A LBV perspective on political risk management in a multinational bank during the First World War
A LBV perspective on political risk management in a multinational bank during the First World War
复制标题
LBV 视角对第一次世界大战期间跨国银行政治风险管理的看法
DOI：
10.1108/mbr-09-2015-0045
复制
发表时间：
2016
期刊：
影响因子：
--
通讯作者：
Andrew Smith
中科院分区：
文献类型：
--
作者：
Andrew Smith
目的
本文旨在将政治风险的合法性基础观点（LBV）应用于第一次世界大战期间香港上海汇丰银行的经验。该文件表明，汇丰能够在这场冲突中幸存下来，部分原因是它有能力通过在其本土市场、香港和英国的利益相关者眼中保持合法性来管理政治风险。
设计/方法/方式
本案例研究基于汇丰集团在伦敦的档案中保存的该时期的内部通信和其他主要来源。
结果
本文认为，保持在国内市场的合法性是至关重要的企业生存和盈利能力。管理者加强公司合法性的努力应确保所有相关政府部门的个人继续认为跨国企业是合法的。
研究限制/影响
本文表明，LBV是一个潜在的强大的分析工具，但它也认为，LBV必须修改，以纳入见解的理论文献的种族和民族身份，特别是洞察力，这种身份是文化建设和可塑性。
实际影响
战争往往会增加跨国企业的利益相关者对各自国家的情感纽带。汇丰银行在第一次世界大战中的经验表明，在战争期间持续的盈利能力可能取决于该公司摆脱和平时期“世界公民”身份的能力，而更接近于其母国的身份。在战时保护政治资本可能需要无情地终止与敌国有关联的客户和雇员的关系。跨国公司经理人可以从这篇论文中得到的另一个教训是，与和平时期相比，维护母国的合法性可能需要总部对海外经理人施加更多的控制。战时的跨国企业如果担心在母国失去合法性，就应该考虑采用一种暂时减少子公司自主权的组织结构。
独创性/价值
巴克利（2009）呼吁在国际商业研究中重新整合商业史。本文是国际商务和其他管理学科正在进行的历史性转变的一部分。本文还认为，国际商业学者需要考虑过去的战争对当代跨国公司的影响，因为我们可能会看到类似于导致第一次世界大战的大国竞争的重新出现。本文假设两个主要资本主义经济体之间发生战争的可能性是不小的，因此，对主要国家间战争对跨国公司的影响进行额外的调查是值得的。历史研究可以帮助我们思考资本主义国家之间的战争对今天的跨国公司意味着什么。
Purpose
This paper aims to apply the Legitimacy-Based View (LBV) of political risk to the experience of the Hongkong and Shanghai Banking Corporation (HSBC) in the First World War. The paper shows that HSBC’s ability to survive this conflict was due, in part, to its ability to manage political risk by maintaining legitimacy in the eyes of stakeholders in its home market(s), Hong Kong and the UK.
Design/methodology/approach
This case study is based on the surviving internal correspondence from this period in the HSBC Group archives in London and other primary sources.
Findings
This paper suggests that maintaining legitimacy in the home market is crucial to firm survival and profitability. Managers’ efforts to bolster firm legitimacy should ensure that individuals in all of the relevant government departments continue to regard the multinational enterprise (MNE) as legitimate.
Research limitations/implications
This paper shows that the LBV is a potentially powerful analytical tool, but it also argues that the LBV must be modified so as to incorporate insights from the theoretical literature on ethnic and national identities, particularly the insight that such identities are culturally constructed and malleable.
Practical implications
Warfare tends to increase the degree to which a MNE’s stakeholders feel emotional bonds to their respective nations. HSBC’s experience in the First World War suggests that continued profitability in wartime may depend on the firm’s ability to shed its peacetime “world citizen” identity in favour of one that is more closely aligned with that of its home nation. Preserving political capital in wartime may require the ruthless termination of relationships with clients and employees who are associated with the enemy nation. Another lesson that MNE managers can derive from this paper is that preserving legitimacy in the home country may require the head office to exert more control over overseas managers, than would be the case in peace. A MNE in wartime that is concerned about the loss of legitimacy in the home country should consider adopting an organizational architecture that temporarily reduces subsidiary autonomy.
Originality/value
Buckley (2009) called for the re-integration of business history in International Business research. This paper is part of the ongoing historic turn in International Business and other management disciplines. This paper also argues that International Business scholars need to consider the impact of past wars on contemporary multinationals as we may witness the re-emergence of Great Power rivalries similar to those that led to the First World War. This paper proceeds on the assumption the probabilities of a war between two major capitalist economies are non-trivial and that additional investigation of the impact of major interstate warfare on MNEs is therefore merited. Historical research can help us to think about what a war between capitalist countries would mean for today’s MNEs.
影响因子：
1.1
作者：
Casson M
通讯作者：
Casson M