Internationalization of Emerging Economies and Firms PDF
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Internationalization of Emerging Economies and Firms Also by Marin Marinov FOREIGN DIRECT INVESTMENT IN CENTRAL AND EASTERN EUROPE (with Svetla Marinova) INTERNATIONAL BUSINESS (with Michael Czinkota, Ilkka Ronkainen, Michael Moffett and Svetla Marinova) INTERNATIONALIZATION IN CENTRAL AND EASTERN EUROPE MARKETING IN THE EMERGING MARKETS OF CENTRAL AND EASTERN EUROPE: The Balkans MARKETING IN THE EMERGING MARKETS OF ISLAMIC COUNTRIES MARKETING IN THE EMERGING MARKETS OF LATIN AMERICA THE CHANGING NATURE OF DOING BUSINESS IN TRANSITION ECONOMIES (with Svetla Marinova) Also by Svetla Marinova FOREIGN DIRECT INVESTMENT IN CENTRAL AND EASTERN EUROPE (with Marin Marinov) INTERNATIONAL BUSINESS (with Michael Czinkota, Ilkka Ronkainen, Michael Moffett and Marin Marinov) THE CHANGING NATURE OF DOING BUSINESS IN TRANSITION ECONOMIES (with Marin Marinov) Internationalization of Emerging Economies and Firms Edited by Marin Marinov Professor, University of Gloucestershire and Svetla Marinova Professor, Aalborg University Selection and editorial content © Marin Marinov and Svetla Marinova 2012 Individual chapters © the contributors 2012 All rights reserved. No reproduction, copy or transmission of this publication may be made without written permission. No portion of this publication may be reproduced, copied or transmitted save with written permission or in accordance with the provisions of the Copyright, Designs and Patents Act 1988, or under the terms of any licence permitting limited copying issued by the Copyright Licensing Agency, Saffron House, 6–10 Kirby Street, London EC1N 8TS. Any person who does any unauthorized act in relation to this publication may be liable to criminal prosecution and civil claims for damages. The authors have asserted their rights to be identified as the authors of this work in accordance with the Copyright, Designs and Patents Act 1988. First published 2012 by PALGRAVE MACMILLAN Palgrave Macmillan in the UK is an imprint of Macmillan Publishers Limited, registered in England, company number 785998, of Houndmills, Basingstoke, Hampshire RG21 6XS. Palgrave Macmillan in the US is a division of St Martin’s Press LLC, 175 Fifth Avenue, New York, NY 10010. Palgrave Macmillan is the global academic imprint of the above companies and has companies and representatives throughout the world. Palgrave® and Macmillan® are registered trademarks in the United States, the United Kingdom, Europe and other countries. ISBN 978-1-349-34555-7 ISBN 978-0-230-36366-3 (eBook) DOI 10.1057/9780230363663 This book is printed on paper suitable for recycling and made from fully managed and sustained forest sources. Logging, pulping and manufacturing processes are expected to conform to the environmental regulations of the country of origin. A catalogue record for this book is available from the British Library. A catalog record for this book is available from the Library of Congress. 10 9 8 7 6 5 4 3 2 1 21 20 19 18 17 16 15 14 13 12 To our beloved parents with everlasting gratitude, To all devoted colleagues and friends with respect Marin and Svetla Contents List of Tables xii List of Figures xiv List of Boxes xv Notes on Contributors xvi 1 Internationalization of Emerging Economies and Firms 1 Marin A. Marinov and Svetla T. Marinova Introduction 1 Theoretical foundation for the internationalization of emerging economies and firms 2 Accelerated internationalization of emerging economies and firms 4 Inward foreign direct investment in emerging economies 5 Outward foreign direct investment from emerging economies 6 Overview of the book 7 2 The Regulatory Framework for Investment: Where Are We Headed? 15 Karl P. Sauvant Introduction 15 The national regulatory framework 18 The international regulatory framework 20 Factors driving change 21 The changing regulatory regime for FDI 28 3 Internationalization of Companies from Former Communist Countries: Outward Foreign Direct Investment from Central, East and South Europe, and the Commonwealth of Independent States 40 Witold Wilinski Introduction 40 Main streams of foreign direct investment theory 42 Main methodological problems 44 Outward foreign direct investment from transition economies in the global context 46 MNEs from transition economies 51 Conclusions and further research 61 vii viii Contents 4 F oreign Direct Investment in New EU Member States from Central and Eastern Europe: An Investment Development Path Perspective 64 Marian Gorynia, Jan Nowak, Piotr Tarka and Radosław Wolniak Introduction 64 The IDP concept and its application in the studies of CEE countries 65 Econometric analysis in IDP studies 69 Current positioning on the IDP 70 The outward FDI performance index 81 Conclusions 82 5 S ustainable Foreign Direct Investments: Regional Development and Transition Economies 87 Marjan Svetličič Introduction 87 FDI and the development of regions: theoretical framework and results of empirical studies 88 Results of the survey among FDI promotion agencies in selected European regions 93 How to promote sustainable FDI and regional development 102 Conclusions 109 6 B orn-Global Firms from China and Norway: A Comparison 115 Siv Marina Flø Karlsen, Youzhen Zhao and Randi Lunnan Introduction 115 International entrepreneurship 117 Determinants of the pace of internationalization 121 Conceptual framework 123 Research method 124 Analysis of findings 125 Discussion 130 Conclusion and suggestions for future research 132 7 B ecoming a True Born Global without Any Experiential Market Knowledge: Three Chinese Cases 141 Tiia Vissak and Xiaotian Zhang Introduction 141 Literature review 142 Ways of acquiring foreign market knowledge 146 Methodology and case study evidence 148 Case study evidence 151 Discussion, conclusions and implications 159 Contents ix 8 F rom National Leaders to Global Players: Evidence from Russian MNEs in the High Technology Sector 169 Andrei Panibratov Introduction 169 Conceptual framework 170 Research methodology 174 Case studies 174 Findings and discussion 183 Research validity and limitations 186 Conclusions 186 9 A nalysing Culture in a Cross-Border Acquisition: An Indian–Finnish Deal in Focus 191 Niina Nummela and Mélanie Raukko Introduction 191 Key culture concepts in cross-border acquisitions 193 Culture in post-acquisition integration 197 Linking the key concepts 198 Research design 199 Culture issues 205 Acculturation and cultural clashes in the case 211 Discussion and conclusions 215 10 D oes Export Marketing Engagement by Manufacturers Pay Off? Evidence from the Vietnamese Wood Furniture Industry 224 Bent Petersen and Song-Hanh Pham Introduction 224 Literature review and development of hypotheses 226 Research methodology 232 Results 237 Discussion 238 Conclusions 240 11 V enturing Strategy and Growth Pattern of Malaysian Multinational Enterprises 247 Elaine Y. T. Chew, Lee Peng Ng and Chin Kian Low Introduction 247 Literature review 248 Methodology 253 Case summary 253 Findings and discussion 256 Conclusion 263
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