Marc van Essen
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Prof. Dr.
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van Essen
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Marc

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Nothing Ventured, Nothing Gained: A Meta-Analysis of CEO Overconfidence, Strategic Risk Taking, and Performance

2022-07-21 , Burkhard, Barbara , Siren, Charlotta , van Essen, Marc , Grichnik, Dietmar , Shepherd, Dean A.

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Business Groups Reconsidered: Beyond Paragons and Parasites

2018 , Carney, Michael , van Essen, Marc , Estrin, Saul , Shapiro, Daniel

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Corporate Governance in China: A Meta-Analysis

2018 , Mutlu, Canan , van Essen, Marc , Peng, Mike , Saleh, Sabrina , Duran, Patricio

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Cultural distance and the process of firm internationalization : A meta-analytical review and theoretical implications.

2017-09-08 , Beugelsdijk, Sjoerd , Kostova, Tatiana , Kunst, Vincent E. , Spadafora, Ettore , van Essen, Marc

This paper presents the most comprehensive review and meta-analysis of the literature on cultural distance and firm internationalization to date. We analyze the effects of cultural distance on key strategic decisions throughout the entire process of internationalization. For the preinvestment stage, we examine the decisions on where to invest (location choice), how much to invest (degree of ownership), and how to organize the foreign expansion (entry and establishment mode). For the postinvestment stage, we examine the decisions of how to integrate the foreign subsidiary into the organization (transfer of practices) as well as the performance effects of cultural distance at both the subsidiary and the firm level. We find that firms are less likely to expand to culturally distant locations but if they do, they prefer greenfield investments and integrate subsidiaries more through transfer of management practices. Cultural distance does not seem to affect how much capital firms invest and whether they enter through a joint venture or full ownership. Interestingly, cultural distance has a strong negative effect on subsidiary performance but no effect on the performance of the whole multinational company. In addition, we find that the effects of cultural distance are not sensitive to time, but they are sensitive to the cultural framework used (e.g., Hofstede vs. Global Leadership and Organizational Behavior Effectiveness) and the home country of the company (developed vs. emerging market). Based on our study, we feel confident to offer some theoretical insights, recommendations for improving the validity and reliability of cultural-distance research, and ideas for future research.

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Publication

A Meta-Analytic Approach to Understanding the Effects of CEO Overconfidence on Firm Performance

2018-08-15 , Burkhard, Barbara , Sirén, Charlotta , van Essen, Marc , Grichnik, Dietmar

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Heterogeneity of political connections and outward foreign direct investment

2018 , Deng, Ziliang , Yan, Jiayan , van Essen, Marc

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Proxy Advisors and Shareholder Dissent: A Cross-Country Comparative Study

2018 , Sauerwald, Steve , van Oosterhout, Hans , van Essen, Marc , Peng, Mike

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Which Firms Get Punished for Unethical Behavior? Explaining Variation in Stock Market Reactions to Corporate Misconduct

2018 , Carberry, Edward , Engelen, Peter-Jan , van Essen, Marc

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The impact of institutions on the competitive advantage of publicly listed family firms in emerging markets

2018 , Duran, Patricio , van Essen, Marc , Heugens, Pursey , Kostova, Tatiana , Peng, Mike

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Why Is Family Firms' Internationalization Unique? A Meta-Analysis

2017-08-15 , Arregle, Jean-Luc , Duran, Patricio , Hitt, Michael , van Essen, Marc

Despite its importance, there is no clear understanding of the uniqueness of family firms' internationalization. This article sheds new light on this issue with a meta-analysis of 76 studies covering 41 countries. We show that the considerable study and cross-country differences in the relationship between family firm and internationalization are explained by the roles of family control, internationalization types, and home countries' institutional contexts (i.e., minority shareholders protection and generalized trust of people from other countries). Therefore, we examine the existing divergent results using theories that reconcile some of these mixed findings and shed light on family firms' specific internationalization challenges.

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