The Internationalization of Emerging Market Firms: a Context-Specific Study
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A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Stucchi, Tamara Doctoral Thesis The Internationalization of Emerging Market Firms: A Context-Specific Study PhD Series, No. 19.2013 Provided in Cooperation with: Copenhagen Business School (CBS) Suggested Citation: Stucchi, Tamara (2013) : The Internationalization of Emerging Market Firms: A Context-Specific Study, PhD Series, No. 19.2013, ISBN 9788792977519, Copenhagen Business School (CBS), Frederiksberg, http://hdl.handle.net/10398/8699 This Version is available at: http://hdl.handle.net/10419/208854 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. 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All rights reserved. No parts of this book may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, or by any information storage or retrieval system, without permission in writing from the publisher. TABLE OF CONTENTS Acknowledgements .................................................................................................................... 6 Summary of the Ph.D. thesis...................................................................................................... 7 Resume på Dansk ....................................................................................................................... 9 PART ONE: THESIS INTRODUCTION .......................................................................... 11 1. Theme and outline of the Ph.D. thesis ................................................................................. 11 1.1 Objective of the Ph.D. thesis .......................................................................................... 11 1.2 Contribution of the Ph.D. thesis ..................................................................................... 12 1.3 Research questions ......................................................................................................... 12 2. Research on emerging markets: current literature and beyond ............................................ 14 2.1 The value of a single country context ............................................................................ 19 2.2 The Indian context .......................................................................................................... 21 3. The four research papers: methodology and summary ........................................................ 26 PART TWO: Emerging market firms’ acquisitions in advanced markets: Matching strategy with resource-, institution- and industry-based antecedents .............................. 29 Abstract .................................................................................................................................... 29 1. INTRODUCTION .............................................................................................................. 30 2. THEORETICAL DEVELOPMENT .................................................................................. 32 2.1 Upmarket acquisitions: augmentative and exploitative strategies ................................ 35 2.2 Antecedents to internationalization ............................................................................... 37 3. UPMARKET ACQUISITIONS: A THEORETICAL MODEL ......................................... 43 3.1 Upstream strategy .......................................................................................................... 44 2 3.2 Exploitative strategy ...................................................................................................... 46 3.3 Augmenting strategy ..................................................................................................... 47 3.4 Downstream strategy ..................................................................................................... 49 4. DISCUSSION AND CONCLUSIONS .............................................................................. 52 References ................................................................................................................................ 56 Illustrations .............................................................................................................................. 64 PART THREE: Time to Internationalization and Evolving Institutions: An Event History Analysis of Indian Firms ......................................................................................... 66 Abstract .................................................................................................................................... 66 1. INTRODUCTION ............................................................................................................... 67 2. THEORETICAL BACKGROUND ..................................................................................... 69 3. HYPOTHESES DEVELOPMENT ..................................................................................... 73 3.1 Domestic context embeddedness .................................................................................. 73 3.2 Industrial context embeddedness .................................................................................. 75 3.3 Institutional evolution ................................................................................................... 77 4. METHODOLOGY .............................................................................................................. 79 4.1 Data and sample ................................................................................................................. 79 4.2 Measures ....................................................................................................................... 80 4.3 Results ........................................................................................................................... 84 5. DISCUSSION AND CONCLUSIONS ............................................................................... 90 5.1 Limitations and future research ..................................................................................... 92 References ................................................................................................................................ 94 3 Tables and figures .................................................................................................................. 102 PART FOUR: The Role of Overseas National Ownership in Outward FDI: A Study of the Indian Diaspora ............................................................................................................. 106 Abstract .................................................................................................................................. 106 1. INTRODUCTION ............................................................................................................. 107 2. RESEARCH BACKGROUND ......................................................................................... 110 2.1 Overseas nationals ....................................................................................................... 110 3. HYPOTHESES DEVELOPMENT ................................................................................... 114 3.1 Overseas national ownership and OFDI ....................................................................