The internationalization of emerging market business groups: an integrated literature review

Purpose – The purpose of this paper is to review the extant literature on the institutional, market‐centered, and the resource‐based perspectives on the internationalization of BGs in emerging markets; to suggest that business group affiliation is an important ingredient in the internationalization of emerging market MNCs; and to offer examples of internationalization from one emerging market, Turkey. Design/methodology/approach – This is a critical literature review integrating two strands of literature, the institutional, market‐centered and resource‐based theories of internationalization and the OLI and the LLL models of emerging market multinationals' international expansion. Findings – The theorizing indicates that an integrated theoretical approach should lead to a better understanding of emerging market business group affiliates' internationalization. Research limitations/implications – As a literature integration paper, the paper is limited in its practical implications. Originality/value – The paper is a critical literature review and is likely to lead to testable hypotheses about the internationalization of business group affiliates from emerging markets.