What’s theoretically novel about emerging-market multinationals?
Exequiel Hernandez () and
Mauro F Guillén
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Exequiel Hernandez: University of Pennsylvania
Mauro F Guillén: University of Pennsylvania
Journal of International Business Studies, 2018, vol. 49, issue 1, 24-33
Abstract We review the classic theory of the MNE and past attempts to use it to understand the internationalization of firms from emerging markets. We offer two criteria to determine whether EMNEs modify classic theory or not: (1) establishing appropriate theoretical reference points, and (2) distinguishing between theoretical constructs and empirical variables. We suggest that the literature can benefit from moving beyond comparing EMNEs to DMNEs and focusing instead on more fruitful issues. Specifically, emerging markets offer the opportunity to observe the origin of the capabilities of MNEs in general and the development of the institutional ecosystem that supports internationalization.
Keywords: emerging-market multinationals; institutional context; capabilities and capability development (search for similar items in EconPapers)
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