Table of Contents

Handbook of Contemporary Research on Emerging Markets

Handbook of Contemporary Research on Emerging Markets

Research Handbooks in Business and Management series

Edited by Hemant Merchant

The Handbook brings together leading scholars from IB as well as other disciplines to contribute state-of-the-art thinking on emerging markets. The volume extends theoretical and conceptual thinking, looks at operational practices and their implications and provides a research agenda to move the field forward. The contributors offer an in-depth look at specific geographies and functional areas to enrich our understanding of emerging markets.

Chapter 4: Emerging market multinationals and theory development: a multi-theoretical approach

Alvaro Cuervo-Cazurra

Subjects: business and management, asia business, international business


Emerging market multinational companies (EMNCs) as a topic of inquiry is receiving increasing attention in the literature. Initial analyses of the topic in the 1970s and 1980s identified these firms as being state-owned or state-supported, operating in natural resources, and using simpler technologies than advanced economy multinational companies (AMNCs) (for example, Aggarwal and Agmon, 1990; Ghymn, 1980; Heenan and Keegan, 1979; Kumar and McLeod, 1981; Lall, 1983; Lecraw, 1977, 1993; Vernon-Wortzel and Wortzel, 1988; Wells, 1983). In the 2010s these perceptions have changed, partly because emerging economies improved after the pro-market reforms of the 1990s and partly because the set of EMNCs is different. Although there are still EMNCs that are state-owned and operate in natural resources, there are also private ones operating in high-tech industries (for example, see the articles in the special issues edited by Aulakh, 2007; Cuervo-Cazurra, 2012; Gammeltoft, Barnard and Madhok, 2010; and Luo and Tung, 2007; the chapters in the books edited by Cuervo-Cazurra and Ramamurti, 2014; Sauvant, 2008; Sauvant, Maschek and McAllister, 2010; Ramamurti and Singh, 2009; and Williamson et al., 2013). The result of this increasing interest in the topic has been a lively debate on the value of analyzing EMNCs as a separate type of multinational. Cuervo-Cazurra (2012) summarizes this Goldilocks debate, and it is further analyzed by Aharoni (2014) and Godley (2014).

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.

Further information