A new breed of multinationals from emerging markets is appearing in many industries. Western firms are wrong to underestimate, as they often do, the competitive threat from these firms. The discussion herein highlights the non-traditional competitive advantages these firms use to win at home and...

This article tests alternative hypotheses about why developing countries are pursuing privatization, a policy that gained considerable popularity in the 1980s. Univariate and multivariate analysis indicate that privatization was more likely to be pursued by countries with high budget deficits,...

The traditional bargaining model of MNC-host developing country relations has become obsolete. Today, those relations are better understood as the result of a two-tier, multi-party bargaining process. Tier-1 bargaining, between the governments of host and home countries, occurs bilaterally or...

Foreign direct investment (FDI) through multinational enterprises (MNEs) has emerged in the last decade as the principal source of foreign capital for developing countries. Meyer (this issue) underlines the need for international business (IB) scholars to understand the impact of these...

The re-emergence of the old world: MNEs and the emerging economies of China and IndiaAccording to projections of the National Intelligence Council, a US government think tank, by 2025 China and India will have the world's second- and fourth-largest economies, respectively. The world is changing...

Despite deregulation and privatization, governments in emerging economies continue to play important roles in private infrastructure projects, thereby exposing private investors to the risk of government reneging. The government's role as deal maker--and deal breaker--in infrastructure...

This study explores the goal orientation of state-owned enterprises (SOEs) with a view to develop a behavioral theory of SOEs. It is set in India, where as in many other countries the government expects SOEs to promote the "public interest" rather than maximize profits. The research design...

The 1990s witnessed a boom in foreign direct investment (FDI) in infrastructure sectors in developing countries, which was surprising for at least two reasons. First, infrastructure sectors, unlike manufacturing, suffer from the "market failure" problem, and the solution to that...