雙重（內部和外部）鑲嵌是多國籍企業子公司獲取當地創新和增長資源的關鍵方法，而這最終也將使其母公司受益。過往的研究著重於知識逆移轉與雙重鑲嵌的關係，關於雙重鑲嵌與子公司績效關係的研究並不多。此外，先前的研究僅關注內部鑲嵌或外部鑲嵌其一，很少同時探討這兩種鑲嵌對子公司績效的不同影響。為了填補研究缺口，本研究將探討雙重鑲嵌與子公司績效之間的關係，以及子公司採取不同自發性行動（探索式或利用式創新）和地主國體制缺陷的調節效果。本研究透過對 1,831 家臺灣多國籍企業樣本進行順序邏輯迴歸分析，主要發現如下：（1）子公司的內部鑲嵌和外部鑲嵌均對子公司的績效產生正向影響。(2) 內部鑲嵌與子公司績效之間的關係受到子公司探索式創新和地主國體制缺陷的負面調節。本研究結果提供了多國籍企業管理領域的學術貢獻，以及多國籍企業子母公司間的實務管理意涵。

Dual (internal and external) embeddedness is a crucial approach for the MNE subsidiary to acquire resources for local innovation and growth that will eventually benefit the MNE parent. Previous research has studied the relationship between reverse knowledge transfer and dual embeddedness; but rare research on the relationship between dual embeddedness and subsidiary performance has been found. Moreover, the prior research only focuses on either internal or external embeddedness but rarely pays attention to the differential effect of these two embeddedness on the firm performance. To fill this research gap, we explore the relationship between dual embeddedness and subsidiary performance in contingency with different subsidiary innovative initiatives and local institutional difficulty. Applying a sample set of 1,831 Taiwanese MNEs with ordinal logit regression, we found that: (1) the subsidiary’s internal and external embeddedness both positively influence the subsidiary’s performance; (2) the relationship between internal embeddedness and the subsidiary’s performance is negatively moderated by the subsidiary's explorative initiatives and local institutional voids. Our findings provide some academic contributions to the MNE-subsidiary context of IB literature as well as managerial implications.

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