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The Internationalization Of Mnes From And To Brics Countries: The Case Of The Industrial Machinery Industry

Author

Listed:
  • Fiorenza Belussi

    (University of Padova)

  • Giulia Rudello

    (University of Padova)

  • Maria Savarese

    (University of Padova)

Abstract

Global investment trends changed radically in past decades. An important issue, still open in the literature, refers to emerging multinational enterprises (EMNEs) internationalization processes and whether they are dissimilar or not to those of developed countries multinational enterprises-DMNEs. The aim of this analysis is to study the different internationalization patterns and drivers of EMNEs and DMNEs by using the acquisitions and joint ventures from BRICSs to Triad countries and from Triad countries to BRICSs occurred in the industrial machinery industry from 2000 to 2014. Our data shows that DMNEs internationalisation pattern is profoundly different from the EMNEs internationalisation pattern. This is in line with EMNEs need to control critical assets and resources, especially technologies and “knowledge assets”. In fact they acquire firms high technological potentialities. DMNEs balance their transaction between acquisition and joint-ventures, looking at non innovative firms when they use the acquisition mode while they are more focused on innovative firms and branded firms when they establish a joint-ventures.

Suggested Citation

  • Fiorenza Belussi & Giulia Rudello & Maria Savarese, 2016. "The Internationalization Of Mnes From And To Brics Countries: The Case Of The Industrial Machinery Industry," "Marco Fanno" Working Papers 0205, Dipartimento di Scienze Economiche "Marco Fanno".
    • Handle: RePEc:pad:wpaper:0205
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    More about this item

    Keywords

    MNEs; emerging countries MNEs; acquisitions; joint-ventures.;
    All these keywords.

    JEL classification:

    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • L64 - Industrial Organization - - Industry Studies: Manufacturing - - - Other Machinery; Business Equipment; Armaments
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance

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