Entrepreneurship and the Internationalisation of Asian Firms
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Entrepreneurship and the Internationalisation of Asian Firms

An Institutional Perspective

Henry Wai-chung Yeung

This book applies an institutional perspective on transnational entrepreneurship to empirical investigations of transnational corporations (TNCs) from Hong Kong and Singapore. Henry Wai-chung Yeung argues that significant variations in institutional structures of home countries explain variations in the entrepreneurial endowments of prospective transnational business networks. This is illustrated by empirical data from two in-depth studies of over 300 TNCs from Hong Kong and Singapore and over 120 of their foreign affiliates in Asia.
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Chapter 6: Conclusion: Developing Entrepreneurship in International Business

An Institutional Perspective

Henry Wai-chung Yeung


Changes in the rules and other attendant circumstances can, of course, modify the composition of the class of entrepreneurs and can also alter its size . . . But if what is required is the adjustment of rules of the game to induce a more felicitous allocation of entrepreneurial resources, then the policymaker’s task is less formidable, and it is certainly not hopeless. The prevailing rules that affect the allocation of entrepreneurial activity can be observed, described, and, with luck, modified and improved. (William Baumol, 1990: 894) ENTREPRENEURSHIP AND THE INTERNATIONALISATION OF ASIAN FIRMS: A SUMMARY In Chapter 1, three analytical questions are raised to set the research agenda of this book. These questions concerned the rationales, mechanisms, and successes of cross-border operations by transnational entrepreneurs and/or intrapreneurs. These questions emanate from an institutional perspective on entrepreneurship in international business. This institutional perspective argues that significant variations in the institutional structures of home countries explain variations in the entrepreneurial endowments and resources of prospective transnational entrepreneurs and intrapreneurs. These structures also form and enforce conventions, values, views, norms, practices, and ‘rules of the game’ to shape the logic governing economic decision-making and actions, and market processes. Once embedded in these institutional structures, transnational entrepreneurs and/or intrapreneurs have differential abilities and access to make use of their entrepreneurial endowments and resources for international business activities. Home country institutional structures and business systems significantly shape these endowments and resources. Moreover, whether specific transnational entrepreneurs and/or intrapreneurs succeed in establishing...

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