Management and Marketing - Research Publications

Permanent URI for this collection

http://hdl.handle.net/11343/405

Filters

2020 - 2023 3
1
Reset filters

Settings
Statistics
Citations
Author: Merrett, David × Start date: 2020 × Type: Journal Article ×

Search Results

Now showing 1 - 3 of 3
  • Item
    No Preview Available
    Taking the long view of the multinational
    Sammartino, A ; Merrett, D ; van der Eng, P ; Ville, S (EMERALD GROUP PUBLISHING LTD, 2023-03-20)
    Purpose This paper argues for the benefits to international business (IB) of taking a much longer view at the engagement by multinational enterprises (MNEs) with host locations. Design/methodology/approach The authors showcase a project tracking the engagement by MNEs with Australia over the past two centuries. Extensive archival work has been undertaken to identify and document modes of entry, home countries, industries, operational modes and company types among the MNEs operating in Australia. The authors also describe the shifting nature of Australia as a host location. Findings The authors demonstrate the historical and ongoing diversity of ways in which MNEs interact with a host. They show that different organisational forms have prevailed over time, and that considerable operational mode changes can best be observed when a long lens is adopted. The authors show how these mode changes interact with host country dynamics, and also the broader context of the MNE and its altering strategies. Research limitations/implications The authors urge IB scholars to embrace longer timeframes to capture the complexity of MNEs’ growth and adaptation more meaningfully. Originality/value By taking such a long-run perspective, the authors shed new light on the importance of moving beyond simple snapshots to analyse key IB constructs and phenomenon.
  • Item
    Thumbnail Image
    The Making of Australia's Supermarket Duopoly, 1958–2000
    Merrett, DT (Wiley, 2020-11-01)
    Australian supermarkets had one of the highest levels of concentration among developed economies by 2000. This paper explores the making of a duopoly comprising Coles and Woolworths. We present historical data on market shares in Australia and international comparisons for around 2000. We identify the evolution of their dynamic capabilities through the lens of Teece, Pisano and Shuen's positions, paths and processes (1997). The industrial organisation literature stresses interaction become rivals, notably pre-emptive strategies including sunk costs (Lee and Ng 2007; Sutton 1991). We argue that the development of dynamic capabilities enabled the execution of various pre-emptive strategies.
  • Item
    Thumbnail Image
    Underpricing in a developing capital market: Australian equity issuances, 1920-39†
    Fleming, G ; Liu, ZF ; Merrett, D ; Ville, S (WILEY, 2021-08)
    Abstract Developing capital markets generally lack the regulatory safeguards and rich informational sources that assist investors in judging new equity issues in modern markets. Focusing on the early stage capital market in interwar Australia, we calculate the success (underpricing and percentage raised) of 786 new equity issues, comparing initial public offerings, seasoned equity offerings, and rights issues. We examine whether the use of underwriters and the choice of security (ordinary or preference shares) affected the success of the equity issue. We find that certification by underwriters had no effect on capital‐raising success once we controlled for firm‐specific factors in the multivariate regressions, while underpricing and percentage raised varied by type of shares offered to investors.