Title

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

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