Emerging markets are characterized by underdeveloped institutions and frequent environmental shifts. Yet they also contain many firms that have survived over generations. How are firms in weak institutional environments able to persist over time? Motivated by 69 interviews with leaders of...

This working paper suggests that the business history of emerging markets should be seen as an alternative business history rather than merely adding new settings to explore established core debates. The discipline of business history evolved around the corporate strategies and structures of...

This working paper explores long-run patterns in the strategies of international business in developing countries. There was a massive wave of Western multinational investment in the developing world during the first wave of globalization before the 1920s. The subsequent decades of...