臺大管理論叢 NTU Management Review VOL.29 NO.1

Choose Foreign R&D Partners From Right Pools: A Synthesis Framework 120 Table 6 Moderating Effects of Institutional Voids on the Motive-Learning and Learning-Partner Selection Relationships Pair # Causal Path Path Coefficient p -value 1 ME → EPOI 0.087*** 0.001 ME → EPOR 0.096*** 0.000 2 TA → EPOI 0.072 0.312 TA → EPOR 0.466*** 0.000 3 EPOI → ISTK 0.283*** 0.000 EPOI → ESTK 0.033 0.244 4 EPOR → ISTK 0.177*** 0.000 EPOR → ESTK 0.186*** 0.000 5 MEIV → EPOI -0.065 0.122 MEIV → EPOR -0.059 0.125 6 TAIV → EPOI 0.066 0.564 TAIV → EPOR -0.229** 0.030 7 MEIV → EPOIIV 0.022 0.380 MEIV → EPORIV 0.038* 0.100 8 TAIV → EPOIIV 0.138** 0.048 TAIV → EPORIV 0.238*** 0.000 9 EPOIIV → ISTK 0.035 0.487 EPOIIV → ESTK 0.076* 0.053 10 EPORIV → ISTK -0.028 0.546 EPORIV → ESTK -0.095** 0.014 Notes: All path coefficients of the causal paths are standardized, * p < 0.1, ** p < 0.05, *** p < 0.01, ME = market expansion, TA = technology acquisition, MEIV = market expansion × institutional voids, TAIV = technology acquisition × institutional voids, EPOI = exploitation, EPOR = exploration, EPOIIV = exploitation × institutional voids, EPORIV = exploration × institutional voids, ISTK = internal stakeholder, ESTK = external stakeholder. Pairwise t -tests confirmed the statistical differentiation in the path coefficients of each pair of the causal paths. This finding further supports the validation and robustness of our synthesis framework and has two strategic implications. On the one hand, the institutional voids may not affect the relationship between the entry motive and the learning strategy. Institutional voids are related to the downside uncertainties of business transactions and legal protectiveness toward the value appropriation of firms in the context of foreign market expansion. Those institutional failures will affect the firms’ governance modes of transactions and even the decisions of partner selection, but are less likely to influence the