Niu, Y; Dai, C; Zhang, R and Yao, H (2025) Peer effects in internationalization of engineering enterprises: Moderating analyses and heterogeneity tests. Engineering, Construction and Architectural Management, 32(7), pp. 4631-4650. ISSN 0969-9988
Abstract
Purpose: This study is devoted to examining the peer effects of engineering enterprises' internationalization from the viewpoint of industry subdivision and how information and competition alter peer effects. Furthermore, the heterogeneity of peer effects is analyzed based on manager characteristics. Design/methodology/approach: In this study, multiple regression analysis was conducted on a sample of 38 Chinese engineering enterprises listed in the Engineering News-Record's top 250 international contractors over the period of 2013–2021. This study collected the paired data from the enterprise annual reports and the China Stock Market & Accounting Research database. Findings: The results reveal that (1) there exist peer effects within the subdivided industry of the engineering field; the quality of information disclosure of peer enterprises and degree of market competition moderate the peer effects; (2) the peer effects of internationalization are more pronounced in engineering enterprises with managers who have lower ability, hold greater power or are older. Practical implications: The findings of this study contribute to understanding the peer effect in the process of internationalization of engineering enterprises, and help enterprises to effectively supervise the irrational behavior of top managers, so as to develop better internationalization strategies. Originality/value: The results extend peer effects to the subdivision industry of the engineering field. Furthermore, this study also enriches the relevant research on peer effects among enterprises by empirically supporting the moderating role of information and competition as well as analyzing the heterogeneity of the peer effects from the perspective of manager characteristics.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | engineering industry; international engineering; internationalization; peer effects; top management team |
| Index terms: | multiple regression analysis, China, accounting, competition, top management team, methodology, annual report, strategy, top manager, manager, database, internationalization |
| Subjects: | business, management, statistical analysis, data management, practitioner, economic analysis, Geography, research methods, market analysis |
| Topics: | Geographical Context, Digital Applications, International Construction, Organizational Design, Business Strategy, Research Practice, Roles and Professions, Governance |
| Descriptive scope: | 4 PCTA |
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