Handbook of Emerging Market Multinational Corporations
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Handbook of Emerging Market Multinational Corporations

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.
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Chapter 9: Dynamic capabilities, managerial mindsets and the outcomes of internationalization: the case of Chinese state-owned enterprises

Lan Gao, Xiaohui Liu and Eleni Lioliou


Despite the potential benefits of internationalization, firm performance associated with foreign direct investment (FDI) has been disappointing (Cullen 2002; Kogut 2002). In light of an increasing level of FDI and the relatively high rate of foreign entry failure, academics and managers have become increasingly interested in the factors affecting international performance. Existing studies on the performance of multinational enterprises (MNEs) from developed countries have found various factors positively contributing to overseas performance, such as resource commitment (Demirbag et al. 2007; Luo 2003) and international experience (Carlsson et al. 2005; Uhlenbruck 2004). However, little academic attention has been devoted to the internationalization outcomes of MNEs from emerging economies (EEs) (Hoskisson et al. 2013; Jormanainen and Koveshnikov 2012; Morck et al. 2008; Wright et al. 2005). In particular, we know little about how factors affecting the internationalization performance of MNEs from EEs may differ from those affecting MNEs from developed countries. Therefore, this study aims to fill this research gap by investigating factors affecting the internationalization performance of a specific group of EE MNEs: Chinese state-owned enterprises (SOEs). State-owned enterprises are chosen as our research setting in this study for the following reasons: first, by the end of 2010, SOEs constituted 80 percent of Chinese outward FDI stock; among the 40 largest Chinese firms by outward FDI stock, 37 were SOEs (MOC 2011).

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