessing the scale and potential of Chinese investment overseas: An econometric approach. China & World Economy, 19(4): 2237.CrossRefGoogle Scholar
Barney, J. B., & Zhang, S. 2009. The future of Chinese management research. Management and Organization Review, 5(1): 1528.Google Scholar
*Bhaumik, S., & Co, C. Y. 2011. China's economic cooperation related investment. China Economic Review, 22(1): 7587.CrossRefGoogle Scholar
*Biggeri, M., & Sanfilippo, M. 2009. Understanding China's move into Africa: An empirical analysis. Journal of Chinese Economic and Business Studies, 7(1): 3154.CrossRefGoogle Scholar
*Boisot, M. H., & Meyer, M. W. 2008. Which way through the open door? Reflections on the internationalization of Chinese firms. Management and Organization Review, 4(3): 349365.CrossRefGoogle Scholar
*Bonaglia, F., Goldstein, A., & Mathews, J. A. 2007. Accelerated internationalization by emerging markets’ multinationals. Journal of World Business, 42(4): 369383.CrossRefGoogle Scholar
Brautigam, D. 2009. The dragon's gift: The real stoty of China in Africa. New York: Oxford University Press.Google Scholar
*Brautigam, D., & Tang, X. 2011. African Shenzhen: China's special economic zones in Africa. Journal of Modern African Studies, 49(1): 2754.CrossRefGoogle Scholar
*Brienen, M. J., Burger, M. J., & Van Oort, F. G. 2010. The geography of Chinese and Indian greenficld investments in Europe. Eurasian Geography and Economics, 51(2): 254273.CrossRefGoogle Scholar
Bruton, G. D., & Lau, C. M. 2008. Asian management research: Status today and future outlook. Journal of Management Studies, 45(3): 636659.CrossRefGoogle Scholar
*Buckley, P. J., Clegg, J., Cross, A. R., Liu, X., Voss, H., & Zheng, P. 2007. The determinants of Chinese outward foreign direct investment. Journal of International Business Studies, 38(4): 499518.CrossRefGoogle Scholar
*Buckley, P. J., Cross, A. R., Tan, H., Liu, X., & Voss, H. 2008. Historic and emergent trends in Chinese outward direct investment. Management International Review, 48(6): 715748.CrossRefGoogle Scholar
*Cardoza, G., & Fornes, G. 2011. The internationalisation of SMEs from China: The case of Ningxia Hui Autonomous Region. Asia Pacific Journal of Management, 28(4): 737759.CrossRefGoogle Scholar
Carney, M., Shapiro, D., & Tang, Y. 2009. Business group performance in China: Ownership and temporal considerations. Management and Organization Review, 5(2): 167193.CrossRefGoogle Scholar
*Chen, S., & Tan, H. 2012. Region effects in the internationalization-performance relationship in Chinese firms. Journal of World Business, 47(1): 7380.Google Scholar
*Chen, Y., & Young, M. 2010. Cross-border mergers and acquisitions by Chinese listed companies. Asia Pacific Journal of Management, 27(3): 523539.Google Scholar
*Cheung, Y. W., & QJan, X. W. 2009. The empirics of China's outward direct investment. Pacific Economic Review, 14(3): 312341.CrossRefGoogle Scholar
Child, J. 2009. Context, comparison and methodology in Chinese management research. Management and Organization Review, 5(1): 91105.CrossRefGoogle Scholar
*Child, J., & Rodrigues, S. B. 2005. The internationalization of Chinese firms: A case for theoretical extension. Management and Organization Review, 1(3): 381410.CrossRefGoogle Scholar
Child, J., Rodrigues, S. B., & Tse, K. 2012. The dynamics of influence in coiporate co-evolution. Journal of Management Studies, 49(7): 12461273.CrossRefGoogle Scholar
*Clegg, J., & Voss, H. 2011. Inside the China-EU FDI bond. China & World Economy, 19(4): 92108.CrossRefGoogle Scholar
Cuervo-Cazurra, A., & Gene, M. E. 2011. Obligating, pressing, and supporting dimensions of the environment and the non-market advantages of developing-country multinational companies. Journal of Management Studies, 48(2): 441455.Google Scholar
*Cui, L., & Jiang, F. 2009a. FDI entry mode choice of Chinese firms: A strategic behavior perspective. Journal of World Business, 44(4): 434444.Google Scholar
*Cui, L., & Jiang, F. 2009b. Ownership decisions in Chinese outward FDI: An integrated conceptual framework and research agenda. Asian Business & Management, 8(3): 301324.Google Scholar
*Cui, L., & Jiang, F. 2010. Behind ownership decision of Chinese outward FDI: Resources and institutions. Asia Pacific Journal of Management, 27(4): 751774.Google Scholar
*Cui, L., & Jiang, F. 2012. State ownership effect on firms' FDI ownership decisions under institutional pressure. Journal of International Business Studies, 43: 263284.Google Scholar
*Cui, L., Jiang, F., & Stening, B. 2011. The entry-mode decision of Chinese outward FDI. Thun-derbird International Business Review, 53(4): 483499.Google Scholar
*De Beule, F., & Duanmu, J. 2012. Locationai determinants of internationalization: A firm-level analysis of Chinese and Indian acquisitions. European Management Journal, 30(3): 264277.CrossRefGoogle Scholar
*Deng, P. 2004. Outward investment by Chinese MNCs: Motivations and implications. Business Horizons, 47(3): 816.Google Scholar
*Deng, P. 2007. Investing for strategic resources and its rationale: The case of outward FDI from Chinese companies. Business Horizons, 50(1): 7181.Google Scholar
*Deng, P. 2009. Why do Chinese firms tend to acquire strategic assets in international expansion? Journal of World Business, 44(1): 7484.Google Scholar
*Deng, P. 2010. What determines performance of cross-border M&As by Chinese companies? An absorptive capacity perspective. Thunderbird International Business Review, 52(6): 509524.Google Scholar
*Deng, P. 2012. The internationalization of Chinese firms: A critical review and future research. International Journal of Management Reviews, 14(4): 408427.Google Scholar
*Di Minin, A., Zhang, J., & Gammeltoft, P. 2012. Chinese foreign direct investment in R & D in Europe. European Management Journal, 30(3): 189203.CrossRefGoogle Scholar
*Dixon, M. 2010. Emerging Chinese role in shaping St. Petersburg's urban landscape. Eurasian Geography and Economics, 51(6): 803819.Google Scholar
*Drysdale, P. 2011. A new look at Chinese FDI in Australia. China & World Economy, 19(4): 5473.CrossRefGoogle Scholar
*Duanmu, J.-L. 2012. Firm heterogeneity and location choice of Chinese multinational enterprises (MNEs). Journal of World Business, 47(1): 6472.CrossRefGoogle Scholar
*Duysters, G., Jacob, J., Lemmens, C., & Yu, J. 2009. Internationalization and technological catching up of emerging multinationals. Industrial and Corporate Change, 18(2): 325349.CrossRefGoogle Scholar
Economist. 2008. Chinese outbound investment: Dealing with Sinophobia, July 15.Google Scholar
Economist. 2010. Cover story: China buys up the world. November 13th p. 11, pp. 8183.Google Scholar
*Fan, D., Zhu, C., & Nyland, C. 2012. Factors affecting global integration of Chinese multinationals in Australia: A qualitative analysis. International Business Review, 21(1): 1326.Google Scholar
*Fortanier, F., & Tulder, R. 2009. Internationalization trajectories - a cross-country comparison. Industrial and Corporate Change, 18(2): 223247.CrossRefGoogle Scholar
*Frost, S. 2004. Chinese outward direct investment in Southeast Asia: How big are the flows and what does it mean for the region? The Pacific Review, 17(3): 323340.CrossRefGoogle Scholar
*Fung, H.-G., Liu, Q. W., & Kao, E. H. C. 2007. China's outward direct and portfolio investments. China & World Economy, 15(6): 5368.Google Scholar
*Gao, L., Liu, X., & Zou, H. 2013. The role of human mobility in promoting Chinese outward FDI. International Business Review, 22(2): 437449.Google Scholar
*Gattai, V. 2012. Chinese ODI in Italy: An empirical investigation at the firm-level. Journal of Chinese Economic and Business Studies, 10(1): 4766.Google Scholar
*Ge, G., Ding, Z. 2008. A strategic analysis of surging Chinese manufacturers: The case of Galanz. Asia Pacific Journal of Management, 25(4): 667683.Google Scholar
*Gebre-Egziabher, T. 2007. Impacts of Chinese imports and coping strategies of local producers. Journal of Modern African Studies, 45: 647679.Google Scholar
*Globerman, S., & Shapiro, D. 2009. Economic and strategic considerations surrounding Chinese FDI in the United States. Asia Pacific Journal of Management, 26(1): 163183.CrossRefGoogle Scholar
*Gonzalez-Vicente, R. 2011. China's engagement in South America and Africa's extractive sectors: New perspectives for resource curse theories. The Pacific Review, 24(1): 6587.CrossRefGoogle Scholar
*Haglund, D. 2008. Regulating FDI in weak African states: A case study of Chinese copper mining in Zambia. The Journal of Modern African Studies, 46(4): 547575.CrossRefGoogle Scholar
*He, W. & Lyles, M. A. 2008. China's outward foreign direct investment. Business Horizons, 51(6): 485491.Google Scholar
Hillman, A. J., Withers, M. C., & Collins, B. J. 2009. Resource dependence theory: A review. Journal of Management, 35(6): 14041427.CrossRefGoogle Scholar
Hitt, M. A., Beamish, P. W.,Jackson, S. E., & Mathieu, J. E. 2007. Building theoretical and empirical bridges across levels. Academy of Management Journal, 50(6): 13851399.CrossRefGoogle Scholar
*Hong, E., & Sun, L. 2006. Dynamics of internationalization and outward investment: Chinese corporations' strategies. The China Quarterly, 187: 610634.Google Scholar
*Huang, Y., & Wang, B. 2011. Chinese outward direct investment: Is there a China model? China & World Economy, 19(4): 121.Google Scholar
*Hurst, L. 2011. Comparative analysis of the determinants of China's state-owned outward direct investment in OECD and non-OECD countries. China & World Economy, 19(4): 7491.CrossRefGoogle Scholar
*Jiang, W. 2009. Fuelling the dragon: China's rise and its energy and resources extraction in Africa. China Quarterly, 199: 585609.Google Scholar
*Jormanainen, I., & Koveshnikov, A. 2012. International activities of emerging market firms. Management International Review, 52(5): 691715.CrossRefGoogle Scholar
*Kang, Y., & Jiang, F. 2012. FDI location choice of Chinese multinationals in East and Southeast Asia. Journal of World Business, 47(1): 4553.Google Scholar
*Kim, J. C. 2006. The political economy of Chinese investment in North Korea. Asian Survey, 46(6): 898916.Google Scholar
*King, G., & Weitzel, U. 2011. The internationalization of Chinese companies. Research in International Business and Finance, 25(3): 357372.Google Scholar
*Klossek, A., Linke, B. M., & Nippa, M. 2012. Chinese enteiprises in Germany. Journal of World Business, 47(1): 3544.Google Scholar
*Knoerich, J. 2010. Gaining from the global ambitions of emerging economy enterprises. Journal of International Management, 16(2): 177191.CrossRefGoogle Scholar
*Kolstad, I. & Wiig, A. 2012. What determines Chinese outward FDI? Journal of World Business, 47(1): 2634.CrossRefGoogle Scholar
Krug, B., & Hendrischke, H. 2008. Framing China: Transformation and institutional change through co-evolution. Management and Organization Review, 4(1): 81108.CrossRefGoogle Scholar
*Kumar, N., & Chadha, A. 2009. India's outward foreign direct investments in steel industry in a Chinese comparative perspective. Industrial and Corporate Change, 18(2): 249267.Google Scholar
*Lau, C. M., Ngo, H.-Y., & Yiu, D. W. 2010. Internationalization and organizational resources of Chinese firms. Chinese Management Studies, 4(3): 258272.Google Scholar
*Lee, C. K. 2009. Raw encounters: Chinese managers, African workers and the politics of casualization in Africa's Chinese enclaves. The China Quarterly, 199: 647666.Google Scholar
Lewin, A. Y., & Volberda, H. W. 1999. Prolegomena on coevolution: A framework for research on strategy and new organizational forms. Organization Sciences, 10(5): 519534.CrossRefGoogle Scholar
Li, H., Zhang, U. A., & Lyles, M. 2013. Knowledge search, spillovers, and creation in emerging markets. Management and Organization Review, 9(3): 395412.CrossRefGoogle Scholar
*Li, J. T., & Kozhikode, R. K. 2011. Organizational learning of emerging economy firms: The case of China's TCL. Organizational Dynamics, 40(3): 214221.Google Scholar
*Li, P. P. 2007. Toward an integrated theory of multinational evolution: The evidence of Chinese multinational enterprises as latecomers. Journal of International Management, 13: 296318.Google Scholar
Li, P. P., Leung, K., Chen, C., & Luo, J.-D. 2012. Indigenous research on Chinese management: What and how. Management and Organization Review, 8(1): 724.CrossRefGoogle Scholar
*Liang, X., Lu, X., & Wang, L. 2012. Outward internationalization of private enterprises in China. Journal of World Business, 46(1): 134144.Google Scholar
*Lin, X. 2010. State versus private MNCs from China: Initial conceptualizations. International Marketing Review, 27(3): 366380.Google Scholar
*Liou, C.-S. 2009. Bureaucratic politics and overseas investment by Chinese state-owned oil companies: Illusory champions. Asian Survey, 49(4): 670690.Google Scholar
*Liu, H., & Li, K. 2002. Strategic implications of emerging Chinese multinationals: The Haier case study. European Management Journal, 20(6): 699706.Google Scholar
*Liu, X., & Buck, T. 2009. The internationalization strategies of Chinese firms: Lenovo and BOE. Journal of Chinese Economic and Business Studies, 7(2): 167181.Google Scholar
*Liu, X., Buck, T., & Shu, C. 2005. Chinese economic development, the next stage: Outward FDI? International Business Review, 14(1): 97115.Google Scholar
*Liu, X., Wen, X., & Huang, X. 2008. Entrepreneurship and internationalization of indigenous Chinese private-owned firms. International Business Review, 17(4): 488508.Google Scholar
*Liu, Y., Li, Y., & Xuc, J. 2011. Ownership, strategic orientation and internationalization in emerging markets. Journal of World Business, 46(3): 381393.Google Scholar
*Lu, J., Liu, X., & Wang, H. 2011. Motives for outward FDI of Chinese private firms. Management and Organization Review, 7(2): 223248.Google Scholar
*Lu, Y., Zhou, L., Bruton, G., & Li, W. 2010. Capabilities as a mediator linking resources and the international performance of entrepreneurial firms in an emerging economy. Journal of International Business Studies, 41(3): 419436.Google Scholar
*Luo, Y., & Rui, H. 2009. An ambidexterity perspective toward multinational enterprises from emerging economies. Academy of Management Perspective, 23(4): 4970.Google Scholar
*Luo, Y., & Tung, R. L. 2007. International expansion of emerging market enterprises: A springboard perspective. Journal of International Business Studies, 38(4): 481498.Google Scholar
*Luo, Y., & Wang, S. L. 2012. Foreign direct investment strategies by developing country multinational. Globalstrategie Journal, 2(2): 244261.Google Scholar
*Luo, Y., Xue, Q., & Han, B. 2010. How emerging market governments promote outward FDI: Experience from China. Journal of World Business, 46(1): 6879.Google Scholar
*Luo, Y., Cacchione, M., Junkunc, M., & Lu, S. C. 2011a. Entrepreneurial pioneer of international venturing: The case of Huawei. Organizational Dynamics, 40(1): 6774.Google Scholar
*Luo, Y., Zhao, H., Wang, Y., & Xi, Y. 2011b. Venturing abroad by emerging market enterprises. Management International Review, 51(4): 433459.Google Scholar
*Malhotral, S., Zhu, P. C., & Locander, W. 2010. Impact of host-country corruption on U.S. and Chinese cross-border acquisitions. Thunderbird International Business Review, 52(6): 491507.Google Scholar
*Marinova, S., Child, J., & Marinov, M. 2011. Evolution of firm- and country-specific advantages and disadvantages in the process of Chinese firm internationalization. Advances in International Management, 24: 235269.CrossRefGoogle Scholar
*Marinova, S., Child, J., & Marinov, M. 2012. Institutional field for outward direct investment: A theoretical extension? Advances in International Management, 25: 233261.CrossRefGoogle Scholar
Mathews, J. A. 2006. Dragon multinationals: New players in 21st century globalization. Asia Pacific Journal of Management, 23(1): 527.CrossRefGoogle Scholar
Mitchell, R. K., Agle, B., & Wood, D. 1997. Toward a theory of stakeholder identification and salience. Academy of Management Review, 22: 975996.Google Scholar
Ministry of Commerce, China (MOC). 2012. 2011 Statistical Bulletin of China's outward foreign direct investment. Beijing, China: China Statistics Press.Google Scholar
*Morck, R., Yeung, B., & Zhao, M. 2008. Perspectives on China's outward foreign direct investment. Journal of International Business Studies, 39(3): 337350.CrossRefGoogle Scholar
*Ning, L. 2009. China's leadership in the world ICT industry. Pacific Affairs, 82(1): 6791.Google Scholar
*Ning, L., & Sutherland, D. 2012. Internationalization of China's private-sector MNEs. Thunder-bird International Business Review, 54(2): 169182.Google Scholar
*Niosi, J., & Tschang, F. T. 2009. The strategies of Chinese and Indian software multinationals: Implications for internationalization theory. Industrial and Corporate Change, 18(2): 269294.Google Scholar
*Nolan, P., & Zhang, J. 2002. The challenge of globalization for large Chinese firms. World Development, 30(12): 20892107.Google Scholar
*Nolan, P., & Zhang, J. 2003. Globalization challenge for large firms from developing countries. European Management Journal, 21(3): 285299.Google Scholar
*Pei, C. H., & Wang, L. 2001. Chinese corporate investment in the United States. China & World Economy, 5(1): 1722.Google Scholar
*Peng, M. W. 2012. The global strategy of emerging multinationals from China. Global Strategy Journal, 2(2): 97107.Google Scholar
*Peng, M. W., Sun, S. L., & Blcvins, D. P. 2011. The social responsibility of international business scholars. Multinational Business Review, 19(2): 106119.Google Scholar
Pfeffer, J. 1993. Barriers to the advance of organization science: Paradigm development as a dependent variable. Academy of Management Review, 18: 599620.Google Scholar
Pfeffer, J., & Salancik, G. R. 1978. The external control of organizations: A resource dependence perspective. New York: Harper & Row.Google Scholar
*Prange, C. 2012. Ambidextrous internationalization strategies: The case of Chinese firms entering the world market. Organizational Dynamics, 41(2): 245253.CrossRefGoogle Scholar
*Quer, D., Claver, E., & Rienda, L. 2012. Political risk, cultural distance, and outward foreign direct investment. Asia Pacific Journal of Management, 29(4): 10891104.Google Scholar
Ramamurti, R., & Singh, J. V. (Eds.). 2009. Emerging multinationals in emerging markets. New York: Cambridge University Press.CrossRefGoogle Scholar
*Ramasamy, B., Yeung, M., & Laforet, S. 2012. China's outward foreign direct investment: Location choice and firm ownership. Journal of World Business, 47(1): 1725.CrossRefGoogle Scholar
*Rugman, A. 2010. Globalization, regional multinationals and Asian economic development. Asian Business & Management, 9(3): 299317.CrossRefGoogle Scholar
*Rugman, A. M., & Li, J. 2007. Will China's multinationals succeed globally or regionally? European Management Journal, 25(5): 333343.CrossRefGoogle Scholar
*Rui, H., & Yip, G. 2008. Foreign acquisitions by Chinese firms: A strategic intent perspective. Journal of World Business, 43(2): 213226.Google Scholar
*Sautman, B., & Yan, H. 2008. The forest for the trees: Trade, investment and the China-in-Africa discourse. Pacific Affairs, 81(1): 929.CrossRefGoogle Scholar
Sauvant, K., McAllisteer, G., & Maschek, W. A. 2010. Foreign direct investment from emerging markets: The challenges ahead. New York: Palgrave Macmillan.CrossRefGoogle Scholar
*Sethi, D. 2009. Is international business strategy global or regional? European Management Journal, 27(5): 356365.Google ScholarPubMed
*Shieh, B.-L., & Wu, T.-C. 2012. Equity-based entry modes of the Greater Chinese Economic Area's foreign direct investments in Vietnam. International Business Review, 21(3): 508517.Google Scholar
*Song, H. 2011. Chinese private direct investment and the overseas Chinese network in Africa. China & World Economy, 19(4): 109126.Google Scholar
*Song, L., Yang, J., & Zhang, Y. 2011. State-owned enterprises’ outward investment and the structural reform in China. China & World Economy, 19(4): 3853.Google Scholar
*Steinfeld, E. S. 2004. China's shallow integration: Networked production and the new challenges for late industrialization. World Development, 32(11): 19711987.CrossRefGoogle Scholar
*Su, X. 2012. Rescaling the Chinese state and regionalization in the Great Mekong Subregion. Review of International Political Economy, 19(3): 501527.Google Scholar
*Sun, S. L. 2009. Internationalization strategy of MNEs from emerging economies: The case of Huawei. Multinational Business Review, 17(2): 133159.Google Scholar
*Sun, S. L., Peng, M., Ren, B., & Yan, D. 2012. A comparative ownership advantage framework for cross-border M & As. Journal of World Business, 47(1): 416.Google Scholar
*Sutherland, D. 2009. Do China's ‘national team’ business groups undertake strategic-asset-seeking OFDI? Chinese Management Studies, 3(1): 1124.CrossRefGoogle Scholar
*Sutherland, D., & Ning, L. 2011. Exploring Onward-journey1 ODI strategies in China's private sector businesses. Journal of Chinese Economic and Business Studies, 9(1): 4365.CrossRefGoogle Scholar
*Taylor, R. 2002. Globalization strategies of Chinese companies: Current developments and future prospects. Asian Business and Management, 1(2): 209225.CrossRefGoogle Scholar
*Teagarden, M., & Cai, D. 2009. Learning from dragons who are learning from us. Organizational Dynamics, 38(1): 7381.CrossRefGoogle Scholar
*Tolentino, P. E. 2010. Emerging multinationals: Outward foreign direct investment from emerging and developing economies. Journal of International Management, 16(2): 102120.Google Scholar
Tsui, A. S. 2004. Contributing to global management knowledge: A case for high quality indigenous research. Asia Pacific Journal of Management, 21(4): 491513.CrossRefGoogle Scholar
Tsui, A. S., Schoonhoven, C. B., Meyer, M. W., Lau, C. M., & Milkovich, G. T. 2004. Organization and management in the midst of societal transformation. Organization Science, 15(2): 133144.CrossRefGoogle Scholar
Tsui, A. S., Nifadkar, S. S., & Ou, A. Y. 2007. Cross-national, cross-cultural organizational behavior research: Advances, gaps, and recommendations. Journal of Management, 33(3): 426478.CrossRefGoogle Scholar
*Tull, D. 2006. China's engagement in Africa: Scope, significance and consequences. The Journal of Modern African Studies, 44(3): 459479.Google Scholar
UNCTAD. 2013. World investment report 2013. New York and Geneva: UNCTAD.Google Scholar
*Vaara, E., & Zhang, N. 2012. The intertextual production of international relations in mergers and acquisitions. Organization Studies, 33(1): 121148.Google Scholar
*Voss, H., Buckley, P. & Cross, A. 2010. The impact of home country institutional effects on the internationalization strategy of Chinese firms. Multinational Business Review, 18(3): 2548.Google Scholar
*Wang, C., Hong, J., Kafourosd, M., & Boatenge, A. 2012. What drives outward FDI of Chinese firms? International Business Revievu, 21(3): 425438.Google Scholar
*Wang, M. Y. 2002. The motivations behind China's government-initiated industrial investment overseas. Pacific Affairs, 75(2): 187206.Google Scholar
*Warner, M., Ng, S.-H., & Xu, X. 2004. Late development's experience and the evolution of transnational firms in the P. R. of China. Asia Pacific Business Revievu, 10(3): 324345.CrossRefGoogle Scholar
*Wei, Z. 2010. The literature on Chinese outward FDI. Multinational Business Review, 18(3): 73112.Google Scholar
*Williamson, P. J. & Raman, A. P. 2011. How China reset its global acquisition strategy. Harvard Business Revievu, 89(4): 109114.Google Scholar
*Wong, J., & Chan, S. 2003. China's outward direct investment: Expanding worldwide. China: An International Journal, 1(2): 273301.Google Scholar
*Wu, F., Hoon, L. S., Zhang, Y. 2011. Dos and don'ts for Chinese companies investing in the United States. Thunderbird International Business Review, 53(4): 501515.Google Scholar
*Wu, H.-L., & Chen, C.-H. 2001. An assessment of outward foreign direct investment from China's transitional economy. Europe-Asia Studies, 53(8): 12351254.Google Scholar
*Xie, Y., & Amine, L. 2010. Social networks and the internationalization of Chinese entrepreneurs. Global Business and Organizational Excellence, 29(1): 6178.Google Scholar
*Yamakawa, Y., Peng, M. W., & Deeds, D. L. 2008. What drives new ventures to internationalize from emerging to developed economies? Entrepreneurship Theory and Practice, 32(1): 5982.CrossRefGoogle Scholar
*Yang, M. 2009. Isomorphic or not? Examining cross-border mergers and acquisitions by Chinese firms, 1985-2006. Chinese Management Studies, 3(1): 4357.Google Scholar
*Yang, X., Jiang, Y., Kang, R., & Ke, Y. 2009a. A comparative analysis of the internationalization of Chinese and Japanese firms. Asia Pacific Journal of Management, 26: 141162.Google Scholar
*Yang, X., Lim, Y., Sakurai, Y., Seo, S. 2009b. Internationalization of Chinese and Korean firms. Thunderbird International Business Review, 51(1): 3751.Google Scholar
*Yeung, H. W.-C., & Liu, W. 2008. Globalizing China: The rise of Mainland firms in the global economy. Eurasian Geography and Economics, 49(1): 5786.Google Scholar
*Yiu, D. W. 2011. Multinational advantages of Chinese business groups: A theoretical exploration. Management and Organization Review, 7(2): 249277.Google Scholar
*Yiu, D. W., Lau, C.-M., & Bruton, G. D. 2007. International venturing by emerging economy firms. Journal of International Business Studies, 38(4): 519540.Google Scholar
*Yuan, L., & Pangarkar, N. 2010. Inertia versus mimicry in location choices by Chinese multinationals. International Marketing Review, 27(3): 295315.Google Scholar
Zaheer, S. 1995. Overcoming the liability of foreignness. Academy of Management Journal, 38: 341364.CrossRefGoogle Scholar
Zahra, S. A., & Newey, L. R. 2009. Maximizing the impact of organization science. Journal of Management Studies, 46(6): 10591075.CrossRefGoogle Scholar
*Zeng, M., & Williamson, P. J. 2003. The hidden dragons. Harvard Business Review, 81(10): 9299.Google ScholarPubMed
*Zhang, J., Zhou, C., & Ebbers, H. 2011. Completion of Chinese overseas acquisitions: Institutional perspectives and evidence. International Business Review, 20(2): 226238.CrossRefGoogle Scholar
*Zhang, X., Ma, X., & Wang, Y. 2012. Entrepreneurial orientation, social capital, and the internationalization of SMEs. Thunderbird International Business Review, 54(2): 195210.CrossRefGoogle Scholar
*Zhao, H. 2011. The expansion of outward EDI: A comparative study of China and India. China: An International Journal, 9(1): 125.Google Scholar
*Zhao, W., Liu, L., & Zhao, T. 2010. The contribution of outward direct investment to productivity changes within China, 1991-2007. Journal of International Management, 16(2): 121130.Google Scholar
*Zhou, L. 2007. The effects of entrepreneurial proclivity and foreign market knowledge on early internationalization. Journal of World Business, 42(3): 281293.Google Scholar
*Zhou, L., Wu, W., & Luo, X. 2007. Internationalization and the performance of born-global SMEs. Journal of International Business Studies, 38(4): 673690.Google Scholar
*Zhou, Y., & Schüller, M. 2009. The internationalization of Chinese companies. Chinese Management Studies, 3(1): 2542.Google Scholar
*Zou, H., & Ghauri, P. 2010. Internationalizing by learning: The case of Chinese high-tech newventures. International Marketing Review, 27(2): 223244.Google Scholar

Send article to Kindle

To send this article to your Kindle, first ensure is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about sending to your Kindle. Find out more about sending to your Kindle.

Note you can select to send to either the or variations. ‘’ emails are free but can only be sent to your device when it is connected to wi-fi. ‘’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

Chinese Outward Direct Investment Research: Theoretical Integration and Recommendations
Available formats

Send article to Dropbox

To send this article to your Dropbox account, please select one or more formats and confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your <service> account. Find out more about sending content to Dropbox.

Chinese Outward Direct Investment Research: Theoretical Integration and Recommendations
Available formats

Send article to Google Drive

To send this article to your Google Drive account, please select one or more formats and confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your <service> account. Find out more about sending content to Google Drive.

Chinese Outward Direct Investment Research: Theoretical Integration and Recommendations
Available formats

Reply to: Submit a response

Your details

Conflicting interests

Do you have any conflicting interests? *