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Charting Dynamic Trajectories: Multinational Enterprises in India

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  • Choudhury, Prithwiraj
  • Khanna, Tarun

Abstract

In this article, we provide a synthesizing framework that we call the “dynamic trajectories†framework to study the evolution of multinational enterprises (MNEs) in host countries over time. We argue that a change in the policy environment in a host country presents an MNE with two sets of interrelated decisions. First, the MNE has to decide whether to enter, exit, or stay in the host country at the onset of each policy epoch; second, conditional on the first choice, it has to decide on its local responsiveness strategy at the onset of each policy epoch. India, which experienced two policy shocks—shutting down to MNEs in 1970 and then opening up again in 1991—offers an interesting laboratory to explore the “dynamic trajectories†perspective. We collect and analyze a unique dataset of all entry and exit events for Fortune 50 and FTSE 50 firms (as of 1991) in India in the period from 1858 to 2013 and, additionally, we document detailed case studies of four MNEs (that arguably represent outliers in our sample).

Suggested Citation

  • Choudhury, Prithwiraj & Khanna, Tarun, 2014. "Charting Dynamic Trajectories: Multinational Enterprises in India," Business History Review, Cambridge University Press, vol. 88(1), pages 133-169, April.
    • Handle: RePEc:cup:buhirw:v:88:y:2014:i:01:p:133-169_00
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    Cited by:

    1. Leymann, Gunnar & Lundan, Sarianna, 2023. "From structural to transition effects: Institutional dynamism as a deterrent to long-term investments by MNEs," International Business Review, Elsevier, vol. 32(3).
    2. Aldous, Michael & Conroy, Kieran M., 2021. "Navigating institutional change: An historical perspective of firm responses to pro-market reversals," Journal of International Management, Elsevier, vol. 27(2).
    3. Sousa, Carlos M.P. & He, Xinming & Lengler, Jorge & Tang, Linhan, 2021. "Foreign market re-entry: A review and future research directions," Journal of International Management, Elsevier, vol. 27(2).
    4. Thakur–Wernz, Pooja & Wernz, Christian, 2022. "Impact of stronger intellectual property rights regime on innovation: Evidence from de alio versus de novo Indian bio-pharmaceutical firms," Journal of Business Research, Elsevier, vol. 138(C), pages 457-473.

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