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Pre-Liberalization Foundations and the FDI-Based Internationalization of SMEs from Emerging Markets

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  • Sushma Kumari

    (University of Hull)

  • Vikrant Shirodkar

    (University of Sussex Business School)

  • Steven McGuire

    (University of Sussex Business School)

Abstract

Research on the internationalization of small and medium enterprises based in emerging markets (EM-SMEs) is gaining momentum, yet, less is known about the specific factors that deter EM-SMEs’ from internationalizing via foreign direct investment (FDI). In this paper, using institutional and organizational imprinting perspectives, we argue that EM-SMEs founded in the era prior to market liberalization are less likely to internationalize via FDI than those founded during or after market liberalization. We also argue that this effect is moderated by EM-SMEs’ size and ownership dispersion. Our data used to test our hypotheses is based on 2277 SMEs from 14 emerging markets. Overall, we contribute to an improved understanding of the factors that determine the FDI-based internationalization of SMEs from emerging markets.

Suggested Citation

  • Sushma Kumari & Vikrant Shirodkar & Steven McGuire, 2023. "Pre-Liberalization Foundations and the FDI-Based Internationalization of SMEs from Emerging Markets," Management International Review, Springer, vol. 63(4), pages 641-671, August.
    • Handle: RePEc:spr:manint:v:63:y:2023:i:4:d:10.1007_s11575-023-00508-2
    DOI: 10.1007/s11575-023-00508-2
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