15Why Do MNCs Divest or Retain Foreign Subsidiaries?Approaches from Dependency and Redundancy in Subsidiary Networks Naoki Yasudanon-redundant relationships, and non-redundant relationships represent a competitive advantage (e.g., Burt, 1992). Due to limitations on data availability, this study does not directly measure export and import flows between foreign subsidiaries. Therefore, this study does not directly capture power among subsidiaries and network positions in the subsidiary network. The power and network measures require data about dyadic exports and imports flows between subsidiaries. Moreover, because of data limitations, this study does not measure other types of network such as knowledge flows across subsidiary networks (e.g., Andersson & Forsgren, 2000; Frost, Birkinshaw, & Ensign, 2002). A second limitation is generalizability. This study samples foreign subsidiaries of Japanese firms, perhaps restricting the generalizability of findings. In addition, this study samples subsidiaries in the manufacturing industry. Future research could investigate mechanisms relevant across industries. Finally, due to data limitations, this study does not consider organizational interactions with competitors and other industry players (e.g., Haveman, 1993). Hence, there is inadequate consideration of inter-firm relationships. Notwithstanding these limitations, the study offers new insights to the literature and new avenues for future research.FUNDING This work was supported by JSPS KAKENHI Grant-in-Aid for Young Scientists (B) and Grant Number 17K13791. REFERENCESAndersson, U., & Forsgren, M. (2000) “In search of centre of excellence: Network embeddedness and subsidiary roles in multinational corporations.” Management International Review, 40(4): 329-350.Andersson, U., Forsgren, M. & Holm, U. (2002) “The strategic impact of external networks: subsidiary performance and competence development in the multinational corporation.” Strategic Management Journal, 23(11): 979-996.Baldwin, R. & Okubo, T. (2014) “Networked FDI: Sales and sourcing patterns of Japanese foreign affiliates.” The World Economy, 37(8): 1051-1080.Belderbos, R., & Zou, J. (2009). “Real options and foreign affiliate divestments: A portfolio perspective.” Journal of International Business Studies, 40(4): 600-620.Berry, H. (2013) “When do firms divest foreign operations?.” Organization Science, 24(1): 246-261.Blonigen, B. A., Davies, R. B., Waddell, G. R. & Naughton, H. T. (2007) “FDI in space: Spatial autoregressive relationships in foreign direct investment.” European Economic Review, 51(5): 1303-1325.Bouquet, C., & Birkinshaw, J. (2008). “Managing power in the multinational corporation: How low-power actors gain influence.” Journal of Management, 34(3): 477-508.Bradley, S. W., Aldrich, H., Shepherd, D. A. & Wiklund, J. (2011) “Resources, environmental change, and survival: Asymmetric paths of young independent and subsidiary organizations.” Strategic Management
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