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Local enablers of business models: The experience of Brazilian multinationals acquiring in North America

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  • Fleury, Afonso
  • Fleury, Maria Tereza Leme
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    Abstract

    Despite the rapid growth of South–North investments, the literature is still incipient to look into the broad range of issues associated with them. This article focuses on reverse takeovers and discusses the reasons why emerging-country firms, Brazilian multinationals in particular, are able to profitably acquire firms in developed countries, chiefly in the United States. The research addresses two specific subjects in international business literature: country-choice and entry-mode. The analytical approach assumes that reverse takeovers are part of the dynamic reconfiguration of global production systems which, in turn, are influenced by shifting conditions in countries' business environments. Changes in business environments impact local firms' business models and their positioning in global production networks and international markets as well. Reverse takeovers are facilitated when both the simultaneous evolution of the developed country multinational and the emerging country multinational business models establish a common ground for the transaction. Through the analysis of Brazilian multinationals' acquisitions in North America, relevant insights pertaining to the realms of firm-specific advantages, country-choice and entry mode in reverse takeovers are unveiled.

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    Bibliographic Info

    Article provided by Elsevier in its journal Journal of Business Research.

    Volume (Year): 67 (2014)
    Issue (Month): 4 ()
    Pages: 516-526

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    Handle: RePEc:eee:jbrese:v:67:y:2014:i:4:p:516-526

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    Web page: http://www.elsevier.com/locate/jbusres

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    Keywords: Emerging country multinationals; Internationalization; Business models; Brazil;

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    1. Fleury, Afonso & Fleury, Maria Tereza Leme & Borini, Felipe Mendes, 2012. "Is production the core competence for the internationalization of emerging country firms?," International Journal of Production Economics, Elsevier, vol. 140(1), pages 439-449.
    2. John Child & Suzana B. Rodrigues, 2005. "The Internationalization of Chinese Firms: A Case for Theoretical Extension?," Management and Organization Review, International Association of Chinese Management Research, vol. 1(3), pages 381-410, November.
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    7. Morris, Michael & Schindehutte, Minet & Allen, Jeffrey, 2005. "The entrepreneur's business model: toward a unified perspective," Journal of Business Research, Elsevier, vol. 58(6), pages 726-735, June.
    8. Mike W Peng & Denis Y L Wang & Yi Jiang, 2008. "An institution-based view of international business strategy: a focus on emerging economies," Journal of International Business Studies, Palgrave Macmillan, vol. 39(5), pages 920-936, July.
    9. Rugman, Alan M. & Li, Jing, 2007. "Will China's Multinationals Succeed Globally or Regionally?," European Management Journal, Elsevier, vol. 25(5), pages 333-343, October.
    10. Soares, Ana Maria & Farhangmehr, Minoo & Shoham, Aviv, 2007. "Hofstede's dimensions of culture in international marketing studies," Journal of Business Research, Elsevier, vol. 60(3), pages 277-284, March.
    11. Sethi, S. Prakash & Elango, B., 1999. "The influence of "country of origin" on multinational corporation global strategy: A conceptual framework," Journal of International Management, Elsevier, vol. 5(4), pages 285-298.
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