The internationalization of emerging market multinationals : effects of host and home country institutional factors
Document Type
Book chapter
Source Publication
Research on Asian firms : a review and look forward
Publication Date
11-1-2014
First Page
45
Last Page
64
Publisher
Palgrave Macmillan
Abstract
The globalization of the world's economies has sparked an increasing number of studies on firms' internationalization. In recent decades, multinational corporations (MNCs) from emerging market economies, many of which lack firm-specific advantages (FSAs), have expanded rapidly in international markets. The expansion of emerging market mul¬tinational corporations (EMMNCs) has attracted much interest from scholars in the international business field. The leading theories of inter¬nationalization, including the transaction cost perspective, the ownership, location and internalization (OLI) framework, and the knowledge development process model, are largely based on studies of firms from developed economies and emphasize FSAs and the gradual process of knowledge development. These theories are inadequate for explain¬ing the internationalization strategies of firms from less developed countries. The expansion of EMMNCs offers a unique opportunity for theoretical development and empirical study of the factors that drive the internationalization of firms.
DOI
10.1057/9781137407719.0009
Publisher Statement
Copyright © Palgrave Macmillan 2014
Access to external full text or publisher's version may require subscription.
Additional Information
ISBN of the source publication: 9781137407696
Full-text Version
Publisher’s Version
Language
English
Recommended Citation
Zhang, Y., Cui, G., & Chan, T. S. (2014). The internationalization of emerging market multinationals: Effects of host and home country institutional factors. In T. S. Chan & G. Cui (Eds.), The rise of Asian firms: Strengths and strategies (pp. 45-64). Basingstoke: Palgrave Macmillan. doi: 10.1057/9781137407719.0009