Entrepreneurship in Cross-border Investments: Cases of Emerging Multinationals’ Strategic Asset-seeking Internationalisation

Drawing from the literature about international entrepreneurship and emerging multinationals, this chapter undertakes a comparative analysis of three cases of Turkish infant multinationals to understand how entrepreneurial internationalisation works in emerging market contexts. The accelerated internationalisation process of these multinationals is analysed under the light of their historical progress. The findings of the study suggest that the increased presence of emerging multinationals in global foreign direct investment is primarily based on the success of these firms’ founding entrepreneur’s vision and ability to manage the underdeveloped institutional context. Another finding highlights the changing entrepreneurial process and behaviour of these firms as new generations started to control these firms. Finally, the impact of the entrepreneurial background on corporate entrepreneurship has been identified as the determinant factor of internationalisation for these cases. The differences and similarities between emerging multinationals and “born global” firms are also mentioned to link the international business and international entrepreneurship sides of the literature.