Skip to main content

International Business and Emerging Economy Firms: Present Characteristics and Future Trends

  • Chapter
  • First Online:
International Business and Emerging Economy Firms

Abstract

Due to their consistent successful international expansion, emerging economy firms have continually attracted the attention of international business scholars. They face them with a plethora of challenges as existing international business theories, developed overtime in the Western context, often inevitably fail to explain how emerging economy firms internationalise and what accounts for their successful foreign operations. While emerging economies were in the past seen as markets and/or providers of resources targeted by expansion and opportunistic driven Western firms, present-day multinationals from emerging economies have become their contestants in multiple fields and industries worldwide. Besides, digitalisation, provide opportunities for firms, more importantly small companies, regardless of their origin, to compete successfully in the world marketplace where many small and medium-sized firms from emerging economies have established their international presence.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 119.00
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD 159.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info
Hardcover Book
USD 159.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

References

  • Allard, G. (2012). Chinese OFDI in Africa: Trends, prospects, and threats. In I. Alon, M. Fetscherin, & P. Gugler (Eds.), Chinese international investments (1st ed., pp. 279–299). Basingstoke: Palgrave Macmillan.

    Chapter  Google Scholar 

  • Alon, I., Anderson, J., Munim, Z. H., & Ho, A. (2018). A review of the internationalization of Chinese enterprises. Asia Pacific Journal of Management,35, 573–605.

    Article  Google Scholar 

  • Andersson, S., Danilovic, M., & Huang, H. (2015). Success factors in Western and Chinese born global companies. iBusiness,7, 25–38.

    Article  Google Scholar 

  • Boisot, M., & Meyer, M. W. (2008). Which way through the open door? Reflections on the internationalization of Chinese firms. Management and Organization Review,4(3), 349–365.

    Article  Google Scholar 

  • Buckley, P. J., Clegg, J., Cross, A. R., Liu, X., Voss, H., & Zheng, P. (2007). The determinants of Chinese outward foreign direct investment. Journal of International Business Studies,38(4), 499–518.

    Google Scholar 

  • Buckley, P. J., Clegg, L. J., Voss, H., Cross, A. R., Liu, X., & Zheng, P. (2018). A retrospective and agenda for future research on Chinese outward foreign direct investment. Journal of International Business Studies,49(1), 4–23.

    Article  Google Scholar 

  • Casanova, L. (2009). Global Latinas. Fontainebleau: INSEAD Business Press; Basingstoke: Palgrave Macmillan.

    Google Scholar 

  • Chen, W., Dollar, D., & Tang, H. (2018). Why is China investing in Africa? Evidence from the firm level. The World Bank Economic Review,32(3), 610–632.

    Google Scholar 

  • Child, J., & Rodrigues, S. B. (2005). The internationalization of Chinese firms: A case for theoretical extension? Management and Organization Review,1(3), 381–410.

    Article  Google Scholar 

  • Clegg, J., Lin, H. M., Voss, H., Yen, I.-F., & Shih, Y. T. (2016). The OFDI patterns and firm performance of Chinese firms: The moderating effects of multinationality strategy and external factors. International Business Review,25, 971–985.

    Article  Google Scholar 

  • Cuervo-Cazurra, A., & Genc, M. (2008). Transforming disadvantages into advantages: Developing-country MNEs in the least developed countries. Journal of International Business Studies,39(6), 957–979.

    Article  Google Scholar 

  • Deng, P. (2012). The internationalization of Chinese firms: A critical review and future research. International Journal of Management Reviews,14(4), 408–427.

    Article  Google Scholar 

  • Donou-Adonsou, F., & Lim, S. (2018). On the importance of Chinese investment in Africa. Review of Development Finance,8, 63–73.

    Article  Google Scholar 

  • Fleury, A., & Fleury, M. T. L. (2011). Brazilian multinationals: Competences for internationalization. Cambridge: Cambridge University Press.

    Book  Google Scholar 

  • Haasis, T. I., & Liefner, I. (2019). Reviewing the research on the internationalization of Chinese firms: Thematic expansion, new impulses and potential future development. International Journal of Emerging Markets,14(1), 24–50.

    Article  Google Scholar 

  • Jonsson, A. (2017). Dragons with horsepower: Learning about the internationalization process of emerging market firms. In S. Marinova, J. Larimo, & N. Nummela (Eds.), Value creation in international business: Volume 1: An MNC perspective (1st ed., pp. 363–382). Basingstoke: Palgrave Macmillan.

    Google Scholar 

  • Jormanainen, I., & Koveshnikov, A. (2012). International activities of emerging market firms: A critical assessment of research in top international management journals. Management International Review,52, 691–725.

    Article  Google Scholar 

  • Kaplinsky, R., & Morris, M. (2012). Chinese OFDI in sub-Saharan Africa. In I. Alon, M. Fetscherin, & P. Gugler (Eds.), Chinese international investments (1st ed., pp. 300–325). Basingstoke: Palgrave Macmillan.

    Chapter  Google Scholar 

  • Kolstad, I., & Wiig, A. (2012). What determines Chinese outward FDI? Journal of World Business,47(1), 26–34.

    Article  Google Scholar 

  • Koomson-Abekah, I., & Nwaba, E. C. (2018). Africa-China investment and growth link. Journal of Chinese Economic and Foreign Trade Studies,11(2), 132–150.

    Article  Google Scholar 

  • Kujala, I., & Törnroos, J.-Ã…. (2018). Internationalizing through networks from emerging to developed markets with a case study from Ghana to the U.S.A. Industrial Marketing Management,69, 98–109.

    Article  Google Scholar 

  • Leposky, T., Arslan, A., & Kontkanen, M. (2016). Determinants of reverse marketing knowledge transfer potential from emerging market subsidiaries to multinational enterprises’ headquarters. Journal of Strategic Marketing,25(7), 567–580.

    Article  Google Scholar 

  • Lopez-Morales, J. S. (2018). Multilatinas: A systematic literature review. Review of International Business and Strategy,28(3/4), 331–357.

    Article  Google Scholar 

  • Marinov, M. A., & Marinova, S. T. (2012). Internationalization of emerging economies and firms. Basingstoke: Palgrave Macmillan.

    Book  Google Scholar 

  • Marinova, S., Child, J., & Marinov, M. (2011). Evolution of firm- and country-specific advantages and disadvantages in the process of Chinese firm internationalization. In C. G. Asmussen, T. Pedersen, T. M. Devinney, & L. Tihanyi (Eds.), Dynamics of globalization: Location-specific advantages or liabilities of foreignness? Advances in international management (Vol. 24, pp. 235–269). Oxford: Elsevier.

    Google Scholar 

  • Marinova, S., & Marinov, M. (2017). Inducing the internationalisation of family manufacturing firms from a transition context. European Business Review,29(2), 181–204.

    Article  Google Scholar 

  • Matthee, M., & Krugell, W. (2012). Barriers to internationalisation: Firm-level evidence from South Africa. Oeconomica,57(1), 3–20.

    Google Scholar 

  • McCarthy, D. J., Puffer, S. M., & Vikhanski, O. S. (2009). Russian multinationals: Natural resource champions. In R. Ramamurti & J. V. Singh (Eds.), Emerging multinationals in emerging markets (1st ed., pp. 167–199). Cambridge: Cambridge University Press.

    Google Scholar 

  • Miller, D., Lee, J., Chang, S., & Breton-Miller, I. L. (2009). Filling the institutional void: The social behaviour and performance of family vs. non-family technology firms in emerging markets. Journal of International Business Studies,40, 802–817.

    Article  Google Scholar 

  • Panibratov, A. (2012). Russian multinationals: From regional supremacy to global lead. Abingdon: Routledge.

    Google Scholar 

  • Paul, J., & Benito, G. R. G. (2017). A review of research on outward foreign direct investment from emerging countries, including China; what do we know, how do we know and where should we be heading. Asia Pacific Business Review,24(1), 90–115.

    Article  Google Scholar 

  • Prahalad, C. K. (2004). The fortune at the bottom of the pyramid: Eradicating poverty through profits. Upper Saddle River, NJ: Wharton School Publishing.

    Google Scholar 

  • Quer, D., Claver, E., & Rienda, L. (2015). Chinese outward foreign direct investment: A review of empirical research. Frontiers of Business Research in China,9(3), 326–370.

    Google Scholar 

  • Ramamurti, R., & Singh, J. V. (2009). Indian multinational: Generic internationalizations strategies. In R. Ramamurti & J. V. Singh (Eds.), Emerging multinationals in emerging markets (1st ed., pp. 110–166). Cambridge: Cambridge University Press.

    Chapter  Google Scholar 

  • Simanis, E., & Hart, S. (2009). Innovation from the inside out. MIT Sloan Management Review,50(4), 76–86.

    Google Scholar 

  • The World Investment Report. (2018). Investment and new industrial policies. Geneva: United Nations Publications.

    Google Scholar 

  • Wang, C., Hong, J., Kafouros, M., & Wright, M. (2012). Exploring the role of government involvement in outward FDI from emerging economies. Journal of International Business Studies,43(7), 655–676.

    Article  Google Scholar 

  • Woetzel, J., et al. (2018). Outperformers: High-growth emerging economies and the companies that propel them. McKinsey Global Institute. https://www.mckinsey.com/~/media/mckinsey/featured%20insights/innovation/outperformers%20high%20growth%20emerging%20economies%20and%20the%20companies%20that%20propel%20them/mgi-outperformers-full-report-sep-2018.ashx. Accessed 12 Apr 2019.

  • Yaprak, A., Demirbag, M., & Wood, G. (2018). Post-acquisition strategies of emerging market internationalizing enterprises: The state of the art in research and future research directions. Journal of Business Research,93(2), 90–97.

    Article  Google Scholar 

Download references

Author information

Authors and Affiliations

Authors

Corresponding author

Correspondence to Marin A. Marinov .

Editor information

Editors and Affiliations

Rights and permissions

Reprints and permissions

Copyright information

© 2020 The Author(s)

About this chapter

Check for updates. Verify currency and authenticity via CrossMark

Cite this chapter

Marinov, M.A., Marinova, S.T., Larimo, J.A., Leposky, T. (2020). International Business and Emerging Economy Firms: Present Characteristics and Future Trends. In: Marinov, M.A., Marinova, S.T., Larimo, J.A., Leposky, T. (eds) International Business and Emerging Economy Firms. Palgrave Studies of Internationalization in Emerging Markets. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-24482-8_1

Download citation

Publish with us

Policies and ethics