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Parent-firm advantages and management control effects on subsidiary performance in emerging economies: a study of foreign direct investment in Thailand

ABSTRACT This paper empirically investigates how parent management control and firm-specific advantages (FSAs) influence subsidiary performance in Thailand. We find that parent management control has a mediating effect on the influence of political risks and subsidiary goals on subsidiary performance for emerging market multinationals, whereas for developed country multinationals, it only shows a mediating effect on the influence of subsidiary goals on subsidiary performance. We also find that the FSAs of parent firms based in developed countries moderate and mediate the effect of parent management control on subsidiary performance.