Emerging Market Multinationals Report (Emr) 2019 Emerging Markets: Building Constructive Engagement
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Fcom EMERGING MARKET MULTINATIONALS REPORT (EMR) 2019 EMERGING MARKETS: BUILDING CONSTRUCTIVE ENGAGEMENT FINAL DRAFT Emerging Markets Institute Cornell S.C. Johnson College of Business, Cornell University Lourdes Casanova, Senior Lecturer, Director Anne Miroux, Visiting Fellow i ©Cornell University ©Lourdes Casanova ©Anne Miroux 2019. All right reserved. ISBN-13: 978-1-7328042-3-4 ISSN 2689-0127 No part of this publication may be reproduced or transmitted in any form or by any means, including photocopying and recording, or by any information storage and retrieval system without prior permission of the copyright owners. ii Authors Lourdes Casanova is the Senior Lecturer and Director of the Emerging Markets Institute in the Johnson School of Management, at Cornell University. Formerly at INSEAD, she specializes in international business with focus on emerging market multinationals. In 2014 and 2015, she was named one of the 50 most influential Iberoamerican intellectuals by Esglobal. She has also been a Faculty Fellow at the Atkinson Center for a Sustainable Future and was a Fulbright Scholar, earning her Master degree from the University of Southern California and her PhD from the University of Barcelona. She has been a visiting professor at the Haas School of Business, University of California at Berkeley; Judge Business School, University of Cambridge and Latin American Centre, University of Oxford; University of Zurich and Universidad Autónoma de Barcelona. She was a consultant with the Inter-American Development Bank and directed executive programs at INSEAD for senior managers including Telefónica, BBVA, Cemex and the Brazilian Confederation of Industries. Lourdes Casanova’s publications include: Entrepreneurship and the Finance of Innovation in Emerging Markets, Elsevier, 2017, co- authored with P. Cornelius and S. Dutta; the Emerging Market Multinationals Report 2016: The China Surge, co-authored with A. Miroux; The Political Economy of an Emerging Global Power: In Search of the Brazil Dream, Palgrave Macmillan 2014, co-authored with J. Kassum; and ‘Global Latinas: Latin America’s emerging multinationals’ Palgrave Macmillan 2009. She also co-authored ‘Innovalatina, Fostering Innovation in Latin America’, Ariel 2011, and has contributed articles in journals including Beijing Business Review, International Journal of Human Resource Management, Business and Politics and Foreign Affairs Latinoamérica. She is a member of Latin America Global Agenda Council and the Competitiveness in Latin America taskforce of the World Economic Forum, the B20 Task Force on ICT and Innovation in G20 summit, Los Cabos (2012), and at INSEAD was responsible for the Goldman Sachs 10,000 women initiative. She is a board member of Boyce Tompson Institute, start-up Documenta. She is a founding Board Member of the Societé des Amis du Chateau de Fontainebleau and a member of the Advisory Council of the Tompkins Public Library. She is a founding board member of the Emerging Multinationals Research Network and co-founder of the Ithaca Hub of Global Shapers. Writer of an op-ed at Latin Trade http://latintrade.com/ and regular contributor to CNN en español http://cnnespanol.cnn.com/. Anne Miroux is a Faculty Fellow at the Emerging Markets Institute, Johnson School of Management at Cornell University. She has over 30 years of experience in international trade and finance. She began her career in the United Nations Centre on Transnational Corporations in New-York, and later joined the United Nations Conference on Trade and Development (UNCTAD) where she specialized on developing country debt, foreign direct investment and transnational corporations, and technology and innovation policies. For several years she headed the Investment Analysis Branch in UNCTAD and directed the World Investment Reports (WIR), the United Nations flagship report on FDI and transnational corporations and served as the Editor of the UN Transnational Corporations Journal. She published a number of papers and articles and led research projects and technical assistance activities in developing countries on debt, FDI and development. Until late 2015 Anne Miroux was the Director of the Division on Technology and Logistics in UNCTAD, and Head of the Secretariat of the UN Commission on Science and Technology for Development (CSTD). iii She is a member of the Advisory Board of the Technology and Management Center of the Department of International Development at Oxford University. She is also a member of the Board of NetExplo. Anne Miroux has an MBA from HEC, Ecole des Hautes Etudes Commerciales, and a diploma from IEP (Institut d'Etudes Politiques – Paris). She holds a PHD in Economics from University of Paris I - Sorbonne. Contributors Veneta Andonova is Associate Professor of Business Strategy at Universidad de los Andes School of Management, Colombia. She obtained her Ph.D. degree from Universitat Pompeu Fabra, Spain. Previously, she worked at Universidad Pompeu Fabra, ITAM (Mexico) and the American University in Bulgaria. Her research stands at the intersection of business strategy, entrepreneurship and economic development in the context of emerging and transition economies. Her most recent books are on the internationalization of Latin American corporations, the multilatinas, and the birth of entrepreneurial ecosystems in unexpected places. She has been extensively engaged in executive training, consulting and mentoring on a range of topics related to strategy, internationalization and innovation-driven entrepreneurship. Limin Chen is a professor in the School of Economics & Management at Wuhan University. She is also the director of Centre for Global Strategy at Wuhan University. She received her Ph.D. from Wuhan University in China, and was once a visiting professor at the Stern Business School of New York University in 2008. Her research interests are global strategy and institutional complexity, especially for Chinese multinationals. Maria Emilia Correa co-founded Sistema B and was a 2019 Fellow in the Advanced Leadership Initiative at Harvard University. Correa served as the first board chair of Sistema B, a Latin American enterprise promoting new economies and B Corporations. Ms. Correa also headed social and environmental responsibility for Latin American GrupoNueva, directed sustainability at Brazilian cosmetics company Natura Cosmeticos, and led biodiversity conservation in Colombia for The Nature Conservancy. Correa serves as a board member of for-profit companies—Colbún, Córpora, and Explora in Chile—and non-for-profit Fundación Bancolombia and Fundación Gaia in Colombia. Juana García Duque is Visiting Scholar at the David Rockefeller Center for Latin American Studies at Harvard University and Associate Professor at the Business School from Universidad de los Andes, Colombia. Her research activity in international development includes: (i) the role of international cooperation and the private sector in the peacebuilding process, and the study of (ii) internationalization and emerging economies. She is part of the academic committee of the Masters degree in Peacebuilding and coordinates several of university projects regarding peace, such as the research for Peace Portfolio. Her book Peacebuilding: the role of companies in the reintegration of ex-combatants gathers the learnings and iv challenges of Colombian companies working with ex-combatants. She has been working on new blended courses and MOOCs in emerging markets, exploring new education methodologies. Evodio Kaltenecker — Assistant Professor at EGADE Business School/Escuela de Negócios (México), the Samuel C. Johnson Graduate School of Management at Cornell University (USA), The Management Center Innsbruck (Austria), and Professor-in-Residence at Austral Education Group. Focus on strategy, Latin America, emerging market multinationals and international business. B.S. in Metallurgy by the Military Institute of Technology (IME), M.Sc in Industrial Engineering by the Federal University of Rio de Janeiro (UFRJ/Coppe), MBA by Harvard University (Harvard Business School) and Ph.D. in internationalization strategy by the Polytechnic School at University of São Paulo (POLI/USP). Miguel A. Montoya — Full Professor and Researcher at the School of Business of the Tecnológico de Monterrey campus Guadalajara since 1996. His Ph.D. is in Applied Economics from the Autonomous University of Barcelona (Cum Laude, 2007). He teaches at the Professional, Postgraduate and Executive Education levels at Tec de Monterrey on the Guadalajara campus and in other locations, receiving different awards from students and alumni for their teaching quality. Since 2009, he has been a member of the National System of Researchers of the National Council of Science and Technology (CONACYT — Mexico). He has published more than 30 research papers in journals and books on multinational companies, businesses at the base of the pyramid and regulatory. He is the editor of books with Cambridge University Press and Fudan Development Institute Press. He participates in the editorial board of Competition and Regulation in Network Industries and Harvard Deusto Business Research Journal. He has presented more than 40 research papers in international conferences in different countries. He has research residencies with Northeastern University (Boston, USA) and CEIBS (Shanghai, China). v Preface Three years ago, Drs. Lourdes Casanova and Anne Miroux, co-authors of the 2016 edition of the Emerging Market Multinational Report, asked me to write a preface. I offered