Journal of International Management 9 (2003) 193 213

The evolving contributions in international strategic management research

Jane W. Lu*
Department of Business Policy, National University of Singapore, 1 Business Link, 117592 Singapore

Abstract In this study, I systematically investigate the evolving contributions and gaps that exist in the international strategic management (ISM) literature. The research I present here reviews leading international business and strategic management journals from 1991 through 2000. The research investigates the topics that have been examined in ISM research, theoretical perspectives employed, outlets for publication, and the breadth of contributions to ISM research. The article also highlights areas in the literature that may provide promising avenues for future research. D 2003 Elsevier Science Inc. All rights reserved.
Keywords: International management; Strategic management; Review

1. Introduction International strategic management (ISM) research saw rapid growth through the 1980s (Ricks et al., 1990) and the 1990s (Werner, 2002). Although efforts have been made to review this growing literature, a systematic review and update of the international management literature could help managers to alter and improve their management activities and academics to build on existing research. In this article, I review ISM studies to highlight areas in which key contributions have been made and to identify areas in which further work could be conducted. I make

* Tel.: +65-6874-1695; fax: +65-6779-5059. E-mail address: bizluj@nus.edu.sg (J.W. Lu). 1075-4253/03/$ see front matter D 2003 Elsevier Science Inc. All rights reserved. doi:10.1016/S1075-4253(03)00006-1

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this review of ISM studies by examining several leading strategic management and international management journals to highlight topics investigated in ISM studies. I consider these topics in terms of the major research streams in strategic management, which include the environment, leadership and organization, strategy, and performance (Summer et al., 1990), to understand how ISM research has evolved in the past 1015 years. I also examine the evolution of theoretical perspectives employed in these ISM studies. In this review, I also consider how different publication outlets have been used to develop ISM research. My review next considers institutional and author contributions to ISM research to identify leading institutions and authors and to examine the diversity of contributors to ISM research. A wide and diverse base of scholars helps generate a multiplicity of paradigms and avoids the development of strong cultural biases in ISM research (Thomas et al., 1994). After making this form of review, I try to identify areas of research that require further work. I make this identification in the hope of providing some guide as to what directions could prove to be promising for future ISM research to aid managers understanding of ISM topics. In the mid-1990s, Lohrke and Bruton (1997) (hereafter LB) completed a comprehensive analysis of the ISM literature. I extend their work by adding five new years of data, with their data and analyses from 1991 to 1995 used essentially as is. This article, thus, has consistency in methodology, structure, and content, which enables a ready comparison of the developments in ISM research to the year 2000.

2. Research domain The Academy of Management provides the following definition of the domain of strategic management. Roles and problems of general managersthose who manage multi-business or multifunctional business units. Major topics include: strategic formulation and implementation; strategic planning and decision processes; strategic control and reward systems; resource allocation; diversification and portfolio strategies; competitive strategy; selection and behavior of general managers; and the composition of top management teams. I used this definition to identify which strategic management journals to review for international management related research. Using MacMillans (1991) survey of the quality of several journals as outlets for strategic management research, LB identified journals of outstanding quality as the ones for their review. Those of significant quality and appropriate quality were not included. I followed the same classification as journals rated as significant or appropriate quality have been shown to change their ratings substantially over time (MacMillan, 1989, 1991). The six journals I reviewed for

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their ISM contributions were Academy of Management Journal, Academy of Management Review, Administrative Science Quarterly, Harvard Business Review, Management Science, and Strategic Management Journal. Unlike the strategic management literature, the bounds of international management research are not as well defined (Ricks et al., 1990). LB and I used the definition of international management as provided by Ricks (1991). . . .The core of international business research deals with the multinational enterprise (MNE), the exporting or importing firm, and the problems encountered by these firm. Topics of importance include: the theory of the MNE; the role of the MNE; MNE versus domestic corporation issues; government MNE issues; the problems of managing international trade, and also functionally oriented topics such as international financial management, international marketing management, international accounting management, international strategy, international management, etc. . .Studies which describe how business is done in one country are not considered international business research, but comparative studies are. As with the definition, journal rankings are not as clear-cut in international management research as in strategic management research. In one sense, the growth of international management research has been reflected positively in the proliferation of international journals. In another sense, this proliferation creates concerns about the quality of journals (Dunning, 1989). The quality of international management journals has improved, and is improving, over time (Aulakh and Kotabe, 1993), but the number of high quality journals devoted to international management research is less than that for strategic management research. Aside from LB, several studies point to three leading international management journals (Ebrahimi et al., 1991; Dubois et al., 2000; Aulakh and Kotabe, 1993; Madura and McCarty, 1989; Morrison and Inkpen, 1991; Thomas et al., 1994). These journals are (Columbia) Journal of World Business, Journal of International Business Studies, and Management International Review. After developing this list of nine journals, I looked for articles that could be included in the sample. For an article to be included, it had to be published in one of these nine journals and meet criteria for both strategic management and international management.

3. Methodology The genealogy of the classification system I used for ISM research has its most immediate forebear in Shrivastavas (1987) review of the strategic management literature. Shrivastavas classification system was drawn from Schendel and Hofer (1979). LB made minor changes to eventually make Shrivastavas and Schendel and Hofers classification schemes relevant to ISM research. I took LBs system as the base for my classification, but extended it to include two new categories: internal coordination and scenario development.

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4. Results LB followed a system of multiple rater assessments of articles to identify articles falling into the domain of ISM research. LBs original review identified 222 articles, of which 170 were selected by both Lohrke and Bruton. Fifty-two articles were identified by one or the other author. After reviewing these 52 articles together, LB considered 15 to be outside the domain of ISM research, leaving a sample of 207 ISM articles, 134 of which were for the 19911995 period. I followed a similar process for drawing articles for the 19962000 period. Two ISM scholars reviewed all publications in the nine journals over this period. The two scholars identified a total of 291 ISM articles. One hundred and ninety-two of these articles were identified by both scholars for an agreement rate of 66%. This list was then reviewed by a third scholar. First, a third scholar suggested that 14 of the 192 articles did not meet the specified criteria, which was confirmed after discussions among all three scholars. Next, the third scholar reviewed the 99 other articles that only one of the two initial scholars originally selected as relevant. Another 18 articles were not considered to be in the domain of ISM research, leaving an additional 81 articles to be added to the base of 178 for a total of 259 articles. I added these 259 articles to LBs 19911995 total of 134 articles for a grand total to 393. Table 1 summarizes these articles and the categories to which they relate. 4.1. Environment The first category listed in Table 1 is the environment. LB define the environment according to developments about open-system views of organizations (Andrew, 1971; Katz and Kahn, 1966) in which environmental forces represent key variables for firms (Summer et al., 1990). ISM studies examining environmental topics can be categorized into three groups. The first group concerns studies about a firms general or industry environment in which research has looked at perceived environmental uncertainty (e.g., Shrader et al., 2000), environmental forces behind a firms success in a given location (e.g., Sanchez and McKinley, 1995; Shaver and Flyer, 2000) and forces influencing a firms decision to invest in a given location (e.g., Loree and Guisinger, 1995). The second group concerns analysis of the cultural environment. This research stream has been very rich. It involves both the identification of dimensions of culture relevant to international operations, as well as tests of how cultural variance influences firm strategy and performance. The third group concerns political risk analysis. Political variance is greater crossnationally than subnationally (Boddewyn and Brewer, 1994). Political forces can have adverse influences on a firms profitability or inhibit its pursuit of its goals (Clegg et al., 1996). The broad trend across these three groups has been from theory development to theory testing, as one might expect, but the focus on the latter, even to 2000, has not been as extensive as it could have been. Developments in the latter half of the 1990s have led to

J.W. Lu / Journal of International Management 9 (2003) 193213 Table 1 Summary of ISM literaturea Environment Environmental/industry analysis

197

Culture (national)

Scenario development/political risk analysis

Birkinshaw and Hood (2000), Ghemawat and Ghadar (2000), Shaver and Flyer (2000), Shrader et al. (2000), Thomas III and Waring (1999), Miller and Reuer (1998), Anand and Kogut (1997), Tse et al. (1997), Hanon (1996), Peng and Heath (1996), Rivoli and Salorio (1996), Werner et al. (1996), Elenkov (1995), Loree and Guisinger (1995), Sanchez and McKinley (1995), Miller (1993),Woodward and Rolfe (1993), Grant (1991), Kogut (1988), and Rosenzweig and Singh (1991) Makino and Neupert (2000), Salk and Brannen (2000), Steensma et al. (2000), Steensma et al. (2000), Hennart and Larimo (1998), Morosini et al. (1998), Gomez-Mejia and Palich (1997), Barkema et al. (1996), OGrady and Lane (1996), Franke et al. (1991), and Schneider and DeMeyer (1991) Delios and Henisz (2000), Uhlenbruck and De Castro (2000), Nehrt (1998), Rugman and Kirton (1998), Rugman and Verbeke (1998), Clegg et al. (1996), Brouthers (1995), Vachani (1995), Boddewyn and Brewer (1994), and Howell and Chaddick (1994)

Leadership and organization Internal coordination

Boards of directors

Decision-making

Structure

Culture (corporate)

Andersson and Forsgren (2000), Furu (2000), Gupta and Govindarajan (2000), Hakanson and Nobel (2000), Lindqvist et al. (2000), Teigland et al. (2000), Gupta et al. (1999), Lehrer and Asakawa (1999), ODonnell (1999), St. John et al. (1999), Zeira and Newburry (1999), Birkinshaw et al. (1998), Nobel and Birkinshaw (1998), Birkinshaw (1997), Dasu and De La Torre (1997), Anderson and Fredriksson (1996), Birkinshaw (1996), Apte and Mason (1995), Birkinshaw and Morrison (1995), Gencturk and Aulakh (1995), Johnson (1995), Kim and Campbell (1995), Murray et al. (1995), Murray et al. (1995), Roth (1995), Zaheer (1995), Daniel and Reitsperger (1994), Ghoshal et al. (1994), Sohn (1994), Kao (1993), Bartlett and Ghoshal (1992), Roth (1992), Sundaram and Black (1992), Gupta and Govindarajan (1991), Kobrin (1991), and Martinez and Jarillo (1991) Daily et al. (2000), Athanassiou and Nigh (1999), Athanassiou and Nigh (1999), Kedia and Mukherji (1999), Li et al. (1999), Beldona et al. (1998), Murtha et al. (1998), Sanders and Carpenter (1998), Eriksson et al. (1997), Geletkanycz (1997), Hitt et al. (1997), Krug and Hegarty (1997), Sambharya (1996), and Kriger (1991) Baldauf et al. (2000), Mitchell et al. (2000), Seth et al. (2000), Padmanabhan and Cho (1999), Shaver (1998), Kumar and Subramaniam (1997), Calori et al. (1994), Kobrin (1994), Roth and Ricks (1994), Jones et al. (1992), and Kriger and Solomon (1992) Beamish et al. (1999), Martin et al. (1998), Rubach and Sebora (1998), Kuemmerle (1997), Allen and Pantzalis (1996), Liouville and Nanopoulos (1996), Malnight (1996), and Habib and Victor (1991) Very et al. (1997), Bates et al. (1995), Meschi and Rogers (1994), and Nohria and Ghoshal (1994) (continued on next page)

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Harzing (2000), Bensaou et al. (1999), Birkinshaw and Hood (1998), Rugman and Verbeke (1998), Kutschker and Baurle (1997), Kutschker et al. (1997), Taggart (1997), Carpano et al. (1994), Morrison and Roth (1992), and Baden-Fuller and Stopford (1991) Enterprise strategy (social issues) Nigh and Cochran (1994) Corporate strategy formulation Calori et al. (2000), Peng and Wang (2000), Song et al. (1999), Burpitt and Rondinelli (1998), Dunning (1998), Gedajlovic and Shapiro (1998), Mudambi (1998), Peng and Ilinitch (1998), Taggart (1998), Yip et al. (1997), Anand and Delios (1996), Leonidou and Katsikeas (1996), Mascarenhas (1996), Taylor et al. (1996), Millington and Bayliss (1995), Birkinshaw et al. (1995), Fleenor (1993), Leong and Tan (1993), Oxelheim and Wihlborg (1991), and Sullivan and Bauerschmidt (1991) Corporate strategy Arnold (2000), Guillen (2000), Luo (2000), Madhok and Osegowitsch implementation (2000), Cantwell and Piscitello (1999), Kostova and Zaheer (1999), Kostova (1999), McCarthy and Puffer (1997), Vanhonacker (1997), Grosse (1996), Kim and Mauborgne (1996), Johansson and Yip (1994), Kim and Mauborgne (1993a,b), Kim and Mauborgne (1991), and Nohria and Garcia-Pont (1991) International diversification Arora and Fosfuri (2000), Autio et al. (2000), Bartlett and Ghoshal (2000), Brouthers and Brouthers (2000), Burton et al. (2000), Ellis (2000), Eriksson et al. (2000), Geringer et al. (2000), Loree et al. (2000), Mottner and Johnson (2000), Pan and Li (2000), Pan and Tse (2000), Ramamurti (2000), Reuer and Leiblein (2000), Zahra et al. (2000), Brouthers et al. (1999), Capron (1999), Delios and Beamish (1999), Delios and Beamish (1999), Gomes and Ramaswamy (1999), Hoopes (1999), Kuemmerle (1999), Liesch and Knight (1999), Luo and Peng (1999), Mascarenhas (1999), Mathews and Cho (1999), Pan and Chi (1999), Pan et al. (1999), Sarkar et al. (1999), Aulakh et tal. (1998), Barkema and Vermeulen (1998), Buckley and Casson (1998), Chen and Chen (1998), Contractor and Kundu (1998), Cui (1998), Katrishen and Scordis (1998), Lee and Caves (1998), Luo (1998), Penner-Hahn (1998), Anand and Delios (1997), Anderson (1997), Andersson et al. (1997), Hadjikhani (1997), Hennart and Reddy (1997), Hitt et al. (1997), Ito (1997), Khanna and Palepu (1997), Madhok (1997), Newburry and Zeira (1997), Oesterle (1997), Oviatt and McDougall (1997), Qian (1997), Shaver et al. (1997), Swan and Ettlie (1997), Williamson (1997), Banerji and Sambharya (1996), Fina and Rugman (1996), Nitsch et al. (1996), Padmanabhan and Cho (1996), Tallman and Li (1996), Tan and Vertinsky (1996), Brouthers et al. (1996), Aswicahyono and Hill (1995), Chang (1995), Datta and Puia (1995), Fladmoe-Lindquist and Jacque (1995), Kwon and Hu (1995), Li (1995), Malnight (1995), Mirza et al. (1995), Sambharya (1995), Hennart and Park (1994), Li (1994), Markides and Ittner (1994), Mitchell et al. (1994), Sullivan (1994), Woodcock et al. (1994), Hennart and Park (1993), Kim et al. (1993), Kish and Vasconcellos (1993), Mitchell et al. (1993), Agarwal and Ramaswami (1992), Kim and Hwang (1992), Mascarenhas (1992), Mitchell et al. (1992), Doz and Prahalad (1991), Erramilli (1991), Parkhe (1991), and Vachani (1991)

Strategy Strategy typologies

J.W. Lu / Journal of International Management 9 (2003) 193213 Table 1 (continued) Strategy Strategic alliances

199

Business-level strategy formulation

Business-level strategy implementation Turnaround/decline

Cullen et al. (2000), Dussage et al. (2000), Elg (2000), Hitt et al. (2000), Isobe et al. (2000), Kotabe et al. (2000), Merchant and Schendel (2000), Merchant (2000), Reuer and Koza (2000), Reuer (2000), Steensma and Lyles (2000), Child and Yan (1999), Glaister and Buckley (1999), Hennart et al. (1999), Hoon-Halbauer (1999), Tallman (1999), Tsang (1999), Walsh et al. (1999), Wang et al. (1999), Yan and Zeng (1999), Chang et al. (1998), Kashlak et al. (1998), Lin and Germain (1998), Luo (1998), Makino and Beamish (1998), Osland and Cavusgil (1998), Parkhe (1998), Sim and Ali (1998), Yan (1998), Barkema and Vermeulen (1997), Barkema et al. (1997), Baughn et al. (1997), Brouthers and Bamossy (1997), Dacin et al. (1997), Inkpen and Beamish (1997), Lei et al. (1997), Park and Ungson (1997), Reuer and Miller (1997), Buckley and Casson (1996), Chi and McGuire (1996), Hagedoorn and Narula (1996), Johnson et al. (1996), Lyles and Salk (1996), Lyles et al. (1996), Makino and Delios (1996), Nordberg et al. (1996), Pan and Tse (1996), Pan (1996), Bensaou and Venkatraman (1995), Cullen et al. (1995), Demirbag et al. (1995), Dussage and Garrette (1995), Elenkov (1995), Hagedoorn (1995), Kotabe and Swan (1994, 1995), Kumar (1995), Lee and Beamish (1995), Luo (1995), Madhok et al. (1995), Millington and Bayliss (1995), Beamish (1994), Hagedoorn and Schakenraad (1994), Kvint (1994), Lyles and Baird (1994), Tallman and Shenkar (1994a,b), Yan and Gray (1994), Abramson et al. (1993), Burgers et al. (1993), Hurry (1993), Lawrence and Vlachoutsicos (1993), Parkhe (1993), Schroath et al. (1993), Blodgett (1992), Hu et al. (1992), Hung (1992), Shenkar and Zeira (1992), Bleeke and Ernst (1991), Blodgett (1991), Geringer (1991), Geringer and Hebert (1991), Hamel (1991), Hennart (1991), Parkhe (1991), Shan (1991), and Shan and Hamilton (1991) Aulakh et al. (2000), Balabanis (2000), Brouthers et al. (2000), Davis et al. (2000), Domke-Damonte (2000), Abramson and Ai (1999), Aggarwal (1999), Buller and McEvoy (1999), Campa and Guillen (1999), Dawar and Frost (1999), Erdener and Torbiorn (1999), Hagigi et al. (1999), Myers (1999), ODonnell (1999), Tsurumi and Tsurumi (1999), Beamish and Inkpen (1998), Luo (1998), Miller and Parkhe (1998), Piercy et al. (1998), Stroh and Caligiuri (1998), Yan (1998), Erramilli et al. (1997), Ferdows (1997), Papanastassiou and Pearce (1997), Piercy et al. (1997), Tsang (1997), Chen (1999), Craig and Douglas (1996), Lyles and Steensma (1996), Nehrt (1996), Roth and ODonnell (1996), Bird and Beechler (1995), Kotha et al. (1995), Beamish et al. (1993), Dominguez and Sequeira (1993), Reitsperger et al. (1993), Swamidass and Kotabe (1993), Collis (1991), and Tallman (1991) Lord and Ranft (2000), Weldon and Vanhonacker (1999), Dyer et al. (1997), Holm et al. (1996), and Roth et al. (1991) Mata and Portugal (2000), Benito and Welch (1997), Stopford and Baden-Fuller (1994), and Parker and Helms (1992)

Performance Relative performance

a

Brouthers (1998), Hundley and Jacobson (1998), and Brown et al. (1994)

Reference information for the articles listed in this table can be accessed at: http://www.fba.nus.edu.sg/ depart/bp/bizluj/jim.htm.

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improvements in the quantification of heretofore difficult-to-operationalize items, which has facilitated the development of theory testing. In the 2000s, research is likely to continue in this direction. 4.2. Leadership and organization The next category in Table 1 is leadership and organization. Leadership and organization in ISM is most often equated with the first group of studies in this category, which is called internal coordination. Studies in this group tend to look at challenges involved in managing foreign subsidiaries. Such challenges include issues of the control (Nobel and Birkinshaw, 1998) and coordination (e.g., Martinez and Jarillo, 1991) of international subsidiaries. Research has also examined knowledge flows in the organization (e.g., Ghoshal et al., 1994; Gupta and Govindarajan, 1991) and a firms need for internal coordination (Roth, 1995). The second and third group of studies in this category are boards of directors and decisionmaking. Research on decision-making has focused on the effectiveness of planning (Jones et al., 1992), sometimes as contingent on the profiles and effectiveness of boards of directors (Kriger, 1991). The fourth group in this category is called structure, which is effectively organizational structure in which studies have investigated the performance implications of different structures (Habib and Victor, 1991). The final group has parallels with one of the groups from the environment category, culture, but this time concerns corporate culture issues (Very et al., 1997). The most significant development in this category in the 1990s has been on internal coordination and boards of directors issues. In the case of internal coordination, this attention likely results from practitioner and academic interest in the challenges associated with managing international subsidiaries. In the case of board of directors, the quantifiable nature of the data (e.g., directors ages and backgrounds) has no doubt helped stimulate empirical research in this area. 4.3. Strategy The next category is the largest and most vibrant areas of research among all the categories of research listed in Table 1. Strategy, defined as the combination of a firms present and planned resource deployments and its environmental interactions (Ansoff, 1965; Hofer and Schendel, 1978), can be analyzed at three different levels. The first level is enterprise strategy (Schendel and Hofer, 1979), which includes research topics such as social responsibility (Meznar et al., 1991) and stakeholder analysis (Freeman, 1984). The second level is corporate strategy, which includes research topics such as diversification, vertical integration, mergers and acquisitions, and internal venturing (Summer et al., 1990). The third level is business strategy, which includes research topics such as the choice of competitive weapons (e.g., cost, differentiation, focus) and product/market selection (Summer et al., 1990). Given the prevalence of environmental effects such as the Asian financial crisis, I have added a new group called turnaround strategy to classify studies investigating firms experiencing financial trouble.

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Across these groups and levels of research, corporate strategy was among the most vital areas of research in the 1990s. Research concerned with corporate strategy typologies, corporate strategy formulation and implementation, international diversification, and strategic alliances accounted for about half of all ISM research between 1991 and 2000, with international diversification and strategic alliances representing the two largest research streams. The choice and performance of diversification mode had been one of the most popular areas of research in the field of international business in the 1990s. Studies investigating diversification mode have focused on whether firms chose to diversify via internal development, licensing, joint venture, or acquisition (Barkema and Vermeulen, 1998; Pan and Tse, 2000). These studies have examined transaction cost (e.g., Agarwal and Ramaswami, 1992), cultural (e.g., Brouthers and Brouthers, 2000), and strategic (Delios and Beamish, 1999) effects on diversification mode. One notable trend is that much of the research on entry mode choice had moved its focus from the choice between foreign direct investment and licensing to the choice of foreign direct investment mode. Within this stream, several researchers have focused on the choice between greenfield and acquisition entries (e.g., Barkema and Vermeulen, 1998; Hennart and Reddy, 1998; Brouthers and Brouthers, 2000), while others have focused on the choice of subsidiary ownership structure (Makino and Beamish, 1998; Hennart and Larimo, 1998; Delios and Beamish, 1999; Makino and Neupert, 2000). A handful of researchers have examined the financial performance and survival implications of entry mode choice (Woodcock et al., 1994; Nitsch et al., 1996; Barkema et al., 1996; Makino and Beamish, 1998; Pan and Chi, 1999). A recent area of emerging research is on the timing of international diversification. This stream draws from a well-established literature in marketing, as it emerged in the 1990s in the field of international business (e.g., Mascarenhas, 1992; Mitchell et al., 1992, 1993, 1994; Tan and Vertinsky, 1996; Luo, 1998; Pan and Tse, 1999; Isobe et al., 2000). Studies investigating strategic alliances have examined the advantages and disadvantages of forming alliances as well as fundamental aspects of managing alliances (e.g., Beamish, 1994; Tallman and Shenkar, 1994). Researchers have increasingly turned to look at alliance formation by Western businesses in emerging markets, such as China (Luo, 1995; Shan, 1991), Russia (Lawrence and Vlachoutsicos, 1993), Turkey (Demirbag et al., 1995), Hungary, and Poland (Lyles and Baird, 1994). In business strategy studies, researchers have examined the performance implications of strategic choices (e.g., Beamish et al., 1993; Dominguez and Sequeira, 1993; Reitsperger et al., 1993). Business strategy research has also looked at strategy implementation issues (e.g., Roth et al., 1991). Meanwhile, research on enterprise strategy is considerably less dense (Nigh and Cochran, 1994). 4.4. Performance Research in ISM and strategy has the goal of understanding the performance implications of strategic choices to improve firm performance (Summer et al., 1990). Firm performance

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thus constitutes the fourth major category of research. There is much debate about what constitutes performance (Venkatraman and Ramanujam, 1986), and studies in this vein account for the majority of the research in this category. Comparative performance studies have looked at the performance of U.S. firms and firms from other countries. For example, Brown et al. (1991) compared financial statements of U.S. and Japanese firms using the COMPUSTAT and NEEDS databases. As can be noted by the presence of only few articles in this area, however, ISM studies have not yet examined this topic closely. Even so, the lack of studies in this category does not mean that researchers in ISM have not been concerned with performance. Indeed, it is the opposite case. A review of the other three categories shows that performance frequently emerges as key dependent variables in studies concerned with corporate strategy, business strategy, leadership, organizational, and environmental issues.

5. Theoretical perspectives Transaction cost theory and internalization theory have been the mainstream theoretical perspectives employed in ISM studies. Three other theoretical perspectives have emerged in the 1990s: institutional theory, organizational learning/knowledge management (OL/KM) theory, and the resource-based view of the firm (RBV). The application of institutional theory to international business has become quite popular in the 1990s. Many researchers have focused their attention to the institutional framework of national environments (e.g., Rosenzweig and Singh, 1991; Peng and Heath, 1996; Elenkov, 1997; Khanna and Palepu, 1997; Kostova, 1999; Kostova and Zaheer, 1999; Davis et al., 2000; Guillen, 2000). OL/KM theories have been applied to the research of international market expansion (Chang, 1995; Mathews and Cho, 1999), entry mode choice (Barkema and Vermeulen, 1998), interorganizational learning in an international joint venture (Parkhe, 1991; Inkpen and Beamish, 1997; Tsang, 1999; Dussauge et al., 2000), intraorganizational knowledge transfer within a multinational company (Gupta and Govindarajan, 1991), and interorganizational imitation in market entry (e.g., Martin et al., 1995; Shaver et al., 1997; Martin et al., 1998; Padmanabhan and Cho, 1999). A few researchers have adopted other newly emerging theories such as procedural justice theory (Kim and Mauborgne, 1991, 1993, 1996), strategic option theory (Chi and McGuire, 1996), and network theory (Malnight, 1996). The above observations suggest that the theoretical perspective adopted in the field of ISM has been shifting from economic theories to multidisciplinary approaches. In addition to this general trend, there existed several studies that revived the classic ideas in the field of international business. Some researchers (e.g., Ito, 1997; Tsurumi and Tsurumi, 1999) revisited the theory of oligopolistic competition (Knickerbocker, 1994; Flowers, 1976; Yu and Ito, 1988). Other researchers (e.g., Chang, 1995; Malnight, 1995; Fina and Rugman, 1996; Eriksson et al., 2000; Cui, 1998) revisited internationalization theory (Johanson and Vahlne, 1977).

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6. Outlets In my review of the leading journals, I found the following distribution across the different journals. The Journal of International Business Studies had 124 studies. Strategic Management Journal had 80. This was followed by Management International Review (75), (Columbia) Journal of World Business (49), Academy of Management Journal (26), Harvard Business Review (15), Management Science (12), Academy of Management Review (12), and Administrative Science Quarterly (1). Recently, Werner (2002) reviewed international management research in 20 journals for the 19962000 period. Among them, six journals were identical to this study (Journal of International Business Studies, Strategic Management Journal, Management Science, Academy of Management Journal, Academy of Management Review, and Administrative Science Quarterly). Of the 158 articles included in this study in the same six journals for the 19962000 period, 139 articles were also in Werner (2002), an 88% correspondence rate. The present findings indicate two encouraging points for scholars interested in conducting ISM research. First, as might be expected the Journal of International Business Studies and Management International Review, have been very receptive outlets for ISM research. Between 1991 and 2000, these journals published approximately half of all ISM research. Second, mainstream strategic management journals, in particular, Strategic Management Journal, have become more readily accessible outlets for the publication of ISM literature.

7. Authors and school affiliations To assess the breadth and diversity of contributions to the ISM field, I examined author and institutional contributions. To review contributions, I adopted the method employed by other discipline-based reviews (e.g., Heck and Cooley, 1988; Inkpen and Beamish, 1994; Morrison and Inkpen, 1991) to construct absolute and adjusted count measures of authors and institutions. For the absolute appearance of authors, I accorded an author a one full credit as long as his or her name appeared on the article published. Even if an author coauthored the article with others, he or she takes one full credit. There is no distinction between the first author and the second author; each takes one full credit. For the adjusted appearances of authors, I adjust the authors appearance based on the number of authors in the article. If an author coauthored the article with one more author, each takes 0.5 credit ( = 1 article divided by 2 authors). If an author coauthored the article with two more authors, each takes 0.33 credit ( = 1 article divided by 3 authors). There is no distinction between the first author and the second author; the authorship is equally divided. For the absolute appearance of institutions, an institution takes one full credit as long as its name appears on the article published. Sometimes, however, an author was affiliated with two different institutions at the same time. In this case, each institution takes 0.5 credit ( = 1

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institution/co-affiliation = 1/2). Because of this dual institutional affiliation, we can see decimal points (0.5) in the column. There is no distinction between the affiliation with the first author and that with the second author. All practitioners affiliations are classified as industry. For the adjusted appearances of institutions, an institution takes one full credit if the author (who was affiliated with that institution) solely authored the article published. An institution takes 0.5 credit ( = 1 article/2 different institutions) if the author (who is affiliated with that institution) coauthored the article with one more author (who was affiliated with a different institution). An institution takes 0.33 credit ( = 1 article/3 different institutions) if the author (who was affiliated with that institution) coauthored the article with two more authors (with all different institutions). Note that an institution takes one full credit if an author coauthored the article with one more author who was affiliated with the same institution ( = 1 article/1 same institution with 2 different authors). The same rule applies to the author team of 3 ( = 1 article/1 same institution with 3 different authors). As noted above, sometimes, an author was affiliated with two different institutions at the same time. If an author was affiliated with two different institutions and coauthored the article with one more author who was affiliated with a different institution, the institution with which the former author was co-affiliated takes only 0.25 credit ( = 1 institution/co-affiliation/2 authors = 1/2/2). If a co-affiliated author coauthored the article with two more authors (in all different institutions), the institution with which the former author was co-affiliated takes only 0.167 credit ( = 1 institution/co-affiliation (2)/3 authors = 1/2/3). My review generated a total of 517 authors affiliated with 238 institutions. The top 30 contributing institutions and authors in ISM research are listed in Tables 2 and 3, respectively (expanded tables are available on request from the author). Five observations should be noted from the tables. First ISM research has received significant contributions from practitioners. Even when all authors citing joint academic and business appointments are classified by academic appointment, industry remains the fourth leading affiliation of ISM scholars. Given the applied nature of strategic management (Summer et al., 1990) and growing concerns of the relevance of academic investigations to practitioners, this finding that practitioners devote time and effort in helping bring such research to fruition provides evidence that ISM research enjoys continued relevance to business. Second, comparing Table 2 with other surveys of international business research demonstrates that it is not necessary for a school to be a center for all types of international business research to be productive in ISM research (Inkpen and Beamish, 1994). Third, in terms of contributor diversity, Table 2 provides evidence that contributions to ISM research originate from institutions in a variety of countries. For example, 12 of the top 30 institutions (including the top 2) are outside the United States. This diversity provides encouraging evidence that scholars investigate complex ISM topics from different cultural perspectives and academic backgrounds. Fourth, the number of appearances per author in Table 3 indicates that a wide variety of authors have contributed to ISM research, providing further evidence that a diverse set of

J.W. Lu / Journal of International Management 9 (2003) 193213 Table 2 Authors affiliations in ISM literature (1991 2000) Affiliation 1. University of Western Ontario 2. INSEAD 3. University of Pennsylvania 4. Industry 5. Harvard University 6. Rutgers University 7. University of South Carolina 8. University of Michigan 9. University of Hawaii-Manoa 10. Indiana University-Bloomington 11. Stockholm School of Economics 12. New York University 13. University of Utah 14. Boston University 15. Thunderbird-AGSIM 16. University of Illinois-Urbana-Champaign 17. Uppsala University 18. Chinese University of Hong Kong 19. University of Strathclyde 20. Hong Kong University of Science and Technology 21. Purdue University 22. University of Reading 23. Southern Methodist University 24. Tilburg University 25. London Business School 26. University of Limburg 27. Temple University 28. University of Minnesota 28. University of Bath 30. Georgetown University Adjusted appearances 14.2 13.5 12.8 10.7 10.5 9.4 9.3 9.1 8.6 8.1 7.2 6.8 6.3 5.5 5.2 4.8 4.6 4.3 4.3 4.1 4.0 4.0 3.7 3.6 3.5 3.3 3.2 3.2 3.2 3.1

205

Total appearances 32.5 26 18.5 20 16 14.5 17 23.5 13 13 15 14.5 10.5 9 10 9.5 12 9 6 9.5 7 6.5 6 9.5 6 6 10 7 7 5.5

University ranks are based primarily on the number of adjusted appearances and secondarily on the number of total appearances.

scholars contributes to ISM research. Of the 517 authors in the present review, only 38 have adjusted appearance scores of 2.0 or greater. Finally, even only 5 years after LB, the list of most prolific authors has changed significantly. While there are a small number of ISM researchers who have consistently remained at a high level (i.e., Beamish, Parkhe, Roth, Tallman), there are numerous scholars who are now among those with high appearance levels (i.e., Luo, Birkinshaw, Pan, Delios, Reuer, Taggart, L. Brouthers, Shaver, K. Brouthers, Makino), as well as those whose contribution levels in these particular journals have not remained near the top (i.e., Kim, Ghoshal, Kriger, Geringer, Contractor, Kogut, Grant). Interestingly, while the list of major contributors has undergone fairly significant change, the top institutional contributors have seen much less change. The top three institutions

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Table 3 Authors appearances in ISM literature (1991 2000) Author 1. 1. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 14. 16. 17. 18. 19. 20. 20. 20. 23. 24. 25. 25. 27. 27. 27. 27. Luo, Yadong Parkhe, Arvind Beamish, Paul W. Birkinshaw, Julian Roth, Kendall Tallman, Stephen Pan, Yigang Hennart, Jean-Francois Mascarenhas, Briance Li, Jiatao Delios, Andrew Reuer, Jeffrey J. Taggart, James H. Brouthers, Lance Eliot Shaver, J. Myles Kotabe, Masaaki Kim, W. Chan Brouthers, Keith D. Makino, Shige Madhok, Anoop ODonnell, Sharon Watson Sambharya, Rakesh B. Mitchell, Will Lyles, Marjorie A. Peng, Mike W. Rugman, Alan M. Hagedoorn, John Miller, Kent D. Yan, Aimin Zaheer, Srilata Adjusted appearances 5.50 5.50 5.25 5.00 4.17 4.08 3.67 3.33 3.33 3.25 3.00 3.00 3.00 2.83 2.83 2.67 2.67 2.67 2.50 2.50 2.50 2.50 2.33 2.33 2.00 2.00 2.00 2.00 2.00 2.00 Total appearances 6 6 11 9 7 7 7 6 4 4 6 5 3 6 6 7 6 5 6 3 3 3 7 5 4 4 3 3 3 3

Author ranks are based primarily on the number of adjusted appearances and secondarily on the number of total appearances. If authors are tied on these two factors, they are given the same rank.

for ISM research continued to be Ivey (Western Ontario), INSEAD, and Wharton (Pennsylvania).

8. Future directions The review reported in this study identifies many ISM topics that have received growing research attention in the 1990s. The bulk of this has been focused on but two topics: international diversification and strategic alliances. Although a considerable number of topics have been explored by ISM researchers, a review of Table 1 points out that many of these topics have received minimal attention. Among these, enterprise

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and business strategies have received limited attention, with only one article investigating enterprise strategy (Nigh and Cochran, 1994). Given increased importance of business ethics and the management of stakeholder interests in both home country and host countries, this topic requires additional research. Business strategy has received limited attention, particularly relative to research conducted on business-level strategy in domestic settings (e.g., Dess and Davis, 1984). Compared to the nine articles reported by LB, the number of papers in business-level formulation has increased to 39; yet only six articles investigating implementation have been published in leading journals. Developments in business-level taxonomies (e.g., Birkinshaw and Hood, 1998; Carpano et al., 1994; Morrison and Roth, 1992), however, should help promote ISM research on this topic. A second area that has received minimal investigation is performance, with the caveat that the minimal investigation of performance relates to topics concerned fundamentally with understanding the dimensions of performance, not articles that examine the performance implication of a strategy. This lack of attention can be problematic as performance is a fundamental dependent variable for strategy research. The problems associated with a lack of attention are exacerbated by the greater number of potential performance variables in ISM research as compared to general strategy research. As an example, the topic of strategic alliances presents challenges for performance measurement that must be addressed. Companies may form strategic alliances for several reasons consequently, traditional performance measures employed in strategic management research (e.g., return on investment) may produce misleading results when applied to strategic alliances, but other alternate performance measures need to be identified, defined, and accepted by the academic community as standards for the field. Clearly, further research on the measuring of performance is required. Although some areas of research may lag when compared to corporate strategy research, some of these areas have shown considerable growth. Top management team research, as an example, has received dramatically increased attention. In the first half of the 1990s, there was only one paper on this topic (Kriger, 1991). Yet, in the second half of the 1990s, the number of top management team articles grew to at least 13. This review has also noted a shift from the dominance of economic theories (transaction cost theory, I/O theory, etc.) to multidisciplinary approaches. Therefore, opportunities exist to study ISM topics through different theoretical lenses. Even for topics receiving substantial research attention, employing different theories may prompt additional insights. For example, in the international diversification literature, several studies have employed portfolio theory to assess the performance implications of diversification (e.g., Collins, 1990; Michel and Shaked, 1986; Shaked, 1986). Recent studies (e.g., Dess et al., 1995; Lubatkin and Chatterjee, 1994), however, have questioned the relevance of modern portfolio theory to the active management of business portfolios. Such debate presents an opportunity for future research. Before concluding, the limitations of this analysis should be noted. First, the time frame is comprehensive and incorporates a great deal of contemporary research in ISM, but the coverage of review was limited to nine journals. Significant contributions can and do appear

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in books and journals that were not reviewed in the present study. In this sense, the study works from a sample, which should be representative of the general trends in the field. Second, the placement of relevant articles into individual categories relied on multiple independent evaluations by researchers, but ultimately these are qualitative assessments in which the inclusion (or exclusion) of individual articles within particular categories can be debated. Although discrepancies might exist, the review does provide a useful review of ISM research.

9. Conclusion ISM research has developed significantly since Shrivastavas (1987) review. This review found that ISM scholars have devoted substantial efforts to understanding international diversification and strategic alliances. The review also found, however, that several other areas await investigation. These gaps in recent research represent limits to managerial and academic understanding of the field that can be overcome by the pursuit of research into these areas. Additionally, the review signals the health of the field of ISM in terms of the breadth of contributing authors and institutions, the availability of multiple quality outlets, and the active participation by practitioners in ISM research. All these should promote the continued development of ISM research in the 21st century.

Acknowledgements Invaluable assistance from Changwha Chung and Jaechul Jung is gratefully acknowledged, as is the base material from F. Lohrke and G. Bruton, which the present article builds upon. Thanks are also due to G. Bruton, M. Kotabe, and two anonymous referees for helpful comments on earlier versions of this article.

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