References
- Baldwin, C.Y., Where do transactions come from?, Industrial and Corporate Change, 2008, Vol. 17, pp. 155-195. https://doi.org/10.1093/icc/dtm036
- Bank of America, Covid-19 investment implications series : the world after Covid primer, Thematic Investing, 2020, pp. 1-16
- Bouquet, C., Herbert, L., and Delios, A., Foreign expansion in service industries : separability and human capital intensity, Journal of Business Research, 2004, Vol. 57, No. 1, pp. 35-46. https://doi.org/10.1016/S0148-2963(02)00282-5
- Brouthers, L.E., Brouthers, K.D. and Werner, S., Is Dunning's eclectic framework descriptive or normative?, Journal of International Business Studies, 1999, Vol. 30, No. 4, pp. 831-844. https://doi.org/10.1057/palgrave.jibs.8490842
- Brouthers, L.E., Brouthers, K.D., and Werner, S., Perceived environmental uncertainty, entry mode choice and satisfaction with EC-MNC performance, British Journal of Management, 2000, Vol. 11, No. 3, pp. 183-195. https://doi.org/10.1111/1467-8551.00160
- Chan, C.M., Isobe, T., and Makino, S., Which country matters? Institutional development and foreign affiliate performance, Strategic Management Journal, 2008, Vol. 29, No. 11, pp. 1179-1205. https://doi.org/10.1002/smj.705
- Dikova, D., Performance of foreign subsidiaries : Does psychic distance matter?, International Business Review, 2009, Vol. 18, No. 1, pp. 38-49. https://doi.org/10.1016/j.ibusrev.2008.11.001
- Feenstra, R., Integration of trade and disintegration of production in the global economy, Journal of Economic Perspectives, 1998, Vol. 12, No. 4, pp. 31-50. https://doi.org/10.1257/jep.12.4.31
- Ghemawat, P., Distance still matters : the hard reality of global expansion, Harvard Business Review, 2001, Vol. 79, No. 8, pp. 137-147.
- Ham, J.O., A study on the determinants of performances of Korean FDI corporations in China [dissertation], [Seoul, Korea] : Soongsil University, 2011.
- Harzing, A.W., An empirical analysis and extension of the Bartlett and Ghoshal typology of multinational companies, Journal of International Business Studies, 2000, Vol. 31, No. 1, pp. 101-120. https://doi.org/10.1057/palgrave.jibs.8490891
- Hu, Y.S., International transferability of the firm's advantages, California Management Review, 1995, Vol. 37, No. 4, pp. 73-87. https://doi.org/10.2307/41165811
- Jacobides, M.G. and Kudina, A., How industry architectures shape firm success when expanding in emerging economies, Global Strategy Journal, 2013, Vol. 3, No. 2, pp. 150-170. https://doi.org/10.1111/j.2042-5805.2013.01054.x
- Jacobides, M.G. and Winter, S.G., Capabilities : agency, structure and evolution, Organization Science, 2012, Vol. 23, No. 5, pp. 1365-1381. https://doi.org/10.1287/orsc.1110.0716
- Jacobides, M.G., Industry change through vertical disintegration : How and why markets emerged in mortgage banking, Academy of Management Journal, 2005, Vol. 48, No. 3, pp. 465-498 https://doi.org/10.5465/amj.2005.17407912
- Jacobides, M.G., Knudsen, T., and Augier, M., Benefiting from innovation : value creation, value appropriation and the role of industry architectures, Research Policy, 2006, Vol. 35, No. 8, pp. 1200-1221. https://doi.org/10.1016/j.respol.2006.09.005
- Jacobides, M.G., Playing football in a soccer field : value chain structures, institutional modularity and success in foreign expansion, Managerial and Decision Economics, 2008, Vol. 29, No. 3, pp. 257-276. https://doi.org/10.1002/mde.1393
- Jarillo, J.C. and Martianez, J.I., Different roles for subsidiaries : the case of multinational corporations in Spain, Strategic Management Journal, 1990, Vol. 11, No. 7, pp. 501-512. https://doi.org/10.1002/smj.4250110702
- KIET, The impact of Covid-19 on global value chain and counter measure, I-KIET Industry Economy Issues, 2020, Vol. 82, pp. 1-12.
- Kim, C.M. and Park, K.H., The impact of value creation and appropriation elements on performance, Journal of Society of Korea Industrial and Systems Engineering, 2017, Vol. 40, No. 4, pp. 1-9.
- Kotabe, M., Parente, C., and Murray, J., Antecedents and outcomes of modular production in the Brazilian automobile industry : a grounded theory approach, Journal of International Business Studies, 1993, Vol. 38, No. 1, pp. 84-106. https://doi.org/10.1057/palgrave.jibs.8400244
- KOTRA, Directory of overseas Korean FDI corporations, 2018.
- KOTRA, Factual survey on the change of global value chain, 2020, Internal Report, pp. 1-26.
- Kudina, A. and Jakubiak, M., The motives and impediments to FDI in the CIS, CASE Network Studies and Analyses, 2008, No. 370, pp. 1-31.
- Law, K.S., Song, L.J., Wong, C., and Chen, D., The antecedents and consequences of successful localization, Journal of International Business Studies, 2009, Vol. 40, pp. 1359-1373. https://doi.org/10.1057/jibs.2009.31
- Lee, S.K., A study on the effects of cultural intelligence and management adaptation on the performance of Korean FDI firms [dissertation], [Seoul, Korea] : Dongguk University, 2018
- Levitt, T., The globalization of markets, Harvard Business Review, 1983, Vol. 61, No. 3, pp. 92-102.
- Lu, Y., and Bjorkman, I., HRM practices in China-Western joint ventures : MNC standardization versus localization, International Journal of Human Resource Management, 1997, Vol. 8, No. 5, pp. 614-628. https://doi.org/10.1080/095851997341414
- Makino, S., Isobe, T., and Chan, C., Does country matter?, Strategic Management Journal, 2004, Vol. 25, No. 10, pp. 1027-1043. https://doi.org/10.1002/smj.412
- McGahan, A. and Victer, R., How much does home country matter to corporate profitability?, Journal of International Business Studies, 2010, Vol. 41, No. 1, pp. 142-165. https://doi.org/10.1057/jibs.2009.69
- Meyer, K., Mudambi, R., and Narula, R., Multinational enterprises and local contexts : the opportunities and challenges of multiple embeddedness, Journal of Management Studies, 2011, Vol. 48, No. 2, pp. 189-205.
- Ministry of Trade, Industry and Energy of Korea, http:// www.motie.go.kr.
- Mudambi, R., Knowledge management in multinational firms, Journal of International Management, 2002, Vol. 8, No. 1, pp. 1-9. https://doi.org/10.1016/S1075-4253(02)00050-9
- Mudambi, R., Location, control and innovation in knowledge- intensive industries, Journal of Economic Geography, 2008, Vol. 8, No. 5, pp. 699-725. https://doi.org/10.1093/jeg/lbn024
- Parente, R., Hahn, E., and Baack, D., The effect of supply chain integration, modular production, and cultural distance on new product development : a dynamic capability approach, Journal of International Management, 2011, Vol. 17, No. 5, pp. 524-541.
- Porter, M.E., The competitive advantage of nations, Free Press : New York, 1990.
- Puranam, P. and Srikanth, K., Integrating distributed work : comparing task design, communication, and tacit coordination mechanisms, Strategic Management Journal, 2011, Vol. 32, No. 8, pp. 849-875. https://doi.org/10.1002/smj.908
- Rangan, S. and Sengul, M., Information technology and transnational integration : theory & evidence on the evolution of modern multinational enterprise, Journal of International Business Studies, 2009, Vol. 40, No. 9, pp. 1496-1514. https://doi.org/10.1057/jibs.2009.55
- Salomon, R. and Wu, Z., Institutional distance and local isomorphism, Journal of International Business Studies, 2012, Vol. 43, pp. 1-25. https://doi.org/10.1057/jibs.2011.40
- Shin, H.K., Impact of local business networks and psychic distance on performance of subsidiaries in emerging markets [dissertation], [Seoul, Korea] : Seoul School of Integrated Sciences and Technologies, 2012.
- Taggart, J.H., An evaluation of the integration-responsiveness framework : MNC manufacturing subsidiaries in the UK, Management International Review, 1997, Vol. 37, No. 4, pp. 295-318.
- Taggart, J.H., MNC subsidiary performance, risk, and corporate expectations, International Business Review, 1999, Vol. 8, No. 2, pp. 233-255. https://doi.org/10.1016/S0969-5931(98)00047-X
- Teece, D.J., Technology transfer by multinational firms : the resource cost of transferring technological knowhow, Economic Journal, 1977, Vol 87, No. 346, pp. 242-261. https://doi.org/10.2307/2232084
- The Export-Import Bank of Korea, https://www.koreaexim.go.kr.
- Vrontis, D., Thrassou, A., and Lamprianou, I., International marketing adaptation versus standardization of multinational companies, International Marketing Review, 2009, Vol. 26, No. 4/5, pp. 477-500. https://doi.org/10.1108/02651330910971995
- Zaheer, S., Overcoming the liability of foreignness, Academy of Management Journal, 1995, Vol. 38, No. 2, pp. 341-362. https://doi.org/10.2307/256683