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korean management review - Vol. 47 , No. 3
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[ Article ]
korean management review - Vol. 47, No. 3, pp. 647-671
Abbreviation: kmr
ISSN: 1226-1874 (Print)
Print publication date 30 Jun 2018
Received 05 May 2018 Accepted 22 May 2018
DOI: https://doi.org/10.17287/kmr.2018.47.3.647

The Determinants of Subsidiary CEO Staffing by American Multinationals in Korea: Effects of HQ TMT Nationality Diversity
Chul-Hyung Park* ; Dong-Kee Rhee** ; Young-Gon Cho***
*Researcher, Institute of Management Research at SNU Business School, Seoul National University, First Author
**Professor, SNU Business School, Seoul National University, Co-Author
***Professor, Department of Global Business Administration, Sangmyung University, Corresponding Author

다국적기업 본사 최고경영진의 국적 다양성이 해외자회사 CEO 현지화에 미치는 영향
박철형* ; 이동기** ; 조영곤***
*(주저자) 서울대학교 경영대학 강사 (parkch80@snu.ac.kr)
**(공저자) 서울대학교 경영대학 교수 (rheedong@snu.ac.kr)
***(교신저자) 상명대학교 글로벌경영학과 교수 (ygcho@smu.ac.kr)
Funding Information ▼
Abstract

This study empirically investigates how nationality diversity of top management team in MNCs' headquarters affects foreign subsidiary's CEO localization. Hypotheses are derived both from upper echelons perspective and social identity perspective on the localization of subsidiary CEO. Using a sample of 84 Korean wholly owned subsidiaries of 66 S&P 500 American MNCs from 2000 to 2014, panel logistic regression analysis and Cox survival analysis have been conducted. The panel logistic results shows that nationality diversity of HQ TMT has a positive relationship with localization of CEOs of foreign subsidiaries. This means that the greater the nationality diversity of the top executives in the headquarters, the more likelihood to staffing host country nationals as subsidiary CEOs. Cox survival analysis reports that nationality diversity of HQ TMT has positive relationship with proportional hazards of subsidiary CEO localization. This demonstrates that as the nationality of HQ TMT diversify, the propensity of subsidiary CEO succession from PCNs to HCNs increase. It also found that local experience of foreign subsidiary positively moderates the impact of HQ TMT’s nationality diversity on subsidiary CEO’s localization. This study provides academic and managerial implications as follow. In the theoretical aspect, this study presented the nationality diversity of the headquarters' top management as a determinant of the localization of CEOs of overseas subsidiaries. Applying upper echelons theory and social identity theory, the study explains the impact of the nationality diversity of the top executives of the headquarters on the localization of CEOs of foreign subsidiaries. In the managerial aspect, the international human resource management and the ability to manage multicultural organizations are crucial for the successful implementation of global strategies by multinational corporations. In order to strengthen the global capabilities of MNCs, this study suggests that internationalization of nationality composition of headquarters' top management as well as the localization of manpower of foreign subsidiaries is important.

초록

본 연구는 다국적기업 본사 최고경영진과 해외자회사 CEO를 위계적 관계로 파악하고 본사 최고경영진의 국적 다양성이 해외자회사 CEO 현지화에 미치는 영향을 실증 분석하였다. 2000년부터 2014년까지 66개 미국 S&P 500 기업의 84개 단독소유 한국 자회사를 대상으로 자회사 CEO 현지화를 종속변수로 하여 패널로지스틱 분석과 생존분석을 수행하였다. 패널로지스틱 분석결과, 본사 최고경영진의 국적 다양성이 높을수록 해외자회사 CEO로 본사파견 인력보다 현지인을 임명하는 경향이 높은 것으로 나타났다. 해외자회사 CEO가 본사파견 인력에서 현지인으로 교체되는 사건에 대한 생존분석을 수행한 결과, 본사 최고경영진의 국적 다양성이 증가할수록 해외자회사 CEO가 본사파견 인력에서 현지인으로 교체될 가능성이 높아지는 것으로 확인되었다. 한편 해외자회사의 현지경험은 본사 최고경영진 국적 다양성과 해외자회사 CEO 현지화 간의 관계에 대하여 정(+)의 조절효과를 가지는 것으로 나타났다. 이는 본사 최고경영진 국적 다양성이 해외자회사 CEO 현지화에 미치는 영향이 해외자회사의 현지경험이 증가할수록 강화됨을 의미한다. 본 연구는 선행연구에서 시도되지 않았던 본사 최고경영진 국적 다양성의 영향을 최고경영층이론과 사회정체성이론 관점에서 실증적으로 규명하였다는 점에서 해외자회사 CEO 현지화에 대한 이론적·실무적 시사점을 제공할 수 있을 것으로 기대된다.

Keywords: Localization of foreign subsidiary CEO, Nationality diversity of headquarters' top management team, Local experience of foreign subsidiary
키워드: 해외자회사 CEO 현지화, 본사 최고경영진 국적 다양성, 해외자회사 현지경험
Acknowledgments

본 연구를 위해 귀중한 조언과 자료수집에 도움을 주신 서울대학교 경영대학 박선현 교수님께 감사드립니다.

본 연구는 주저자의 박사학위 논문의 일부를 보완하여 작성되었습니다.

본 연구는 서울대학교 경영연구소의 연구비 지원을 받아 수행되었습니다.

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• 저자 박철형은 현재 서울대학교 경영연구소 객원연구원 및 경영대학 시간강사로 재직하고 있다. 계명대학교 통상학과를 졸업하고 서울대학교에서 경영학 석사 및 박사 학위를 취득하였다. 대외경제정책연구원(KIEP)과 삼정회계법인에서 근무하였으며 상명대학교, 서울대학교, 한성대학교 등에서 강의하였다. 관심연구분야는 다국적기업의 현지화, 한국기업의 해외직접투자, 신흥시장 진출전략 등이다.

• 저자 이동기는 현재 서울대학교 경영대학 교수로 재직하고 있다. 서울대학교 경영학과를 졸업하고 동 대학원에서 석사 학위를 취득하였으며, 뉴욕대학교에서 경영학 박사 학위를 취득하였다. 주요연구분야는 국제경영, 경영전략 등이다.

• 저자 조영곤은 현재 상명대학교 글로벌경영학과 교수로 재직하고 있다. 서울대학교에서 경영학 박사 학위를 취득하였다. 주요연구분야는 국제경영, 경영전략 등이다.

 
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