Table of Contents

Handbook of Emerging Market Multinational Corporations

Handbook of Emerging Market Multinational Corporations

Research Handbooks in Business and Management series

Edited by Mehmet Demirbag and Attilia Yaprak

This Handbook, compiled by leading scholars of international business, focuses on why emerging market multinationals internationalize, how they do so, what advantages they explore and exploit as they internationalize, and what strategies they implement when competing abroad. Collectively, these contributions offer interesting insight into emerging market multinationals’ internationalization drivers, growth processes, and expansion behaviour and underscore how these might be similar to and different from the international expansion of developed country internationalizing firms.

Introduction: the rise of internationalizing firms from emerging markets

Attila Yaprak and Mehmet Demirbag

Subjects: business and management, asia business, international business


The rise of emerging markets (EMs) in the new world economic order is perhaps the most significant international business phenomenon today. Khanna and Palepu (2010) explain this by the meteoric rise of these economies, fueled by rising expectations of their burgeoning middle classes creating new markets for every product; their large and low-cost but well-educated labor pools, and high technological and managerial skills; and the growing entrepreneurial classes in them pursuing opportunities for innovation and prosperity. It is clear that the confluence of rapid globalization and technological advances has kindled a revolution in EM consumers to actively participate in the emerging global consumer culture and has energized their firms to partake in the many roles that make up global value chains. The outward foreign direct investments (OFDIs) of EM firms – such as Haier, Baosteel, Huwai Technologies and Lenovo (China); Tata, Ranbaxy, Wipro, and Infosys (India); Embraer and AmBev (Brazil); Gazprom (Russia); SAB Miller (South Africa); Arcelik (Turkey); Teva (Israel); and Cemex (Mexico) – have sometimes outpaced those of their developed economy counterparts, reversing the decades-long foreign direct investment (FDI) trends of the past century.