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What’s theoretically novel about emerging-market multinationals?

Author

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  • Exequiel Hernandez

    (University of Pennsylvania)

  • Mauro F Guillén

    (University of Pennsylvania)

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.

Suggested Citation

  • Exequiel Hernandez & Mauro F Guillén, 2018. "What’s theoretically novel about emerging-market multinationals?," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 49(1), pages 24-33, January.
    • Handle: RePEc:pal:jintbs:v:49:y:2018:i:1:d:10.1057_s41267-017-0131-7
    DOI: 10.1057/s41267-017-0131-7
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    17. Peter Tashman & Valentina Marano & Tatiana Kostova, 2019. "Walking the walk or talking the talk? Corporate social responsibility decoupling in emerging market multinationals," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 50(2), pages 153-171, March.
    18. Mike W. Peng & Sergey Lebedev & Cristina O. Vlas & Joyce C. Wang & Jason S. Shay, 2018. "The growth of the firm in (and out of) emerging economies," Asia Pacific Journal of Management, Springer, vol. 35(4), pages 829-857, December.
    19. Urbig, Diemo & Procher, Vivien D. & Steinberg, Philip J. & Volkmann, Christine, 2022. "The role of firm-level and country-level antecedents in explaining emerging versus advanced economy multinationals' R&D internationalization strategies," International Business Review, Elsevier, vol. 31(3).

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