Edited by Mehmet Demirbag and Attilia Yaprak
Chapter 7: Indian multinationals: location choices of overseas mergers and acquisitions
Emerging-market multinationals (EMNEs) are the relatively new breed of multinationals from the rapidly growing emerging economies of the world whose prominence in the global economic scene has been on the rise over the last couple of decades. Spearheading this new breed are the MNEs (multinational enterprises) from China and India who have garnered a lot of attention, both in the political and economic circles. The Boston Consulting Group (BCG) list (2008) of top 100 companies has 41 and 20 MNEs from China and India, respectively. Following the recent global financial crisis, these emerging economies have played a crucial role in supporting the world economy, which again indicates a strong shift in the dynamism of global trade and economic activity towards Asia and other emerging markets. The scenario is not much different when it comes to the academic world, where there is an increasing focus on providing explanations for this shift, its effects and its implications in terms of what the future holds for the rest of the world. The international business (IB) scholars have been constantly debating on the applicability of the extant theories to EMNEs (Cuervo-Cazurra, 2012; Hennart, 2012; Li, 1998; Luo and Tung, 2007; Mathews, 2006) when compared to the conventional MNEs from the developed economies.
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