The Competitive Advantage of Emerging Market Multinationals
The Competitive Advantage of Emerging Market Multinationals
Ravi Ramamurti, Northeastern University, Boston
Afonso Fleury, University of Sao Paulo
Maria Tereza Leme Fleury, Fundação Getulio Vargas, São Paulo
Multinationals from Brazil, Russia, India and China, known as the BRIC countries, are a new and powerful force in global competition and are challenging the incumbency of much older global companies from the developed world. Emerging market multinational enterprises (EMNEs) now account for a quarter of foreign investment in the world, are a prolific source of innovation and make almost one in three cross-border acquisitions globally. Despite this, traditional theories of international business do not provide a satisfactory explanation of their behaviour or performance. The authors of this book shine new light on the rise of the EMNEs and how they have built a competitive advantage through innovation, novel configurations of their international value chains and the acquisition of companies overseas. Any manager, policy maker or researcher who wishes to understand the emergence of this new breed of multinational will find this book an invaluable resource.
- Theoretical insights are illustrated with many examples of innovative practice within the EMNEs
- Provides rigorous analysis of a rich data set by internationally respected experts
- Draws conclusions to guide future business strategy, government policy decisions and research directions
Reviews & endorsements
'This volume is an important and thoughtful contribution toward understanding the roots, evolution and current extent of the competitive advantages that help emerging market multinationals to become global players in the world FDI market.' Karl P. Sauvant, Vale Columbia Center on Sustainable International Investment, Columbia Law School
'Emerging market multinationals (MNEs) are seizing with gusto the opportunities of globalization and of the global economic crisis. They spread their wings, deploy their ownership advantages, acquire the assets they lack, such as brands, patents and distribution channels, and take market share from multinationals headquartered in developed economies. The Competitive Advantage of Emerging Market Multinationals analyses the processes that are driving the fast accumulation of global capabilities and networks by BRIC-based MNEs. The reassessment of the explanatory power of existing theories of international business will be of great value to scholars and students; managers and policy makers will also find useful insights that can hopefully lead to better decision-making for all interested stakeholders.' Andrea Goldstein, OECD
'The Competitive Advantage of Emerging Market Multinationals investigates how firms based in Brazil, Russia, India and China are developing new products and processes, configuring their international value chains, and acquiring and exploiting capabilities through mergers and acquisitions. One exciting feature of this book is the parallel treatment of the strategies used by Brazilian, Russian, Indian and Chinese firms in these three areas. This book is a must-read for anyone eager to understand the international expansion of firms based in these four countries.' Jean-François Hennart, Center for Research in Economics and Business, Tilburg University, The Netherlands
Product details
April 2013Paperback
9781107659414
374 pages
229 × 142 × 17 mm
0.6kg
21 b/w illus. 32 tables
Available
Table of Contents
- Introduction Peter J. Williamson, Ravi Ramamurti, Afonso Fleury and Maria Tereza Leme Fleury
- Part I. Innovation and Competitive Advantage:
- 1. Innovation by Brazilian EMNEs Moacir de Miranda Oliveira Junior, Felipe Mendes Borini and Afonso Fleury
- 2. Innovation by Russian EMNEs Sergey Filippov and Alexander Settles
- 3. Innovation by Indian EMNEs Nikhil Celly, Jaideep Prabhu and Venkat Subramanian
- 4. Innovation by Chinese EMNEs Peter J. Williamson and Eden Yin
- Commentaries on Part I: i. The contribution of innovation to EMNEs' competitive advantage Bridgette Sullivan-Taylor
- ii. Innovation in emerging markets and the rise of emerging market MNEs Ram Mudambi
- Part II. Value-Chain Configuration and Competitive Advantage:
- 5. Value-chain configuration of Brazilian EMNEs Afonso Fleury, Maria Tereza Leme Fleury and Felipe Mendes Borini
- 6. Value-chain configurations of Russian EMNEs Valery S. Katkalo and Andrey G. Medvedev
- 7. Value-chain configurations of Indian EMNEs Suma Athreye
- 8. Value-chain configurations of Chinese EMNEs Kaimei Wang and Yongjiang Shi
- Commentaries on Part II: i. How emerging market multinational companies upgrade capabilities using value-chain configuration in advanced economies Alvaro Cuervo-Cazurra
- ii. Value-chain configurations of emerging country multinationals Jagjit Singh Srai
- Part III. Mergers and Acquisitions and Competitive Advantage:
- 9. Cross-border M&A and competitive advantage of Brazilian EMNEs Alvaro B. Cyrino and Erika P. Barcellos
- 10. Cross-border M&A and competitive advantage of Russian EMNEs Kalman Kalotay and Andrei Panibratov
- 11. Cross-border M&A and competitive advantage of Indian EMNEs Ravi Ramamurti
- 12. Cross-border M&A and competitive advantage of Chinese EMNEs Peter J. Williamson and Anand P. Raman
- Commentaries on Part III: i. Cross-border M&A by the new multinationals: different reasons to 'go global' Simon Collinson
- ii. Cross-border acquisitions by EMNEs Ravi Sarathy
- Conclusion: rethinking the implications of EMNEs' rise Peter J. Williamson, Ravi Ramamurti, Afonso Fleury and Maria Tereza Leme Fleury
- References
- Index.
