中文摘要：

不同于其他国家的跨国企业,中国的跨国企业由于资源与能力的限制以及制度环境的缺陷,在进行海外扩张时具有一定独特性。为了识别出适合中国跨国企业海外子公司发展的路径,本文对多个中国跨国企业海外子公司的案例进行对比分析,研究了子公司成立后的一系列决策与行动。基于对子公司内部嵌入与外部嵌入之间相互关系的识别,提出了一个海外子公司在更发达国家地区发展的多阶段模型。该模型显示,子公司的战略制定过程是一个母子公司互相协商的过程,最终的决策与子公司的相对话语权有直接关系。在战略实施阶段,子公司加深嵌入程度的活动直接反映了其战略制定导向。本文认为,子公司的战略实施可进入“下降螺旋”和“上升螺旋”两种路径。子公司进入上升螺旋的关键因素是其是否获得了有价值、可分享的知识,这些知识对子公司话语权的获得与地位的转变有着至关重要的影响,直接影响着子公司能否实现“双元嵌入”。

英文摘要：

Different from multinational corporations （MNCs） in other countries, Chinese MNCs are quite unique when expending overseas because of capacity and resource limitations as well as institutional defections. In order to identify an appropriate development path of Chinese MNCs＇ overseas subsidiaries, we conducted in-depth multiple case studies on Chinese overseas subsidiaries. In this paper, we pay close attention to a series of decisions and actions taken by the focal subsidiaries after their establishment. Based on the identification of the relationship between internal embedded- ness and external embeddedness, we have put forward a multi- stage model of subsidiary development in developed countries. This model proposes that subsidiary strategy formulation is a process of negotiation between the parent company and the subsidiary. The final decision has direct relation to the relative discourse power of subsidiary. During the stage of strategy implementation, activities related to deepening internal or external embeddedness can directly reflect subsidiary＇s strategy orientation. Furthermore, we argue that the strategy implementation process can be classified into to two modes： downward spiral and upward spiral. During this process, the key factor that influences subsidiary＇s evolution mode is the acquisition of valuable and transferable knowledge. This knowledge has great contributions to the acquisition of discourse power and the transformation of subsidiary status, and can directly influence subsidiary＇s possibility to reach dual embeddedness. If the sub- sidiaries can obtain valuable knowledge during the early stage of establishment and have the channel to share this knowledge to the parent company and other subsidiaries, they will enter the upward spiral and then reach dual embeddedness. However, if the subsid- iaries cannot obtain enough valuable knowledge or cannot share the knowledge with the parent company and other subsidiaries success- fully in the early stage of establishment, they will ente