The corporate entrepreneurship literature has recently been enriched by Birkinshaw's research on subsidiary initiatives in multinational enterprises (MNEs). In this article, we extend that work by discussing the conceptual and practical importance of distinguishing between strategic renewal and corporate venturing in subsidiaries. We present a set of propositions suggesting that the determinants of the two types of initiatives are different. We conclude with implications for both practitioners and researchers studying entrepreneurship in large MNEs.
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