We analyze how a firm's country of origin affects its investments in a host country. Viewing the country of origin as a resource, we explain the advantage (disadvantage) of foreignness, i.e., the relative benefit (liability) a subsidiary of a foreign firm enjoys over domestic firms when its...

This chapter explains how the lessons derived from the analysis of Mexican multinationals, MultiMexicans, in a variety of industries contribute to a better understanding of the strategies used by emerging market firms to upgrade capabilities and internationalize. The chapter explains two main...

We analyze how a firm's home country influences its internationalization. We propose two complementary types of influence. First, we conceptualize a firm's international trade as shaped by four drivers: comparative advantage, comparative disadvantage, country-of-origin advantage, and...

We analyse the impact of foreign direct investment on domestic investment by emerging market firms. This relationship underlies a key policy debate on whether and how home-country governments should support outward foreign direct investment. While some governments are strongly in favour of...

Latin America is an under-researched region that has the potential to yield new and important insights on the internationalization of firms from emerging markets, particularly as compared with the experience of firms from other regions. At the same time, some of the unique features of Latin...

We study how the country of origin of a firm influences its internationalization, analyzing emerging economy multinational companies (EMNCs) as a laboratory for extending theory. EMNCs have been observed to vary from advanced economy MNCs (AMNCs), suggesting that the home context is the critical...

We use the rise of emerging-market multinationals as a vehicle to explore how a firm’s country of origin influences its internationalization. We argue that the home-country’s institutional and economic underdevelopment can influence the internationalization of firms in two ways. First,...

We analyze the non-market advantages of developing-country multinational companies (DMNCs) over advanced-economy multinational companies (AMNCs) when both compete in the same host country. Non-market advantages are advantages based on resources developed by the firm to operate in a country's...

We review the relationships between institutions and global strategy and explain several clarifications for future research. First, studies need to clarify the standard used to assess quality in institutional dimensions they research rather than let readers assess them from the measures. Second,...

We analyze learning-by-doing and how emerging market multinationals use it to upgrade their capabilities. Building on an in-depth case study, we present two novel arguments. First, we clarify the concept of learning-by-doing by identifying four distinct processes in which learning-by-doing...