Emerging multinational enterprises (or EMNEs) have made a huge impact on the international business stage by internationalising at a rapid rate. And they have performed remarkably well in both developing and developed countries. Accordingly, there is a growing strand of literature on how EMNEs manage their international human resource (IHRM) practices in different international contexts. However, the majority of the literature on IHRM practices of EMNEs is limited to explaining what international management practices EMNEs implement in their foreign subsidiaries and how they implement them. Too often, EMNEs struggle to transfer their weak management practices across national borders as they have limited experience, resources and capabilities when compared to MNEs from developed countries. Developing a better understanding on the manner in which EMNEs adopt their international human resource management and development practices abroad is, therefore, paramount to fully understand their globalisation-related behaviours. This dedicated book will aim to provide a holistic picture and contemporary insights on IHRM in emerging multinational enterprises. It will be of interest to researchers, academics and students in the fields of business and management, especially those with a particular interest in human resource management, firm internationalisation and emerging markets.

Bringing together the leading authorities on globalization and international business this book looks ahead to the new challenges facing multinational firms and predicts what the multinational company will look like in ten years time.

From a capital market perspective, the author analyzes Merger and Acquisitions transactions (M&A) and in-licensings in the pharmaceutical industry between 1998 and 2012. Utilizing the event study methodology, the volume shows that M&A experiences significant, negative cumulative average abnormal returns whereas in-licensings are able to create value. But what are the underlying value drivers which make a deal a success or a failure story? The author derives significant innovative determinants of success for both strategies.

Multinational enterprises are becoming a dominant force in international business but surprisingly little has been written on the vital question of the legal issues surrounding their global operations.

Newly updated in paperback, Multinational Enterprises and the Law represents the only complete contemporary and interdisciplinary account of the various techniques used to regulate MNE's at national, regional and international levels. The coverage is comprehensive, authoritative and accessible using numerous case studies from both developed and developing stages to unite theory and current practice.

Split into three major sections the book deals with:

Part I - the conceptual background to MNE regulation.

Part II - a complete examination of the limits of national and regional jurisdiction in regulating MNEs, restrictions on entry and establishment, investment promotion, the impact of the WTO post-entry controls in the fields of tax, company law, antitrust and labour law.

Part III - the contribution of international law and organizations to the regulation of MNEs, including renegotiations and expropriation, ICSID, MIGA and bilateral investment treaties.

The author has skilfully identified the contributions that economics, politics and sociology can add to a full understanding of the legal environment in which the MNE operates.

There can be no doubt that the breadth and depth of the coverage in this book will make it the definitive reference for students, researchers and practitioners in international law, business law, development studies, international politics and international business.

Latin American multinationals (multilatinas) have been central in the rise of emerging markets in the last few decades. Their development comprises part of the global shift of wealth and power between nations. The rise of firms in a broad range of sectors - including construction, oil, telecommunications and the aeronautical industry - as important regional and global players is spreading: companies in Brazil, Mexico, Colombia, Chile and many others are part of this increasing phenomenon. This book analyses the trends, the countries and the firms involved, and explores the implications for the US, China, Spain and the rest of Europe. In particular, Javier Santiso examines how Spain might profit from positioning itself as a unique hub between Europe and Latin America. The Decade of the Multilatinas includes a wide range of statistical data which will be useful to scholars, policymakers and commentators on Latin America in particular, and international business and emerging markets more generally.

This book uses the examples of local supply firms in China and Brazil and their connections to the global automotive industry to explore the nature of current global value chains. It argues that lead firms make use of product architecture to globalize their procurement and supply chain management and that they effectively restructure the global supply base by internationalizing the most capable supply firms, thereby creating oligopolies controlled by the lead firm. The book goes on to contend that some firms have gained such powerful positions that they have gained a degree of control over other firms without the necessity of ownership - altering the mechanics of governance. Also, it shows how, although some supply firms from emerging markets have utilized their business ties with western assembly firms to upgrade themselves within the global value chain, most are squeezed out through increased global competition. Overall, the book makes a major new contribution to the economic theory of governance.

Thomas L. Brewer and Stephen Young examine the future of the world economy and the key economic and political forces that will shape it. They consider the implications of historically important changes in the world economy in recent years including the expansion of the international investments of multinational corporations and the new role of the World Trade Organization (WTO). The authors present numerous examples of how countries have changed their international trade and investment policies, and examine how these changes are affecting firms' strategies and operations worldwide. They explain the importance to international investment, as well as trade and technology transfer, of the many agreements being implemented by the WTO. The role of other international agencies such as the UN, World Bank, OECD, EU, and NAFTA are also discussed. This book should be of value to all those with an interest in the future of the world economy and international business.

When President Garter responded to the Soviet invasion of Afghanistan by slapping an embargo on U.S. grain shipments to the U.S.S.R., he used "the wealth weapon" to defend American strategic interests and human rights, as authors Ben J. Wattenberg and Richard J. Whalen pro-pose in this book that breaks new ground in analyzing U.S. foreign pol-icy.

Writing from their different per-sonal perspectives (as a liberal Demo-crat and a moderate Republican re-spectively), this pair of partisan ac-tivists offer a lively, balanced set of arguments, pro and con, for an activist U.S. foreign policy. They and a cast of invented characters representing op-posing viewpoints debate whether U.S. foreign trade and investments and American multinational corporations should be used to pursue national goals and objectives, especially in dealing with the communist nations.

The authors argue that the post-Vietnam reduction of U.S. political influence and military strength over-seas gives future presidents little choice but to use the largely exploited economic strength and wealth-creat-ing ability of America to protect vital interests abroad--just as President Carter felt compelled to do on an ad hoc basis after the Soviets took over Afghanistan. They call for a consis-tent, long-term use of "the wealth weapon" in close coordination with U.S. allies and trading partners.

As veteran political analysts and so-cial critics, the authors take a fresh, provocative and informative look at a phenomenon too often left to dry-as-dust economists: the role in the world of giant global corporations whose re-sources often dwarf those of nation-states. As they declare, the authors set out to write the first truly readable (and even enjoyable) book about multina-tional corporations--and they have succeeded amid a world crisis when their timely message anticipates to-morrow's headlines.

Finding ways to alleviate global poverty poses a major challenge for political leaders and intellectuals worldwide. The contributors to this volume, top scholars of international business, examine the effects of globalization on the developing world and address ways in which multinational corporations (MNCs) can play a positive role in the fight against poverty.The essays illustrate how, by creating new business models, multinational enterprises are best equipped to relieve global poverty. By making investments among the poor - in pursuit of profit and shareholder wealth rather than as charity - the economic activity generated by investments would go a long way towards reducing poverty. The contributors show how following this strategy would lead to today's poor becoming part of the economy and emerging as visible customers for MNCs. They address the many facets of this plan in chapters on: MNCs and host environment and policies, strategies and their impact, governments and civil society, international business models, and global institutions and social responsibility. This unique solution to poverty reduction will be of great interest to scholars of international relations and business, international corporate managers and executives, government officials, and NGO executives dealing with global matters.

This book examines the impact of multinational enterprises (MNEs) on local economies, and presents selected case studies of MNEs operating in low income countries. By balancing external social and environmental costs against its corresponding benefits, the book demonstrates that MNEs can have a positive net-impact on local development if they build up social capital by embedding themselves in local economies and engaging responsibly with local stakeholders. By doing so MNEs contribute to inclusive growth, a central pillar of the UN Sustainable Development Goals. In this context, the book challenges popular narratives in civil society and academia that frame foreign direct investment (FDI) merely as a threat to human rights and sustainable development. Moreover, it offers practical guidance for globally operating businesses seeking to establish progressive Corporate Social Responsibility (CSR) strategies of their own.

Financial Reporting by Multinationals is concerned with financial reporting issues resulting from the growth and spread of multinational corporations. The book consists of up to date readings from a broad range of international journals which look at, and evaluate, the financial accounting techniques adopted in different parts of the world for dealing with issues such as group accounting, segmental reporting, foreign currency translation and inflation accounting. It also includes articles concerned with financial reporting issues resulting from the globalization of world stock markets from a corporate, investor and stock market perspective. The final section considers issues for other users of multinational financial reports such as host governments and employees.

Since its origins in the 1920s as a refrigerator factory in Qingdao supplying the Chinese market, Haier has risen to become a major multinational company, overtaking the likes of Whirlpool and LG, to become the world's leading manufacturer of household appliances today, with revenues of $30 billion. How did Haier achieve this amazing feat? This book examines Haier's organizational transformation, which can be traced back to 1984 when Zhang Ruimin (Haier's current CEO) joined the company, and which became the essence of Haier's sustained competitive advantage. In particular, it looks at the "RDHY Win-Win Model of Employee-Customer Integration", the latest management practice in Haier, which has had a profound effect on the company's performance, and which has captured the attention of academics and managers around the world.

In the field of international business, it is increasingly recognized that Multinational Corporations (MNCs) can no longer rely on headquarters as the single source of competitive advantage. Therefore, growing interest centers on decentralized entrepreneurial initiatives that originate in their network of foreign subsidiaries. Based on an extensive review of literature, Lars R. Dzedek develops a comprehensive framework to help explain how the setting in which a foreign subsidiary operates impacts its entrepreneurial initiatives and outcomes. The author conducts an empirical investigation in 14 foreign units of two large MNCs and offers detailed case studies with rich insights into entrepreneurial subsidiary activities.

This thesis analyzes the motivation and performance of 403 acquisitions made by emerging multinational corporations (EMNCs) in Western Europe and North America between 1994 and 2013. The findings indicate that most EMNCs were motivated to acquire in order to obtain access to the upstream and downstream know-how of their target firms. In addition, the thesis' event study results demonstrate that EMNCs on average generated value for their shareholders with their acquisitions over short periods around acquisition announcement. This result is particularly significant since similar studies on buying firms from developed markets have frequently come to the conclusion that acquirers destroy shareholder value.

One surprising development in the growth of multinational businesses and international trade is the large and growing amount of intra-industry direct foreign investment. Intra-industry direct foreign investment is the phenomenon whereby multinationals from two countries have overseas manufacturing operations in each other's countries. The phenom

The challenges faced by Latin American multinational companies, or multilatinas, often require unique strategies tailored to a demanding global environment. This book studies the strategies of internationalism exercised by large multilatinas, offering the first systematic, quantitative effort to examine the pattern of their international investments within the context of their competitive position in the domestic market. Multilatinas uncovers common strategies among sixty-two multilatinas from six countries, and emphasizes the unique challenges they face, as well as the diversity of their organizational resources. It also brings the institutional environment of Latin American countries to the fore, assessing its role as an essential component in understanding internationalization decisions. Finally, the book studies the role of non-market organizational resources such as bribes, negotiations and favours in business strategies. Multilatinas is an invaluable read for students, scholars, practitioners and executives studying Latin America's place in international business.

This impressive Handbook provides a dynamic perspective on the development of successful born global firms, including evolutionary phases and pathways of growth, emergence of entire born global industries, role of founders' linkages, experience, culture and training, as well as collaboration with large MNEs. The expert contributors and the editors explore the origin and evolution of born globals and the changing history of this sector. They outline the training involved in developing international intellectual entrepreneurs and study the effects of different cultures on the origin and growth of born globals. The Handbook focuses on the different types of born globals that emerge from the general set of SMEs - ranging from the pure born globals to the born again globals, the born regionals, and their sub group of born again regionals. It also innovatively differentiates these from internationalizing SMEs and international new ventures. Providing a dynamic perspective on the development of successful born global firms, this book will prove essential reading for researchers and students of international business. Founders of born global firms will also learn about novel management practices, while educational institutions and governments will find invaluable insights on how to foster the emergence of successful born globals.

This original and important book explores how the interaction between China and multinational enterprises (MNEs) has the potential to affect the future of the Chinese economy, the global economy, and international business. It examines the interaction of two of the most important forces affecting the development of the global economy in recent decades - firstly the opening and massive growth of the Chinese economy, and secondly the rise in foreign direct investment per se and the consequent strategic restructuring of major MNEs. The expert contributors begin by investigating precisely how leading MNEs, with well-honed international practices and commitments, have drawn their subsidiaries in China into their established networks. They suggest that MNEs' operations are increasingly embedded in the growth and sustainability of the Chinese economy itself, rather than merely serving as a supply base for their global markets. The second part of the book examines the emergence of new MNEs from China itself. It shows how these MNEs are seen as integral to China's development, and how their ability to expand reflects strengths from China's growth as well as revealing the growing needs required for sustainability. This timely study will be of great interest not just to those following one of the world's key economies, but also to researchers and students of the fast-paced changes in international business strategy.

The early research on multinational enterprises usually relied on traditional economic theory or relatively simple but powerful theories developed in the field of international business. They were developed to help us understand why firms entered international markets.
However, as the field of international management has developed further, with more scholars from adjacent disciplines conducting research on issues of importance to international markets and multinational firms, newer, more diverse and complex theoretical perspectives have been developed. The present volume involves a series of invited papers focused partly on Professor Doz??'s recent work and on other newer and important theoretical perspectives on the multinational enterprise. These works are authored by a number of top scholars in the field from North America and Europe. The intent of this volume is to highlight and emphasize the new and diverse theoretical foci in this field (e.g., management of large groups in emerging markets, international entrepreneurship and the liabilities of foreignness) and serve as a catalyst to the increasingly important research designed to help us understand and build a theory of the multinational firm.

The book is divided into three parts, with the first focused on the new and visible theory of the metanational firm by Yves Doz and comments on this work and Yves Doz??'s broader contributions to the field by three top scholars in the international management field. The second part contains two works that examine the evolving nature of theory on the multinational firm in international management research. The third part contains five papers that present diverse yet highlyimportant theoretical perspectives on the multinational enterprise. This work provides a base upon which future excellent research in the field of international management will be advanced.

The purpose of this book is to present leading research concerning the increasing strategic importance of environmental concerns within the multinational firm, and to explore the implications of corporate environmental strategy on public policy. The contributions present empirical research that deals with the simultaneous effects of the globalization of markets and the emergence of environmental concerns as issues of corporate strategy, either using a cross-national sample of firms within a global industry, or a sample of multinationals from a particular home country. By considering the dynamics of corporate environmental behavior explicitly within the context of global markets, the book makes a unique contribution to the discussion about the impact of multinational activity.
The chapters provide a rich understanding of the kinds of interactions that occur between multinationals and regulators, multinationals and non-governmental organizations, and multinationals and their customers. By explaining what motivates multinational firms to make environmental investments and to improve their environmental performance, these studies offer necessary input for the formulation of well-informed public policy.
As a consequence, this book provides essential material for advanced students and decision-makers interested in the changing role of multinational enterprises in the global economy. While being of broad interest to academics in the field of international business and strategy, this volume also provides interesting results to researchers concerned with the ability of national governments to regulate multinationals, how regulation affects multinationals, and how in turn multinationalconduct affects regulatory standards.

Hailed by some as fundamental pillar of global governance, and criticized by others as manifestation of 'top-down globalism', multi-stakeholder partnerships have become the new mantra of policy-makers around the globe. However, our understanding of what drives success and failure in these hybrid institutions remains scetchy and incomplete. This book will introduce a production theory of partnering which describes how the contributions actors add to a partnership are translated into results. The objective of this new perspective on collaboration is to make sense of the complex dynamics partnerships face and to derive fundamental propositions on how governance structures should be designed to make partnerships succeed.

The historical-structural method employed here rejects analyses that are excessively voluntaristic or deterministic. The authors show that while the state was able to mitigate certain adverse consequences of TNC strategies, new forms of dependency continued to limit Mexico's options.

Originally published in 1985.

The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These paperback editions preserve the original texts of these important books while presenting them in durable paperback editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.

This book is published during a phase of crisis and transformation for the automobile industry across the world; this crisis is particularly acute in Europe and the United States. The book is written especially for the non-specialist with more than a passing interest in the sector, such as experts of other sectors, trade unionists, representatives of the corporate world, policymakers and public managers who deal with industry, commerce and public planning. The authors provide up-to-date information and assessments of what is actually taking place, with particular attention paid to the sub-supply companies. The main focus lies on four European countries, Germany, Spain, Sweden and Italy, each of which is significant for its different experiences. Finally, three important non-European situations, the United States, Brazil and Japan, are examined.

An increasing number of studies in the last decade or so have emphasized the viability and persistence of distinctive systems of economic coordination and control in developed market economies. Over more or less the same period, the revival of institutional economics and evolutionary approaches to understanding the firm has focused attention on how firms create distinctive capabilities through establishing routines that coordinate complementary activities and skills for particular strategic purposes. For much of the 1990s these two strands of research remained distinct. Those focusing on the institutional frameworks of market economies were primarily concerned with identifying complementaries between institutional arrangements that explained coherence and continuity. On the other hand, those focusing on the dynamics of firm behavior studied how firms develop new capacities and are able to learn new ways of doing things.
This book aims to bring together these approaches. It consists of a set of theoretically motivated and empirically informed chapters from a range of internationally known contributors to these debates. In their chapters, the authors show how institutions and firms evolve. Ideas of path dependency and complementarity of institutions are subjected to critical scrutiny both by reference to their own internal logic and to empirical examples. Varieties of institutional integration, the surprising maintenance of 'deviant' or alternative traditions and processes, and the existence of unpredictable yet consequential policy options that can lead to breaks in path dependency are scrutinized with particular reference to how national and international firms may relate toinstitutions at various levels as a diverse arena of potential resources rather than as a singular and determinant constraining force. The book provides a set of theoretical and empirical challenges for researchers concerned with the relationship between national institutional contexts and firm dynamics. For those involved in teaching or studying at doctoral, Masters and higher level undergraduate courses, the book provides a structured entry into the debates about how institutions and firms are changing in the contemporary era.