International Activities of Emerging Market Firms: A Critical Assessment of Research in Top International Management Journals

Management International Review

Volumn 52, Issue 5, 2012, Pages 691-725

  Jormanainen, Irina ^a   Koveshnikov, Alexei ^b  

^a HELSINKI SCHOOL OF ECONOMICS   (Finland)

^b HANKEN SCHOOL OF ECONOMICS   (Finland)

Author keywords

Content analysis; Emerging market firms (EMFs); Internationalization; Top IM journals

Indexed keywords

EID: 84866752561     PISSN: 09388249     EISSN: None     Source Type: Journal    
DOI: 10.1007/s11575-011-0115-y     Document Type: Article

References (98)

1. Ang, S., & Michailova, S. (2008). Institutional explanations of cross-border alliance modes: The case of emerging economies firms. Management International Review, 48(5), 551-576.
2. Aybar, B., & Ficici, A. (2009). Cross-border acquisitions and firm value: An analysis of emerging-market multinationals. Journal of International Business Studies, 40(8), 1317-1338.
3. Barnard, H. (2010). Overcoming the liability of foreignness without strong firm capabilities- the value of market-based resources. Journal of International Management, 16(2), 165-176.
4. Bartunek, J. M., Rynes, S. L., & Ireland, R. D. (2006). What makes management research interesting, and why does it matter?Academy of Management Journal, 49(1), 9-15.
5. Bhaumik, S. K., Driffield, N., & Pal, S. (2010). Does ownership structure of emerging-market firms affect their outward FDI? The case of the Indian automotive and pharmaceutical sectors. Journal of International Business Studies, 41(3), 437-450.
6. Bonaglia, F., Goldstein, A., & Mathews, J. A. (2007). Accelerated internationalization by emerging markets multinationals: The case of the white goods sector. Journal of World Business, 42(4), 369-383.
7. Brauer, M. (2006). What have we acquired and what should we acquire in divesture research? A review and research agenda. Journal of Management, 32(6), 751-785.
8. Buckley, P. J., Clegg, L. J., Cross, A. R., Liu, X., Voss, H., & Zheng, P. (2007). The determinants of Chinese outward foreign direct investment. Journal of International Business Studies, 38(4), 499-518.
9. Buckley, P. J., Cross, A. R., Tan, H., Xin, L., & Voss, H. (2008). Historic and emergent trends in Chinese outward direct investment. Management International Review, 48(6), 715-747.
10. Buckley, P. J., & Ghauri, P. N. (2004). Globalisation, economic geography and the strategy of multinational enterprises. Journal of International Business Studies, 35(2), 81-98.
11. Chen, H., Hu, M. Y., & Hu, P. S. (2002). Ownership strategy of multinationals from ASEAN: The case of their investment in Sino-foreign joint ventures. Management International Review, 42(3), 309-326.
12. Chittoor, R., & Ray, S. (2007). Internationalization paths of Indian pharmaceutical firms: A strategic group analysis. Journal of International Management, 13(3), 338-355.
13. Chittoor, R., Sarkar, M. B., Ray, S., & Aulakh, P. S. (2009). Third-world copycats to emerging multinationals: Institutional changes and organizational transformation in the Indian pharmaceutical industry. Organization Science, 20(1), 187-205.
14. Collinson, S., & Rugman, A. M. (2007). The regional character of Asian multinational enterprises. Asia Pacific Journal of Management, 24(4), 429-446.
15. Contractor, F. J., Kumar, V., & Kundu, S. K. (2007). Nature of the relationship between international expansion and performance: The case of emerging market firms. Journal of World Business, 42(4), 401-417.
16. Cuervo-Cazurra., A. (2007). Sequence of value-added activities in the multinationalization of developing country firms. Journal of International Management, 13(3), 258-277.
17. Cuervo-Cazurra, A. (2008). The multinationalization of developing country MNEs: The case of multilatinas. Journal of International Management, 14(2), 138-154.
18. Cuervo-Cazurra, A., & Genc, M. (2008). Transforming disadvantages into advantages: Developing-country MNEs in the least developed countries. Journal of International Business Studies, 39(6), 957-979.
19. Cui, L., & Jiang, F. (2009). FDI entry mode choice of Chinese firms: A strategic behavior perspective. Journal of World Business, 44(4), 434-444.
20. Del Sol, P., & Kogan, J. (2007). Regional competitive advantage based on pioneering economic reforms: The case of Chilean FDI. Journal of International Business Studies, 38(6), 901-927.
21. Demirbag, M., Tatoglu, E., & Glaister, K. W. (2009). Equity-based entry modes of emerging country multinationals: Lessons from Turkey. Journal of World Business, 44(4), 445-462.
22. Demirbag, M., & Glaister, K. W. (2010). Factors determining offshore location choice for R& D projects: A Comparative study of developed and emerging regions. Journal of Management Studies, 47(8), 1534-1560.
23. Deng, P. (2009). Why do Chinese firms tend to acquire strategic assets in international expansion?Journal of World Business, 44(1), 74-84.
24. DiMaggio, P. J., & Powell, W. W. (1983). The iron cage revisited: Institutional isomorphism and collective rationality in organizational fields. American Sociological Review, 48(2), 147-160.
25. DuBois, F. L., & Reeb, D. (2000). Ranking the international business journals. Journal of International Business Studies, 34(4), 689-704.
26. Dunning, J. (2006). Comment on dragon multinationals: New players in 21st century globalization. Asia Pacific Journal of Management, 23(2), 139-141.
27. Dunning, J. H., & Lundan, S. M. (2008). Institutions and the OLI paradigm of the multinational enterprise. Asia Pacific Journal of Management, 25(4), 573-593.
28. Duriau, V. J., Reger, R., & Pfarrer, M. D. (2007). A content analysis of the content analysis literature in organization studies: Research themes, data sources, and methodological refinements. Organizational Research Methods, 10(5), 5-34.
29. Egri, C. P., & Ralston, D. A. (2008). Corporate responsibility: A review of international management research from 1998-2007. Journal of International Management, 14(4), 319-339.
30. Elango, B., & Pattnaik, C. (2007). Building capabilities for international operations through networks: A study of Indian firms. Journal of International Business Studies, 38(4), 541-555.
31. Fabian, F., Molina, H., & Labianca, G. (2009). Understanding decisions to internationalize by small and medium-sized firms located in an emerging market. Management International Review, 49(5), 537-564.
32. Ford, E. W., Duncan, W. J., Bedeian, A. G., Ginter, P. M., Rousculp, M. D., & Adams, A. M. (2005). Mitigating risks, visible hands, inevitable disasters, and soft variables: Management research that matters to managers. Academy of Management Executive, 19(4), 24-38.
33. FTSE. (2010). FTSE emerging markets indices. http://www. ftse. com/Indices/FTSE_Emerging_Markets/index. jsp. Accessed 2 Nov 2010.
34. Gammeltoft, P., Barnard, H., & Madhok, A. (2010). Emerging multinationals, emerging theory: Macro- and micro-level perspectives. Journal of International Management, 16(2), 95-101.
35. Gomez-Mejia, L. R., & Balkin, D. B. (1992). Determinant of faculty pay: An agency theory perspective. Academy of Management Journal, 35(5), 921-955.
36. Granovetter, M. (1985). Economic action and social structure: The problem of embeddedness. American Journal of Sociology, 91(3), 481-510.
37. Griffith, D. A., Cavusgil, S. T., & Xu, S. (2008). Emerging themes in international business research. Journal of International Business Studies, 39(7), 1220-1235.
38. Gubbi, S. R., Aulakh, P. S., Ray, S., Sarkar, MB., & Chittoor, R. (2010). Do international acquisitions by emerging-economy firms create shareholder value? The case of Indian firms. Journal of International Business Studies, 41(3), 397-418.
39. Guillen, M. F., & Garcia-Canal, E. (2009). The American model of the multinational firm and the "new" multinationals from emerging economies. Academy of Management Perspective, 23(2), 23-35.
40. Kalotay, K., & Sulstarova, A. (2010). Modelling Russian outward FDI. Journal of International Management, 16(2), 131-142.
41. Klein, S., & Wöcke, L. (2007). Emerging global contenders: The South African experience. Journal of International Management, 13(3), 319-337.
42. Knoerich, J. (2010). Gaining from the global ambitions of emerging economy enterprises: An analysis of the decision to sell a German firm to a Chinese acquirer. Journal of International Management, 16(2), 177-191.
43. Kotabe, M., Jiang, C. X., & Murray, J. Y. (2010). Managerial ties, knowledge acquisition, realized absorptive capacity and new product market performance of emerging multinational companies: A case of China. Journal of World Business, 46(2), 166-176.
44. Krippendorff, K. (2004). Content analysis. An introduction to its methodology (2nd ed.). Thousand Oaks: Sage.
45. Lahiri, S. (2011). India-focused publications in leading international business journals. Asia Pacific Journal of Management, 28(2), 427-447.
46. Lall, S. (1983). The new multinationals. New York: Wiley.
47. Lane, P. J., & Lubatkin, M. (1998). Relative absorptive capacity and interorganizational learning. Strategic Management Journal, 19(5), 461-477.
48. Lecraw, D. (1977). Direct investment by firms from less developed countries. Oxford Economic Papers, New Series, 29(3), 442-457.
49. Lecraw, D. J. (1993). Outward direct investment by indonesian firms: Motivation and effects. Journal of International Business Studies, 24(3), 589-600.
50. Li, J., & Yao, F. K. (2010). The role of reference groups in international investment decisions by firms from emerging economies. Journal of International Management, 16(2), 143-153.
51. Li, P. P. (2007). Toward an integrated theory of multinational evolution: The evidence of Chinese multinational enterprises as latecomers. Journal of International Management, 13(3), 296-318.
52. Liu, X., Buck, T., & Shu, C. (2005). Chinese economic development, the next stage: outward FDI?International Business Review, 14(1), 97-115.
53. Liu, Y., Li, Y., & Xue, J. (2010). Ownership, strategic orientation and internationalization in emerging markets. Journal of World Business, in press.
54. Liu, X., Xiao, W., & Huang, X. (2008). Bounded entrepreneurship and internationalisation of indigenous private-owned firms. International Business Review, 17(4), 488-508.
55. Liu, C. Z. (2007). Lenovo: An example of globalization of Chinese enterprises. Journal of International Business Studies, 38(4), 573-577.
56. LePine, J. A., & Wilcox-King, A. (2010). Editors' comments: Developing novel theoretical insight from reviews of existing theory and research. Academy of Management Review, 35(4), 506-509.
57. Lu, Y., Zhou, L., Bruton, G., & Li, W. (2010). Capabilities as a mediator linking resources and the international performance of entrepreneurial firms in an emerging economy. Journal of International Business Studies, 41(3), 419-436.
58. Lundan, S. M. (2010). What are Ownership Advantages?Multinational Business Review, 18(2), 51-70.
59. Luo, Y., & Tung, R. L. (2007). International expansion of emerging market enterprises: A springboard perspective. Journal of International Business Studies, 38(4), 481-498.
60. Luo, Y., Xue, Q., & Han, B. (2010). How emerging market governments promote outward FDI: Experience from China. Journal of World Business, 45(1), 68-79.
61. Manolova, T. S., Manev, I. M., & Gyoshev, B. S. (2010). In good company: The role of personal and inter-firm networks for new-venture internationalization in a transition economy. Journal of World Business, 45(3), 257-265.
62. Markides, C. (2007). In search of ambidextrous professors. Academy of Management Journal, 50(4), 762-768.
63. Meyer, E. K. M., & Peng, W. M. (2005). Probing theoretically into Central and Eastern Europe: Transactions, resources, and institutions. Journal of International Business Studies, 36, 600-621.
64. Miles, M. B., & Huberman, M. (1994). Qualitative data analysis: An expanded sourcebook. Thousand Oaks: Sage, 2 ed.
65. Miller, S. R., Thomas, D. E., Eden, L., & Hitt, M. (2008). Knee deep in the big muddy: The survival of emerging market firms in developed markets. Management International Review, 48(6), 645-665.
66. Morck, R., Yeung, B., & Zhao, M. Y. (2008). Perspectives on China's outward foreign direct investment. Journal of International Business Studies, 39(3), 337-351.
67. MSCI. (2010). MSCI international equity indices. http://www. mscibarra. com/products/indices/international_equity_indices. Accessed 2 Nov 2010.
68. Musteen, M., Francis, J., & Datta, D. K. (2010). The influence of international networks on internationalization speed and performance: A study of Czech SMEs. Journal of World Business, 45(3), 197-205.
69. Nachum, L. (2004). Geographic and industrial diversification of developing country firms. Journal of Management Studies, 41(2), 273-294.
70. North, D. C. (1990). Institutions, institutional change and economic performance. Cambridge: Cambridge University Press.
71. Nguyen, T. D., Barrett, N. J., & Fletcher, R. (2006). Information internalisation and internationalisation-Evidence from Vietnamese firms. International Business Review, 15(6), 682-701.
72. OECD (Organization for Economic Cooperation and Development). 2006. Emerging Multinationals: Who are they? What do they do? What is at stake? Paris: OECD.
73. Oviatt, B. M., & McDougall, P. P. (1994) Toward a theory of international new ventures. Journal of International Business Studies, 25(1), 45-64.
74. Pananond, P. (2007). The changing dynamics of Thai multinationals after the Asian economic crisis. Journal of International Management, 13(3), 356-375.
75. Pertou, A. (2007). Multinational banks from developing versus developed countries: Competing in the same arena?Journal of International Management, 13(3), 376-397.
76. Pisani, N. (2009). International Management research: Investigating its recent diffusion in top management journals. Journal of Management, 35(2), 199-218.
77. Prashantham, S., & Dhanaraj, C. (2010). The dynamic influence of social capital on the international growth of new ventures. Journal of Management Studies, 47(6), 967-994.
78. Quer, D., Claver, E., & Rienda, L. (2007). Business and management in China: a review of empirical research in leading international journals. Asia Pacific Journal of Management, 24(3), 359-384.
79. Ramamurti, R., & Singh, J. V. (Eds.). (2009). Emerging multinationals from emerging markets. Cambridge: Cambridge University Press.
80. Roth, K., & Kostova, T. (2003). Organizational coping with institutional upheaval in transition economies. Journal of World Business, 38(4), 314-331.
81. Rui, H., & Yip, G. S. (2008). Foreign acquisitions by Chinese firms: A strategic intent perspective. Journal of World Business, 43(2), 213-226.
82. Rynes, S., Bartunek, J., & Daft, R. L. (2001). Across the great divide: Knowledge creation and transfer between practitioners and academics. Academy of Management Journal, 44(2), 340-355.
83. Styhre, A., & Lind, F. (2010). The softening bureaucracy: Accommodating new research opportunities in the entrepreneurial university. Scandinavian Journal of Management, 26(2), 107-120.
84. Suddaby, R., & Greenwood, R. (2005). Rhetorical strategies of legitimacy. Administrative Science Quarterly, 50(1), 35-67.
85. Svetlicic, M. (2004). Transition economies multinationals - Are they different from Third World multinationals? In C. Chakraborty (Ed.), Proceedings of the 8th International conference on Global Business and Economic Development. Guadalajara, Mexico: Montclair State University.
86. The Economist. (2007). India's acquisitive companies: Marauding maharajahs, March 31st. March, 71-72.
87. The Economist. (2010a). Special report on the world economy. 9th October. pp. 3-30.
88. The Economist. (2010b). Grow, grow, grow. What makes emerging-market companies run. 17th April. pp. 7-9.
89. Thomas, D. E., Eden, L., Hitt., M. A., & Miller, S. R. (2007). Experience of emerging market firms: The role of cognitive bias in developed market entry and survival. Management International Review, 47(6), 845-867.
90. Tolentino, P. E. (1993). Technological innovation and third world multinationals. London: Routledge.
91. Tolentino, P. E. (2010). Home country macroeconomic factors and outward FDI of China and India. Journal of International Management, 16(2), 102-120.
92. UNCTAD (United Nations Conference on Trade and Development). (2006). World Investment Report 2006. New York: United Nations.
93. Uzzi, B. (1996). The sources and consequences of embeddedness for the economic performance of organizations: The network effect. American Sociological Review, 61(4), 674-698.
94. Vermeulen, F. (2007). "I shall not remain insignificant": Adding a second loop to matter more. Academy of Management Journal, 50(4), 754-761.
95. Welch, C., Piekkari, R., Plakoyiannaki, E., & Paavilainen-Mäntymäki, E. (2011). Theorising from case studies: Towards a pluralist future for international business research. Journal of International Business Studies, 42(5), 740-762.
96. Yin, R. K. (2003). Case Study Research. Design and Methods. Thousand Oaks: Sage.
97. Yiu, D. W., Lau, C. M., & Bruton, G. D. (2007). International venturing by emerging economy firms: The effects of firm capabilities, home country networks, and corporate entrepreneurship. Journal of International Business Studies, 38(3), 519-540.
98. Zhao, W., Liu, L., & Zhao, T. (2010). The contribution of outward direct investment to productivity changes within China, 1991-2007. Journal of International Management, 16(2), 121-130.