Chung-Ming Lau

Bio: Chung-Ming Lau is an academic researcher from The Chinese University of Hong Kong. The author has contributed to research in topics: Emerging markets & Corporate governance. The author has an hindex of 31, co-authored 49 publications receiving 9090 citations.

Strategy in Emerging Economies

Abstract: Emerging economies are low-income, rapid-growth countries using economic liberalization as their primary engine of growth. They fall into two groups: developing countries in Asia, Latin America, Africa, and the Middle East and transition economies in the former Soviet Union and China. Private and public enterprises have had to develop unique strategies to cope with the broad scope and rapidity of economic and political change in emerging economies. This Special Research Forum on Emerging Economies examines strategy formulation and implementation by private and public enterprises in several different regional settings and from three primary theoretical perspectives: institutional theory, transaction cost economics, and the resource-based view of the firm. In this introduction, we show how different theoretical perspectives can provide useful insights into enterprise strategies in emerging economies. We discuss the special methodological as well as empirical challenges associated with doing research in emer...

International venturing by emerging economy firms: the effects of firm capabilities, home country networks, and corporate entrepreneurship

Abstract: Past literature on foreign direct investment generally supports an economics perspective that there is a direct relationship between firm-specific ownership advantages and international expansion. However, in emerging economies, with their institutional environment context characterized by low resource munificence and continuous economic liberalization, a theoretical extension of the current perspective is needed. This paper introduces new parameters by focusing on specific ownership advantages and strategic actions that firms have to develop in response to the institutional characteristics of the emerging economies when they decide to pursue outward FDI. The focus here is on international venturing that requires a firm to engage in activities for new business creation in a foreign country rather than simply seek to distribute a product in another nation. It is shown empirically that the relationship between firm-specific ownership advantages and international venturing is moderated by the degree of home industry competition and export intensity. In addition, such a relationship is mediated by the intensity of corporate entrepreneurial transformation in the form of innovation, new business creation, and strategic renewal.

Asset-Exploitation Versus Asset-Seeking: Implications for Location Choice of Foreign Direct Investment from Newly Industrialized Economies

Abstract: This study examined several hypotheses regarding the location choice of foreign direct investment from newly industrialized economies (NIEs). Using a sample of 328 Taiwanese firms in the analysis, this study found that the firms’ motivations had a significant impact on the choice of their investment location (developed countries vs. less developed countries), yet this impact was moderated by the capabilities that the firms possessed. The results suggest that both asset-exploitation and asset-seeking aspects of investments are predictive of the NIE firms’ location choice of investment.

A Cross-Cultural Cognitive Model of New Venture Creation:

Abstract: In examining the global landscape, it is clear that some cultures produce many more entrepreneurs than others. To explore this phenomenon, we take a cognitive perspective because it is assumed that...

Estimation and Inference in Econometrics

Abstract: Offering a unifying theoretical perspective not readily available in any other text, this innovative guide to econometrics uses simple geometrical arguments to develop students' intuitive understanding of basic and advanced topics, emphasizing throughout the practical applications of modern theory and nonlinear techniques of estimation. One theme of the text is the use of artificial regressions for estimation, reference, and specification testing of nonlinear models, including diagnostic tests for parameter constancy, serial correlation, heteroscedasticity, and other types of mis-specification. Explaining how estimates can be obtained and tests can be carried out, the authors go beyond a mere algebraic description to one that can be easily translated into the commands of a standard econometric software package. Covering an unprecedented range of problems with a consistent emphasis on those that arise in applied work, this accessible and coherent guide to the most vital topics in econometrics today is indispensable for advanced students of econometrics and students of statistics interested in regression and related topics. It will also suit practising econometricians who want to update their skills. Flexibly designed to accommodate a variety of course levels, it offers both complete coverage of the basic material and separate chapters on areas of specialized interest.

Consequences of individuals' fit at work: a meta-analysis of person-job, person-organization, person-group, and person-supervisor fit

Abstract: This meta-analysis investigated the relationships between person‐job (PJ), person‐organization (PO), person‐group, and person‐supervisor fit with preentry (applicant attraction, job acceptance, intent to hire, job offer) and postentry individual-level criteria (attitudes, performance, withdrawal behaviors, strain, tenure). A search of published articles, conference presentations, dissertations, and working papers yielded 172 usable studies with 836 effect sizes. Nearly all of the credibility intervals did not include 0, indicating the broad generalizability of the relationships across situations. Various ways in which fit was conceptualized and measured, as well as issues of study design, were examined as moderators to these relationships in studies of PJ and PO fit. Interrelationships between the various types of fit are also meta-analyzed. 25 studies using polynomial regression as an analytic technique are reviewed separately, because of their unique approach to assessing fit. Broad themes emerging from the results are discussed to generate the implications for future research on fit.

Crafting a Job: Revisioning Employees as Active Crafters of Their Work

Abstract: We propose that employees craft their jobs by changing cognitive, task, and/or relational boundaries to shape interactions and relationships with others at work. These altered task and relational configurations change the design and social environment of the job, which, in turn, alters work meanings and work identity. We offer a model of job crafting that specifies (1) the individual motivations that spark this activity, (2) how opportunities to job craft and how individual work orientations determine the forms job crafting takes, and (3) its likely individual and organizational effects.

An institution-based view of international business strategy: a focus on emerging economies

Abstract: Leveraging the recent research interest in emerging economies, this Perspective paper argues that an institution-based view of international business (IB) strategy has emerged. It is positioned as one leg that helps sustain the “strategy tripod” (the other two legs consisting of the industry- and resource-based views). We then review four diverse areas of substantive research: (1) antidumping as entry barriers; (2) competing in and out of India; (3) growing the firm in China; and (4) governing the corporation in emerging economies. Overall, we argue that an institution-based view of IB strategy, in combination with industry- and resource-based views, will not only help sustain a strategy tripod, but also shed significant light on the most fundamental questions confronting IB, such as “What drives firm strategy and performance in IB?”