What's Theoretically Novel About Emerging-Market Multinationals?

10 Pages Posted: 24 Apr 2018

See all articles by Exequiel Hernandez

Exequiel Hernandez

University of Pennsylvania - The Wharton School

Mauro F. Guillen

University of Pennsylvania - Management Department

Date Written: January 2018

Abstract

We review the classic theory of the MNE and past attempts to use it to understand the internationalization of firms from emerging markets. We offer two criteria to determine whether EMNEs modify classic theory or not: (1) establishing appropriate theoretical reference points, and (2) distinguishing between theoretical constructs and empirical variables. We suggest that the literature can benefit from moving beyond comparing EMNEs to DMNEs and focusing instead on more fruitful issues. Specifically, emerging markets offer the opportunity to observe the origin of the capabilities of MNEs in general and the development of the institutional ecosystem that supports internationalization.

Keywords: emerging-market multinationals, institutional context, capabilities and capability development

Suggested Citation

Hernandez, Exequiel and Guillen, Mauro Federico, What's Theoretically Novel About Emerging-Market Multinationals? (January 2018). Journal of International Business Studies, Vol. 49, Issue 1, 2018, Available at SSRN: https://ssrn.com/abstract=3161421 or http://dx.doi.org/10.1057/s41267-017-0131-7

Exequiel Hernandez (Contact Author)

University of Pennsylvania - The Wharton School ( email )

3641 Locust Walk
Philadelphia, PA 19104-6365
United States

Mauro Federico Guillen

University of Pennsylvania - Management Department ( email )

The Wharton School
Philadelphia, PA 19104-6370
United States
215-573-6267 (Phone)
215-326-3205 (Fax)

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