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.

Chapter 3: Explaining the internationalization of emerging-economy multinationals: the relative resource specialization of firm and environment

Alvaro Cuervo-Cazurra, Klaus Meyer and Ravi Ramamurti

Subjects: business and management, asia business, international business


We study how the conditions of the country of origin of a firm influence its internationalization, analyzing emerging economy multinational companies (EMNCs) as a laboratory for extending theory. EMNCs have been observed to vary from advanced-economy MNCs (AMNCs), suggesting that the home context is the critical explanation. We propose relative resource specialization as the mechanism explaining differences and argue that firms in emerging economies develop a lower degree of resource specialization and wider sets of resources in response to underdevelopment at home. These more varied sets of resources lead EMNCs to have lower levels of internationalization and different patterns of foreign expansion than AMNCs.

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