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Emerging Indian MultinationalsStrategic Players in a Multipolar World$
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Mohan Thite, Adrian Wilkinson, and Pawan Budhwar

Print publication date: 2016

Print ISBN-13: 9780199466467

Published to Oxford Scholarship Online: June 2016

DOI: 10.1093/acprof:oso/9780199466467.001.0001

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Emerging Market Multinationals*

Emerging Market Multinationals*

An Overview

(p.1) 1 Emerging Market Multinationals*
Emerging Indian Multinationals

Mauro F. Guillén

Esteban García-Canal

Raquel García-García

Oxford University Press

In the last two decades, new multinational enterprises from emerging, upper middle-income or oil-rich countries have defied traditional internationalization patterns followed by developed country multinationals. Not only have they been successful, but some have even managed to oust the long-established leaders in their respective industries. The outstanding rise of these new multinationals poses three main questions. First, do these firms share some common distinctive features that distinguish them from traditional multinationals? Second, what advantages have allowed them to operate and compete not only in host countries at the same or lower level of economic development but also in the richest economies? Third, how come they have been able to expand abroad at dizzying speed, in defiance of the conventional wisdom about the virtues of a staged, incremental approach to internationalization? In this chapter we answer these questions in order to get a more comprehensive picture of the new multinationals phenomenon.

Keywords:   international management, emerging markets, new multinationals, foreign direct investment (FDI), internationalization speed, capability upgrading, resource-based view

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