Understanding Multinationals from Emerging Markets

Alvaro Cuervo-Cazurra is Professor of International Business and Strategy at Northeastern University's D'Amore-McKim School of Business. He studies the internationalization of firms, with a special interest in developing-country multinationals, and his geographical area of expertise is Latin America. He also analyzes governance issues, with a focus on corruption in international business. He teaches and consults on global strategy and sustainability. For more information, please visit www.cuervo-cazurra.com. Ravi Ramamurti is D'Amore-McKim Distinguished Professor of International Business and Strategy and Director of the Center for Emerging Markets at Northeastern University's D'Amore-McKim School of Business. His research and consulting have focused on companies operating in, or from, emerging economies. This is his third volume with Cambridge University Press, the others being Emerging Multinationals in Emerging Markets (2009, edited with J. V. Singh) and The Competitive Advantage of Emerging Market Multinationals (2013, edited with P. W. Williamson, A. Fleury and M.-T. Fleury).

'This book, with contributions from some of the leading academics in international business, sheds light on what is perhaps the biggest business strategy issue of our time: how competition between emerging market and established multinationals is likely to unfold with the big shift in many economic activities from advanced economies to emerging economies.' Pankaj Ghemawat, Anselmo Rubiralta Professor of Global Strategy, IESE Business School, and Distinguished Visiting Professor of Global Management, Stern School of Business, New York University

• Foreword; 1. Introduction Alvaro Cuervo-Cazurra and Ravi Ramamurti; Part I. EMNCs in Historical Perspective: What Is New?: 2. Theoretical debates on multinationals from emerging economies Yair Aharoni; 3. What does history add to EMNC research? Andrew Godley; Part II. Unique Capabilities of EMNCs: Do They Exist?: 4. Modern international business theory and emerging market multinational companies Alan M. Rugman and Quyen T. K. Nguyen; 5. The limits of 'new' multinational enterprises: institutions, systems, and 'members-only' location advantages Rajneesh Narula; 6. The evolution of EMNCs and EMNC thinking: a capabilities perspective Donald Lessard; 7. EMNCs and catch-up processes: the case of four Indian industries Kristin Brandl and Ram Mudambi; Part III. The Internationalization of EMNCs: Different Drivers?: 8. The global expansion of EMNCs: paradoxes and directions for future research Peter J. Williamson; 9. Process perspectives on the growth of emerging economy multinationals Klaus E. Meyer; 10. Migrating EMNCs and the theory of the multinational Helena Barnard; 11. Business groups, institutional transition, and the internationalization of firms from emerging economies Torben Pedersen and Tamara Stucchi; 12. Country of origin effects on internationalization: insights from Brazil Afonso Fleury and Maria Tereza Leme Fleury; Part IV. A Path for the Future: 13. Conclusion: an agenda for EMNC research Alvaro Cuervo-Cazurra and Ravi Ramamurti; Further reading; Index.