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India's outward foreign direct investments in steel industry in a Chinese comparative perspective


  • Nagesh Kumar
  • Alka Chadha


Indian and Chinese enterprises have emerged as important outward investors in recent times with their involvement in a number of prominent Greenfield investments and acquisitions. The theory of international business posits that the ownership of some unique advantages having a revenue-generating potential abroad combined with the presence of internalization and locational advantages leads to outward foreign direct investment. Conventional multinational enterprises (MNEs) based in the industrialized countries have grown on the strength of ownership advantages derived from innovatory activity that is largely concentrated in these countries. It examines the case of the steel industry that has become an important sector of overseas activity for Chinese and Indian companies with a string of major acquisitions of foreign MNEs for acquiring footprints and natural resources in order to identify the sources of ownership advantages and strategies of outward investments from emerging countries. Copyright 2009 , Oxford University Press.

Suggested Citation

  • Nagesh Kumar & Alka Chadha, 2009. "India's outward foreign direct investments in steel industry in a Chinese comparative perspective," Industrial and Corporate Change, Oxford University Press, vol. 18(2), pages 249-267, April.
  • Handle: RePEc:oup:indcch:v:18:y:2009:i:2:p:249-267

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    References listed on IDEAS

    1. Kumar, Nagesh, 1991. "Mode of rivalry and comparative behaviour of multinational and local enterprises : The case of Indian manufacturing," Journal of Development Economics, Elsevier, vol. 35(2), pages 381-392, April.
    2. Ping Hua & Hu Xiaoling & Xie Charlene & Hu Xiaoju, 2008. "Globalisation and China's iron and steel industry: modelling China's demand for steel importation," Post-Print hal-00293258, HAL.
    3. Chunlai Chen, 2011. "Foreign Direct Investment in China," Books, Edward Elgar Publishing, number 14100.
    4. John H Dunning, 1998. "Location and the Multinational Enterprise: A Neglected Factor?," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 29(1), pages 45-66, March.
    5. Xiaoling Hu & Hua Ping & Charlene Xie & Xiaoju Hu, 2008. "Globalisation and China's iron and steel industry: Modelling China's demand for steel importation," Journal of Chinese Economic and Foreign Trade Studies, Emerald Group Publishing, vol. 1(1), pages 62-74, January.
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    Cited by:

    1. Vasile Alecsandru STRAT, 2015. "The relationship between the education system and the inflows of FDI for the Central and East European EU new member states," Romanian Journal of Economics, Institute of National Economy, vol. 41(2(50)), pages 76-92, december.
    2. repec:eee:inteco:v:150:y:2017:i:c:p:57-71 is not listed on IDEAS
    3. Tan, Danchi & Meyer, Klaus E., 2010. "Business groups' outward FDI: A managerial resources perspective," Journal of International Management, Elsevier, vol. 16(2), pages 154-164, June.
    4. 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.
    5. Frank Giarratani & Ravi Madhavan & Gene Gruver, 2013. "Steel industry restructuring and location," Chapters,in: Handbook of Industry Studies and Economic Geography, chapter 1, pages 11-37 Edward Elgar Publishing.
    6. Valeria Gattai, 2013. "The dragon and the elephant on the way to Italy," ECONOMIA E POLITICA INDUSTRIALE, FrancoAngeli Editore, vol. 2013(4), pages 63-87.
    7. Giuliani, Elisa & Gorgoni, Sara & Günther, Christina & Rabellotti, Roberta, 2014. "Emerging versus advanced country MNEs investing in Europe: A typology of subsidiary global–local connections," International Business Review, Elsevier, vol. 23(4), pages 680-691.
    8. Narula, Rajneesh & Nguyen, Quyen T.K., 2011. "Emerging country MNEs and the role of home countries: separating fact from irrational expectations," MERIT Working Papers 021, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).

    More about this item

    JEL classification:

    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • L61 - Industrial Organization - - Industry Studies: Manufacturing - - - Metals and Metal Products; Cement; Glass; Ceramics


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