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Does Knowledge from Home Markets Boost Outward Foreign Direct Investments of Emerging Economy Multinationals? Evidence from Indian Family EMNEs

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  • Mondal, Arindam

    (XLRI - Xavier School of Management)

  • Gadepalli, Sarada Devi

    (Manchester Institute of Innovation Research)

Abstract

Despite increasing research on multinationals from emerging economies (EMNEs), our understanding of the antecedents of their international expansion is still limited. In this study, we seek to examine whether knowledge gained from operating in their complex and diverse domestic markets deter or aid the outward foreign direct investments of EMNEs. As family firms are dominant in emerging economies, we further explore how heterogeneity within family firms moderate this relationship. We conduct our investigations using a proprietary longitudinal dataset comprising 213 EMNEs from India featuring in the S&P Bombay Stock Exchange (BSE) 500 index covering a six-year period from 2007-08 to 2012-13, of which 175 were family EMNEs and find supporting evidence for our theoretical predictions.

Suggested Citation

  • Mondal, Arindam & Gadepalli, Sarada Devi, 2020. "Does Knowledge from Home Markets Boost Outward Foreign Direct Investments of Emerging Economy Multinationals? Evidence from Indian Family EMNEs," American Business Review, Pompea College of Business, University of New Haven, vol. 23(2), pages 211-240, November.
    • Handle: RePEc:ris:ambsrv:0011
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    Keywords

    Internationalization; Diversification; Family Firm; Socioemotional Wealth; Business Groups; Emerging Economy; Knowledge Based View;
    All these keywords.

    JEL classification:

    • F00 - International Economics - - General - - - General

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